PRA & Capital One

[evsports7]

Good Day Everyone!

I currently have 1 collection left on all three credit reports. It is …………PRA for capital one for an amount of $1,592.

This will fall off in September 2016. I also have the capital one secured card as well since February of 2016.

I cannot seem to get approval for their unsecured cards and I am thinking it’s because I have a collection for them.

When this collection falls off, and I try to reapply for the secured card, can capital one still show that I owe $1,592 for a collection that is no longer on my reports? Will this affect my approval.

Thank you so much.

[RobertEG]

Exclusion of the collection is separate from exclusion of adverse information reported by the creditor.

Account balance is not per se derogatory information.

What derogs have been reported by the creditor?

As for whether the history will impact future credit with them, credit report exclusion wont really be a factor, as it is the same creditor.

Credit report exclusion will prevent others from becoming aware that the debt is delinquent by a simple pull of your credit report, and seeing an unpaid collection.

However, since it is the same creditor, they do not need to obtain the info from your credit report.

They have their own internal account records, and their knowledge of the unpaid, delinquent debt will not be removed simply by credit report exclusion of the related collection.

[evsports7]

Thanks for the info!

Pretty much to sum it up, this still could affect me when I decide to apply for an unsecured card with captial one. 

[Anonymous]

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@evsports7 wrote:

Good Day Everyone!

I currently have 1 collection left on all three credit reports. It is …………PRA for capital one for an amount of $1,592.

This will fall off in September 2016. I also have the capital one secured card as well since February of 2016.

I cannot seem to get approval for their unsecured cards and I am thinking it’s because I have a collection for them.

When this collection falls off, and I try to reapply for the secured card, can capital one still show that I owe $1,592 for a collection that is no longer on my reports? Will this affect my approval.

Thank you so much.

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They will still be aware of it via their own internal records. I would try to get a lowball settlement, then app for unsecured.

[kennerchick]

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@evsports7 wrote:

Thanks for the info!

Pretty much to sum it up, this still could affect me when I decide to apply for an unsecured card with captial one. 

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My husband and I both had capital one back in 2011 problems happened beyond our control and we couldn't pay so it was charged off in 2012.  Capital one finally sold to PRA and they were added to our credit reports Feb 2015.

I've had Capital one QS1 and Platnium cards since Feb or March 2016 and my husband qualified with his scores last month to get QS1 and Platnium cards with Capital One,

So you will be able to get a new card with them.  Just have to have the right credit.  Keep going through the pre approval process.  That's what we did.

Good Luck!

[kennerchick]

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@evsports7 wrote:

Good Day Everyone!

I currently have 1 collection left on all three credit reports. It is …………PRA for capital one for an amount of $1,592.

This will fall off in September 2016. I also have the capital one secured card as well since February of 2016.

I cannot seem to get approval for their unsecured cards and I am thinking it’s because I have a collection for them.

When this collection falls off, and I try to reapply for the secured card, can capital one still show that I owe $1,592 for a collection that is no longer on my reports? Will this affect my approval.

Thank you so much.

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I wouldn't pay PRA a dime!  That's just me though.  They won't do a Pay For Delete.  I would just wait and let it drop off.  You may be able to get early exclusion with the CRA's.  Can't hurt to try that.

[dave36021]

I had 4 accounts fromCapital One on my reports and have not settled yet. I have two unsecured cards from Cap One now. They may not be approving because of what you file looks like presently. They are forgiving and will let you back in. 

[Anonymous]

Member lay off the crap about PRA. No agency has to do a PFD. The CRAs even have it in their rules that companies shouldn't do it.

[evsports7]

thanks for all the information guys, i will just wait until it falls off later on this year. Not paying PRA a dime "even though the collection is fault, does that sound selfish "