Identity Theft?
Earlier this month, I wrote a post about the benefits of obtaining one's credit rating. As a user of bzzagent, I was recently invited to take advantage of a Capital One Credit Card. Initially, I was skeptical about the promotion. When I read that if a bzzagent is approved for a card, they will receive a $75 credit on their credit card.
I quickly debated the pros and cons. Did I really want another credit card for a mere $75 gain? I thought about it and decided to apply for the card early last week. Just today I received a piece of mail from Capital One. Unfortunately, the letter seemed kind of thin. It definitely didn't have a credit card inside. No worries, I said to myself -- maybe they just need more information before they could approve my credit card. Instead, what I read shocked me.
In the letter they told me that they were unable to grant me credit at this time because of my credit standing. I was shocked. This was the first time I had ever been turned down for a credit card. Thoughts quickly raced through my head. I always pay my credit card off on time, never carry a balance (except last year when I used my MBNA and Citibank cards to do Credit Card Arbitrage). So what could it be?
At the moment, I am still waiting for my credit report to come back to me.
Let's hope that I haven't become a victim of identity theft. Perhaps doing the credit card arbitrage affected my credit rating. After hearing the news of the rejection, I immediately lowered the limits of some credit cards that I don't use.
Has anyone out there experienced anything similar? I will definitely post a followup email when I obtain my credit report. Let's hope that I haven't become a victim of identity theft. Fingers crossed.
I quickly debated the pros and cons. Did I really want another credit card for a mere $75 gain? I thought about it and decided to apply for the card early last week. Just today I received a piece of mail from Capital One. Unfortunately, the letter seemed kind of thin. It definitely didn't have a credit card inside. No worries, I said to myself -- maybe they just need more information before they could approve my credit card. Instead, what I read shocked me.
In the letter they told me that they were unable to grant me credit at this time because of my credit standing. I was shocked. This was the first time I had ever been turned down for a credit card. Thoughts quickly raced through my head. I always pay my credit card off on time, never carry a balance (except last year when I used my MBNA and Citibank cards to do Credit Card Arbitrage). So what could it be?
At the moment, I am still waiting for my credit report to come back to me.
Let's hope that I haven't become a victim of identity theft. Perhaps doing the credit card arbitrage affected my credit rating. After hearing the news of the rejection, I immediately lowered the limits of some credit cards that I don't use.
Has anyone out there experienced anything similar? I will definitely post a followup email when I obtain my credit report. Let's hope that I haven't become a victim of identity theft. Fingers crossed.
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