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Established Contributor
YahComb
Posts: 589
Registered: ‎03-10-2012

Closed my Cap1 Secured today

It had a 1200 limit with 1050 deposited.Too bad they can't put it right back into a cap1 checking account like BOA does if you have checking with them, have to wait for the check to come, and i've read a few nightmare stories of people having to keep calling because 2 months later and they haven't gotten their money back, so i hope i don't have to deal with that.

I know they won't be as speedy as BOA was (my deposit refund got here 8 days after they graduated me) but i hope i can get it before i go off to New York for a few days next month!

 

Undecided if i am going to keep the Paypal card. It's no fee and it's got growth potential being GECRB, they were first to give me a limit of 2K+ but it is now my least useful card and i'm not sure im up to the task of managing more than 5 or 6 cards

EQ-728(03/31/14) TU-761(03/19/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 7.5K | Disc It 9K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 2.67yr AAOA: 21.8 mo
Established Contributor
namvet
Posts: 866
Registered: ‎09-22-2011

Re: Closed my Cap1 Secured today

Looks like Cap One did it's job for you.  Good move to close the card and get your money back.  I would keep the pay pal card since it's not costing you any money.

Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: Closed my Cap1 Secured today


YahComb wrote:

It had a 1200 limit with 1050 deposited.Too bad they can't put it right back into a cap1 checking account like BOA does if you have checking with them, have to wait for the check to come, and i've read a few nightmare stories of people having to keep calling because 2 months later and they haven't gotten their money back, so i hope i don't have to deal with that.

I know they won't be as speedy as BOA was (my deposit refund got here 8 days after they graduated me) but i hope i can get it before i go off to New York for a few days next month!

 

Undecided if i am going to keep the Paypal card. It's no fee and it's got growth potential being GECRB, they were first to give me a limit of 2K+ but it is now my least useful card and i'm not sure im up to the task of managing more than 5 or 6 cards


I had to call and ask after the 60 days was up.   They are very slow with it.   

 

Better plan is to leave a large balance on it when you close it as they paid that off with the deposit in a few weeks.

 

Established Contributor
YahComb
Posts: 589
Registered: ‎03-10-2012

Re: Closed my Cap1 Secured today

well, thats not very encouraging. i aleady paid off the 5.30 that was on it before i called to close the account.

EQ-728(03/31/14) TU-761(03/19/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 7.5K | Disc It 9K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 2.67yr AAOA: 21.8 mo
Regular Contributor
tburns
Posts: 151
Registered: ‎11-04-2010

Re: Closed my Cap1 Secured today

Ya, Cap1 can be really slow when closing a secured card.

 

I closed mine last November, on the phone they said it would be refunded 'within' 60 days. After 60 days and no refund I called back and they were "oh, you want a check ok" and it was 2 weeks after that when it arrived.

 

Established Contributor
YahComb
Posts: 589
Registered: ‎03-10-2012

Re: Closed my Cap1 Secured today

Well guess i'm just lucky. Got my check for 1049.00 back today. Thought it would take at least a couple weeks.

 

Capital one being speedy getting someone their money back, surprise of the century?

EQ-728(03/31/14) TU-761(03/19/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 7.5K | Disc It 9K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 2.67yr AAOA: 21.8 mo
Valued Contributor
jsucool76
Posts: 2,768
Registered: ‎12-11-2011

Re: Closed my Cap1 Secured today


YahComb wrote:

Well guess i'm just lucky. Got my check for 1049.00 back today. Thought it would take at least a couple weeks.

 

Capital one being speedy getting someone their money back, surprise of the century?


It's because they're hoping you'll apply for an unsecured card of theirs now :smileyvery-happy: 

Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 1500CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL
Established Contributor
YahComb
Posts: 589
Registered: ‎03-10-2012

Re: Closed my Cap1 Secured today

LOL i don't even exist to capital one right now. I'm in that grey area for them, i don't need their toy limit starter cards and my credit is too young for their "excellent" no fee stuff. I don't think i've had any offers on their pre-approval since they stopped taking apps for the no-hassle rewards card.

EQ-728(03/31/14) TU-761(03/19/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 7.5K | Disc It 9K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 2.67yr AAOA: 21.8 mo
Valued Contributor
jsucool76
Posts: 2,768
Registered: ‎12-11-2011

Re: Closed my Cap1 Secured today


YahComb wrote:

LOL i don't even exist to capital one right now. I'm in that grey area for them, i don't need their toy limit starter cards and my credit is too young for their "excellent" no fee stuff. I don't think i've had any offers on their pre-approval since they stopped taking apps for the no-hassle rewards card.


You never know. They denied me for their secured card  (Crazy, IKR?), then approved me with 3k for a plat no AF which they PCd to cash rewards (which ended up being my first card) I don't think they have any rhyme or reason to their approvals. 

Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 1500CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL
Regular Contributor
doc101
Posts: 177
Registered: ‎11-27-2011

Re: Closed my Cap1 Secured today

If I'm approved for a BoA, i'm closing my account with Cap1 as well. Have had the card for over a year, no late payments and can't even get a CLI.......what's  the use in keeping the card if I can't advance?


Starting Score:Equifax 543
Current Score:EQ655 TU 625 EXP665 updated 12/14/2013
Goal Score: 650


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