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Regular Contributor
keikdasneak
Posts: 152
Registered: ‎03-29-2009

Wow you have to be kidding me right? Applied Bank Card.

I have a secured Applied Bank card which i have had for two years now. When i first opened the account i placed $200 dollars in the account to have a limit of $200. I have than added $1400 dollars more to my Secured card to have a credit limit of $1600. My Balance now is $1500 with a credit limit of $1600.00. I now want to either close my card or have a lower limit back to around 200 or 500 dollars due to there high interest rate and fee's. I called them and stated what i wanted done, which was to lower my credit limit. They told me i can't and that i have to pay the whole balance if i wanted to close my card. BOOM I am like hold on now, THIS IS NOT A UNSECURED CARD, It is a SECURED CARD, MY MONEY NOT THERE'S So why would i do such a thing?  I Had to basically teach them what a secured card is, lol they lady than stated she could not lower my card limit. Should i close it?

Thanks

Frequent Contributor
elaine829
Posts: 273
Registered: ‎10-09-2007

Re: Wow you have to be kidding me right? Applied Bank Card.

Even though you have a secure credit card which you put money on, if IM reading right you have charge 1500 dollars on it. So even though its your money you have charge up 1500 dollars so you would have to pay the balance before closing the card or pay it down to lower credit limit. I might be wrong but let someone else give their opinions.

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

Re: Wow you have to be kidding me right? Applied Bank Card.

You should probably close it due to high fees.  Time to move on to a better card.    

 

You do have to pay off the balance first, and then get your deposit back later.

Regular Contributor
keikdasneak
Posts: 152
Registered: ‎03-29-2009

Re: Wow you have to be kidding me right? Applied Bank Card.

Wow i never knew this at all, So they make you basically give them money so that they can resend it to you later? LOL

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

Re: Wow you have to be kidding me right? Applied Bank Card.

 


keikdasneak wrote:

Wow i never knew this at all, So they make you basically give them money so that they can resend it to you later? LOL


It takes several weeks as well,    They need to sure all pending charges, slow charges. automatic charges go through before they full close the account.    

 

Established Contributor
gbishere
Posts: 736
Registered: ‎07-07-2010

Re: Wow you have to be kidding me right? Applied Bank Card.

[ Edited ]

This a rebuilding card. If your rebuilding it is a pretty good idea to keep your util down.

 

I have this card. I don't expect much from them. I have not made my limit any higher than 750 because I just don't trust them.

 

I expect horrible service from them....

 

My util is always 1-3% on this card. I will close it once I get a credit card I am happy with. Right now its my oldest card I will have this card for possible a few more years. 

 

They are earning 9.99-12 % interests on your balance. Of course they wouldn't want to help you pay less interests. It is a very sub-prime card

 

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
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Senior Contributor
score_building
Posts: 3,509
Registered: ‎01-10-2008

Re: Wow you have to be kidding me right? Applied Bank Card.

 


gbishere wrote:

This a rebuilding card. If your rebuilding it is a pretty good idea to keep your util down.

 

I have this card. I don't expect much from them. I have not made my limit any higher than 750 because I just don't trust them.

 

I expect horrible service from them....

 

My util is always 1-3% on this card. I will close it once I get a credit card I am happy with. Right now its my oldest card I will have this card for possible a few more years. 

 

They are earning 9.99-12 % interests on your balance. Of course they wouldn't want to help you pay less interests. It is a very sub-prime card

 


This.

 

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
New Contributor
swins24
Posts: 67
Registered: ‎09-21-2009

Re: Wow you have to be kidding me right? Applied Bank Card.

I closed my applied bank card out in june. i didnt not have to pay the balance up front  the guy ask me if i would like to apply my security deposit to the balnce, i said yes that would be fine. Then i was refunded the diffrence. Within two weeks everything was closed and i was refunded the balance it was a good experince for me. I was kinda nervous because all the bad things i had read about applied. But everything actualy worked out great for me.

Established Contributor
gbishere
Posts: 736
Registered: ‎07-07-2010

Re: Wow you have to be kidding me right? Applied Bank Card.

How did you get your money back? A check in the mail or what ? How long did it take?

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
New Contributor
swins24
Posts: 67
Registered: ‎09-21-2009

Re: Wow you have to be kidding me right? Applied Bank Card.

The account was closed immediately and the account I used to fund the secured card was credited the difference. They say it could take up to 30 days but for me it was only two weeks when the money hit my account. If you made your deposit by other means like a money order You more than likely will have to Waite for a check in the mail.


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