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Cap One GW letter

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Regular Contributor

Cap One GW letter

Please critique my GW letter to Cap1.  How are they with GWs?

I am writing to inquire as to whether Capital One would consider making a goodwill adjustment to the credit reporting bureaus on one of my closed accounts. I am respectfully requesting if Capital One would be so kind to remove the adverse late payments reporting from this account in reporting to the credit bureaus. I understand this is a rather unusual request--particularly as my account fell behind upwards of 120 days.  This account was eventually completely and fully paid off after being charged off. 

Capital One has been extremely pleasant to deal with and in working with me, and helping me to re-establish my credit.  Capital One has allowed me to prove that I am now more responsible for paying my debts in full. It makes me feel a sense of accomplishment and proud to be able to now repay your company in kind with timely, Paid in Full balances on my NEW credit card for the 4 months since you were kind enough to have extended me new credit, when others company's were not.

If what I ask is too much, then any goodwill adjustment to the reporting bureaus regarding this account would be most appreciated.

Regardless of your decision, please know that I thank you for helping me at a time when it was needed. I am pleased to continue to do business with Capital One, and hope to be able to continue doing business with your company when I am contemplating financing a new automobile.

Kindest Regards,

TU 673 EX (720 Credit score) EQ 690 (08/2009)
TU 698 EQ 697 EX ?? (07/2010)
Message 1 of 6
Frequent Contributor

Re: Cap One GW letter

Capital One has a bit of a reputation on the boards here. I have never had any problems with Capital One myself that weren't my own doing. They don't do "Universal Default" and they are now reporting the full CL to the CRAs when they used to only report your high balance. I have managed to get all of my annual fees removed from my C1 accounts and had my interest greatly reduced (one is at 7.99% fixed and the other is a LIBOR based rate around 11%) and they even ran promotions last year that gave existing C1 holders a bonus for referring their friends.

I'm sending my own GW letter but I'm only asking for them to adjust a 60 day that will come off in October. I like the way yours is written - but I'm not expert.
Message 2 of 6
Senior Contributor

Re: Cap One GW letter

Capital One is notorious for denying GW letters, and also for suing just before the SOL runs out on defaulted accounts.

It doesn't hurt to try, and you letter looks good. Be sure to let us know what they reply.
Here we go again...
Message 3 of 6
Moderator Emeritus

Re: Cap One GW letter

I know it is hard not to be a Debbie Downer on CapOne, but there have been several success stories in here as of late, mostly via phone.
Message 4 of 6
Regular Contributor

Re: Cap One GW letter

i'm confused - how was the account fully paid off AFTER being charged off? did you pay the CA? did cap 1 offer you a new card?
Message 5 of 6
Moderator Emeritus

Re: Cap One GW letter

crackers8199 wrote:
i'm confused - how was the account fully paid off AFTER being charged off? did you pay the CA? did cap 1 offer you a new card?

CapOne likely CO'd his CC. It can say CO and show a balance due. To avoid a CA and added interest, OP probably paid CapOne the balance due.
Message 6 of 6
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