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Capital one did me dirty.... :( 30k credit line closed- lates and fees after zero balance all from their annual fee


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So my longest trade account is a cap one with a 30k limit. I paid it off last year and it sat basically untouched for a year. I recently went to re-fi my home and auto and found out my score had dropped by 60 points. I was assed an annual fee, didn't receive a bill and my autopay was turned off. Then was dinged with late fee's and derogs for 4 months until they got rid of all the fees and closed my account. I'm fuming. Anyway I call cap one, they say they can't help me over the phone but they want to make it right, they put in a request to re-open my account. And directed me to send a letter stating what happened and the results I would like to their po box. What letter should I write them, has anyone had luck getting them to fix their mistakes. Do I write a simple letter stating what happened and ask for help or do I send a nasty gram cc'd to a lawyer?

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This is not entirely their mess that was created.  I cannot stress enough how frequently this sort of subject appears on this site...it is one of the reasons I refuse electronic billing statements and insist on a mailed statement.  It is ALSO the reason (well, one of them) that I log into EVERY one of my accounts at least once per month...the other reason is holdover paranoia from being a victim ~20 years ago. 

 

I ALSO suspect that there were calls to the phone number of record on the account.  Too many people don't answer numbers they don't recognize, but that does not mean they didn't call...

 

A tailored letter, specific to your situation, is what you should write.  DO NOT use cut-and-paste generic tripe.  You want them to help you, and the whole flies/honey/vinegar thing enters the chat here. 

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While this is awful and another reason to avoid cards with annual fees if possible it sounds like there is a way to fix it with a carefully crafted letter?  You should definitely write it and explain the circumstances, tell them you were saving up for a house so didnt use cards much.  There is another easy way to prevent stuff like this from getting out of control and that is to use a free finance site like mint from intuit, personal capital or YNAB and check it atleast weekly.  I like mint because I like intuit products and it was the first one I used so am familiar with it in general but lots of others like some of the alternates.  

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7 hours ago, Em n EM said:

I'm fuming.

Fuming?

 

You should be thanking your lucky stars that CapitalOne's response is that they "want to make it right."

 

A consumer is responsible for keeping track of his/her financial accounts & credit facilities; including all recurring fees associated therewith.

 

I'm surprised CapitalOne one is being as conciliatory as it seems they're being here.  Their willingness to re-open the account is a precious opportunity.  Make sure you make the most of it - and that means going in the opposite direction from sending a nastygram.

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9 hours ago, Em n EM said:

Do I write a simple letter stating what happened and ask for help or do I send a nasty gram cc'd to a lawyer?

 

Send a brief personal letter acknowledging your mistake, and be polite and contrite. 

 

Not sure why you'd want to be nasty.  

 

You're asking for Capital One's help to recover from a mistake that you made, so you're requesting a courtesy.  You aren't entitled to anything here.

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  • 2 weeks later...
So my longest trade account is a cap one with a 30k limit. I paid it off last year and it sat basically untouched for a year. I recently went to re-fi my home and auto and found out my score had dropped by 60 points. I was assed an annual fee, didn't receive a bill and my autopay was turned off. Then was dinged with late fee's and derogs for 4 months until they got rid of all the fees and closed my account. I'm fuming. Anyway I call cap one, they say they can't help me over the phone but they want to make it right, they put in a request to re-open my account. And directed me to send a letter stating what happened and the results I would like to their po box. What letter should I write them, has anyone had luck getting them to fix their mistakes. Do I write a simple letter stating what happened and ask for help or do I send a nasty gram cc'd to a lawyer?

Write them the biggest suck-up letter possible.

 

Admit you are stupid on so many levels. Admit you were lazy. Admit to having the memory of a dyslexic gerbil. Tell them you have started to take the meds again that your shrink prescribed and will start using their card responsibly and continually.

 

Tell them CapOne is the love of your life and your life has been dismal without them.

 

Beg for forgiveness.

 

A few months after they reopen the account and remove all the derogatory remarks from your credit reports, close the account. Close every account you have. You are too dumb to properly manage credit.

 

 

Sent from my iPad using Tapatalk

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On 9/29/2021 at 5:52 PM, PotO said:

Write them the biggest suck-up letter possible.

 

Admit you are stupid on so many levels. Admit you were lazy. Admit to having the memory of a dyslexic gerbil. Tell them you have started to take the meds again that your shrink prescribed and will start using their card responsibly and continually.

 

Tell them CapOne is the love of your life and your life has been dismal without them.

 

Beg for forgiveness.

Ha

A few months after they reopen the account and remove all the derogatory remarks from your credit reports, close the account. Close every account you have. You are too dumb to properly manage credit.

 

 

Sent from my iPad using Tapatalk

PotO you should (if you don't already do) write for late night comedy skits. 

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