topic Re: Cap 1 Question in Credit Cards

Cap 1 Question

Anonymous — Fri, 07 Dec 2007 21:16:14 GMT

I have a Cap 1 CC that I got some years ago (maybe 5?) I royally screwed it up about 2 1/2 years ago and they did not send me a replacement when it expired about 8 months ago. I've been 24 months w/no baddies (the worst was 60 days late). My statement shows a CL and available credit. When I called today to verify a payment had been recieved, it said my available credit was $0. Its reporting the correct balance to each CRA (as of last month) and reporting as open.

So rather than getting the run-around with a customer service rep, I thought I'd ask here first. I know at some point I'll need to talk with them but thought I'd try the forums for advice

Thanks!

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 21:18:13 GMT

So what is your question?

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 21:26:06 GMT

Question is: I don't want to wake the sleeping Cap 1 bear but if its saying I have no available credit (and there should be $500) is the account in effect closed? Its reporting as CL 500 with the correct balance (almost none).

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 21:37:22 GMT

ct99 wrote:
Question is: I don't want to wake the sleeping Cap 1 bear but if its saying I have no available credit (and there should be $500) is the account in effect closed? Its reporting as CL 500 with the correct balance (almost none).

If they shut you down then the bear is already awake.

As helpful as this forum is, nobody here can tell you if they're just having a website glitch or if they really did shut you down.

I'd call them.

Message Edited by cheddar on 12-07-2007 01:37 PM

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 22:46:26 GMT

I agree cheddar. Call then, using the account specialist number. Not the # on the back of the card.

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 22:49:53 GMT

Actually, Cap1 has shut you down. Be happy that it is reporting open with avail credit because for it to report closed with a balance owing, especally closed by grantor will not be a good thing for someone eyeballing your report. If you need to call, do so, but don't indicate that the account is reporting open just ask if there is a chanc that it be reinstated. As long as it is reporting open, and not showing currently late, it is helping you.

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 22:54:01 GMT

Brammy - that's the thing. I like how its reporting now and dont' want it to stop reporting as open!! If I call and talk to them about it, they'll (I'm sure) report it as closed. Maybe I'll wait a few more months and hope my scores improve a bit more so I can feel somewhat confident about reinstating.

Is it easier to reinstate a card than it is to apply for a brand new one?

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 22:59:35 GMT

I wouldn't indicate at all that I even know how its reporting, I woudl just ask if it is possible to reopen.

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 23:00:01 GMT

If they have closed your account it should be reporting soon anyway, they just have not updated their systems.

Re: Cap 1 Question

CreditDrama85 — Fri, 07 Dec 2007 23:01:01 GMT

capital one will almost never report an account as closed if they have closed it. it will look like it is open with the credit bureaus but on capital one's end the account show's as RESTRICTED.

meaning u will have no available credit, even if your balance is 0.

when this is the case, they usually will do a soft inquiry and sometimes lift the restiction/re-open the account and make credit available.

Message Edited by CreditDrama85 on 12-07-2007 03:01 PM

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 23:08:39 GMT

Thanks Drama, you DO come in handy

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 23:21:05 GMT

CreditDrama

I have a Cap 1 from 6 yrs ago that was closed and it says:

Account Status: CLOSED

Re: Cap 1 Question

CreditDrama85 — Fri, 07 Dec 2007 23:28:11 GMT

if it does not say closed by consumer or closed by credit grantor and simply says CLOSED, the bureau automatically updated it as closed after so many years with no activity.

Re: Cap 1 Question

Anonymous — Fri, 07 Dec 2007 23:47:42 GMT

Sorry it does say closed by the consumer, I didn't think I needed to put all of that-I was only focusing on the word closed.

It was a business card, which that could be why because none of my business cards report to my CR's, so it is all wrong I guess. I haven't disputed it because it does have good history.

Message Edited by jaybee on 12-07-2007 03:47 PM

Re: Cap 1 Question

Anonymous — Sat, 08 Dec 2007 00:07:01 GMT

I'd be on the phone with them finding out what the heck happened. If one of my creditors shut me down with no explanation, the phone is the first place I'd go. Even if they didn't have an explanation for me, someone would be hearing about it!