Cap 1 hates me :(

[stpn2me]

If I were you, I would pay the card off and sock drawer it, dont close it, because they will still have to report the balance and calculate it in util. It concerns me that you said it was the only card you had and you really depended on it. It sounds like you may view it as income. You have to make sure you dont view CC's as income and are not using it as an extension of your paycheck. I have learned that this is where most people get into trouble with CC's..

Honestly, I would say you need to wait until your scores get better before you start apping again. While I dont know your overall situation, your scores really need rehabing before you start looking at other cards.

I talk alot of crap about Capitalone, but they are good for helping people with bad credit with their rebuilder cards, just not taking care of people once they get on their feet.

Continue on with your rebuilding and maybe app for another rebuilder card when you get your scores into the low 600's.

Stpn2me

Message Edited by stpn2me on 01-30-2008 04:33 PM

[CreditDrama85]

you should be able to get an Orchard Bank CC with a 300cl

[Anonymous]

I meant 07...

[haulingthescoreup]

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@Anonymous wrote:

What is the point of them restricting your use permanently--I don't know why they just didnt close the account themselves. What do you have do to get unrestricted? I assume get the account current, then give them a call.

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I think from what CreditDrama posted, this is CapOne's way of closing a card, but trying to increase the odds that they will be paid back.

[Anonymous]

yes it is considered a closed account you might as well close it--they will never unrestrict--known some to write letters after letter they will not reinstate just tell you to reapply for another card--howeve if a balance be sure to get that paid they will not consider account closed until balance zero for 2 consecutive months