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Is Cap One reporting correctly?


lilchasey
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Looks like they are reporting it correctly AND making it seem worse then it is. Crap one is just like that. They often report every month too, making it always look new. Even if you dont default they still like to make it hurt your credit score. It says date of last payment is 8/2000?? but DOLA 8/2001?? so it will probably fall off in a year to a year and a half.

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Have you paid this account in settlement? I have an account I settled with Cap 1 in the past -- they have current status as "Paid CO". I do not believe your current status should read as it currently does.

Editing to add -- they do show "paid", but that current status just looks all wrong. Maybe some of the experts on the board will weigh in.

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Guest mikey
Looks like they are reporting it correctly AND making it seem worse then it is. Crap one is just like that. They often report every month too, making it always look new. Even if you dont default they still like to make it hurt your credit score. It says date of last payment is 8/2000?? but DOLA 8/2001?? so it will probably fall off in a year to a year and a half.

actually 3/2001 not 8/2001...and i believe that DOLA is where they are claiming that the last activity is the charge off to the acct

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Sorry I typed the wrong date, I meant DOLA listed as 3/01........ Date of last payment listed as 8/00......but lilchasey says it was charged of 8/01. When was the actual DOLA? The last on time payment.

Unfortunetly with Crap One you will probably have to wait it out. You can still attempt to dispute it as not mine or paid in full, you could get lucky. But they are hard to get removed. You can also try Goodwill letters...... I have heard of it working occasionally, but not often. May be worth a try if you dont want to wait for it to drop off.

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Well, I believe that the DOLA (03/2001) and the CO date (08/2001) are correct. I don't have the records, but that's about the time I started having trouble. I was just wondering if the current status (120+ DAYS PAST DUE) is hurting me more than if it was saying what tufftub's says: Paid CO. Or if it really even matters anymore at this point. I'm using my past mistakes now to learn how to really read these credit reports. Nevermore, I might wait until it has one year left and then try a Goodwill letter......who knows? And thanks mikey for that link! Very interesting!

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The current status of 120+days past due appears to be wrong and will hurt your score very much. Since you settled the account it is no longer past due, therefore, it should read "paid" or "settled" - something like that.

I wrote to Cap1 regarding incorrect status reporting on my account and surprisingly they corrected it within 30 days.

honeycomb

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I had a couple go-arounds with CapOne. First, I paid the balance on the CRA reports, then they reported as having a balance-- and an excessively high one at that. I complained, and they wrote back that they were "accepting my settlement". Not thrilled at this, I wrote them later and copied the AG in their state. They called me back, saying they wouldn't hold me responsible for the remaining balance and they'd mark the account "paid in full after charge-off".

I think that's progress, but I'm not sure. There might be a round three.

I think CapOne is currently in the business of trying to get away with whatever they can, then having a mop-up team ready when they get caught. Not necessarily the best way to do things in most people's books, but that seems to suit them.

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