topic Re: Capital One Is Screwing Me Over in Credit Cards

Capital One Is Screwing Me Over

xXIDaShizIXx — Sun, 26 Jan 2014 22:16:10 GMT

So, I've noticed that none of my credit scores have improved any since opening my Capital One Secured card 4 months ago. It went up about 37 points on CK when It first opened, but that was it and nothing with any of the other bureaus. I asked customer service why and they told me that "We will only report your payment history to the credit reporting agencies when the account is more than 30 days past due, or if we do not receive your required minimum payment within this time frame." And they also said that they only report every 30-75 days from the time of each billing cycle. What the crap guys? This card is useless. I've paid in full every month and kept my utilization low, for this card not even to build history?! Should I close it and go with a discover secured card or BoA secured card (if I don't get the Duck Card ) ? This has made me furious, because I feel like I am being penalized for using credit responsibly (The purpose of a secured card).

Re: Capital One Is Screwing Me Over

baller4life — Sun, 26 Jan 2014 22:19:05 GMT

That it so not true. My Cap 1 secured reported after 2nd billing cycle and then every month after that. Posts to all bureaus about 2 or 3 days after statement closes.

Re: Capital One Is Screwing Me Over

xXIDaShizIXx — Sun, 26 Jan 2014 22:21:35 GMT

@baller4life wrote:
That it so not true. My Cap 1 secured reported after 2nd billing cycle and then every month after that. Posts to all bureaus about 2 or 3 days after statement closes.

See that is what I was told as well when I first opened it, but everytime I have asked I have gotten a different answer and only got that inital 37 point increase on TU when I first opened it. Seriously I have no idea what to do?

Re: Capital One Is Screwing Me Over

gdale6 — Sun, 26 Jan 2014 22:30:25 GMT

@xXIDaShizIXx wrote:
@baller4life wrote:
That it so not true. My Cap 1 secured reported after 2nd billing cycle and then every month after that. Posts to all bureaus about 2 or 3 days after statement closes.
See that is what I was told as well when I first opened it, but everytime I have asked I have gotten a different answer and only got that inital 37 point increase on TU when I first opened it. Seriously I have no idea what to do?

well the first thing to do is throw that FAKO from Credit Karma right out the door, it is meaningless, my numbers on it have not moved much on it (within +-10) over past year while my actual FICO has gone up down +- 30 points. I discount any numbers off my TU as it is the only report that still has a 9 yr dismissed BK on it, the report is frozen, no one new can pull it and it will remain frozen and discounted till the BK disappears.

Re: Capital One Is Screwing Me Over

xXIDaShizIXx — Sun, 26 Jan 2014 22:50:38 GMT

@gdale6 wrote:
@xXIDaShizIXx wrote:
@baller4life wrote:
That it so not true. My Cap 1 secured reported after 2nd billing cycle and then every month after that. Posts to all bureaus about 2 or 3 days after statement closes.
See that is what I was told as well when I first opened it, but everytime I have asked I have gotten a different answer and only got that inital 37 point increase on TU when I first opened it. Seriously I have no idea what to do?
well the first thing to do is throw that FAKO from Credit Karma right out the door, it is meaningless, my numbers on it have not moved much on it (within +-10) over past year while my actual FICO has gone up down +- 30 points. I discount any numbers off my TU as it is the only report that still has a 9 yr dismissed BK on it, the report is frozen, no one new can pull it and it will remain frozen and discounted till the BK disappears.

Yeah its useless. I agree, I wish someone would answer my questions though?

Re: Capital One Is Screwing Me Over

baller4life — Sun, 26 Jan 2014 22:58:58 GMT

Your card should have started reporting at least 2 months ago. I would contact the Executive Office and complain. Someone there should be able to do something.

Re: Capital One Is Screwing Me Over

xXIDaShizIXx — Sun, 26 Jan 2014 22:58:25 GMT

Do you know what that email or number is? Something needs to be done.

Re: Capital One Is Screwing Me Over

blondy250 — Sun, 26 Jan 2014 22:59:01 GMT

No credit card company is required to report your payment history, most do however but some are slow in reporting. They are only required to report correctly when they do. With a very thin credit file I wouldn't be surprised that your scores move very little, and like has previously been posted disregard CK scores entirely.

