CC closed by bank

[Anonymous]

You're simply making room for a better card. Best of luck!

[Anonymous]

I closed my Credit One Account on the one year mark. No rewards, they charge an annual fee, low credit line, it takes too long to process payment and finally they charge you interest on every purchase and from the day the transaction happen. It's a hair better than the worst (premier). There are far better starters for low scores. 

[Anonymous]

I did apply for another Capital One card but they would only give me another basic platinum master card with a $500 limit.

I suspect it is because I've had my current card for only a year as of Jan. 29th.

Best I build up another year of on-time payments I suppose.

[gdale6]

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@Anonymous wrote:

I went ahead and just closed the account.

Now I'm just down to one credit card which is the Capital One platinum mastercard

Is it even worth trying to get another card to build credit with my current scores as low as they are?

I've got an old charge off due to age off in Sep. of this year, one medical collection and a return payment on an old bank acct. Other than those three items, my credit reports are clean.

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I see from your post further down you have gotten a second Cap-1 card and thats good. You actually need 3 open revolvers to drive your Fico, I might go for the secured OpenSky you can get it without a HP. I would also work on getting the medical collection and the old bank amount settled.

For unpaid medical debt that is reporting on your CR:

1. Call the OC and see if you qualify for Charity Care
2. If not then ask that they recall the collection in exchange for full payment
3. Send the reporting CA a PFD offer
4. Google the HIPAA Process and contact its creator for help

[bk510]

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@Anonymous wrote:
Doesnt sound like they closed it, just locked you out for "identity verification". More likely, they realized they weren't going to get any interest out of you.

I would close it and move on to better things. Hit up a credit union for a no-AF, no frills card if you are rebuilding. Credit One is downright predatory.

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I get Credit One mailer all the time and got another one today.....This one says "kevin you wouldnt believe how much you are pre approved for"

So I open it and it says "UP TO 1500" lol......It went st8 to tha shredder as it always does.

yeah do your self a favor and close that sucker asap.

Goodluck OP,

[bk510]

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@Anonymous wrote:

I went ahead and just closed the account.

Now I'm just down to one credit card which is the Capital One platinum mastercard

Is it even worth trying to get another card to build credit with my current scores as low as they are?

I've got an old charge off due to age off in Sep. of this year, one medical collection and a return payment on an old bank acct. Other than those three items, my credit reports are clean.

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Go check Cap1's pre-Qual every 2 weeks......And see what comes up, I would not be surprised to see QS1 or something else, 

[degs138]

Every time someone signs up for a predatory lender a US Senater has to buy a bigger wallet. The government needs to get rid of these bottom feeders. Debtors prisons were deemed illegal by the constitution.

[Anonymous]

BOA did my DH like that except they simply blocked payments on their website from his account, they posted a big red message saying send us your last two banks statements to prove you own this account. Me being overly cautious with giving a non-primary bank my bank account info, told him no, send it through our banks bill pay...It takes a day longer to post but oh well. I think banks get to big for their britches. If I wanted you to know what's in my account, I would have it with your bank...Not only that unless it's AA or you're verifying the initial CL approval then you don't need that info IMO.

Credit One did you a favor albeit wrong timing with you having only one open card..but overall it would save you the annual fee billed monthly after your first year...Credit card statements to pay a fee essentially if you are the PIF type or didn't use it every month. I'm closing mines now already got hit with fraud on it last month and CL hasn't budged since first day.