I have a Capital One card that I've had for a while now with perfect payment history. It was one of the first cards I got after all the bad stuff from the early '90s dropped off my reports. My reports are now clean as a whistle, all positives, under two years old, however, I'm back, I've paid my dues and am a model credit citizen. Interestingly, in today's mail, I got a letter from Capital One saying if I fill out the enclosed letter, they would send me a credit card with a $500 limit AND they would be kind enough to add the $1,100 that AMEX charged off (in 1991) to the bill and I could pay it off and live happily ever after. Since the $1,100 is more than the $500 they're offering, essentially I'd just be resetting the clock by answering this nonsense. The letterhead on the paper that mentions Amex is not Cap 1 but some person's name and Risk Management Alternatives out of Amherst NY. The envelope and tear off portion to mail it back is to Cap 1 in Virginia. WhoTF do they think they're kidding here?
send them a validation or a cease and desist. your choice. if they've even peeped into your credit reports, I'd sue them... the account is past the reporting period and any collection agency inquiry will poison your file. nice try, rma. and just think, their offer would immediately put you in an over the limit position, generating huge fees every month too... jerks.
I got that offer too about a citi card. I sent a letter back to the person listed on the offer letter at Risk Management Alternatives (I believe their name was Zare Mak or something like that). A month later my letter was returned by the post office as undeliverable. Go figure. I have never heard from them since and this was August when I got their letter (right in line when the old deliquency was to drop off for being beyond the 7 year limit).
Hmmmm....I recently saw an AR inquiry show up on EQ for a Cosi Receiveables Mgmt Inc. When I called EQ and asked who they were, they said it was Cap1. I wonder if Cap1 is gonna try to collect an old Cap1 charge-off that was discharged in BK back in early 1998. I do have a good account with them currently (Kmart MC). I just thought it seemed odd that they would do an AR using that name instead of the normal Cap1 I am used to seeing.
Several have tried that with me. Don't bite. I just sent RMA packing with their tail between their legs....
I actually wouldn't mind squaring up the old Cap1 as long as they agreed not to report "Paid after collection". I'd do it if they agreed in writing to delete the negative completely. It would be one less "incl in BK" that I'd have to dispute off. I don't think they'd bite anyway though.