Re: Capital One Is Screwing Me Over

baller4life — Sun, 26 Jan 2014 23:00:06 GMT

You can google their email and number

Re: Capital One Is Screwing Me Over

gdale6 — Sun, 26 Jan 2014 23:04:07 GMT

For numbers http://ficoforums.myfico.com/t5/Credit-Cards/Backdoor-Numbers/td-p/408066

Re: Capital One Is Screwing Me Over

xXIDaShizIXx — Sun, 26 Jan 2014 23:11:10 GMT

@gdale6 wrote:
For numbers http://ficoforums.myfico.com/t5/Credit-Cards/Backdoor-Numbers/td-p/408066

Thank you for that, let me give them a call and I will let you know what they say.

Re: Capital One Is Screwing Me Over

xXIDaShizIXx — Sun, 26 Jan 2014 23:14:30 GMT

@blondy250 wrote:
No credit card company is required to report your payment history, most do however but some are slow in reporting. They are only required to report correctly when they do. With a very thin credit file I wouldn't be surprised that your scores move very little, and like has previously been posted disregard CK scores entirely.

So should I start looking elsewhere and close that account after I hit the 6 months with them at the beginning of April?

Re: Capital One Is Screwing Me Over

-Wade- — Sun, 26 Jan 2014 23:14:56 GMT

@xXIDaShizIXx wrote:
@gdale6 wrote:
For numbers http://ficoforums.myfico.com/t5/Credit-Cards/Backdoor-Numbers/td-p/408066
Thank you for that, let me give them a call and I will let you know what they say.

Good luck

Re: Capital One Is Screwing Me Over

12njoy — Sun, 26 Jan 2014 23:15:09 GMT

@op,
I have never heard of this regarding capital one. Maybe they're slow to report in your case. My USAA credit card student report for 2 months. One of my amex cards took 3 months to report.

Re: Capital One Is Screwing Me Over

xXIDaShizIXx — Sun, 26 Jan 2014 23:20:26 GMT

Ok, for one, should I pull all three of the side by sides? Maybe that would help. Also, in April should I try to move on from the secured card? I mean this just seems a little ridiculous.

Re: Capital One Is Screwing Me Over

daybreakgonesXe — Sun, 26 Jan 2014 23:33:44 GMT

OP, i would check your credit reports. You're allowed each of the 3 major bureaus once a year through annualcreditreport.com

First off, make sure your card is actually reporting each month. If it is, great! If not, definitely get in touch with Cap One.

Second off, don't take the CK score to heart; CK sometimes doesn't change with certain factors that typically make FICOs change. Sometimes CK changes over stupid things FICOs don't consider. Take it all with a grain of salt.

Third off, 4 months is still young. I'm sure your account has caused your FICOs to improve, but you typically see more "major" score bumps after 6 months, 1 year, 2 years, etc. By major, i mean it will go up, but not 100 points. They can be by a couple points, 5 points, 10 points, 20 points. So many other things factor into your FICO.

Finally, patience is key I forgot the backstory to your credit, so I deeply apologize that I don't know exactly what's going on, but do you have any derogs or negative information on your report? Or are you starting from scratch? Either way, those factors hold your score back tremendously that you won't really see jumps until the negatives fall off or your history ages past the one year mark.

Don't worry, you're doing a great job, so don't let the little things get to you! It just takes some time, that's all!

All the best in your credit journey

Re: Capital One Is Screwing Me Over

blondy250 — Sun, 26 Jan 2014 23:39:26 GMT

No after a year, I'd apply for a "prime card" or two. I wouldn't close it even then, unless your paying a AF.

Re: Capital One Is Screwing Me Over

xXIDaShizIXx — Sun, 26 Jan 2014 23:55:36 GMT

@daybreakgonesXe wrote:
OP, i would check your credit reports. You're allowed each of the 3 major bureaus once a year through annualcreditreport.com

First off, make sure your card is actually reporting each month. If it is, great! If not, definitely get in touch with Cap One.

