topic Re: Capital One just screwed up my account today. in Credit Cards

Capital One just screwed up my account today.

HiiiPoWeR — Tue, 10 Dec 2019 22:26:14 GMT

I called Capital One today for a simple card replacement and the rep accidentally closed my entire credit account, and it can't be reopened because the rep reported as fraudulent. I spoke with the manager over at the fraud department and they apologized on behalf of the rep and said they will have to open a new account with a NEW TRADELINE sometime next week. My score is about to take a big hit because this was my oldest & largest credit line.

Re: Capital One just screwed up my account today.

CreditCuriosity — Tue, 10 Dec 2019 22:34:18 GMT

Sorry about the mess up, what a bummer! I would try to get it escalated to a supervisor if they indeed made the mistake. The account will still report for 10 years so you won't take a huge hit unless your utilization sky rockets due to losing available credit. Hopefully call back and try to have it reinstated as sounds like they made the mistake and Cap1 has opened cards in the past for people even if they closed them(being customer up to some time period) as they did this for me years and years ago, but obviously policies change possibly.

Re: Capital One just screwed up my account today.

thornback — Tue, 10 Dec 2019 22:45:13 GMT

Yeah... ^^ agree with above; escalate this up to the supervisory level at least...

Re: Capital One just screwed up my account today.

M_Smart007 — Tue, 10 Dec 2019 22:45:30 GMT

Sorry OP, ..That is horrible. I guess for any card replacements I will try to do online if possible.

I would go with what CC said about escalating to a Supervisor.

sure hope it works out for you.

Re: Capital One just screwed up my account today.

HiiiPoWeR — Tue, 10 Dec 2019 23:16:45 GMT

@CreditCuriosity wrote:
Sorry about the mess up, what a bummer! I would try to get it escalated to a supervisor if they indeed made the mistake. The account will still report for 10 years so you won't take a huge hit unless your utilization sky rockets due to losing available credit. Hopefully call back and try to have it reinstated as sounds like they made the mistake and Cap1 has opened cards in the past for people even if they closed them(being customer up to some time period) as they did this for me years and years ago, but obviously policies change possibly.

Thanks, but no, they are removing the entire tradeline from my credit report and there is nothing they can do about it but create a new tradeline with a new account according to the manager in the fraud department.

Re: Capital One just screwed up my account today.

Anonymous — Tue, 10 Dec 2019 23:20:54 GMT

doesn't closed account stay on your CR for 10 years?

Re: Capital One just screwed up my account today.

Anonymous — Tue, 10 Dec 2019 23:25:38 GMT

Where there is a will, there is a way. I think you just need to find someone that wants to help you. It might be the EO. Run of the mill CapOne employees, even supervisors, don’t seem to be empowered to do much. I wouldn’t give up.

If all else failed, I’d just tell them to leave it closed and that I wasn’t interested in having their card in my wallet anymore.

Re: Capital One just screwed up my account today.

AverageJoesCredit — Tue, 10 Dec 2019 23:28:29 GMT

Sorry Op

I would love to see the transcript of this phone convo that got asking for a card replacement to result in a fraudulent card being suspected , closed, and account being taken entirely off a credit report! Overkill and a half and holy fico what power that CSR has.

Re: Capital One just screwed up my account today.

CreditCuriosity — Tue, 10 Dec 2019 23:40:39 GMT

@HiiiPoWeR wrote:
@CreditCuriosity wrote:
Sorry about the mess up, what a bummer! I would try to get it escalated to a supervisor if they indeed made the mistake. The account will still report for 10 years so you won't take a huge hit unless your utilization sky rockets due to losing available credit. Hopefully call back and try to have it reinstated as sounds like they made the mistake and Cap1 has opened cards in the past for people even if they closed them(being customer up to some time period) as they did this for me years and years ago, but obviously policies change possibly.
Thanks, but no, they are removing the entire tradeline from my credit report and there is nothing they can do about it but create a new tradeline with a new account according to the manager in the fraud department.

This doesnt make any sense. I would be calling back.. Why would they remove the tradeline that make no sense at all as that isnt accurate reporting...

Re: Capital One just screwed up my account today.

