Reactivate a restricted card?

[Anonymous]

So, a couple of weeks ago, I posted about seeing an old Cap One account on my TU report that was listed as "Inactive/never late." The last payment (and the last activity and the last reporting on this card is 2006.) 

I called the EO and asked about this. Finally -- after a week of their trying to call me on the mobile number listed on this inactive card from 2006 -- I finally talked to a very nice and helpful EO assistant who said that this card was restricted back in 2006. (She isn't sure why, but is checking.) 

She also said that there's a good chance that this card can be reactivated -- she's also checking with the appropriate underwriting office and will get back to me next week, but she says it's very likely.

The CL is $1,200.

The APR is 12.99%.

No AF

Perfect payment record.

It's not a card I would use, but it was opened in 1991 and reactivating means that it won't drop off my reports in October 2016. (This means I can take off one of my AUs much earlier than I had planned, since this 1991 open date will make up for that.) The 1991 open date and its possibly staying on my record beyond 2016 is the best aspect of this. 

She says no pulls at all, hard or soft, to activate it. [That always sounds so suggestive to me.] 

Is there anything negative I haven't thought about? 

[gdale6]

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@Anonymous wrote:

So, a couple of weeks ago, I posted about seeing an old Cap One account on my TU report that was listed as "Inactive/never late." The last payment (and the last activity and the last reporting on this card is 2006.) 

I called the EO and asked about this. Finally -- after a week of their trying to call me on the mobile number listed on this inactive card from 2006 -- I finally talked to a very nice and helpful EO assistant who said that this card was restricted back in 2006. (She isn't sure why, but is checking.) 

She also said that there's a good chance that this card can be reactivated -- she's also checking with the appropriate underwriting office and will get back to me next week, but she says it's very likely.

The CL is $1,200.

The APR is 12.99%.

No AF

Perfect payment record.

It's not a card I would use, but it was opened in 1991 and reactivating means that it won't drop off my reports in October 2016. (This means I can take off one of my AUs much earlier than I had planned, since this 1991 open date will make up for that.) The 1991 open date and its possibly staying on my record beyond 2016 is the best aspect of this. 

She says no pulls at all, hard or soft, to activate it. [That always sounds so suggestive to me.] 

Is there anything negative I haven't thought about? 

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A great score if it actually happens. I dont see anything in the negative side. I would use the card every once in awhile to make sure it remains active.

[taxi818]

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@gdale6 wrote:

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@Anonymous wrote:

So, a couple of weeks ago, I posted about seeing an old Cap One account on my TU report that was listed as "Inactive/never late." The last payment (and the last activity and the last reporting on this card is 2006.) 

I called the EO and asked about this. Finally -- after a week of their trying to call me on the mobile number listed on this inactive card from 2006 -- I finally talked to a very nice and helpful EO assistant who said that this card was restricted back in 2006. (She isn't sure why, but is checking.) 

She also said that there's a good chance that this card can be reactivated -- she's also checking with the appropriate underwriting office and will get back to me next week, but she says it's very likely.

The CL is $1,200.

The APR is 12.99%.

No AF

Perfect payment record.

It's not a card I would use, but it was opened in 1991 and reactivating means that it won't drop off my reports in October 2016. (This means I can take off one of my AUs much earlier than I had planned, since this 1991 open date will make up for that.) The 1991 open date and its possibly staying on my record beyond 2016 is the best aspect of this. 

She says no pulls at all, hard or soft, to activate it. [That always sounds so suggestive to me.] 

Is there anything negative I haven't thought about? 

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A great score if it actually happens. I dont see anything in the negative side. I would use the card every once in awhile to make sure it remains active.

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It would not drop off any way,. you said inactive not closed. there is a difference. so i would have just left it alone. obvious the payment history is incorrect as you have never used it. hence never paid for it. i hope it goes the way you want. but this could be bad for your credit too. it goes two ways. geez. if they did not bother me again. i would leave it alone and let it keep doing what it is doing. reporting a positive tradeline on your credit report. the $1200 on the account is totally irrelevent.

[Zorasmiles]

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@taxi818 wrote:

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@gdale6 wrote:

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@Anonymous wrote:

So, a couple of weeks ago, I posted about seeing an old Cap One account on my TU report that was listed as "Inactive/never late." The last payment (and the last activity and the last reporting on this card is 2006.) 

I called the EO and asked about this. Finally -- after a week of their trying to call me on the mobile number listed on this inactive card from 2006 -- I finally talked to a very nice and helpful EO assistant who said that this card was restricted back in 2006. (She isn't sure why, but is checking.) 

She also said that there's a good chance that this card can be reactivated -- she's also checking with the appropriate underwriting office and will get back to me next week, but she says it's very likely.

The CL is $1,200.

The APR is 12.99%.

No AF

Perfect payment record.

It's not a card I would use, but it was opened in 1991 and reactivating means that it won't drop off my reports in October 2016. (This means I can take off one of my AUs much earlier than I had planned, since this 1991 open date will make up for that.) The 1991 open date and its possibly staying on my record beyond 2016 is the best aspect of this. 

She says no pulls at all, hard or soft, to activate it. [That always sounds so suggestive to me.] 

