topic Re: Credit One Closed in Credit Cards

Credit One Closed

nicholasyud — Thu, 06 Dec 2012 03:26:09 GMT

I really looking forward to closed this specific account in the near future. What the safe way to closed it ???

I heard a lot of sad story about their company. Kinda freak me out a lil bit.

Wanna know some safe way to closed them without let them trash my credit again.

Thank guys.

Re: Credit One Closed

daybreakgonesXe — Thu, 06 Dec 2012 03:30:19 GMT

@nicholasyud wrote:
I really looking forward to closed this specific account in the near future. What the safe way to closed it ???
I heard a lot of sad story about their company. Kinda freak me out a lil bit.
Wanna know some safe way to closed them without let them trash my credit again.
Thank guys.

Make sure the account is PIF with a $0 balance and that you are far away from any monthly/annual fees upon the day you close. Don't need them to smack you with a monthly fee (if your card has one) the day that you attempt to close them out!

Re: Credit One Closed

Involus — Thu, 06 Dec 2012 03:29:19 GMT

I woulda assume it would be the same as any other card - make sure the balance is 0 and call them and say you want to cancel the card. Never been with credit one so I don't know if they are any different, but I assume not.

Re: Credit One Closed

Mustangfrank — Thu, 06 Dec 2012 03:46:03 GMT

@nicholasyud wrote:
I really looking forward to closed this specific account in the near future. What the safe way to closed it ???
I heard a lot of sad story about their company. Kinda freak me out a lil bit.
Wanna know some safe way to closed them without let them trash my credit again.
Thank guys.

I just closed out my secured CapitalOne card two days ago and it went real smooth.

The woman I spoke with was really nice and she said I could expect my $2,000 secured deposit in the mail in 7 to 10 days and that

if I did not get it after 10 days to call them.

I was PIF and the account closed immediately.

They did not offer me a non secured card or try to upsell me or anything just thanked me for my business and said they were sorry to see me go.

I never received one CLi in ten months with Cap1 but it served its purpose now I have all Prime cards and 800+ FICOS

Cap1 I hardly knew Ya.

Re: Credit One Closed

nicholasyud — Thu, 06 Dec 2012 04:00:05 GMT

I havent used the card for the last 3 months. open in June by mistake for 3 credit card trade line for possible Fico score but regret it. When the best time to closed them ????? AF kick in sometime in may 13. Shoud i call them and record the conversation ??? Shoud i ask them to provide me closing letter ???

Re: Credit One Closed

Involus — Thu, 06 Dec 2012 04:03:00 GMT

They shouldn't give you any problem if you are 0 balance on the account and are in good standing. They should send you something saying your account has been closed but again I'm unsure as I've never closed a credit card yet.

I wouldn't suggest recording the call as there is possible legal ramifications of recording someone without their consent.

Re: Credit One Closed

Imua — Thu, 06 Dec 2012 06:02:44 GMT

@CotySinz wrote:
They shouldn't give you any problem if you are 0 balance on the account and are in good standing. They should send you something saying your account has been closed but again I'm unsure as I've never closed a credit card yet.

I wouldn't suggest recording the call as there is possible legal ramifications of recording someone without their consent.

i was just gonna post the same thing about recording the call

if if the OP has reservations about the acct being closed after his phone call, he might want to follow the call with a letter stating "this letter is to confirm my telephone call of xx/xx/xx (date), when i spoke with yyy (name of rep) to close my acct ####".

Re: Credit One Closed

bluewillow — Thu, 06 Dec 2012 13:51:27 GMT

I closed Credit One about 6 months ago. As others have stated make sure your balance is zero. No biggie everything went well when I closed them.

Re: Credit One Closed

AF_23 — Thu, 06 Dec 2012 14:09:22 GMT

Take a peek at your credit report next month. You'll know for sure if its such a scare

Re: Credit One Closed

Anonymous — Thu, 06 Dec 2012 19:50:30 GMT

Whenever I close a card, I send a short letter with: my name, credit account # and just say I'd like to close this card. I send it regular mail with return receipt requested. Somebody has to sign for that and they send the card back to you in the mail, so you have record or, you can send certified mail too. I retain a copy of the letter, and attach the signed returned receipt card when it comes back in the mail. Also, I make sure the card is already paid off; although, one time I did send a certified check with the letter to pay off an account, and I had no problems. All the accounts were closed as requested within about 10-15 days that I send the letters. I just like to have records of stuff, versus just calling on the phone.

Re: Credit One Closed

maiden_girl — Thu, 06 Dec 2012 19:55:14 GMT

@Anonymous wrote:
Whenever I close a card, I send a short letter with: my name, credit account # and just say I'd like to close this card. I send it regular mail with return receipt requested. Somebody has to sign for that and they send the card back to you in the mail, so you have record or, you can send certified mail too. I retain a copy of the letter, and attach the signed returned receipt card when it comes back in the mail. Also, I make sure the card is already paid off; although, one time I did send a certified check with the letter to pay off an account, and I had no problems. All the accounts were closed as requested within about 10-15 days that I send the letters. I just like to have records of stuff, versus just calling on the phone.