Anonymous — Tue, 10 Dec 2019 23:48:51 GMT

Correct. Removal of the tradeline would violate accurate reporting laws. I would escalate to your AG if this truly is the case.

Re: Capital One just screwed up my account today.

Anonymous — Tue, 10 Dec 2019 23:57:43 GMT

@Anonymous wrote:
Correct. Removal of the tradeline would violate accurate reporting laws. I would escalate to your AG if this truly is the case.

The FCRA doesn't mandate reporting, only that any reporting that occurs be accurate. There have been many times where tradelines have come down early but it would certainly be very unusual and this is likely another case of the left hand not knowing what the right hand is doing. Worst case scenario OP should be seeing that original account close and a second account open. Not ideal but far better than losing the history altogether like they're being told.

Re: Capital One just screwed up my account today.

Anonymous — Wed, 11 Dec 2019 00:24:23 GMT

@Anonymous wrote:
@Anonymous wrote:
Correct. Removal of the tradeline would violate accurate reporting laws. I would escalate to your AG if this truly is the case.
The FCRA doesn't mandate reporting, only that any reporting that occurs be accurate. There have been many times where tradelines have come down early but it would certainly be very unusual and this is likely another case of the left hand not knowing what the right hand is doing. Worst case scenario OP should be seeing that original account close and a second account open. Not ideal but far better than losing the history altogether like they're being told.

It sounds like here they reported and have now inaccurately deleted a tradeline. This is a huge regulatory and legislative focus right now and there is a fair amount of case law surrounding deletion of a trade line and the loss of positive history. Simply deleting a tradeline does not mean their obligations as a furnisher somehow disappear.

Re: Capital One just screwed up my account today.

Anonymous — Wed, 11 Dec 2019 00:35:13 GMT

This is pure insanity. How do you screw up that bad?

Honestly, I would be calling non stop and writing letters to high level people and looking at what legal options you have if they refuse to play ball with you. That is inexcusably bad. Not an accident but pure incompetence.

Re: Capital One just screwed up my account today.

Anonymous — Wed, 11 Dec 2019 00:51:25 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Correct. Removal of the tradeline would violate accurate reporting laws. I would escalate to your AG if this truly is the case.
The FCRA doesn't mandate reporting, only that any reporting that occurs be accurate. There have been many times where tradelines have come down early but it would certainly be very unusual and this is likely another case of the left hand not knowing what the right hand is doing. Worst case scenario OP should be seeing that original account close and a second account open. Not ideal but far better than losing the history altogether like they're being told.
It sounds like here they reported and have now inaccurately deleted a tradeline. This is a huge regulatory and legislative focus right now and there is a fair amount of case law surrounding deletion of a trade line and the loss of positive history. Simply deleting a tradeline does not mean their obligations as a furnisher somehow disappear.

I don't really understand how they can force a creditor who was voluntarily reporting a tradeline to continue to do so unless they are going to make a law explicitly saying that reporting is mandatory for all credit accounts but I'm not a lawyer and have no interest in becoming one so I guess it doesn't really matter if I understand if that's how it is.

Regardless though, this appears to have just happened today which means that any credit reporting fallout is all a guess right now. If they are unable to remove the fraud marker from the system, I suppose I can see why this tradeline would end up being deleted from OP's credit report.

Re: Capital One just screwed up my account today.

Anonymous — Wed, 11 Dec 2019 01:01:14 GMT

I'm gonna not try to muck this up too much, but a lot of the origin stems from a trade industry concept in the CDIA Manual. ("In order to maintain the integrity of credit information, it is important that data furnishers not ask for a subsequent deletion of account history unless an actual error was reported.")

This industry concept has been picked up by courts and regulatory agencies. Think of it like this: you don't have to report, but once you choose to, it better be accurate.

Re: Capital One just screwed up my account today.

HiiiPoWeR — Wed, 11 Dec 2019 01:08:41 GMT

Thanks for all the responses. I will be calling Capital One back later today as well as filing BBB complaint.

Just to clarify, the tradeline hasn't been removed yet. I'm just repeating what capital one told me would be happening in the coming week.

Since the rep, not only closed the account but labeled it as "account opened as fraudulent" Capital One is going to remove the tradeline while they investigate identity theft.

