Capital One Secured- Closed

Anonymous · ‎10-05-2016

I have been working on my credit journey for 2 years now. I opened two cards, an Open Sky and First Progress in Feb of 2015. I also opened a Capital One secured late last year. I started with a credit limit of $300 and added another $700 before the deadline. I've put in $1000 and the card has a limit of $1300. I haven't had the best spending but I've always been sure to pay off the full amount by the due date. In June I fell into a hard time, and the balance went up to $3100. I havent missed any payments and have been making at least the minimum which gets eaten up and added with fees. I paid the bill the other day, $200 instead, so the balance would return to $3100, but now theyre saying my account is restricted. I'm hoping to contact them to have my account opened, this just happened this past week. I know my balance is way over the limit but I will be able to pay it off when my student loans come in next month. Does anyone have any tips or advice on speaking with them? Do you think they would be able to open the account? I am really worried about my credit and I obviously cant afford to lose the $1000. I'm not an irresponsible borrower as it looks, I'm very aware of credit as I've been studying this forum and other information for 2 years. I just cant afford to pay it off right now. I hope they can open the account.

Anonymous · ‎10-05-2016

Sorry you are going thru some difficulties....the best course of action is for you to contact them. We could all speculate the outcome, but I think it would be most beneficial if you actually call them. I know it's crappy.....I've been there. But just call them. You'll be relieved once you get that part over with. Good luck!

Anonymous · ‎10-06-2016

I'm trying to figure out how you charge $3100 on a card with a $1300 limit.

You should never charge bills you don't have the money for, especially if you lost your job, etc.

Not bashing you, just some advice. You'll get better with credit over time, you're still new here.

The good news is that it's only Capital One that you burned, and not a lender that offers great cards.

Anonymous · ‎10-06-2016

@Anonymous wrote:
I'm trying to figure out how you charge $3100 on a card with a $1300 limit.
Yes, I'd be interested in knowing how that is even possible.
You should never charge bills you don't have the money for, especially if you lost your job, etc.

Not bashing you, just some advice. You'll get better with credit over time, you're still new here.

The good news is that it's only Capital One that you burned, and not a lender that offers great cards.
Not good news at all. Capital One is maybe the most valuable company to have on your side starting out. Those lenders that offer the "great" cards won't touch you if you can't handle a secured card.

Anonymous · ‎10-06-2016

Sorry that you're having issues financially. I also would like to know how you were able to get up to $3100 on a secured card. I would definitely call Capital One and see what they can do to help you. It sounds like you're in a place that isn't a good one (I've been there and totally understand). Good luck with everything!

Anonymous · ‎10-06-2016

it was a long term rental car and i extended the rental, then got into a minor accident with $700 of damage. can anyone advise me of my initial question, how to talk to them? i have anxiety and i am not sure of what to say.

Anonymous · ‎10-06-2016

thank you all i read everyone's response but i'm hoping to get advice on how to approach them when i call.

Anonymous · ‎10-06-2016

didn't lose my job. the bill was racked up before the incident where i was unable to pay happened.

Anonymous · ‎10-06-2016

@Anonymous wrote:
it was a long term rental car and i extended the rental, then got into a minor accident with $700 of damage. can anyone advise me of my initial question, how to talk to them? i have anxiety and i am not sure of what to say.

Does Capital One have chat? If you're feeling anxious about talking to a live person maybe try chat first? If that doesn't work just call in and explain the situation. If you become anxious over it than maybe call back at a different time. I generally do chat because I am able to get my point across that way and I can get some decent help.

bourgogne · ‎10-06-2016

long day so I cannot exactly follow this but you are over your limit because of a car accident on a long term rental? you have car insurance on that card, you know this right? just call them and see what your options are. nothing good will come out of this by putting your head in the sand. you know the rule, never be late. just keep that in mind, keep focused and work the issue. communication is everything in life. good luck!