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Contributor
Posts: 96
Registered: ‎02-01-2009
0

Cancelling Applied Bank .... Help or Insight?

Hey Guys,

 

Got a Secured Applied Bank card about 6 months ago.  Transferred $1,000 to them for a Secured $1,000 credit line.

 

Now that my credit is considerably better, and I have better cards, I really have no need for the card.  My question revolves around cancelling and the refund of the $1,000.

 

I have just read HORROR story and HORROR story about people trying to cancel.  Stating, you can't just call in to cancel, you have to write a letter and send it off to some PO Box and that it can take upwards of 30 days to get your refund.  Yet, I have yet to see a single person actually GET a refund for their initial deposit.

 

This has me worried.  Anyone go through the Cancellation and Refund process with Applied bank?  If so, can you share you thoughts and the eventual outcome?

 

Thanks


2/2/09 (Newbie): EQ: 636 -- EX: 609 -- TU: 635
8/9/10 (Current): EQ: 724 -- EX: 728 (FAKO) -- TU: 717
Frequent Contributor
Posts: 405
Registered: ‎07-31-2010
0

Re: Cancelling Applied Bank .... Help or Insight?

I too have an Applied Bank Secured Card. I got mine on 1/1/10. I've had a positive experience with them maybe b/c I don't ask them for anything. I can't see a situation where they won't give you a refund. Unless you have a balance, I don't see a problem. If they say you need to write a letter and wait 30 days, just do it. Its there policy. Its what we agreed to when we signed up for the card. But I need to stress that you don't need to worry about not getting a refund. They MUST give you a refund by law. Hope this helped and please keep us posted.  

CARDS.jpg

Contributor
Posts: 96
Registered: ‎02-01-2009
0

Re: Cancelling Applied Bank .... Help or Insight?

Thanks Lass ...

 

Just read some horror stories.

 

I have never carried a balance on the Applied Bank Card, I just pay the monthly $9.95 fee and that's about it. 

 

Will keep you posted!  I will call tomorrow and let you know how it goes!


2/2/09 (Newbie): EQ: 636 -- EX: 609 -- TU: 635
8/9/10 (Current): EQ: 724 -- EX: 728 (FAKO) -- TU: 717
Regular Contributor
Posts: 213
Registered: ‎08-15-2012
0

Re: Canceling Applied Bank .... Help or Insight?

I wrote them on the 8th of June to cancel my card and as of June 28 had not received my refund. I called them and was told my check was mailed on the 12th. They are going to "investigate it" and I need to call back next week. Has our society dumbed down to the point that we believe the dog ate my homework crap!

Frequent Contributor
Posts: 299
Registered: ‎03-08-2011
0

Re: Cancelling Applied Bank .... Help or Insight?


PureCaSH wrote:

Hey Guys,

 

Got a Secured Applied Bank card about 6 months ago.  Transferred $1,000 to them for a Secured $1,000 credit line.

 

Now that my credit is considerably better, and I have better cards, I really have no need for the card.  My question revolves around cancelling and the refund of the $1,000.

 

I have just read HORROR story and HORROR story about people trying to cancel.  Stating, you can't just call in to cancel, you have to write a letter and send it off to some PO Box and that it can take upwards of 30 days to get your refund.  Yet, I have yet to see a single person actually GET a refund for their initial deposit.

 

This has me worried.  Anyone go through the Cancellation and Refund process with Applied bank?  If so, can you share you thoughts and the eventual outcome?

 

Thanks


I had a $200 ecured card with Applied Bank, when I first started on my credit journey. When it was time to close the card, I made sure my most recent payment had cleared, then called them up and cancelled. It took a few weeks, but they did send me a check for the deposit.

 

This was a few years ago, so YMMV.

TU98 751, EQ 766, EX 766 (Lender)

If at first you don't succeed; Garden for 6 months, then try again.

Work the system. Don't let the system work you.
Frequent Contributor
Posts: 309
Registered: ‎09-06-2011
0

Re: Cancelling Applied Bank .... Help or Insight?

I cancelled my Applied Bank last August. It was a breeze and since I read horror stories I used my card to about $460.00 and called to cancel and was told that my available credit of roughly $40 bucks will be sent via check in about 3-4 weeks and I just had to request to have the card cancelled either via fax or regular mail and I did and account was cancelled. They sent me a notice of cancellation within like 7 days and a check for the remaining amount within like 5 weeks. (My Security Deposit was $500), but like is said based on horror stories I used most of it to pay my cellphone, cable, power bill, etc..put gas and stuff like that...ultimately came out to the same thing!!!

NFCU Visa Sig $30k / Fidelity Amex $25k/ Amex Blue Cash $8.5k / Chase Freedom $14.5k / Citi Best Buy MC $3K / Citi Double Cash $3k / Barclay Rewards MC $2.95k / BOA - BBR $2.5k / SY Lowes $8.5k / SY Amazon $5k / Target RedCard - $300 / NO CAPONE IN MY WALLET!!
Regular Contributor
Posts: 213
Registered: ‎08-15-2012
0

Re: Canceling Applied Bank .... Help or Insight?

I called Applied back this morning July 2 and after many minutes on hold the rep informed me that a stop payment on the old check would be place and a new one mailed. I was advised to call back next week if I wanted to know when the new check was mailed.  The same day I canceled this card I also canceled my Cap1 secured card. Three days later I had my deposit back. Applied imo is the bottom of the barrel. Customer service is cranky and their online banking is on par with csr.

Regular Contributor
Posts: 213
Registered: ‎08-15-2012
0

Re: Canceling Applied Bank .... Help or Insight?

My wife called yesterday to cancel and have her deposit debited back into her checking account. She was told they can't do that and it would be mailed to her. This is the complete opposite of what I was told. She was hung up on twice before she finally got a good rep and her card canceled.

Regular Contributor
Posts: 213
Registered: ‎08-15-2012
0

Re: Canceling Applied Bank .... Help or Insight?

Yesterday my wife's checking account was debited the refund amount. I called and was told that my refund was debited to my Wells Fargo account ( I closed it on the 10th of June )  and WF's acknowledged receipt of funds. This morning I went to WF and there is no record of such transaction. We ( my banker and I ) called Applied and was told that they had sent me a check and I cashed it on the 27th of June. Didn't happen. I then asked Applied to fax my banker a copy of the canceled check and was told I'd have to request that in writing via fax. So I faxed them and am now waiting for an e-mail from my banker that they have received a fax of the canceled check. What a bleeping mess.

Regular Contributor
Posts: 213
Registered: ‎08-15-2012
0

Re: Canceling Applied Bank .... Help or Insight?

Talked to a great guy today ( Mr. Fletcher) at Applied bank and it turns out that my check was sent, stolen and cashed at (Bof A ) a bank that I do not have an account with.

It is being investigated by both B of A and Applied Bank. In the mean time my funds are being electronaclly transfed to my present checking account.

 

Everything I've posted to this point has not been favorable to Applied Bank. I apoligize to them. I dislike a thief and hope to see the person that stole my money in jail.

 

 

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