Wrongfully closed account (Transunion) (Capital one)

[Anonymous]

I'm an authorized user under my mothers credit card with capital one and recently I filed a dispute to correct the balnce owed on the account because I had paid it off to 0 from 507 from a limit of 750. When the results came back capital one closed the account and I'm highly upset because it dropped my transunion score from 700 to 583 which is 117 points! I'm even more upset because I only did it because I was planning on buying a car and to increase my odds of a good deal. The day I wanted to go is the day it dropped! Thankfully I checked before I went and got an inquiry, but I'm furious because now I'm impatient and chicagos winter is coming! I want to know that since I disputed it, will capital one be likely to re-open the account and back date it so that it shows my history which is from the beginning when the card opened and will transunion put my score back in the 700s?

[Anonymous]

You probably should have waited till it updated on cycle vs disputing it. 

For example: my Penfed is reporting a $144 balance (amount on the statement date). The balance is actually 0 because I paid it off 1 day after the statement cut. I'm not going to dispute it. There is no added advantage to do so. I will wait till the next statement cuts, it will then report 0 at that time. Typically balances update on the statement cycle, not when you pay. 

I dont know if they will reopen an account you disputed. You may have to reapply. 

[rmduhon]

Very unlikely in my experience. I had to have hubby's card off my reports asap (was an AU) after I was removed from the account so we disputed it. About a month later I was re-added and to this day (7 months later) it still hasn't shown back up on my reports.

[Anonymous]

I'm not exactly following the logic here. Cap One CLOSED the account as a result of a dispute via the bureaus???  That seems crazy.  Although as an AU, I wouldn't think you'd have standing to dispute anything on other than a "not my account" basis, which isn't what you wanted anyway. Maybe they thought it was a fraudulent account?

[lexus829]

Hmm youre an autorized user? were you also added as an authorized user to dispute,check balances etc?

maybe they think its fraud.... 

[UncleB]

I'm not sure about the OP's wording regarding her mother's account being closed (Capital One won't let an AU do that even if the AU calls and asks them to - that's one of the few things only the account holder can do).  Perhaps the OP means that her AU card was closed?

In any case, in the past whenever I've disputed anything regarding AU accounts (either for myself or others in my family) usually the AU account is simply removed from the credit report.  I've also had this happen a couple of times with a closed account when I disputed some of the information... rather than correct the wrong info, they removed the account completely.  In one case this was actually OK with me but the other case I would have preferred the account to remain.  Now I only dispute an authorized user account or a closed account if I'm OK with it being completely removed.

I'm not sure how much this information will help the OP after-the-fact, but possibly somebody else reading here might find it useful.

OP, if your mother has another credit card you might see about asking her to make you an AU on it, since it's going to be questionable if Capital One will be willing (or able) to start reporting this one to your reports again.

[Cynthianna]

Capital One just singlehandedly destroyed my credit in one quick sweep. I have--excuse me, had--4 accounts with them. Venture: 20k; platinum: 2250; biz card: 2750; and a Neiman Marcus card. There was 16k, 0, 1500, 0, balances, respectfully. On 11/28/16 I charged the sales tax on a car I purchased out of state, $4500, of which on 9/24/16, I had put 8k down on the car. My goal was to end up with lower payments on the car, meanwhile pay off the 16k as soon as my private car sold. If it took a few months, fine. I wasn't worried about the interest. Well, lo and behold, some exec at Cap One shut down all 4 of my cars in 11/15, the day after I charged the 4500 at DMV. No warning, just red restricted written on the website on my account page. From that point forward I have called numerous times only to be kicked from one dept. to the next, and in the process with a new condescending attitude once they saw my accounts on their comp screen. I'm like wth??! Mind you, I have made all payments timely, and previously paid off 4K in one chunk. This was a temporary "loan" via credit card as far as I was concerned. Due to health reasons I recently changed careers and needed some time to catch up to speed and get into a higher income level. Which is irrelevant. Now, two weeks later, my score has plummeted. I was in the 710 neighborhood a year ago, and I just saw a 596 and a 626!!! I was in the midst of shipping a refi on my home? Now that is out of the question thanks to Capital One. After being shuffled around many reps, each higher order than the previous, I was told "Sorry... There's nothing we can do." Sorry for the inconvenience. Inconvenience??! They just destroyed my financial future. I lost 26k in available credit, creating a huge hit on my utilization! Yes, I was enjoying several other 0% cards and balance transfers. All gone now. Other cc companies will surely follow suit after seeing that Cap Ine shut me off and kicked me like an injured dog to the curb. I even nicely asked for a reduction in interest. 21.15 on this card! Nope. They won't budge. They said my account is not currently offering a promo. No s--t!! They just shut them all off. Needless to say, I am now screwed. Thank you very much Capital One.

[Anonymous]

That sounds insane. But I guess in their risk-averse view, they had their reasons.  If so far all it has affected is your scores and utilization, I guess all you can do is keep with your original plan to pay it off quickly, and hope they lift the restriction, and hope the domino effect doesn't happen.