Why is my Capital One Account Restricted, And How Do I Fix It?

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By: Michael Restiano
Updated On: May 28, 2022
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Why is my Capital One Account Restricted, And How Do I Fix It? If you recently got a Capital One credit card, the chances are that you have this question in mind. Unfortunately, there is no easy answer to this question. Only the representatives of your local Capital One branch can help you fix it.

Here's how to go about fixing your restricted account! But let us understand what is and the reasons for restricting your account.

What Is Capital One?

Capital One is a financial services company that offers credit cards, savings accounts, and more. It was founded in 1988 and is based in Virginia. It has more than 31 million customers across North America.

How Does Capital One Work?

Just like most other credit card companies, Capital One gives its customers the ability to make purchases with their cards and then pays for them at a later date.

Customers are given an interest rate on any purchases they make with their cards, which is determined by various factors such as their creditworthiness and how much of a risk it believes they pose.

Capital one account

Customers can then pay off their balance at any time and avoid interest by doing so. Some customers choose to carry a balance and pay for their purchases over time, which is usually done by making monthly payments.

What Are The Benefits Of Using Capital One?

The ability to make purchases with your card and pay for them later is obviously a benefit. However, This also offers benefits such as its Credit Tracker tool and the Quick Card Numbers feature, which allows you to change your card number instantly if it is ever compromised.

What Are The Downsides Of Using Capital One?

Capital One's annual percentage rate (APR) is currently 25.99%, which is high and means that it is not ideal for carrying a balance. While this APR can be lowered or raised based on your creditworthiness and the type of card you have, it is important to remember that the majority of major credit cards do not come with such a high APR.

Why is my Capital One Account Restricted, And How Do I Fix It?

There are a number of reasons that your account may be restricted. Sometimes, Capital One will place restrictions on accounts in order to protect themselves from incurring unnecessary losses.

What Might Be The Reasons For Restricting Your Capital One Account

In other cases, the creditor might have placed the restriction on your account for its own protection when they believe you may not be able to make payments or when there is suspicious activity going on with the account. The following are possible reasons for your Account being restricted:

You Have Reached Your Credit Limit:

This is often the case if you have not paid your bill within 30 days. Your creditor will likely place a restriction on your account until your balance due has been paid off;

You Are Behind On Payments:

If you've only missed 1 payment, it should be possible to make up for this by making 6 consecutive monthly payments. However, if you're behind on payments by 2 or more months, you will likely need to wait until your account becomes un-restricted automatically;

Suspicion Of Fraudulent Behavior:

If Capital One suspects that the recent transactions on your account are not really yours or might be fraudulent, they may place restrictions on your account. This is also often the case if you've made a number of purchases with your credit card that are different from the normal routine for you;

If The Information On Your Account Seems Incorrect Or Incomplete:

If Capital One cannot make contact with you or if they don't think that the address you have provided is correct, they may place restrictions until they can verify your identity. it may also place restrictions on your account if they are unable to verify the information given for an automatic payment transaction.

Your Account Has Been Inactive:

Capital One will likely restrict you from using your credit card if there have been no transactions made or funds accessed with it after a certain period of time, usually around 1-4 months;

Your Account Is Delinquent:

If you're behind on your payments, Capital One will likely restrict your access to credit until you've paid off the balance due;

If there are no problems with your account and if none of these apply to you, it might be worth checking with your financial institution before attempting to contact directly.

What To Do When Your Account Is Restricted?

There are a number of things that you can do to either fix or prevent your account from being restricted by Capital One. If you know what caused the restriction on your account, make sure that you take action immediately to rectify the issue.

If you are not certain of what is going on with your account, call at 1-800-955-7070, and one of their representatives will be able to help you.

Timely Payments:

A great way to avoid having your account restricted is by making timely payments. This is especially important if you have a payment due within the next few days, as an untimely payment may lead to Capital One restricting your account mid-payment.

To make sure that your payment goes through, you should try to make your payment before the due date or at least several hours before.

Staying up-to-date on payments will also help ensure that doesn't suspect any suspicious activity going on with your account and won't restrict your account from such an issue.

Remember not to be late on payments (or at least attempt to pay on time) and always pay more than the minimum due if possible because Capital One charges very high-interest rates.

Urgent Actions:

If you are in urgent need of cash, make sure that you do not resort to any illegal or unethical behaviors. This includes actions such as applying for loans with companies that may seem reputable but that actually isn't (such as lending companies, payday loans, etc.), applying for credit cards with your name even though you don't know where the card is coming from, and writing bad checks. These acts are illegal and may lead to suspect fraud on your account.

Personal Actions:

It is important to make sure that you are not doing anything to cause Capital One to mistrust your intentions. This means that putting yourself in situations where you cannot make payments on time or at all is a bad idea, as even if it does not restrict your account, it will likely lead to them charging you very high-interest rates on future purchases.

It is also important that you keep your account information safe and secure, as allowing someone else access to your account may lead It to think that you are allowing suspicious behavior on the account.

Significant Increase In Activities:

If you have had little activity on your account for a while and then suddenly there is a significant increase in activity (such as making a purchase that is above your credit limit), It may restrict your account due to the sudden change in activities.