What is the purpose of doing this? The company can send you a letter confirming the account was closed if you've called them to close it.

Re: Credit One Closed

Anonymous — Thu, 06 Dec 2012 20:46:26 GMT

@maiden_girl wrote:
@Anonymous wrote:
Whenever I close a card, I send a short letter with: my name, credit account # and just say I'd like to close this card. I send it regular mail with return receipt requested. Somebody has to sign for that and they send the card back to you in the mail, so you have record or, you can send certified mail too. I retain a copy of the letter, and attach the signed returned receipt card when it comes back in the mail. Also, I make sure the card is already paid off; although, one time I did send a certified check with the letter to pay off an account, and I had no problems. All the accounts were closed as requested within about 10-15 days that I send the letters. I just like to have records of stuff, versus just calling on the phone.
What is the purpose of doing this? The company can send you a letter confirming the account was closed if you've called them to close it.

That's just the way I've done it in the past. I haven't closed anything in a long time. Whatever is easiest and provides peace of mind to the individual is what they should do. Definitely not saying the way I've done in the past is the best.

Re: Credit One Closed

llecs — Thu, 06 Dec 2012 21:48:29 GMT

OP, I (well, we) closed Credit One x2 for both DW and I. It went seamlessly well and I didn't have any issues. To be safe, we PIF early into the billing cycle. Once we confirmed the balance was $0 online, then we called. They had the EXACT same script both times and it was either this CC or another we got transferred to a retention department. In any case, we were offered a no-fee alternative for 6 months IIRC. We both countered with no fees forever, a lowered APR, and a CLI. They said no way and cancelled on us. Painless and easy. I hardly shed a tear. The following statement came and there were no charges or fees and the balance remained at $0.

As an FYI, after you close the CC, you can still log into your account and see the history and so forth. I found it interesting in my and DW's case that the available balance still showed months after TL closure. It kinda spooked us, but the report reflected a closed TL.

Re: Credit One Closed

shakalaka — Thu, 06 Dec 2012 21:54:07 GMT

I closed mine over the fon. PIF first and once the payment is applied to your account call them. I called back couple of days later to request the immediate payout of my deposit and had it 3 days later.

If you have a balance on the card and close it, the deposit will be applied against the balance and the payout can take up to 90 days. So be sure to PIF before cancelling the card.

Re: Credit One Closed

nicholasyud — Sat, 08 Dec 2012 03:03:17 GMT

@llecs wrote:
OP, I (well, we) closed Credit One x2 for both DW and I. It went seamlessly well and I didn't have any issues. To be safe, we PIF early into the billing cycle. Once we confirmed the balance was $0 online, then we called. They had the EXACT same script both times and it was either this CC or another we got transferred to a retention department. In any case, we were offered a no-fee alternative for 6 months IIRC. We both countered with no fees forever, a lowered APR, and a CLI. They said no way and cancelled on us. Painless and easy. I hardly shed a tear. The following statement came and there were no charges or fees and the balance remained at $0.

As an FYI, after you close the CC, you can still log into your account and see the history and so forth. I found it interesting in my and DW's case that the available balance still showed months after TL closure. It kinda spooked us, but the report reflected a closed TL.

I sign up in June 2011. Already paid membership. Interesting thing i found that they dont report to credit bureau if my account show no balance.

Should i used it once and then decide to closed it somewhere in MARch or June before the AF kick in.

I start rebuild my credit last year and that's one of the card come with insane fees/ . ;-(

Should i closed it now ???

Re: Credit One Closed

llecs — Sat, 08 Dec 2012 03:21:07 GMT

@nicholasyud wrote:
@llecs wrote:
OP, I (well, we) closed Credit One x2 for both DW and I. It went seamlessly well and I didn't have any issues. To be safe, we PIF early into the billing cycle. Once we confirmed the balance was $0 online, then we called. They had the EXACT same script both times and it was either this CC or another we got transferred to a retention department. In any case, we were offered a no-fee alternative for 6 months IIRC. We both countered with no fees forever, a lowered APR, and a CLI. They said no way and cancelled on us. Painless and easy. I hardly shed a tear. The following statement came and there were no charges or fees and the balance remained at $0.

As an FYI, after you close the CC, you can still log into your account and see the history and so forth. I found it interesting in my and DW's case that the available balance still showed months after TL closure. It kinda spooked us, but the report reflected a closed TL.
I sign up in June 2011. Already paid membership. Interesting thing i found that they dont report to credit bureau if my account show no balance.
Should i used it once and then decide to closed it somewhere in MARch or June before the AF kick in.
I start rebuild my credit last year and that's one of the card come with insane fees/ . ;-(
Should i closed it now ???

DW and I had it before the CC Reform law was enacted. We were charged about $8-$10/mo IIRC, plus the monthly fees just to pay it online. I was eager to close both. It helped when starting out but the CC had to go. IMO, if you PIF and can get it to report that, then I'd close it ASAP.

Re: Credit One Closed

nicholasyud — Sat, 08 Dec 2012 03:46:45 GMT

i didnt used it for the last 2 months and they dont even report like OK status on those 2 months recently. I might used like 1 dollars or 2 then make them report.

Is that really worth it to do that ??