@rMayer wrote:Trying to rebuild my credit after a serious catastrophe when I was a teenager. Waited the 7 years for the baddies to be removed and last year I opened a secured credit card. It had a limit of $200. Went through a divorce recently and everything went haywire.
Long story short, my bank returned 2 payments from Capital One through this mess I'm dealing with divorce wise.
I have never been late and I always pay off the small balance that I have had.
When I called today to find out why it said something strange on my account they told me they've closed the account due to the returned payments.
My score, which was almost at 600 tanked to the high 400s. I'm devestated. I've spent a long time paying off things and keeping everything together.
The other issues on my credit report:
>$5,000 medical collections from years past when I had no insurance and was sick. (still trying to figure out the strategy in how to pay these off)
2 Student loans no lates.
1 car loan with 2 lates from years ago, but has been paid off 2 months ago.
3 satisfied judgements and 1 I will have paid off in 6 months.
I applied for a Discover secured card but was just denied. I probably should have waited but I saw this and freaked out.
My questions are... where do I go now? Should I wait it out? Is there any sense in calling Capital One and pleading?
My main concern is that in about a year my lease will be up on my car and I will need to apply for a loan - have I just messed that up?
Any help is appreciated.
Open Sky will issue a secured without a credit check I would get that one. Cap-1 is known for closing accounts secured or unsecured for returned payments its seen as big risk. You will prob be able to get a new account with Cap-1 in a year post closing of this one. I would check with a local CU as well for some help with a rebuilder card, on the national CU scene SDFCU is one you can also check out.
