Question about missed payment on credit report
Sep 22, 2014, 11:23 pm
#1
Original Poster
Join Date: Sep 2014
Location: TYO
Programs: Hyatt Globalist
Posts: 1,744
Question about missed payment on credit report
Hi,
I racked up a bunch of Chase sign up bonuses this year (CSP, Hyatt, MileagePlus) and decided to try one of their business cards to replenish my UR balance. I was denied, which I expected as I had probably reached my maximum CLI with chase, and was planning to ask to shift some of my CL around to get it approved. ,The agent said that they were unable to approved the card because 1) my business didn't generate enough revenue 2) i had a a missed payment on my credit report
This missed payment was a surprise to me as I always pay my accounts in full. I have been approved for 3 Chase cards this year ($40k CL total), granted they were auto approved, but I only just now heard about this being on my credit report. Clearly chase is more diligent when it comes to business cards.
I asked her what account this was one, and she told me it was on a Capital One account. Then it came back to me. This incident was from a Capital One prepaid card (my first card) that I had about 8 months ago. I never used it, and threw it in the sock drawer. I then applied for a Chase Freedom CLI and they mentioned there was a balance on my Cap One. I was surprised as I never used it. I went to check, and noticed they posted the yearly fee which I had forgotten about to my account. I immediately paid it and closed the account, but did not realize until now that it was even posted as a late payment on my credit report.
My question: is there anything I can do about this? Is it worth calling CapitalOne and trying to get this cleared?
I realize the Chase biz card is probably out of the question right now given the circumstances, but how can I avoid this preventing me from getting approved for Chase business cards down the road?
I racked up a bunch of Chase sign up bonuses this year (CSP, Hyatt, MileagePlus) and decided to try one of their business cards to replenish my UR balance. I was denied, which I expected as I had probably reached my maximum CLI with chase, and was planning to ask to shift some of my CL around to get it approved. ,The agent said that they were unable to approved the card because 1) my business didn't generate enough revenue 2) i had a a missed payment on my credit report
This missed payment was a surprise to me as I always pay my accounts in full. I have been approved for 3 Chase cards this year ($40k CL total), granted they were auto approved, but I only just now heard about this being on my credit report. Clearly chase is more diligent when it comes to business cards.
I asked her what account this was one, and she told me it was on a Capital One account. Then it came back to me. This incident was from a Capital One prepaid card (my first card) that I had about 8 months ago. I never used it, and threw it in the sock drawer. I then applied for a Chase Freedom CLI and they mentioned there was a balance on my Cap One. I was surprised as I never used it. I went to check, and noticed they posted the yearly fee which I had forgotten about to my account. I immediately paid it and closed the account, but did not realize until now that it was even posted as a late payment on my credit report.
My question: is there anything I can do about this? Is it worth calling CapitalOne and trying to get this cleared?
I realize the Chase biz card is probably out of the question right now given the circumstances, but how can I avoid this preventing me from getting approved for Chase business cards down the road?
Sep 23, 2014, 4:19 pm
#3
Join Date: Aug 2006
Posts: 756
You cant remove the "missed payment/late payment" yourself. The only way is for Cap 1 to do so on their end. As suggested, either write or call CS to plead your case.
Problem is timing as most banks will often do so if it was your 1st time you missed a payment and it was fairly recent (within a few mths or so). But unsure how long afterwards they cant do anything about it.
Problem is timing as most banks will often do so if it was your 1st time you missed a payment and it was fairly recent (within a few mths or so). But unsure how long afterwards they cant do anything about it.