Credit Cards

[llecs]

I just closed a partially secured Orchard Bank. It was opened with $500 in exchange for a $600 CL and came as a counter-offer to a HSBC request a couple years ago.

I cancelled it today and the CSR said that he was going to mail out $600. I only put in $500 and I pointed that out, twice. Both times he retorted that Orchard owes me $600.

Has this happened to anyone else?

I hope he's mistaken. Technically (and I still have all the org. docs) they owe me $500 and interest (something like .24% per year...not a typo). At best maybe I'll get $501. BTW, he said the money would come by 30 days.

[Uborrow-Upay]

In keeping with the somber moment...maybe it's a death benefit?

In any event, if they send it...keep it.

[creditwherecreditisdue]

I suspect they are so used to seeing fully secured accounts it was just an error. It will be interesting to see if the check is really in hand by 30 days from today. Let us know when it really does show up.

[llecs]

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Uborrow-Upay wrote:

In keeping with the somber moment...maybe it's a death benefit?

In any event, if they send it...keep it.

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Is it a one-time benefit, or are there monthly residuals? I hear rumors that the deductible is at 100%.

If I did get $600, I wouldn't keep it. It'll be my luck they reopen the TL, CO the account. And send me to a CA.

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creditwherecreditisdue wrote:
I suspect they are so used to seeing fully secured accounts it was just an error. It will be interesting to see if the check is really in hand by 30 days from today. Let us know when it really does show up.

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I've read other posts in the past and won't be surprised if it came post-45 days.

[creditwherecreditisdue]

The check is in the mail. (hehehehe) I wonder how many days float they will glom on this deal.

If they sent me any extra money I would keep it for sure. But I might cash the check at a check cashing place so they wouldn't have my bank account number. 

[llecs]

Well, for the record, I received a check today from "Intermountain Community Bank" which is the company that accepted my deposit for OB. It was for $502.45 and included the org. $500 with I'm guessing the balance of $2.45 for interest. It was dated 7/29, about a day or so after I cancelled OB. That was fast. All I need is the $4 or so that I overpaid before cancelling.

BTW, Credit One Bank is scheduled to pass away on Saturday, assuming the statement cuts by then. Due to the love-hate relationship and fees, there will be no Memoriam posting and no services will be held. If any of you feel saddened at the impending death of Credit One, then feel free to seek counselling via myFICO.com.

[creditwherecreditisdue]

Nice! Fairly impressive service on the way out. Probably some law pushing on them to return that deposit promptly. I wonder how fast the $4 will be tendered...

[haulingthescoreup]

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llecs wrote:

...BTW, Credit One Bank is scheduled to pass away on Saturday, assuming the statement cuts by then. Due to the love-hate relationship and fees, there will be no Memoriam posting and no services will be held. If any of you feel saddened at the impending death of Credit One, then feel free to seek counselling via myFICO.com.

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I'm thinking a backyard campfire with s'mores!

[Uborrow-Upay]

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llecs wrote:

BTW, Credit One Bank is scheduled to pass away on Saturday, assuming the statement cuts by then. Due to the love-hate relationship and fees, there will be no Memoriam posting and no services will be held. If any of you feel saddened at the impending death of Credit One, then feel free to seek counselling via myFICO.com.

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No Memoriam posting?  Darn it.  I was so looking forward to seeing Credit One's driver's license photo in the obit!

[plasticman]

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llecs wrote:

Well, for the record, I received a check today from "Intermountain Community Bank" which is the company that accepted my deposit for OB. It was for $502.45 and included the org. $500 with I'm guessing the balance of $2.45 for interest. It was dated 7/29, about a day or so after I cancelled OB. That was fast. All I need is the $4 or so that I overpaid before cancelling.

BTW, Credit One Bank is scheduled to pass away on Saturday, assuming the statement cuts by then. Due to the love-hate relationship and fees, there will be no Memoriam posting and no services will be held. If any of you feel saddened at the impending death of Credit One, then feel free to seek counselling via myFICO.com.

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I understand, however, can you post us a picture of where the dirt nap is in case a member might want to choose to pay their respects to a member of your financial family in their own way?

Message Edited by plasticman on 08-06-2009 10:38 PM