I just came across this article on the newswires about Capital One selling off some of their accounts to BofA and Wachovia. Read about it here: http://biz.yahoo.com/rf/030919/financial_capitalone_assetbackeds_1.html If you follow the newswires, in ONE WEEK Cap One went from selling $250m to $500m and finally $750m in credit card receivables. I wonder what this means for all of us Cap One cardholders here on CN. Does this mean our accounts are being sold (a la Providian)???
You misread the article. Cap1 didn't sell its credit card accounts - it sold bonds and used the credit card recievables as collateral.
OK that's better. And thanks for the translation! After millions of accounts being sold or transfered over the past 2 years, this is one I don't need to worry about!
BofA reports the CREDIT LIMIT BofA has 4.00% BT NO FEE "IF" they wanted to sell my account to BofA I wouldn't CRY... ...although my BT for CAPITAL ONE is 3.90%