Is there anything negative I haven't thought about? 

---

A great score if it actually happens. I dont see anything in the negative side. I would use the card every once in awhile to make sure it remains active.

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It would not drop off any way,. you said inactive not closed. there is a difference. so i would have just left it alone. obvious the payment history is incorrect as you have never used it. hence never paid for it. i hope it goes the way you want. but this could be bad for your credit too. it goes two ways. geez. if they did not bother me again. i would leave it alone and let it keep doing what it is doing. reporting a positive tradeline on your credit report. the $1200 on the account is totally irrelevent.

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Agreed!

[Anonymous]

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@taxi818 wrote:

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@gdale6 wrote:

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@Anonymous wrote:

So, a couple of weeks ago, I posted about seeing an old Cap One account on my TU report that was listed as "Inactive/never late." The last payment (and the last activity and the last reporting on this card is 2006.) 

I called the EO and asked about this. Finally -- after a week of their trying to call me on the mobile number listed on this inactive card from 2006 -- I finally talked to a very nice and helpful EO assistant who said that this card was restricted back in 2006. (She isn't sure why, but is checking.) 

She also said that there's a good chance that this card can be reactivated -- she's also checking with the appropriate underwriting office and will get back to me next week, but she says it's very likely.

The CL is $1,200.

The APR is 12.99%.

No AF

Perfect payment record.

It's not a card I would use, but it was opened in 1991 and reactivating means that it won't drop off my reports in October 2016. (This means I can take off one of my AUs much earlier than I had planned, since this 1991 open date will make up for that.) The 1991 open date and its possibly staying on my record beyond 2016 is the best aspect of this. 

She says no pulls at all, hard or soft, to activate it. [That always sounds so suggestive to me.] 

Is there anything negative I haven't thought about? 

---

A great score if it actually happens. I dont see anything in the negative side. I would use the card every once in awhile to make sure it remains active.

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It would not drop off any way,. you said inactive not closed. there is a difference. so i would have just left it alone. obvious the payment history is incorrect as you have never used it. hence never paid for it. i hope it goes the way you want. but this could be bad for your credit too. it goes two ways. geez. if they did not bother me again. i would leave it alone and let it keep doing what it is doing. reporting a positive tradeline on your credit report. the $1200 on the account is totally irrelevent.

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You are right in that I should have realized that "inactive" does not mean closed and it would still be reporting on my CR past 2016 if I had left it alone and nothing had changed. That was a miscalculation on my part. [However, I did use it extensively between 1991 and 2006; it's just that specific reporting is not shown.]

I did want to ask, however, in what specific ways could this action be bad for my credit? (Which was my original question.) Maybe I get the card reactivated and someone steals the card and makes charges on it? Maybe Cap One sees that the $1,200 will put me over their internal limits? The other issue is that it's only reporting on one report; maybe getting it reactivated gets it reporting on all three again. 

Much of the reason why I initiated action instead of just "leaving it be" is because I'm not a person to leave things be. Sleeping dogs, sharp sticks, pokes...yep, that's my thing. At the very least, it gives me a sense of control. I don't want them to suddenly discover it next week/month/year and do a creditor-close. I'd rather confront the issue, talk to them, and then, as much as possible, act on my accord. If they want to close it anyway, maybe I can convince them to close it myself. If they reactiviate it, it then just becomes another card that I have to cultivate, like every other card I have. I just don't want it hanging over me -- at some point, SOMEONE is going to ask, like a human being-mortgage underwriter.

[taxi818]

Great points if you don't mind filling witn it. I'm sure closed by lender or consumer makes 0 difference on you score. Or even with manual UW. But outstanding to  have 24 year card. Wonder why they restricted itn first place. 

[Anonymous]

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@taxi818 wrote:

Great points if you don't mind filling witn it. I'm sure closed by lender or consumer makes 0 difference on you score. Or even with manual UW. But outstanding to  have 24 year card. Wonder why they restricted itn first place. 

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Probably because in 2006 my life was such that I was doing things I should not have been doing, albeit things that were supported by a credit card. Not sure how much was being done on a $1,200 limit, though. 

[Chris87]

I am interested to hear what happens. Keep us updated. I had a similar situation and was told that they could not reactivate the account. They said something to the effect that it had to be done within 12 months. Mine had been restricted in 2007, so according to them, it was too late.

[Anonymous]

Not a definitive answer, but the nice associate from the EO called me back to tell me that she has forwarded the case to their "Loss Mitigation" department, and that she'll hear from them early next week, which is what she told me two days ago. They're responsive!

I did ask her why it was restricted and she says the account was flagged due to bankruptcy and/or fraud. I've never declared BK and I've never been a victim of identity fraud, at least not that I know of. I *do* know that I've never conducted fraudalent activity. 

We'll see. 

[Anonymous]

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@Chris87 wrote:

I am interested to hear what happens. Keep us updated. I had a similar situation and was told that they could not reactivate the account. They said something to the effect that it had to be done within 12 months. Mine had been restricted in 2007, so according to them, it was too late.

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Did you just let the account ride, or did you close it, or was it closed by Cap One?