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Capital One Credit Card Restricted for 90 days after missing 6 payments.

longtimelurker
Mega Contributor

Re: Capital One Credit Card Restricted for 90 days after missing 6 payments.


@CreditInspired wrote:

Congrats OP on the restriction removal!!!!!!!

 

I'm sure you learned a valuable lesson. So no more lates--okey, doke? 😁


Well....!   5 months late, bounced payment (making it 6 months late).  Consequences?   Pay off and card is restored.   OK, so obviously scores take a huge hit but as for lessons learned. .  It could be, "things can be fixed easily!"

 

Often here we see posts of "issuer did terrible things for no reason" and eventually more details emerge explaining the real reason.   Here is the opposite, things work out well for "no reason".   So I am waiting for the OP to recall that he/she is related to the CEO!

Message 31 of 38
Caprisun987
Frequent Contributor

Re: Capital One Credit Card Restricted for 90 days after missing 6 payments.

I am glad you got to keep the line open. This is the first case I have ever seen of anything like this happening so thanks for sharing. Those lates are going to sting for quite a while. All you can do is continue making on time payments. I read that you lost your other two cards with comenity and I am sorry to hear that. As others have said be incredibly careful with bounced payments. Whether its for credit cards or a checking account, financial institutions look unfavorably upon bounced checks/payments. 

 

You will be able to bounce back from this one, just keep making on time payments. Your next card might be a secured card (Discover is a good choice) but that is months down the road.

 

Good luck, I know these are tough times for a lot of people. 

Message 32 of 38
abelbarraza3
Valued Member

Re: Capital One Credit Card Restricted for 90 days after missing 6 payments.

Update: I have been using this card heavily. For the month of March I paid/spent 3k towards it. For the month of April I spent/ paid $4,100. For the month of May so far I have spent/ paid $4,800. The credit limit is 2k. So I am maxing out and paying off before the end of the billing cycle. So it does not report a maxed out card. When should I expect/ask for a credit limit increase? I am kinda of tired of constantly maxing the card out. Any speculations how much of an increase I could expect with that much usage?

Message 33 of 38
rostrow416
Established Contributor

Re: Capital One Credit Card Restricted for 90 days after missing 6 payments.

At that point, you're lucky the card wasn't charged-off and cancelled all together.  Get the bill down, make however many payments they require before you can use your account again, and keep that card around.

 

AMEX Gold | Purdue FCU $20,000 | FNBO Evergreen $15,000 | TFCU Plat Visa $15,000 | PenFed Platinum Rewards $15,000 | PenFed Pathfinder $15,000 | Citizen's Bank Cash Back+ $15,000 | Synchrony Premier MC $10,000 | SG Visa $10,000 | NFCU MoreRewards $7,000 | NFCU cashRewards $17,000 | Discover IT $6,000 | Capital One BuyPower $950 | AMEX BCP $5,000 | AMEX Amazon Prime Business $3,000

B&H Payboo Card $15,000 | Amazon Prime Card $10,000 | PC Richard Card $15,000 | Target RedCard $2,000 | Walmart Store Card $1,400 | Shell Gas Card $1,200 | Overstock Store Card $7,000 | Kohl's Store Card $3,000


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Message 34 of 38
abelbarraza3
Valued Member

Re: Capital One Credit Card Restricted for 90 days after missing 6 payments.

I am able to use the card without restrictions. I am wondering more how long I should expect those restrictions to impact my chances of getting a credit limit increase.


@rostrow416 wrote:

At that point, you're lucky the card wasn't charged-off and cancelled all together.  Get the bill down, make however many payments they require before you can use your account again, and keep that card around.

 


 

Message 35 of 38
blossom_rebuilding
Regular Contributor

Re: Capital One Credit Card Restricted for 90 days after missing 6 payments.

 


@abelbarraza3 wrote:

Update: I have been using this card heavily. For the month of March I paid/spent 3k towards it. For the month of April I spent/ paid $4,100. For the month of May so far I have spent/ paid $4,800. The credit limit is 2k. So I am maxing out and paying off before the end of the billing cycle. So it does not report a maxed out card. When should I expect/ask for a credit limit increase? I am kinda of tired of constantly maxing the card out. Any speculations how much of an increase I could expect with that much usage?


Hi! Just read this entire thread for the first time, and I am very glad things worked out for you. Capital One likes heavy spend, which it sounds like you are giving, but the previous troubles with the card that narrowly avoided charge off would probably keep red flags on your profile for some time. I would recommend making on-time payments in rinse, repeat fashion as you have been doing, and then seeking a CLI after six consecutive "clean" statements. It can't hurt to ask, but it wouldn't surprise me if Capital One has a long memory and denies for some time. BUT if you get approved, it would be pleasant surprise. Capital One is a hard nut to crack for CLIs even for those with spotless profiles, sometimes. Keep that card and your overall profile in good shape, and you will either get a CLI in due course, or qualify for higher limit cards that you could make your daily driver instead. Good luck!

>
Blue from American Express: $8,000 ~ Capital One Quicksilver: $3,500 ~ PNC Core: $24,000 ~ Comenity Ultamate Rewards Mastercard: $9,700 ~ Discover It: $21,000 ~ Synchrony Home: $5,500 ~ Citi Shop Your Way Mastercard: $8,000 ~ Capital One Venture One: $15,000 ~ Chase United MileagePlus Explorer: $18,600 ~ US Bank Altitude Go: $2,000
Message 36 of 38
Horseshoez
Valued Contributor

Re: Capital One Credit Card Restricted for 90 days after missing 6 payments.

@abelbarraza3, this may sound like a strange recommendation, but if I was in your shoes, instead of asking for a CLI, which from CapOne might be only one or two hundred dollars, I'd suggest you apply for a different card with them.  I'm thinking in exchange for the three hard pulls you're going to get from the application (versus a soft pull or two for the CLI), you have a reasonable chance of landing a second card with them with roughly the same credit limit as your first.

I categorically refuse to do AZEO!

Message 37 of 38
Remedios
Moderator

Re: Capital One Credit Card Restricted for 90 days after missing 6 payments.

@abelbarraza3  Thanks for the update.

Since this is an old thread, and your questions are unrelated to original topic, please feel free to start a new one addressing your current situation and concerns. 

Message 38 of 38
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