About 2 years ago I went without paying my Cap1 card for a few months of unemployment, they made atleast $400 in fees off me, and I paid it off. At the time my score was down in the 500s and they restricted my account. They never closed it, it's just restricted, so it shows as a fully positive trade line and as if it's open. Anyways I've called them a few times to get it unrestricted and they always refuse. So I recently once again ask them to unrestrict it... it has all of a $300 CL, how much risk is that? Especially since I now have a 730 score! They said NO once again! I applied for Chase Perfect Card, got declined, asked for a reconsideration and they approved me for 1.5K, applied for AMEX Blue Cash got approved for 2K, I have a BoA for 3K and a Providian for 5K... all good cards and yet they STILL won't unrestrict my 300 account? I almost have to laugh. I bet $100 if I canceled my account and reapplied for a new card they would approve me. Ah well I honestly don't care anyways, it's my oldest TL and they keep reporting me as paying, so I don't really care if it's restricted or not. I'd never use it anyways since they have me at 24% APR.
I HATE CRAP 1!!!!!!!!!!!!!!!!!!! I had 2 accounts for 200....combined into 400...eventually got my limit upto 1950...ALWAYS paid on time and maxed it out so it would show the limit and paid it immidately, paid the annual fee for 3 years....then this past October I asked them to waive the fee, w/o telling me the rep closed the account....I called to ask what the hell, they could give a sh!t!!!!!!!! I was SO upset because it was my oldest tradeline, from 99.....now my oldest line is from 2002...but I have amex & citi w/ 10,000 limits and now patelco w/ 15,000....they'll get my business, apparently crap one just sh!ts on you whether you're good or bad........screw them, I'll be making someone else money, I wouldn't even attempt to do business with them EVER again...
Well first off not meeting your contractual obligations would restrict about any account with almost any lender. Logic dictates that if your not making your scheduled payments, why in the future would you think the same lender would give you another chance? I'm surprised they didn't close it out like most other lender would. You had to be high risk in the first place with only a $300 credit line and Capital One to boot. Close out the account and get on with your life.
It was my first card, I had no credit history at the time, hence the $300 CL. Anyways, they can obviously see I have a clean record ever since then, I got unemployed and missed a couple payments, but I did pay them back 100%. Not to mention they did lie to me, they say it would automatically be unrestricted after 6 months of on time payments or I paid it down to 0... I did both. It's no skin off my back either way, it just seems stupid to me, I paid them off and have a very positive credit history now, they can clearly see other big banks are willing to give me thousands. Heck what's the absolute worst that happens? I rack back up to $300 and don't pay? In that case they still in the long run made money off me from all the fees I paid last time. In the best case I become a big customer and they make good money? Either way like I said, I don't care one way or the other, it shows as a open positive tradeline and it helps my score since it is my oldest TL, even if they unrestricted it, I would never use it, why would I use a $300 24% APR card when I have a 9% BoA card, a 11% Providian card 13% Amex Blue and 15% Chase Perfect Card.
