I typically run between $30-50k/month through my Capital One card and pay the balance every month. I am in the process of applying for a large loan within the next few days and wanted to be sure the balance would post to my credit report as close to zero as possible (obviously account balances have a big effect on credit scores).
I paid the balance down to zero but have $7200 in pending transactions scheduled to hit tonight which happens to be when my statement closes and my credit reports are updated. So I go online to make a $7200 payment and the system won't let me. So I call C1 and finally speak to the head supervisor Winston (Employee POS094; I wonder what POS is an acronym for) who tells me there is nothing they can do and they cannot take my payment until the transactions post. REALLY?
You won't take the money I already spent?
Long story short, when I go to apply for this loan to build a new office building my credit report will show $7200 in credit card debt (and probably dip my score by about 20 points) because the high school drop-outs at C1 are helpless and/or incompetent. Needless to say I will be cancelling this account as soon as my building loan closes.
Product or Service Mentioned: Capital One Credit Card.