Cap One restricted card; can it be reopened

[grillandwinemaster]

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@Anonymous wrote:

I'm in the process of clearing up some late payments and baddies on my CR. I have a capital one platinum MC with a 500 CL opened in Oct 2014 back in June 2015 I went over my CL and had a balance of 1,000 on the credit card. I made small payments toward paying it down but did miss payments one 120 days missed payment in 2015 and one 60 day and 120 day in 2016. Sometime in early 2016 they restricted the card.(I lost the card so I was not worried about paying them as quickly as I should) I would pay whenever I could and did not communicate with Cap One about my situation or make payment arrangements. 

I have been making on time payments for the last 5 months 100.00 or more and about a week ago I just paid off the entire balance (754.00). My questions is since the account is restricted and I no longer have the card. Will i need to reapply for a Cap One card or is it possible that they can reopen my old account and reissue me a new card? I know that I don't want to close the account but since I no longer have the card and it is now paid in full it will remain a dorminate account with a 0 balance. 

All response are appreciated thank you! 

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If you were a Capital1 underwriter, what would you do? I know what I would do if I were a Capital One underwriter...

[Melisaw24]

I am in the same situations. Talked to a capital one customer service agent and I was informed that I must wait 90 days after making a full payment for the restrictions to be lifted

[happypill]

I have an interesting story about this.  Way, way, way back in about 2005 I think, I had a Capital One small business card (reported to personal).  I think the limit was around $5k.  In 2007, I returned to business school and my credit profile shrank, pretty much as planned since I would have very little income for the 2 years I was in school.  Capital One reduced the balance eventually to around $500, then when the card expired, the just declined to send a new one so I had this account but no way to actually spend any money on it with no card.

My credit took a huge hit in the 2009-2010 timeframe as I graduated from school and the company I was set to join (financial institution), went into bankruptcy.  After about 9 months I couldn't keep up with my cards any more and they were pretty much all charged off.  Except, this Capital One account wasn't CO because it had zero balance because I didn't have a card to use for several years.

Fast forward to around 2014 as I started my rebuild and I checked my credit report (man was it ugly at the time), and I saw that this Capital One account was still sitting out there not closed with a $500 limit so I called and ask if they'd end me a new card and they agreed.  So, about 6-7 years after I last had a card to this account, it was open and active again; they never closed it for non-use or anything.

This 10+ year old account with clean history was extremely helpful in my rebuild, adding to AAoA as well as the clear payment history, so I feel really lucky about how it worked out.  It's still by far the oldest account in my personal profile and they've actually given a CLI on it since.  So, if you wait long enough, they might be willing to open the account again for you.

[fltireguy]

In Capital One's world, Restricted = CLOSED

[fltireguy]

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@grillandwinemaster wrote:

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@DeeBee78 wrote:

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@Anonymous wrote:

I'm in the process of clearing up some late payments and baddies on my CR. I have a capital one platinum MC with a 500 CL opened in Oct 2014 back in June 2015 I went over my CL and had a balance of 1,000 on the credit card. I made small payments toward paying it down but did miss payments one 120 days missed payment in 2015 and one 60 day and 120 day in 2016. Sometime in early 2016 they restricted the card.(I lost the card so I was not worried about paying them as quickly as I should) I would pay whenever I could and did not communicate with Cap One about my situation or make payment arrangements. 

I have been making on time payments for the last 5 months 100.00 or more and about a week ago I just paid off the entire balance (754.00). My questions is since the account is restricted and I no longer have the card. Will i need to reapply for a Cap One card or is it possible that they can reopen my old account and reissue me a new card? I know that I don't want to close the account but since I no longer have the card and it is now paid in full it will remain a dorminate account with a 0 balance. 

All response are appreciated thank you! 

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How on earth did you get Capital One to let you go over your limit? When I was stuck in starting limit purgatory ($300, $500), I could never go over the card limit. 

Even when I had higher limits, I was still unable to get them to let me go over the card limit. I tried a $2,100 purchase once when I had a $2,000 limit and was declined. 

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Probably a lot of late fees, over limit fees, and lots of interest fees. If the OP was making random/scattered payments but not bringing the account current, that's a lot of late fees. 

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Or, returned payments

[pip3man]

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@fltireguy wrote:

In Capital One's world, Restricted = CLOSED

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Not necessarily! A long time ago my Capital One Card was restricted due to a returned payment and near maxed out balance. After I paid it off to zero, they lifted the restriction. The account is still open and active till date, the only downside is - it hasn't really seen a CLI but then it could be because it's a starter Platinum card.

[Anonymous]

I paid mine off in full after it had went into restriction for about 3 to 4 months. I received a notice from them about a month later stating that if I kept my account in good standing for 3 months (not hard to do with 0 balance and no charging privledges) they would restore use of the card. Like clockwork 3 months later I got a notice and sure enough my privileges had been reinstated. Don't know if other criteria were involved but it's definitely possible to get it out of restricted status.

[Anonymous]

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@DeeBee78 wrote:

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@Anonymous wrote:

I'm in the process of clearing up some late payments and baddies on my CR. I have a capital one platinum MC with a 500 CL opened in Oct 2014 back in June 2015 I went over my CL and had a balance of 1,000 on the credit card. I made small payments toward paying it down but did miss payments one 120 days missed payment in 2015 and one 60 day and 120 day in 2016. Sometime in early 2016 they restricted the card.(I lost the card so I was not worried about paying them as quickly as I should) I would pay whenever I could and did not communicate with Cap One about my situation or make payment arrangements. 

I have been making on time payments for the last 5 months 100.00 or more and about a week ago I just paid off the entire balance (754.00). My questions is since the account is restricted and I no longer have the card. Will i need to reapply for a Cap One card or is it possible that they can reopen my old account and reissue me a new card? I know that I don't want to close the account but since I no longer have the card and it is now paid in full it will remain a dorminate account with a 0 balance. 

All response are appreciated thank you! 

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How on earth did you get Capital One to let you go over your limit? When I was stuck in starting limit purgatory ($300, $500), I could never go over the card limit. 

Even when I had higher limits, I was still unable to get them to let me go over the card limit. I tried a $2,100 purchase once when I had a $2,000 limit and was declined. 

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A lot of times if a charge is under $25/50 they don't run it to get approval (not all times but most) and that's how DD went over her limits and then she got it with OL fees, late fees and higher interest fee..really anything cap one could throw at her...

[Anonymous]

I too fell behind 120 days with my payments. They offer me the unrestricted offer letter on 11/07/2017 and told me that as long as I made the payment my card will be unrestricted , I made the payment that they ask for on 11/08/2018 today is 11/14/2017 , they have lived up to their word. The restriction was lifted today. I can now use my card again. Thank you capital one.

[Anonymous]

I applied for a Savor card about a month ago.  Got a $3k CL right on the spot.  I think I may have made a post about it here but can't seem to find it.  Card came in while I was away from home working.  I got home 4 days ago and I activated it.  At once, it was placed into "Restricted" status.

They claim they need "additional verification" of my info.  I have 3 other cards with them.  They have all kinds of info from me already.  It's been restricted for 4 days now.  The customer rep said they would call within 3 days once my drivers license image was uploaded to thier doc center..  Still waiting on thier return call. 

I'm hoping that it's not permanently restricted for whatever reason.  Not sure if they are playing games.  Has anyone else had this sort of restricted issue before?