Capital One

[IOBA]

Helping my brother.  We found this on Experian credit report.  

Capital One shows as "open" with credit limit of "N/A" -- translation?

Status: 
Open/Never late.    
Date Opened: 02/2000

Date of Status: 10/2006

Reported Since: 02/2000

Last Reported Date: 10/2006
Type: Revolving Terms: N/A 

Monthly Payment: $0

Responsibility: Individual 
Credit Limit: N/A

High Balance: $111 

Recent Balance: $0

Recent Payment: $0

This is another card he knew nothing about.  

Suggestions? 

[DI]

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@IOBA wrote:

Helping my brother.  We found this on Experian credit report.  

Capital One shows as "open" with credit limit of "N/A" -- translation?

Status: 
Open/Never late.    
Date Opened: 02/2000

Date of Status: 10/2006

Reported Since: 02/2000

Last Reported Date: 10/2006
Type: Revolving Terms: N/A 

Monthly Payment: $0

Responsibility: Individual 
Credit Limit: N/A

High Balance: $111 

Recent Balance: $0

Recent Payment: $0

This is another card he knew nothing about.  

Suggestions? 

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Nothing adverse about it. Given the age of the account, I would only inquire about the account with Cap. 1, and not the  CRA's.

[creditwherecreditisdue]

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@IOBA wrote:

Status: 

Last Reported Date: 10/2006

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I think the question is why hasn't this account reported for three years...

[IOBA]

That is a good question...why hasn't it reported for several years?

A wonderful suggestion was given on another posting.  

Call up the creditor and claim the card was lost and have a new one sent out, with an updated address, etc.

Backdoor numbers for Capital One and for Chase? 

[Anonymous]

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@creditwherecreditisdue wrote:

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@IOBA wrote:

Status: 

Last Reported Date: 10/2006

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I think the question is why hasn't this account reported for three years...

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Actually, I have been told that if a credit card reaches it's expiry date and has not been renewed, then most banks will quit reporting it's status. The reason being is it is not an open acct.

[creditwherecreditisdue]

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@Anonymous wrote:

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@creditwherecreditisdue wrote:

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@IOBA wrote:

Status: 

Last Reported Date: 10/2006

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I think the question is why hasn't this account reported for three years...

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Actually, I have been told that if a credit card reaches it's expiry date and has not been renewed, then most banks will quit reporting it's status. The reason being is it is not an open acct.

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Renewal cards are sent out automatically. If the account had been closed it would have been reported to the CRA's as "Closed", It is reported as "Open".

[Anonymous]

OK, if it is on your Credit Report, there has to be an identifying number. From this you should be able to determine what type of account it is.

As far as reporting, I think this is something we will be seeing a lot more of.

[haulingthescoreup]

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IOBA wrote:

That is a good question...why hasn't it reported for several years?

A wonderful suggestion was given on another posting.  

Call up the creditor and claim the card was lost and have a new one sent out, with an updated address, etc.

Backdoor numbers for Capital One and for Chase? 

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I would call up and say that the dog chewed it up or something. Reporting it lost might result in two TL's reporting for two years.

CapOne used to not report CL's. They changed this about 2 1/2 - 3 years ago, so it's possible that if the account went dormant, they never switched over to reporting the CL.

"Open" can be both a card type and an account status. Where exactly does it say Open?

[creditwherecreditisdue]

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@IOBA wrote:

Status: 
Open/Never late.
Type: Revolving

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[haulingthescoreup]

Thanks, missed that.

In that case, I'd try the dog-ate-my-card bit. Then try ordering online or something, and see if the system accepts the account number.

If he suspects that his ex opened the account, that might be different (as discussed on the Kohl's thread.) If he feels comfortable with this one, and at least it's clean, and hasn't been used since 2006, he might as well take it over. Just make sure that there isn't an authorized user (as in, the ex) on the account. If so, get her off pronto.