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New Contributor
Dreamwalker
Posts: 107
Registered: ‎02-28-2013

This is kind of strange...Cap One is still reporting my account as open on credit reports?

So, I cancelled my Capital One Secured card at the end of February and it still reports as open to all the credit bureaus. Is this a typical thing? My card is cut up, my deposit has been returned, so I'm not really worried about charges. How does this affect how other creditors look at me? I understand that tradelines stay on for 10 years.
Walmart Store Card: $600 & Amazon Store Card: $1200
Amazon.com Visa: $500 & Chase Freedom: $3000
US Bank REI Visa Signature: $5500
Discover It: $100

TU-654 [03/18/2014]
Moderator
Revelate
Posts: 6,806
Registered: ‎12-30-2011

Re: This is kind of strange...Cap One is still reporting my account as open on credit reports?

[ Edited ]

Dreamwalker wrote:
So, I cancelled my Capital One Secured card at the end of February and it still reports as open to all the credit bureaus. Is this a typical thing? My card is cut up, my deposit has been returned, so I'm not really worried about charges. How does this affect how other creditors look at me? I understand that tradelines stay on for 10 years.

If it's at zero balance and it's garnering pretty little OK's in payment history, it's nothing but goodness :smileyhappy:.

 

As long as the account is closed, and you're not going to get dinged with an unexpected AF at some point, I'd simply sit quietly and take however long they would allow this oversight to run as an extra bonus.  Thank you sir, may I have another? :cattongue:


Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 672, Wally TU 686, EX 702 (04/14)
Goal Score: 700 in all three (01/01/15)


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New Contributor
Dreamwalker
Posts: 107
Registered: ‎02-28-2013

Re: This is kind of strange...Cap One is still reporting my account as open on credit reports?

As long as no one thinks it odd that I have a $351 credit limit, why not?

Walmart Store Card: $600 & Amazon Store Card: $1200
Amazon.com Visa: $500 & Chase Freedom: $3000
US Bank REI Visa Signature: $5500
Discover It: $100

TU-654 [03/18/2014]
Valued Contributor
Rhaeny
Posts: 1,502
Registered: ‎07-24-2011

Re: This is kind of strange...Cap One is still reporting my account as open on credit reports?


Dreamwalker wrote:

As long as no one thinks it odd that I have a $351 credit limit, why not?


Even when it reports closed the $351 limit will show.


Major CC's - Barclay's ($3.3K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($15K) | Navcheck ($22K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($10K) | Amex Delta ($10K)
Store CC's -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2K) | Sams Club ($1.1K)
Goal: Age with grace to 750 across the board
Last app: 3/3/2014
Valued Contributor
dodgerslv
Posts: 1,471
Registered: ‎06-16-2012

Re: This is kind of strange...Cap One is still reporting my account as open on credit reports?


Dreamwalker wrote:
So, I cancelled my Capital One Secured card at the end of February and it still reports as open to all the credit bureaus. Is this a typical thing? My card is cut up, my deposit has been returned, so I'm not really worried about charges. How does this affect how other creditors look at me? I understand that tradelines stay on for 10 years.

same here...I closed my Best Buy Rewards Zone MC (300 limit). back in November of last year and it wasnt until this month that it finally reported as "closed". Was about to call them again so it may be typical of Cap One to do this.

last app: 4/14/14---Barclays US Airways (10k)---US Bank Flex Travel Rewards (7.5K)---no more applications till September (Amex Delta)

cards in wallet for daily use: Chase CSP(15k), BofA Privilege(30K), Amex BCP(2K), Green, Discover (8k)
cards for travel: Citi AA WEMC(20K), Citi Prestige(11.5K), Chase Ritz(20K) or Marriott(5K), Barclays Arrival(5.5K)



New Contributor
Paperboy999
Posts: 72
Registered: ‎10-06-2012

Re: This is kind of strange...Cap One is still reporting my account as open on credit reports?

How long did it take you to get your deposit back? I just closed mine last week and I was curious.
11/09 EX 564
10/12 EX 673 TU 674
1/13 TU 686
2/13 EX 701
Goal 750+
Regular Contributor
RTOrockstar
Posts: 232
Registered: ‎02-02-2012

Re: This is kind of strange...Cap One is still reporting my account as open on credit reports?

I closed my secured Cap One about 2 weeks ago and it's already showing as closed.

Wallet:
CapOne QuicksilverOne $500/VS $700/Express $500/Walmart $2000/Old Navy $600/SC Telco Visa $1K/HH Gregg $1500/Target REDcard $200



Frequent Contributor
Countingpennies
Posts: 426
Registered: ‎02-14-2013

Re: This is kind of strange...Cap One is still reporting my account as open on credit reports?

I closed a Cap1 somewhere around 1998. It's been showing as open/current ever since. Somewhere in the fine print notes it states inactive. I've been doing some post-BK CR cleanup, and in the process it finally dropped off TU and EQ, but not EX. My oldest account on TU and EQ is 3 mos., on EX it's 19 yrs. Doesn't appear to be helping my scores any, EX is about 50 points lower than the other two.

A bit off-topic, but I thought it might be interesting.

New Contributor
Dreamwalker
Posts: 107
Registered: ‎02-28-2013

Re: This is kind of strange...Cap One is still reporting my account as open on credit reports?


Paperboy999 wrote:
How long did it take you to get your deposit back? I just closed mine last week and I was curious.

When I called to cancel I was told that I had to wait for any additional charges to come through (about 7 days), and at that point could either wait 30 days for them to mail it, or call them again after the account was closed and have them 'rush it' in which case it would be to me in 7-14 days.

 

From start to finish, it took about two weeks.

Walmart Store Card: $600 & Amazon Store Card: $1200
Amazon.com Visa: $500 & Chase Freedom: $3000
US Bank REI Visa Signature: $5500
Discover It: $100

TU-654 [03/18/2014]
Moderator
Revelate
Posts: 6,806
Registered: ‎12-30-2011

Re: This is kind of strange...Cap One is still reporting my account as open on credit reports?


Countingpennies wrote:
I closed a Cap1 somewhere around 1998. It's been showing as open/current ever since. Somewhere in the fine print notes it states inactive. I've been doing some post-BK CR cleanup, and in the process it finally dropped off TU and EQ, but not EX. My oldest account on TU and EQ is 3 mos., on EX it's 19 yrs. Doesn't appear to be helping my scores any, EX is about 50 points lower than the other two.

A bit off-topic, but I thought it might be interesting.


It's near impossible to get a EX FICO now without a lender pull.  Depending where you got your score from, may not mean much; however, Inactive tradelines tend not to get counted so you're likely correct in stating it's not helping.  

 

The neat trick would be if you could get it active somehow, now that would be credit recovery with style!


Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 672, Wally TU 686, EX 702 (04/14)
Goal Score: 700 in all three (01/01/15)


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