topic Re: Closing Secured CAP1 - Deposit Return? in Credit Cards

Closing Secured CAP1 - Deposit Return?

Mustangfrank — Wed, 28 Nov 2012 00:11:56 GMT

My CAP1 has served its purpose and I would like to have my $2K security deposit returned

as quickly as possible without jumping through too many hoops.

Any suggestions for a timely return ?

Is it acceptable to just run the balance up to the limit and then close the account or is that asking for trouble ?

AAoA is not an issue.

Re: Closing Secured CAP1 - Deposit Return?

toppers555 — Wed, 28 Nov 2012 00:36:38 GMT

you will have to call and demand a mgr. Otherwise they will give you the two balance cycle bs. Mgr was suppose to direct deposit my 3k back into the account I had on file , which they didn't ,and send a check a week later.

Re: Closing Secured CAP1 - Deposit Return?

Anonymous — Wed, 28 Nov 2012 01:00:03 GMT

I closed my Cap1 secured via the chat with a rep. It took 5 minutes to close the account ,10-12 days for the deposit check. No pain at all.

Re: Closing Secured CAP1 - Deposit Return?

Anonymous — Wed, 28 Nov 2012 02:48:20 GMT

IT took something like 10 days from the day i called to the day i received my check when i closed my cap1 secured.

Re: Closing Secured CAP1 - Deposit Return?

Mustangfrank — Wed, 28 Nov 2012 02:54:08 GMT

@Anonymous wrote:
IT took something like 10 days from the day i called to the day i received my check when i closed my cap1 secured.

Well that is encouraging.

I have read so many horror stories about "Peggy"

and not getting a check for months.

Re: Closing Secured CAP1 - Deposit Return?

Anonymous — Wed, 28 Nov 2012 03:00:39 GMT

i had heard all the stories too. maybe i just got lucky lol

Re: Closing Secured CAP1 - Deposit Return?

trumpet-205 — Wed, 28 Nov 2012 03:34:37 GMT

@Mustangfrank wrote:

Is it acceptable to just run the balance up to the limit and then close the account or is that asking for trouble ?

Never try to close an account with balance.

PIF, close the account, and wait patiently for the deposit check.

Re: Closing Secured CAP1 - Deposit Return?

Shogun — Wed, 28 Nov 2012 03:41:20 GMT

+10000 Always zero it out first.

Re: Closing Secured CAP1 - Deposit Return?

Mustangfrank — Wed, 28 Nov 2012 03:44:09 GMT

@Shogun wrote:
+10000 Always zero it out first.

OK,

Thanks I will do just that.

I will post how long it takes to receive the check.

Re: Closing Secured CAP1 - Deposit Return?

Anonymous — Wed, 28 Nov 2012 03:47:03 GMT

5 days for me...I had a zero balance before I closed

Re: Closing Secured CAP1 - Deposit Return?

Mustangfrank — Wed, 28 Nov 2012 03:51:32 GMT

@Anonymous wrote:
5 days for me...I had a zero balance before I closed

Wow that was really fast.

Was it a significant amount ?

Just curious if they pay out smaller amounts quickly as opposed to taking their time with significant amounts.

Re: Closing Secured CAP1 - Deposit Return?

Anonymous — Wed, 28 Nov 2012 06:50:57 GMT

$400

Re: Closing Secured CAP1 - Deposit Return?

ssdc1980 — Wed, 28 Nov 2012 12:56:04 GMT

I called CAP1 to inquire about whether I had to have a zero balance before closing a secured card. The computer asked what I was calling in regards too so it may better direct my call, when I responded with closing my account it then abruptly responded with "okay your account is now closed"....well played computer!!!

Because I had a remaining balance on the card it took aprox 2 months before I received the check for the difference.