This can be prevented if you avoid making a significant purchase or withdrawing money from the bank, as the increase in withdrawal amount will typically prompt a quick response from Capital One, allowing them to warn you before they restrict your account.

If this does happen, make sure that you contact and explain your situation as soon as possible, and they should be able to help you resolve the issue.

Capital One Auto Purchase:

If you have recently received a Capital One Auto Purchase credit card, it is important that you understand what this means before making any major purchases on the card.

With an Auto Purchase card, Capital One will try to pay for your purchase in full at the time of purchase. This means that if you do not have enough available credit on your account to cover the purchase in full, then It will restrict your account, and any other transactions made with a Capital One card may be declined.

PLEASE NOTE: Restricted accounts are often resolved quickly. However, some restrictions may take several days to resolve.

If you have had your account restricted, it is important that you call the phone number on the back of your credit card and talk to one of their representatives.

If You Are Unable To Get In Contact With Capital One, Then The Following Steps May Help:

Lower Your Credit Limit:

You can lower your credit card's available credit by calling Capital One and asking them to decrease it. This will reduce the amount that It tries to pay for purchases on your account, which means it reduces the chance of fraud.

Enable Text Or Email Alerts:

You can contact Capital One to set up text or email alerts that will warn you when certain activities are occurring with your account. This includes when your available credit is running low, which can prevent It from restricting your account due to it being over the limit.

Set A Monthly Spending Maximum:

If you spend most of your money on your card at once and do not carry a balance, then you can contact Capital One to set up a monthly spending maximum.

This allows you to make as many purchases as you like (even though it may cause your credit limit and available credit to be reached) but prevents the possibility of fraud on your account due to having insufficient funds available.

Make Payments Or Withdrawals:

It is important that you understand Capital One's policies before making any payments or withdrawals. This includes withdrawing money from an ATM, as this can lead to suspicious activity on your account and may cause restriction.

Limit The Number Of Cards Linked To Your Account:

If you have multiple Capital One credit cards, then it is important that you limit the number of cards linked to your account. This allows you to easily control which accounts are active, and it is a way to prevent any suspicious activity on your account.

Monitor Your Credit Report:

You can monitor your credit score from free services such as Credit Karma or Credit Sesame, as this is a good way to ensure that Capital One is not reporting anything suspicious to any of the major credit bureaus.

How To Contact Customer Support Of Capital One?

The first thing to do is call the Capital One customer service line. You can do this by dialing 1-877-383-4802. The customer service representative will want to know your name, the phone number you used in opening the account, and why It has restricted your account.

Make sure that when you call in that, you are calm and collected; if they believe that you're irate and/or stressed about the situation, they can refuse to speak with you, and you will never get your questions answered.

Once you talk to a representative, they should be able to give you information on what caused your account to become restricted. If, for instance, it was due to late payments, then the rep will likely tell you that if you make 6 consecutive scheduled payments, your account will become un-restricted.

How To Contact Customer Support Of Capital One

On the other hand, if you've reached your credit limit or other reasons led to your account being restricted, they may tell you to wait until the restriction is lifted automatically after a set amount of time.

Note: There are cases in which Capital One representatives will ask for copies of your driver's license, utility bills, and/or other documents before they will un-restrict your account. If this is the case, do not hesitate to send these as soon as you can, as it will help them process your request asap.

Once you've confirmed what caused the issue with your account and how long it'll take for the restriction to lift, call Capital One one more time.

This time, ask the representative what you can do in your current situation. They may tell you to apply for a loan so that you can pay off other accounts or buy something expensive (e.g., a car). If this is not possible, they may ask for collateral so that they can un-restrict your account.

If this is not an option either, they may suggest that you open a new account with them. While opening up a new Capital One card will result in lost time, and it's definitely worth the hassle if it means getting rid of your restrictions.

Note:

Keep in mind that if you are transferring balances to another credit card company while your Capital One account is restricted that this can harm your credit score.

To ensure that transferring balances to another credit card company will not affect your credit, you should make sure that the new account has been open for at least 6 months before attempting a balance transfer from Capital One.

Representatives are generally very accommodating with regard to your situation, you should not hesitate to continue calling if they give you an answer that is unsatisfactory.

Representatives refuse to un-restrict your account when it is possible and reasonable for them to do so, it may be necessary to tell them that you'll consider contacting the Consumer Financial Protection Bureau (CFPB) and/or the Better Business Bureau.

Is Capital One Safe To Use?

Capital One is safe to use, but you should always be aware that you are giving a financial institution your credit card information.

This can lead to identity theft if the website where you are entering your card information has been compromised. It is also wise to monitor any suspicious activity on your account.

Is Capital One Safe To Use

If Capital One does ever restrict your account for any reason, then you should contact them immediately to try and resolve the issue.

No one wants to have their account restricted by Capital One, but it does happen on occasion. Restricted accounts can be frustrating because they prevent you from being able to make any purchases on your card for a period of time while Capital One investigates things further.

Conclusion

While you shouldn't expect Capital One to restrict your account, it's important to be aware of what can cause an account to become restricted. For this reason, it is best to check up on your account regularly (e.g., quarterly) by accessing your online dashboard or checking your credit score.

Note: If you want more information on how to fix your restricted Capital One account, contact them, and they will get back to you within 72 hours.