Can Cap or Credit One reopen restricted accounts?

[Envisioner]

I have one restricted account reported as closed with each company as the results of returned payments.

Neither account ever became delinquent so the payment histories are clean.

From what I've heard Capital One restrictions are near universally irreversible but Credit One has a reputation for granting goodwill requests so I'm hopeful that they might be a possibility on a case by case basis?

I actually have a restricted account with First Premier closed for the same reason which was open eight years and also never 28+ days late though I am fairly certain that closure is permanent.

If anyone has any idea as to the probabilities with the above companies so that I might prioritize their repayments accordingly I would really appreciate it;

thanks.

[pizzadude]

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@Envisioner wrote:

I have one restricted account reported as closed with each company as the results of returned payments.

Neither account ever became delinquent so the payment histories are clean.

From what I've heard Capital One restrictions are near universally irreversible but Credit One has a reputation for granting goodwill requests so I'm hopeful that they might be a possibility on a case by case basis?

I actually have a restricted account with First Premier closed for the same reason which was open eight years and also never 28+ days late though I am fairly certain that closure is permanent.

If anyone has any idea as to the probabilities with the above companies so that I might prioritize their repayments accordingly I would really appreciate it;

thanks.

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Just to clarify, both your Cap1 and Credit one accounts are closed but remain unpaid ?

[Envisioner]

Yes; they both have unpaid balances within the original limits but are restricted from use. Neither has been charged off.

I'm not going to request that they be reopened until the balances are brought to $0, I'm just trying to get an idea as to the possibility or impossibility for each account

Thanks

[pizzadude]

I'm guessing at some point they'll be reported as late and / or charged off so you should probably make arrangements to pay them.

You can ask for them to be reopened but I think the odds are not in your favour, especially as they continue to remain unpaid.

[Envisioner]

Pardon me; I thought "unpaid" meant not yet fully repaid,

I have been making monthly minimum payments on both accounts and chipping away at their balances which I was assured would prevent descent into collections.

[pizzadude]

Ok then that's good, it sounds like at least from a credit reporting perspective you'll be okay but I doubt they'd even consider reopening until you've paid them in full. 

[Brian_Earl_Spilner]

If your charging privileges are just revoked you can reach out and just ask them.  But you have returned payments which is basically the worst thing you could do with an account. I'm honestly surprised cap1 hasn't already closed your account. Plenty of people on here have had their accounts closed after a single bounced payment. Not sure how credit one handles it. 

[Envisioner]

Sorry again;

the accounts are in fact "closed" and are being reported as such.. cancelled or closed by credit grantor

[rmduhon]

Closed and restricted (at least for Capitol One) are different things. Restricted means that there is an issue of some sort that needs to be resolved before it can be used again, while closed means that the account isn't open, and can't be used again at all. I've never heard of a closed account being reopened, while I have had a restricted account that got fixed (they wanted verification from my bank regarding my bank account).