cancel
Showing results for 
Search instead for 
Did you mean: 

Closed Capital One Secured Reporting as Paid Loan?

tag
Anonymous
Not applicable

Closed Capital One Secured Reporting as Paid Loan?

Hello everyone,

 

I closed a secured Capital One card about a week ago. I got a notice today that I got a 10 point bump on EX so I checked to see what it was for. It said change in account status. It went from paid as agreed to Paid loan? I'm not complaining but just found it a little odd.

 

Has anyone else had the same experience?

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Closed Capital One Secured Reporting as Paid Loan?


@Anonymous wrote:

Hello everyone,

 

I closed a secured Capital One card about a week ago. I got a notice today that I got a 10 point bump on EX so I checked to see what it was for. It said change in account status. It went from paid as agreed to Paid loan? I'm not complaining but just found it a little odd.

 

Has anyone else had the same experience?


I just closed my Cap1 secured card today.  Will report back once my credit report updates.  I would love to get a nice bump in my scores.  Def looking forward to getting my $800 security deposit back.  

Message 2 of 6
exCYter
Valued Member

Re: Closed Capital One Secured Reporting as Paid Loan?

strangely enough, I just emailed capital one asking if they could reopen my Platinum card($2700 secured, $300 unsecured for $3k total credit line).  I closed it a few months ago and when it was finally paid off last month, it dropped my credit score by 19-30 points!  I had that card for 5+ years, cancelling it killed my AAoA.  I called to ask to reopen, they said they only allow that sometimes within 30 days but I was outside that window.  Reconned to EO via email.  

 

 

Scores as of 5/18/16: EQ 674, TU 653, EX 635
Message 3 of 6
Anonymous
Not applicable

Re: Closed Capital One Secured Reporting as Paid Loan?


@exCYter wrote:

strangely enough, I just emailed capital one asking if they could reopen my Platinum card($2700 secured, $300 unsecured for $3k total credit line).  I closed it a few months ago and when it was finally paid off last month, it dropped my credit score by 19-30 points!  I had that card for 5+ years, cancelling it killed my AAoA.  I called to ask to reopen, they said they only allow that sometimes within 30 days but I was outside that window.  Reconned to EO via email.  

 

 

 

Where are you seeing that score drop? Closing an account shouldn't affect your AAoA for 10 years. If you're seeing it on Credit Karma, it's not a real drop.
Message 4 of 6
exCYter
Valued Member

Re: Closed Capital One Secured Reporting as Paid Loan?

Seeing it on MyFico 3B scores so its real.  If its not AAoA, perhaps it was just the credit limit associated with that account?  

 

Reporting as Paid Account with notes of "account closed at customer's request" on exp,  Pays account as agreed, "account closed at consumer's request" on eq

Scores as of 5/18/16: EQ 674, TU 653, EX 635
Message 5 of 6
Anonymous
Not applicable

Re: Closed Capital One Secured Reporting as Paid Loan?


@Anonymous wrote:

Hello everyone,

 

I closed a secured Capital One card about a week ago. I got a notice today that I got a 10 point bump on EX so I checked to see what it was for. It said change in account status. It went from paid as agreed to Paid loan? I'm not complaining but just found it a little odd.

 

Has anyone else had the same experience?


My Cap1 cards reported the same way after I closed them.

Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.