Honesty, I don't know how a person could get confused with replacing a credit card and closing an account out for fraud. She didn't even apologize for doing it. She came back on the line after speaking to her manager, and told me that they told her to say she messed up and the account has been closed.

I'm really pissed off right now and wish I could take some legal recourse here.

Re: Capital One just screwed up my account today.

OmarGB9 — Wed, 11 Dec 2019 01:17:13 GMT

Yikes. What a nightmare. I'd definitely find contact information for the EO and get someone high up who can overturn this. This is wrong. They should be able to pull up the recorded conversation and see that you asked for nothing of the sort. Perhaps you do have some legal recourse, but it'll cost a lot of time and a lot of money.

Re: Capital One just screwed up my account today.

Remedios — Wed, 11 Dec 2019 01:20:53 GMT

BBB cant do anything. BBB is place where unhappy people leave bad reviews. It's not within their authority to act any more than Yelp can act on restaurant management.

Saeren is right. TL's can be removed (at this point in time) at the discretion of a lender. This is not to be confused with internal agreements on how CRAs do "housecleaning" on their end.
Laws currently mandate only accuracy of information reported and negatives.
Positive accounts and their "stay" on CR are not legally regulated and mandated.

With that said, an account closed for fraud can be removed, and new account reported should retain the original info. You did not apply again, so you cannot have an accurate opening date unless backdated.

I would not do anything right now, till the account reports and you see exactly how it's reporting. There is a good chance CSR is not well informed on how new account will report and what information will be contained in it.

Trying to "fix" account that's not even reporting at the current time will only cause more issues. Save disputes and complaints for later, when you actually have something tangible to dispute.

Re: Capital One just screwed up my account today.

Anonymous — Wed, 11 Dec 2019 01:27:33 GMT

@Remedios wrote:
BBB cant do anything. BBB is place where unhappy people leave bad reviews. It's not within their authority to act any more than Yelp can act on restaurant management.

Saeren is right. TL's can be removed (at this point in time) at the discretion of a lender. This is not to be confused with internal agreements on how CRAs do "housecleaning" on their end.
Laws currently mandate only accuracy of information reported and negatives.
Positive accounts and their "stay" on CR are not legally regulated and mandated.

With that said, an account closed for fraud can be removed, and new account reported should retain the original info. You did not apply again, so you cannot have an accurate opening date unless backdated.

I would not do anything right now, till the account reports and you see exactly how it's reporting. There is a good chance CSR is not well informed on how new account will report and what information will be contained in it.

Trying to "fix" account that's not even reporting at the current time will only cause more issues. Save disputes and complaints for later, when you actually have something tangible to dispute.

Yes, this was my thought as well. It's possible (the happy path!) that a new entry will be created only in a very technical sense: it has a new identifier, but open date, payment history etc are all carried over.

Or it could be really screwed up, but wait and see which it is!

Re: Capital One just screwed up my account today.

Anonymous — Wed, 11 Dec 2019 01:36:02 GMT

@Remedios wrote:
BBB cant do anything. BBB is place where unhappy people leave bad reviews. It's not within their authority to act any more than Yelp can act on restaurant management.

Saeren is right. TL's can be removed (at this point in time) at the discretion of a lender. This is not to be confused with internal agreements on how CRAs do "housecleaning" on their end.
Laws currently mandate only accuracy of information reported and negatives.
Positive accounts and their "stay" on CR are not legally regulated and mandated.

With that said, an account closed for fraud can be removed, and new account reported should retain the original info. You did not apply again, so you cannot have an accurate opening date unless backdated.

I would not do anything right now, till the account reports and you see exactly how it's reporting. There is a good chance CSR is not well informed on how new account will report and what information will be contained in it.

Trying to "fix" account that's not even reporting at the current time will only cause more issues. Save disputes and complaints for later, when you actually have something tangible to dispute.

The highlighted part is not entirely accurate. Without straying into legal advice, there is a fair amount of case law discussing the accuracy of information furnished and positive info (")Maximum accuracy, under the statute, applies equally to favorable information as it does to unfavorable information", Wharram v. Credit Services inc). The CFPB has previouslt enforced this. Please note none of this is legal advice.

That said, nothing has hapoened yet, so nothing is ripe. Youre gonna have to wait and see what happens first, OP.