Cap 1 Question

[Anonymous]

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!

[Anonymous]

So what is your question?

[Anonymous]

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).  

[Anonymous]

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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).  

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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

[Anonymous]

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

[Anonymous]

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.

[Anonymous]

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? 

[Anonymous]

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

[Anonymous]

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

[CreditDrama85]

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