Put in a Planetfeedback this week and got to speak to Mr. Cooke again on Friday. Had to settle an old Cap 1 charge off before closing on my new house. Spoke with him then on 7/3/02 and settled the account on 7/5/02. Was told within 30-90 days that all three CRA's would be updated. Send in a PFB that over 60 days had passed and no update. Also had some confusion over the Cap 1 Plat. M/C that I would be considered for limit increase after 3 months. Had a hard inquiry pulled after two months, but was denied an increase through customer service. Mr. Cooke gave me a $500 limit increase. Here is a copy of the letter I send and the problems that I had. Dear Mr. Fairbank, I'm writing to alert you to a problem I've had with a credit card issued by you. My problem concerns billing or payment. I hope by bringing this to your attention, the problem will be addressed. This incident has made me very annoyed. Here's what happened: The details of my complaint are three-fold. First of all, I settled an old charged-off account with Mr. Cooke of Capital One back in July. This was done at the closing of my mortgage loan on July 5th, 2002. Upon receiving the money that was settled on, Capital One agreed to update the status of this account to "settled" with an upgrading to R5 from R9. I was told that it would take from 30-90 days to accomplish this. It has been over 60 days and my account has not been updated. This is causing me to continue to have a lower credit rating. Please update the change in status with all three credit reporting agencies. The second complaint is regarding the new Capital One Platinum Mastercard I received in May, but activated in July. I was told by customer service when I activated the card that I would be considered for a credit limit increase after three months if I paid my bill on time. Not only have I paid my bill on time, I have made more than the minimum payment every time. I have also made several payments each month by using the online payment function. I requested a credit limit increase by using the automated phone service and I was turned down. I was told that I was not eligible for a limit increase for a year. What is this? I spoke to a customer service representative and was told that I was deliquent on my first payment. This is not true. In fact, I was charged a past due fee on July 4th. I didn't activate the card until July 6th, the day after I closed my mortgage loan. The past due fee was even refunded to my account. The customer service rep told me I was not eligible for a limit increase until November, which would be six months from the time I was issued the card. I also received a letter saying that I was turned down for a limit increase because I have a previous deliquency status with Capital One. What the hell is this. A previous deliquency that was settled in July is keeping me from getting a limit increase? This is unacceptable. Here's what I want you to do: First of all, Capital One needs to live up to the agreement that was made and update all three of my credit reports with the three major credit reporting agencies. Second, Capital One should give me a limit increase based on my income and my excellant repayment history. Also, the fact that Capital One pulled my Equifax report on July 15th, 2002 should result in a liimit increase or Capital One needs to remove the inquiry. In the future, I probably will do business with you again. And I might recommend you to others. I appreciate your taking the time to listen to my complaint. I hope it can be addressed. Limit increased from $325 to $825, thanks to Mr. Cooke.
