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Contributor
Candice
Posts: 161
Registered: ‎08-14-2008

Capital one permanently restricted?

Sorry if this should go into credit cards forum instead.... Anywho, right now I have a revolving capital one account reporting to all 3 bureaus since June of 2006. It is my oldest account - I was really lousy with payment and even though in the credit reports from EX/TU/EQ it shows paid or paying as agreed and an open revolving account it is not - capital one has told me it was permanently restricted. I sent them a GW last week asking to reconsider opening the account. My question is has a similar situation ever happened to anyone else regarding Capital One and "permanently restricted"?
Age: 24 | AAoA: 2.0 Years | TU Fico: 626 (April 2013) | EX Fako: 608 | EQ Fico: 601 (April 2013)
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Contributor
Optimistic08
Posts: 96
Registered: ‎04-20-2008

Re: Capital one permanently restricted?

Yes. Cap1 is a strange bird. Once they "restrict" a card, they won't reopen. But they are all too happy to open up a new one for you. It doesn't make a heck of a lot of sense, but they rarely do anyway lol.

It's like having a closed acct with any other creditor, but you still get the benefit of it showing up on your report as open and pays as agreed with a credit limit, so it appears it will continue to help utilization and age. At least that's how it has been on my report. They gave me a second account and when I went to register it online, there was my old "restricted" account. All 3 of my reports continue to show the old one as open, with a credit line, and pays as agreed. The new one is now reporting as well.
Valued Contributor
TheNewWorldMan
Posts: 2,374
Registered: ‎03-15-2007

Re: Capital one permanently restricted?

That is a hoot...but hey, if it's a positive TL, why rock the boat?
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