Second off, don't take the CK score to heart; CK sometimes doesn't change with certain factors that typically make FICOs change. Sometimes CK changes over stupid things FICOs don't consider. Take it all with a grain of salt.

Third off, 4 months is still young. I'm sure your account has caused your FICOs to improve, but you typically see more "major" score bumps after 6 months, 1 year, 2 years, etc. By major, i mean it will go up, but not 100 points. They can be by a couple points, 5 points, 10 points, 20 points. So many other things factor into your FICO.

Finally, patience is key I forgot the backstory to your credit, so I deeply apologize that I don't know exactly what's going on, but do you have any derogs or negative information on your report? Or are you starting from scratch? Either way, those factors hold your score back tremendously that you won't really see jumps until the negatives fall off or your history ages past the one year mark.

Don't worry, you're doing a great job, so don't let the little things get to you! It just takes some time, that's all!

All the best in your credit journey

I have no derogatory marks. I have student loans all paid on time. I have an AAMCO Car Care One Card and the Capital One secured card. I have pulled the reports, its not even showing. That's why I was wondering about my scores and whether or not I should go ahead and buy all three? And yes I'm starting from scratch other than the student loans.

Re: Capital One Is Screwing Me Over

Anonymous — Sun, 26 Jan 2014 23:58:02 GMT

@xXIDaShizIXx wrote:
@gdale6 wrote:
@xXIDaShizIXx wrote:
@baller4life wrote:
That it so not true. My Cap 1 secured reported after 2nd billing cycle and then every month after that. Posts to all bureaus about 2 or 3 days after statement closes.
See that is what I was told as well when I first opened it, but everytime I have asked I have gotten a different answer and only got that inital 37 point increase on TU when I first opened it. Seriously I have no idea what to do?
well the first thing to do is throw that FAKO from Credit Karma right out the door, it is meaningless, my numbers on it have not moved much on it (within +-10) over past year while my actual FICO has gone up down +- 30 points. I discount any numbers off my TU as it is the only report that still has a 9 yr dismissed BK on it, the report is frozen, no one new can pull it and it will remain frozen and discounted till the BK disappears.
Yeah its useless. I agree, I wish someone would answer my questions though?

My Cap 1 seems to report consistantly every month.

Re: Capital One Is Screwing Me Over

daybreakgonesXe — Mon, 27 Jan 2014 00:00:37 GMT

@xXIDaShizIXx wrote:
@daybreakgonesXe wrote:
OP, i would check your credit reports. You're allowed each of the 3 major bureaus once a year through annualcreditreport.com

First off, make sure your card is actually reporting each month. If it is, great! If not, definitely get in touch with Cap One.

Second off, don't take the CK score to heart; CK sometimes doesn't change with certain factors that typically make FICOs change. Sometimes CK changes over stupid things FICOs don't consider. Take it all with a grain of salt.

Third off, 4 months is still young. I'm sure your account has caused your FICOs to improve, but you typically see more "major" score bumps after 6 months, 1 year, 2 years, etc. By major, i mean it will go up, but not 100 points. They can be by a couple points, 5 points, 10 points, 20 points. So many other things factor into your FICO.

Finally, patience is key I forgot the backstory to your credit, so I deeply apologize that I don't know exactly what's going on, but do you have any derogs or negative information on your report? Or are you starting from scratch? Either way, those factors hold your score back tremendously that you won't really see jumps until the negatives fall off or your history ages past the one year mark.

Don't worry, you're doing a great job, so don't let the little things get to you! It just takes some time, that's all!

All the best in your credit journey
I have no derogatory marks. I have student loans all paid on time. I have an AAMCO Car Care One Card and the Capital One secured card. I have pulled the reports, its not even showing. That's why I was wondering about my scores and whether or not I should go ahead and buy all three? And yes I'm starting from scratch other than the student loans.

Wow, i'm surprised they're not showing.

At this point I wouldn't buy your scores; buying scores are good to do before credit and loan applications; it's the content of your report that matter! Using the FAKO scores are helpful gauges to see where you're at, but not to be taken to heart!

Definitely contact Cap One EO on this matter. I haven't heard of Cap One not reporting to the bureaus. Very strange, indeed!