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Should I wait for the letter from Capital One stating that the information is incorrect due to the closure error and then send that to the CRA's?

I had a Capital One card for years (my oldest card). It had a low limit that they would never raise and I never used the card as I had other cards with much higher limits along with a fantastic credit score. Last March they tried to charge me a $39 annual fee. I called them about this and the representative said that she would waive the fee as a good gesture for one year only. I decided that this was useless and told her to close the card out. She cleared the fee and closed the card (or at least I thought). Fast forward to a few days ago I get a warning on my Amex credit monitoring service. I logged in to see a 90 day late and a $110 balance. Yesterday, I called Capital One and spoke to a helpful representative and explained the situation. She immediately reversed the fee's and said she would have the account closed and my credit reports rectified - I have noticed a 100pt drop across the board! The call got disconnected before I managed to confirm everything as my cell coverage was poor. Today, I found my login details and when I logged-in, the fee's had been refunded but a balance of $39 was showing and the account active. I called back today and spoke to another helpful representative who said that the account had not been closed for some reason but she would do so immediately and zero the balance. I asked her about updating the credit reports and she said she would send another request (as two would do no harm) but it will take 60-90 DAYS to have them updated. WTF! How can they update them immediately with bad details but take so long to have incorrect information that was caused by them not closing the account last year, to be removed? She said that it was the credit bureaus that take their time doing it, not Capital One. She did say she was sending me a letter with the account closure and also a notice that they have notified the credit bureaus with the correct details. Is there anything I can do about this crazy, long time to have my reports corrected? I have (up until now) a spotless credit file and a great score and I don't want any of my other creditors taking adverse action because of Capital One's error.

You dropped the ball on that one Ron!

No, I meant I have a Chase card and they didn't peak at my CR when I applied for that which is why I am thinking they have some something in place with the CRA's that when someone app's for an Amex, they get informed? ...lol

Hmmm, possibly? They never did it to me when I applied for my US Airways....lol

They do seem to be in a similar par?

I have had a Slate since 2008 (does that rhyme?)....lol Same CL as you but never an increase. OK, so I only pretty much use it for some monthly auto-pay bills and always PIF but I would have thought I would have seen some love? ...lol AFAIK, Chase loves a hard pull so, if you get anything less then count yourself lucky Good luck!

Then it isn't just my suspicious mind?.....lol

Thanks I do need to check dads.When son tried for a citi card it wouldnt even let the app go thru keep going back with red letter SSN saying "you have to provide a valid SSN.Pretty sure thats cause his dad has a citi card and they are now seeing a different SSN That sounds about right. I am sure a quick call with Citi will sort out the issue. I would also check that Dad's SSN is not on your Son's credit file for some reason?

I recent applied for another Amex (and was approved). I just checked my Experian credit report and saw the expected Amex hard pull: AMERICAN EXPRESS Address: PO BOX 981537 EL PASO TX 79998 No phone number available Date of Request: 05/13/2012 Then in the soft pulls, I noticed on the exact same day: CHASE CARD SERVICES Address: PO BOX 15298 WILMINGTON DE 19850 No phone number available Date of Request: 05/13/2012 Coincidence? I think not! Does Chase have a system in place where if a consumer has an Amex pull they get notified? I have read somewhere that they are competing to get Amex customers?

It's good that they didn't pull his credit and deny him for having an apparant account with them. The system has just done a "match" and rejected the application. This is the problem with SR and JR. At least he is not having to deal with negative issues from the SR and trying to clear that up. As advised above and although it can be a pain, until he moves to another address he may just have to app manually by phone. I would definitely check copies of your husband and sons credit reports to make sure there is no mismatch of SSN's? Good luck!

I think the lending department is on meltdown with all the apps and calls......lol

I agree that they are probably doing manual review matching to automated decision making cross checks at first which is probably why it's taking so long for approvals/declines to come through. But also remember although they seem re-builder friendly and easy for deposit account approvals, revolving accounts no doubt, will be more stringent. Keeping my fingers crossed for everyone though!

You may get a late payment fee but hopefully, they won't put a late on your CR - YMMV. Maybe give them a call to let them know the payment is made and plead your case if necessary... it can't hurt? Good luck!

you will loose two things.... $400 reducltion from your total credit lines $8/month annual fee You will not notice the reduction in your credit line but you will notice over $100 back in your pocket each year, from no more annual fee! Hope this helps? YMMV