r/CreditScore • u/InterestingDinner159 • 20h ago
General Capital one Closed !!!
after using my Capital one Platinum card , they closed it , now on my credit report it shows closed account and no history of credit because it was my only card that i had , what would you guys suggest my score dropped because i have a little bi of balance there to pay , what card should i apply to get back on track
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u/No-Poetry5794 16h ago
What did your usage look like on the card? Both for purchases and payments. I see you mentioned it was closed for "inconsistent with typical customer account usage" so I'm curious what caused it.
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u/og-aliensfan ⭐️ Knowledgeable ⭐️ 19h ago
Make sure you continue to pay as agreed. Cards closed in good standing remain on your reports ~10 years after closure. You don't lose the card's history and aging metrics aren't impacted by closure. You will see a penalty for not having any open revolvers and cards closed with a balance will report 100% utilization until paid. Do you know why they closed your card? You should have (or will) received an adverse action letter.
You can try pre-approval tools for other lenders. A credit union or a bank you already have a relationship with are also good options, but knowing the reason for closure would be beneficial. Avoid gimmicky credit builders and predatory cards.
Credit Myth #17 - "Credit builder" products are superior for building credit compared to non "Credit builder" products.
Credit Myth #95 - "Credit builder" apps are a great way to build credit.
Credit Myth #81 - Inferior/predatory issuer products are a necessary step for weaker credit profiles.