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@Bdh1975 wrote:This. There was one time about a month ago I had paid off my WM MC - a $2000 payment - and they put a five day hold on it. Understandable. I knew though from previous experience while banking at NFCU that I could call CapOne and they would call NFCU to verify funds had cleared so I did the same with that recent big payment. CapOne called my credit union and even though I was on the phone call as well, they refused to provide any third party any information about me or my account. This, from the credit union where just yesterday I walked into the branch and they happily withdrew $3300 in cash from my account without asking for my ID. They never do. Crazy, I'm telling you. They do not interface with Plaid, either. But anyway if they are not willing to talk with Capital One with me on the phone giving my authorization, they aren't going to do diddly squat if I ask them to contact Capital One and admit they made a bad mistake.
FYI - just because I ran into this the other day with NFCU, the rep suggested I zelle $ from my outside bank into my NFCU account and then make the payment to my NFCU CC from the NFCU account and they wouldn't ever place a hold on the payment
@Bdh1975 Restricted accounts are different in banking. For example a consumer has a savings and a checking account with a bank or credit union. The consumer gets an alert about a transfer of funds that the consumer did not make. The consumer calls the telephone banking number and talks to an agent. The telephone banker can put a restriction on the accounts that will prevent money from leaving the account but does not block money from coming into the accounts. The customer will need to go into the bank to resolve the issue. In this case the restriction depending on investigation what happens to those accounts. Sometimes the accounts are closed and new accounts are opened.The variable is the reason and the cause of the restriction.
Closed accounts are quite different. In my experience I have called to close a credit card. one of the last steps in that process is the agent will ask If I close the account the account cannot be reopened. Do you want me to proceed in closing the account? In your case it is going to very tough if not impossible to have Cap One reopen those accounts in my opinion.
Just a couple questions in relation to your search for a new credit union. In your search for a new credit union or bank how important is it to have a branch to go into? For me I am a member of 5 credit unions none of them are in the state where I live. For others it is very important to have a local branch to go to and for very valid reasons. I could offer suggestions if you would be interested.
In case anyone else reads this thread - there is hope!
I appealed the closure twice, both times sending an email to the executive office, and today I got a phone call saying your cards are reopened effective within 48 hours!! I went into the app and they were actually already reopened, with my rewards/cash back added back and everything. All three cards. So yes, there is hope!!!