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Contributor
Posts: 208
Registered: ‎05-28-2012
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My not so wonderful week with capital one

I have been traveling with work all week, but after my 3 conversations with Capital One reps, I wanted to make sure I shared this with the forum.

 

Brief background - Opened up Cap 1 Plat VISA back in January, part of rebuilding credit. Paid on time every month no issues.

April - Purchased car, using auto loan capital one auto finance

 

Last week - made payments for both credit card and auto loan before leaving town, however, set up payment amount for credit card incorrectly(typed on mobile app, pressed 1500, when intended to be 150).Subsequently, they 1500 payment was returned by my bank for non payment. I checked Wednesday, realziing the error, and set up a new payment for the correct amount, however my card was now showing "restricted".

 

I dial the number listed, and the rep advises me she can take the payment, however I would have to speak with another dept regarding the restriction. I make the payment, get transfered, and then find out my credit line was permanently restricted due to "activity noted on my credit report".  I literally was :smileyfrustrated: when the rep said this. I advised that I view my credit files on a daily basis at this point, and if anything things have improved since january, however the rep, and the supervisor who got on the line said the same.

 

I asked when the decision was made to restrict the credit line and the supervisor said in late may. I find it ironic that that was also the time Capital One completed their HSBC/Orchard bank card merger. I had a orchard card 4 years ago that was IIBK, and was left to guess if that had anything to do with their decision.

 

I am now at a point of not know what to do, or if I should continue to pursue this with them, or start my rebuild with another card. Thoughts?

Credit Karma - 636 8-12-12 USAA
Credit Rebuilding Mode - Cap 1 Plat(500CL) SHOW MC(300CL)
Clean Up Mode - Goal - No New Apps till 6/2013
Valued Contributor
Posts: 1,772
Registered: ‎10-28-2011
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Re: My not so wonderful week with capital one

i doubt your issue with orchard caused this. considering cap one is bk friendly even if you've burned them in the past. I wouldnt sweat it. if they dont budge its simple move on and take your business elsewhere. have you looked into local cu's in your area?

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
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On the prowl for Chase Sapphire Preferred! APPROVED 12K!
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Contributor
Posts: 208
Registered: ‎05-28-2012
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Re: My not so wonderful week with capital one

I have, though my only banking relationship with a local CU is NFCU. Unfortunately, had to IIBK my old visa with them due to the ex, so can't go back that way.

Credit Karma - 636 8-12-12 USAA
Credit Rebuilding Mode - Cap 1 Plat(500CL) SHOW MC(300CL)
Clean Up Mode - Goal - No New Apps till 6/2013
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Registered: ‎04-09-2011
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Re: My not so wonderful week with capital one


jetsfan2012 wrote:

I have, though my only banking relationship with a local CU is NFCU. Unfortunately, had to IIBK my old visa with them due to the ex, so can't go back that way.


Hate to say it but First Premier would be a good one considering you PIF every month. They report to all 3 bureaus.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Contributor
Posts: 208
Registered: ‎05-28-2012
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Re: My not so wonderful week with capital one

95 dollar processing fee and 75 annual fee - I will pass. I rather have a store card

Credit Karma - 636 8-12-12 USAA
Credit Rebuilding Mode - Cap 1 Plat(500CL) SHOW MC(300CL)
Clean Up Mode - Goal - No New Apps till 6/2013
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: My not so wonderful week with capital one

If in earlt rebuilding mode any card is good including your restricted card.
               LIMITS IN CARD DESCRIPTIONS
Contributor
Posts: 208
Registered: ‎05-28-2012
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Re: My not so wonderful week with capital one

How does a card thats restricted help?

Credit Karma - 636 8-12-12 USAA
Credit Rebuilding Mode - Cap 1 Plat(500CL) SHOW MC(300CL)
Clean Up Mode - Goal - No New Apps till 6/2013
Valued Contributor
Posts: 1,772
Registered: ‎10-28-2011
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Re: My not so wonderful week with capital one


jetsfan2012 wrote:

How does a card thats restricted help?


well if cap one closes it and you pay the balance then it will report as a postive tradeline for the next 10 yrs.

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Contributor
Posts: 208
Registered: ‎05-28-2012
0

Re: My not so wonderful week with capital one

Interesting. Well there is a zero balance right now, so if in fact they do close it, I just dont want it to reflect as closed negatively.

Credit Karma - 636 8-12-12 USAA
Credit Rebuilding Mode - Cap 1 Plat(500CL) SHOW MC(300CL)
Clean Up Mode - Goal - No New Apps till 6/2013
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
0

Re: My not so wonderful week with capital one

If the FP offer you are describing is right, the $95is secured and refundable and the AF is bypassable if you close at the yearmark.



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
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