topic Re: Question on Capital 1 QS Card in Credit Card Applications

Question on Capital 1 QS Card

Anonymous — Fri, 31 Jul 2015 04:46:10 GMT

Don't know if I'm posting in right topic form, if not please move..

OK, so I went to the pre-approve site for Capital One, got the Quick silver one card,and was like ok. I have the Venture one card with a $4,400 cl, So I thinking go 4 it, should get a higher SL then my 4400. NOT so I got $500.00 SL, was like ugh, so I hit the Credit line Increase button, Bam 7-10 day Message, so now I call the customer service line and get a guy from India CS , I ask for USA CS, Sorry you'll have to call tomorrow after 7am est. So I just tell the guy to just close the Account and he told me that the card would still report to my Credit Report as a Open/Closed Capitol One acct. I told him since I have not received and Activated it, it should not report to my credit report. is this right or ?? tks

Re: Question on Capital 1 QS Card

Anonymous — Fri, 31 Jul 2015 04:51:50 GMT

Even if the account was open for five minutes and you never activated the card, it will still report if closed.

Re: Question on Capital 1 QS Card

OmarGB9 — Fri, 31 Jul 2015 04:52:39 GMT

Any account you apply and get approved for will be reported on your CR regardless of whether or not you activate the card.

Re: Question on Capital 1 QS Card

Anonymous — Fri, 31 Jul 2015 04:54:35 GMT

Ok Thanks for the info. that sucks lol

Re: Question on Capital 1 QS Card

Anonymous — Fri, 31 Jul 2015 16:43:13 GMT

@Anonymous wrote:
Ok Thanks for the info. that sucks lol

I know.. Hang in there..

Re: Question on Capital 1 QS Card

Anonymous — Fri, 31 Jul 2015 23:36:10 GMT

Since you most likely already got hit with the 3 hp's you might as well keep the card open. Any hit your scores will take are going to happen regardless of whether you keep it open or close it.

If it's the QS1 card, it should be enrolled in the Credit Steps program automatically which means you'll get a cli after your 6th statement if you make on time payments each month. Some have reported being able to get a cli in 2-3 months in addition to a nice cli at completion of the Credit Steps program.

Re: Question on Capital 1 QS Card

Anonymous — Sat, 01 Aug 2015 02:30:43 GMT

@Anonymous wrote:
Since you most likely already got hit with the 3 hp's you might as well keep the card open. Any hit your scores will take are going to happen regardless of whether you keep it open or close it.

If it's the QS1 card, it should be enrolled in the Credit Steps program automatically which means you'll get a cli after your 6th statement if you make on time payments each month. Some have reported being able to get a cli in 2-3 months in addition to a nice cli at completion of the Credit Steps program.

yeap thats what the CS guy said "credit steps program" . I went and Emailed the EO office and they called me back today. see what happens ..

Thanks for the info Jupitermoon

Re: Question on Capital 1 QS Card

jawbrkr — Sat, 01 Aug 2015 02:33:15 GMT

@OmarGB9 wrote:
Any account you apply and get approved for will be reported on your CR regardless of whether or not you activate the card.

Actually I might disagree with that statement. I applied for a credit one card before I ever applied for any of the cards in my sig. I was approved for the card. When I received it, I never activated it and promptly called them to let them know I would not be needing it any longer and to cancel. They marked it as such and to this date I dont have it listed on my credit report. Only thing listed is the HP.

Re: Question on Capital 1 QS Card

OmarGB9 — Sat, 01 Aug 2015 03:19:18 GMT

I think that was a fluke lol. AFAIK all accounts report no matter what.

Re: Question on Capital 1 QS Card

Anonymous — Sat, 01 Aug 2015 05:39:33 GMT

I wonder if this is something you can dispute. You apply, what they offer you is not acceptable, so you decline the offer. I don't see why you should be forced to have a LOC appear on your CR as closed.

Re: Question on Capital 1 QS Card

OmarGB9 — Sat, 01 Aug 2015 05:55:04 GMT

I suppose it's because whenever you apply for a card, it's with the understanding that if approved, and account will be opened for you and a new TL will be reported to your CR. Nowhere does it state that you have to activate the card in order for the account to report.

Re: Question on Capital 1 QS Card

Anonymous — Sat, 01 Aug 2015 07:18:47 GMT

I applied for a marrick card back in 2013 got it in the mail never actavatied the card because i got sick and had surgery so the card sat in the envalope on the sticky glue in my dresser and ended up in collections for $289 i did not find this out until april of this year that my card was in collections all this time. i disputed it and it was removed in 2 weeks no problem.

Re: Question on Capital 1 QS Card

DaveInAZ — Sat, 01 Aug 2015 23:05:30 GMT

@OmarGB9 wrote:
Any account you apply and get approved for will be reported on your CR regardless of whether or not you activate the card.

I try to avoide absolutisms, like 'all' and any', as there's usually some exceptions.

I app'd & was approved for a Credit One card a couple years back when I was rebuilding from a BK7. When the card arrived and I looked over those terms again - high annual fee, horrendous APR with no grace period to avoid paying interest - I decided "No, I'm not going to do this to myself" and called and told them I did not accept the terms, would not activate, and wanted the account closed. They did, and while the app HP was on my CRs, there is no record of that account ever having existed on any of the 3 CRAs.

Re: Question on Capital 1 QS Card

Skye12329 — Sun, 02 Aug 2015 00:11:34 GMT

Well the issue here is you applied for a QS1. That card is more directed towards average credit. It's decent card to help rebuild. Why not just apply for the regular QS? Your limit would have been at least 3000 according to their website.

Re: Question on Capital 1 QS Card

Anonymous — Sun, 02 Aug 2015 20:47:35 GMT

Thanks for sharing your experience

Re: Question on Capital 1 QS Card

jawbrkr — Mon, 03 Aug 2015 23:51:28 GMT

@DaveInAZ wrote:
@OmarGB9 wrote:
Any account you apply and get approved for will be reported on your CR regardless of whether or not you activate the card.
I try to avoide absolutisms, like 'all' and any', as there's usually some exceptions.

I app'd & was approved for a Credit One card a couple years back when I was rebuilding from a BK7. When the card arrived and I looked over those terms again - high annual fee, horrendous APR with no grace period to avoid paying interest - I decided "No, I'm not going to do this to myself" and called and told them I did not accept the terms, would not activate, and wanted the account closed. They did, and while the app HP was on my CRs, there is no record of that account ever having existed on any of the 3 CRAs.

Exactly! That is exactly why I had mine closed. That was some nonsense terms they were offering. I suppose I could have read it better instead of wasting the hard pull. Good thing it was only 1 HP. Had it been 3, I would have lost it and burned Credit One's offices down....just saying. Dont judge!!