I have a credit card and i didnt make payments for about 3 months, and i went over the credit limit. I paid off half which brings me under my credit card limit, but they (capital one) said my card is restricted and i cant use it? why is that
2007-01-17 16:43:44 · 5 answers · asked by sweet_jemise 4 in Business & Finance ➔ Credit
Because you have defaulted on your agreement.
2007-01-17 16:58:28 · answer #1 · answered by mattymomostl 3 · 1⤊ 0⤋
To stem mounting credit card debt and fraud problems in Korea, Korean credit card issuers like Kookmin are starting to experiment with restricting transactions by merchant type, time, and amount. For example, a credit card that can't be used at bars from 8PM til 6AM could save Korean business men a lot of money. Some day, credit card users will be able to not only program their credit cards like they would a VCR but also issue and manage their own cards.
2007-01-19 03:22:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Not a major problem though. Keep paying off the card and use it very wisely. Doing this for a period of time might see the provider readjust your card. If you have problems managing debt try the free download of the debt management software at the url provided. I used it for quite some time and have found it to be an excellent resource to have in my debt management strategy.
2007-01-18 02:00:32 · answer #3 · answered by Anonymous · 0⤊ 0⤋
they have locked-out the card due to what they see as a defaulted-upon payment agreement forgettabout using that card forever, You can only payoff what you owe and pursue a new credit card with them however they are not likely to carry your name on a new card without a cosigner. Sorry.
2007-01-18 07:15:38 · answer #4 · answered by demonicunicorn 4 · 0⤊ 1⤋
Cause you screwed them. Call them and find out how many more payments you need to make before they will let you charge again.
2007-01-18 02:44:47 · answer #5 · answered by Tumbling Dice 5 · 0⤊ 0⤋