Credit Card Center Advertiser Disclosure†
12-07-2011 05:02 PM - edited 12-07-2011 05:04 PM
So I opened up a new Capital One credit card and I received it in the mail. I called customer service to activate my card, I got some lady who spoke broken English and couldn't understand me, so I hung up and went about my usual business. This was on November 27th.
I tried again today to activate my card and was told there was a restriction on my account. The gentleman asked me to confirm my identity with a few questions, I correctly answered them and he then said my account was open and ready to go.
I went online to create a user ID, it told me I still had a restriction. I called up again and the agent told me my account was closed because someone called up on November 27th saying they were me and saying this account is fraudulent. I asked to speak to a manager, and the manager told me the same thing. They received a call from someone who was able to confirm my identity asked to have the account closed. They could do nothing for me.
I'm assuming this is a huge mistake on their part. I never dealt with any identity theft, and if someone knew all of my personal information, I doubt they would be closing accounts and saying they never opened such an account. I'm assuming the incompetent lady I spoke to on November 27th somehow closed my account.
I'm over it and will open up a credit card with another bank tomorrow. My question is, applying, being approved for and having my card closed, will this hurt me in any way. Specifically my credit score?
12-07-2011 05:09 PM
It will lower your average account age, since you will now need to add an another account and only one month. You should appeal the closure, call recon or the executive offices for resolution.
12-07-2011 05:11 PM
How should I recon? The account manager told me the only thing I can do is reapply for another credit card.
12-07-2011 05:13 PM
I'm very sorry to hear that they closed your account. It sounds like the phone call that ended with you hanging up created this mess. There is nothing they can do for you once the account is closed. If you were dealing with one of their less desirable credit cards, I recommend moving on. I feel they would put a little more effort in correcting the problem if it was for one of their higher end cards. To answer your question- yes this hurts your credit for the fallowing reasons.
You gained a credit inquiry to open the account that is now useless.
Your score usually goes down temporarily due to opening new credit.
These effects are minimal compared to the bigger picture. May I ask what your credit scores are and a little briefing on your overall credit history? Maybe we can help you find a great card.
12-07-2011 05:19 PM - edited 12-07-2011 05:22 PM
My credit score, last time I checked, was 754. I'm in my young 20's, so my credit history is only a few years old, but never a late payment and I have the four following cards. I just paid off $15,000 in student loans, my credit utilization is about 6%.
Macy's American Express
Bank of America Platinum Rewards
Bank of America Gold
From my experience, I never want to become a Capital One customer. I've dealt with Bank of America and my Macy's American express customer service, I'm happy with them, I'm easy to please. I was looking for a new card, with cash rewards and some kind of intro APR. I'm not a high income earner nor a big spender, so the benefits of a card with an annual fee wouldn't do me much good. I'm thinking about opening a bank of America Cash rewards. My current BOA cards have a pretty low APR, and I'm happy with their customer service.
12-07-2011 05:43 PM
That's a great credit profile. I would avoid capital one until your credit length history supports one of their prime cards. I would recommend either converting one of you BoA cards or applying for the AMEX blue everyday cash or possibly a chase freedom.
12-07-2011 06:00 PM
I actually just dealt with BOA customer service a few minutes ago with a quick question, the lady was super friendly and super helpful. My encounter today with Capital One reminds me of those Discover commercials with the "my name is peggy", they kept transfering me to people who couldn't help. I'm thinking about a new BOA card, I've been with them since 2008 and I never had a complaint, banking with BOA, that's another story.
I'm thinking about the new cash rewards card. Along with doing this, should I ask for a credit line increase on my other cards I had since 2008? One has a limit of $4,000 and the other is $7,500?
12-07-2011 06:51 PM
I'm sorry I think I missed something. You weren't able to communicate with the CSR on the 27th so you didn't try again until today, ten days later?
12-07-2011 06:54 PM
I was unable to communicate with the CSR on the 27th. All I wanted to do was activate the card, I wasn't aware of these problems until today. I waited 10 days, mainly because I'm very busy and there was no immediate need to use the card. This might not have been the right decision, but it's what I did.
Anyway, despite the slight ding in my score, I'm happy i'm no longer a Captial One customer. I expect good customer service, they didn't provide me with that, so I move on.
12-07-2011 07:13 PM
I have the Boa cash rewards card and do like it. I would try and have an existing BoA card converted into this. By doing this, it would save you the inquiry and the status of a new account opening....Kind making it a wash with the whole capital one thing. Also, wait until they approve the new card to ask for CLI due to the fact that you will likely get more credit in the card than any CLI and can transfer some of the credit line to another card.
What exactly was the point of the previous comment on why you waited 10 days?? SILLY
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.