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Will Capital One close these accts?

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Senior Contributor

Will Capital One close these accts?

Someone I had been helping had a returned pymt. on both cards I believe.  Went over limit on both cards, one being a flexible spending limit card.

Card #1 is paid off.  The whole credit limit is intact.

Card #2 is paid off as of this morning, just needs to clear the bank.  It too had been maxed out, down to 58% last week.  Credit limit still intact and the Available cl was the actual available credit after pymt.

  1. Will card one be closed or restricted or anything?
  2. Will card two survive?
  3. OR will Cap1 close both once this final pymt. clears the bank today or tomorrow?

What's your input? Thanks in advance!

 

”MY TAKE HOME PAY DON’T TAKE ME HOME”
Message 1 of 25
24 REPLIES 24
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Community Leader
Senior Contributor

Re: Will Capital One close these accts?

How long were they maxed out, and how long ago was card 1 paid off?



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Message 2 of 25
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Senior Contributor

Re: Will Capital One close these accts?

I believe both cards maxed out, paid down some, then maxed out again in a cycle of a few months.  Card 1 was paid off probably 5 or 6 days ago.

”MY TAKE HOME PAY DON’T TAKE ME HOME”
Message 3 of 25
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Community Leader
Super Contributor

Re: Will Capital One close these accts?

If there's one thing cap1 doesn't forgive, it's a bounced payment. People have had their accounts shut down for one, but it seems 2 is the normal trigger. Don't know if they would have to be on the same card or across all of the accounts. I kind of remember reading it happening to someone across multiple cards.







Message 4 of 25
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Senior Contributor

Re: Will Capital One close these accts?

@Brian_Earl_Spilner Do you think they are waiting for the last pymt to clear before closing them?  

”MY TAKE HOME PAY DON’T TAKE ME HOME”
Message 5 of 25
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Community Leader
Super Contributor

Re: Will Capital One close these accts?


@GApeachy wrote:

@Brian_Earl_Spilner Do you think they are waiting for the last pymt to clear before closing them?  


Usually AA happens immediately. In the case of the first card, it looks like it's restricted. The app would say it. They could also be waiting until they know the payment has cleared before releasing available credit. Cap1 isn't shy about closing an account immediately, but who knows. I'd say it's still 50/50 right now.







Message 6 of 25
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Moderator

Re: Will Capital One close these accts?

@GApeachy  I really dont think anyone can answer those questions because card was maxed then payment bounced.

 

Capital One could shrug one time, or they could assume that bounced payment was an attempt to restore credit line with bounced payment while running up card again. 

 

I strongly suggest whomever you were helping get on a phone and talk to Capital One CSR sooner rather than later, because (this is an important because) if the payment account is same one as before, the only reason for bounce is insufficient funds, and that will require human intervention.

 

 

Message 7 of 25
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Senior Contributor

Re: Will Capital One close these accts?

@Remedios thanks for responding.  As it stands now card #1 is paid off reflecting 0 balance and the credit limit is intact; however, the available credit is a fraction of the cl.  Card #2 pymt. is processing through their bank now and the available is reflecting correctly and the cl is still intact. So when the pymt clears and if CapOne decides to close one or both accts. maybe it won't be so bad having the balances pd. down to $0.  I think that was generous of CapOne if that's the case.  Do you agree?  Would there be any negative notation if closed by guarantor but with a zero balance(s)?

 @Brian_Earl_Spilner  they checked the app and it still shows both cards open and even has a message to unlock the card for immediate use on Card #2.  Where would the "restricted" have been?  Across the homepage?  

 

 

 

 

”MY TAKE HOME PAY DON’T TAKE ME HOME”
Message 8 of 25
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Community Leader
Super Contributor

Re: Will Capital One close these accts?


@GApeachy wrote:

@Remedios thanks for responding.  As it stands now card #1 is paid off reflecting 0 balance and the credit limit is intact; however, the available credit is a fraction of the cl.  Card #2 pymt. is processing through their bank now and the available is reflecting correctly and the cl is still intact. So when the pymt clears and if CapOne decides to close one or both accts. maybe it won't be so bad having the balances pd. down to $0.  I think that was generous of CapOne if that's the case.  Do you agree?  Would there be any negative notation if closed by guarantor but with a zero balance(s)?

 @Brian_Earl_Spilner  they checked the app and it still shows both cards open and even has a message to unlock the card for immediate use on Card #2.  Where would the "restricted" have been?  Across the homepage?  

 

 

 

 


In the app, under the card name. Years ago it happened to me. Was unable to make my payment for a few months because of life. They restricted the account. I asked them to close it when I paid it off and they were nice enough to remove all the derogatories due to the situation. Didn't even have to write a goodwill letter, just asked over the phone.







Message 9 of 25
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Moderator

Re: Will Capital One close these accts?

Cards get closed all the time.

There is whole "manual review blah blah blah", but in my personal experience,  no one ever asked why.

Any UW who's held the job longer than one hour understands cards get closed, and there is nothing to indicate closure was a result of AA. 

 

Hopefully they wont close them.

 

Message 10 of 25
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