Capital One Secured refund?

[Creditplz]

So I talked to capital one, got the account closed and GW to EO took off my late payments. My account shows -400 on current balance?. Does anyone know how long till this check gets sent to me? Or how long it took for you guys to receive after closing it? I plan on applying for the QS when the 0 balance reports and the lates are removed from all three CRA

[Anonymous]

If you don't want to wait - you can see if you are pre-qualified for any of their cards on their website.  I also have their secured card and want to close the account but waiting until I close on a home later on this year before doing so.  This is my oldest credit line so I can't close it right now. 

Please keep us all posted!! 

[Officer737]

2 billing statements before they issue the refund if I read their information correctly. 

[KSK1912]

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@Officer737 wrote:

2 billing statements before they issue the refund if I read their information correctly. 

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You are right. I am about to close mine too and have a decent amount in deposit, $3K, and i asked them and they told me it would be 2 billing cycles, which i think is a little crazy.

[dragontears]

I closed my cap1 secured card last October and was told that it would take 2 months to get the deposit; however, I got the check from them about a week after I closed it. I should add that I had not used that card in a year before closing it so that may have effected how soon I got the deposit back.

[Officer737]

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@KSK1912 wrote:

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@Officer737 wrote:

2 billing statements before they issue the refund if I read their information correctly. 

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You are right. I am about to close mine too and have a decent amount in deposit, $3K, and i asked them and they told me it would be 2 billing cycles, which i think is a little crazy.

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I think it depends on hoe busy they are, They say 2 billing cycles but it can be faster. They just say the 2 cycles to give them plenty of time to get squared away, Some people have auto pays coming out and stuff and they want to make sure that they have all been stopped before they issue a refund just in case they have to pay something before the check gets sent. 

[Anonymous]

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@Officer737 wrote:

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@KSK1912 wrote:

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@Officer737 wrote:

2 billing statements before they issue the refund if I read their information correctly. 

---

You are right. I am about to close mine too and have a decent amount in deposit, $3K, and i asked them and they told me it would be 2 billing cycles, which i think is a little crazy.

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I think it depends on hoe busy they are, They say 2 billing cycles but it can be faster. They just say the 2 cycles to give them plenty of time to get squared away, Some people have auto pays coming out and stuff and they want to make sure that they have all been stopped before they issue a refund just in case they have to pay something before the check gets sent. 

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+1

The standard 'give us 2 billing statements' is just a .....'don't sweat us' til then, just in case + as mentioned they want to make sure no new charges come thru but for

accounts with clearly zero balances and dormant like usage it doesn't take long.

They just don't want ppl calling every 2 hours looking for the mailman....same thing as when the DMV says your license will be in some time in the next 3-6 weeks and it shows up in 3-6 days.....they can work faster w/o the 'where's the check' call every 48 hours from every schmuck with a $150 deposit seeking gas money

[Officer737]

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@Anonymous wrote:

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@Officer737 wrote:

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@KSK1912 wrote:

---

@Officer737 wrote:

2 billing statements before they issue the refund if I read their information correctly. 

---

You are right. I am about to close mine too and have a decent amount in deposit, $3K, and i asked them and they told me it would be 2 billing cycles, which i think is a little crazy.

---

I think it depends on hoe busy they are, They say 2 billing cycles but it can be faster. They just say the 2 cycles to give them plenty of time to get squared away, Some people have auto pays coming out and stuff and they want to make sure that they have all been stopped before they issue a refund just in case they have to pay something before the check gets sent. 

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+1

The standard 'give us 2 billing statements' is just a .....'don't sweat us' til then, just in case + as mentioned they want to make sure no new charges come thru but for

accounts with clearly zero balances and dormant like usage it doesn't take long.

They just don't want ppl calling every 2 hours looking for the mailman....same thing as when the DMV says your license will be in some time in the next 3-6 weeks and it shows up in 3-6 days.....they can work faster w/o the 'where's the check' call every 48 hours from every schmuck with a $150 deposit seeking gas money

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LMAO Exactly! 

[NichelleN]

I was told 2 billing cycles / +60 days as well when I closed my secured card. She then told me that if I wanted the money faster, I should call in after the status changed on the account. It's been so long that I can't remember what the status needed to be. Nevertheless, I remember calling and they immediately issued the refund. I did have $4 charge hit the account later which I immediately paid.

It helped to call back as I received my money back pretty quickly. It was much sooner than 2 billing cycles.