Hello, I have a question. I'm a first time poster and I'm impressed by the advice and support on this board. I see now NextCard has a pretty bad rep and I'm concerned about something. I had that ridiculous deal of a $300 security deposit for a $300 credit limit. What finally set me off was their intention of sitting on my payments (sent EFT to them through my bank's billpayer service!) for 14 days. Anyway, I cancelled my card and now I was told it will be 60 days to get back my security deposit. Obviously I'm hoping to get it back before the vultures finish circling around NextCard. I'm already filing a complaint with the Minnesota Attorney General's office, but I figure this 60 day waiting period could have been in the fine print (which I don't have a copy of.) Anybody have any ideas on how to expedite the recovery of my $300? Thanks for your help. mcen0012
Hi, I would recommend that you begin proceedings immediately to recover your money. If you act now and document all conversations you've had with Nextcard reps, I suspect you should not have any problem recovering your money. While I am not aware of the balance you owe Nextcard, however, if there is one you could have them apply the deposit to the balance and then mail the remaining funds to you. You clearly have made a good decision to wash your hands clean of Nextcard (I did the same when they jacked my APR up from 9.9 to 18.9 for no apparent reason). Best of luck to you. Sean
Thanks Sean. Of course I paid off the bill entirely so they have my entore security deposit of $300. I've e-mailed asking politley for the money to be sent immediately or that that they provide documentation as to the legitimacy of the 60 day hold. Then in reserve I think I'll try PlanetFeedback and the BBB in San Francisco. Thanks. mcen0012
Well I sent a PFB yesterday & today I received a respectful email from Justin Browning (is this a real name?) He explained their policies (which I still don't agree with.) But most importantly he promised me that my security deposit would be in the mail in 7 days rather than 60. I hope someone gives Justin a job when the NextCard fiasco settles. Thanks for the help of those that responded. It's my first success thanks to this board. Now I've got to wait on the credit reports and get started on that! (Lizardking - I had already closed the account - I realized after the fact that your plan would have protected me as well.) Thanks, Tom
I could have sworn, that I read somewhere, that after an account is closed, a credit must be returned within 30 days. The reasoning for this is simple: They are still making money of of YOUR money!!!!!!!! You decision to go through PFB was very wise....the buzzards are circling and I thank Nextcard for denying me a year ago. WOOHOO
