Are you wondering “why my Capital One account is restricted”? Then you are not alone, a lot of people end up restricted due to a variety of reasons. Capital One is known for being one of the best banks in the US, Canada, and the UK.
Their credit cards are some of the most popular ones in these countries, with its network so large that the credit card loans are around 47.3% of the total loan amounts. Since a lot of people use the Capital One credit card for loans, having it restricted can be very problematic. Here’s why the card might be restricted and how you can fix it.
Why Is My Capital One Credit Card Restricted?
Just like any other bank, Capital One will issue restrictions on a certain account when they believe the account does something abnormal or strange. For example, if you go over the credit limit multiple times, they will restrict it until you are under that limit. They will also reduce the maximum credit limit automatically if you surpass it.
While they don’t cancel the card, the Capital One restrictions are more of a suspension of the card. They can also restrict it when they detect fraudulent activity from the card too. If a very strange payment is attempted, they might block your credit card automatically, and the transaction is canceled. Capital One might restrict accounts that try to bypass their reward points system to stay away from financial losses.
Also, they might stop your credit card account or restrict it when you shop items you never shopped before or when you make some large changes to the account. Also, when you buy things in another country, that will look suspicious, and they will choose to restrict it. Even if you buy a lot of items within a short amount of time will make them restrict the account.
Restricted doesn’t always mean permanently closed. The restriction most likely means that you made some unusual changes to the account, or you went over the limit.
Don’t Miss: How to Prequalify for a Chase Credit Card?
How to Remove Restriction On Capital One Credit Card?
Instead of searching “why my Capital One account is restricted” online, it’s a much better idea to talk with them directly at 1-800-227-4825 for personal credit card products or at 1-800-867-0904 for the small business credit card. They will let you know if there’s any sign of fraudulent activity or why the account is stopped in the first place.
Most of the time, the reason why your Capital One account is stopped is mostly due to having too much credit. The solution here is to pay off all your outstanding debt to reopen the account. Usually, that will happen automatically, or you might have to call them directly.
As we mentioned earlier, if any activity out of the ordinary appears on your credit card, they will stop it automatically. They have a dedicated fraud department, and they assess everything to see what happened. In fact, Capital One might even close the account just to avoid issues.
It’s always a good idea to call the customer service directly at 1-800-227-4825 (personal credit cards) or at 1-800-867-0904 (small business credit cards).
Are There any Penalties?
Thankfully, Capital One is not going to penalize you in any way. However, as long as your credit card account is inactive, you can’t get more money from them. But you need to repay the old debt and you will be good to go. That’s a very important aspect to keep in mind.
Don’t Miss: The Right Way to Cancel a Credit Card Account.
As you can see, if you’re wondering “why my Capital One account is restricted”, there’s no real need to worry. It most likely means that you made some unusual changes to the account, or you went over the limit. Contact the Capital One team, and they should be able to offer you the assistance and support you need!