Hi all, I recently closed a Cap One card and got a letter in the mail that said: "Per your request, we have initiated the process of closing your account." Does this mean that they have closed the account and I can rip up their card or will they send another letter stating that the account is now closed? Thanks.
It will stay open until you pay it off---if it is paid off now, I would expect a letter stating that or give them a call. You might get another offer from them (from marketing,etc) with better terms to stay.
I actually closed this account right after I got the card because I didn't like the terms so I didn't even activate the card so nothing was charged on the account in the first place. Should I call them to verify that the account was closed or is the letter good enough?
I would keep a copy of this. I just paid off my Cap 1 that I had closed last year. Got that same message too on my billing statements each month. Just pulled equifax and found that this now reports as "Closed by Credit Grantor."
I am in the same situation. I closed a capital one account as soon as I received the card. Since I never used the card, should they be reporting it to the CRAs. I recently got a copy of my credit report and this account is in all of them. Thanks
I got a card in 4/99 from First National Bank of Brookings, when I received the card, I had a $375 credit limit and $348 of it was used up in fees already! I called and immediately canceled the card. On my CR it says "account closed at consumer's request. However, it is scheduled to stay on my CR until 5/2007. That's 8 years after closure. I don't know why, and wonder if it hurts the credit score.
Lucy, I think closed accounts do stay on your record for some time (7-8 yrs, not sure), but they should not hurt your score if you paid off the balance. I'm going to check my report in a few months to see if this account was really closed or not.
Mike: I didn't pay, I canceled immediately. It shows a $0 balance, I1, closed at consumers request, so it is a good line, but it also shows open in 4/99 and date of last activity 5/99, so I doubt it helps the credit score much.
I HAVE CLOSED MANY ACCOUNTS...It is never really close until you see "CLOSED AT CONSUMER'S REQUEST" on the credit report...even then I would call the credit card company to make sure they closed the account on their computer system!!!
I closed cap.1 nearly nine months ago with a zero balance and still receive email every month saying that my statement is now available to be viewed online. Then I receive a statement in the mail. I call them once every couple of months to tell them to stop wasting paper but the statements just keep on rolling in. The account was still reported as open months after I closed it. Finally, they sent me a letter to say that they were now reporting the account as closed but it still appears as an open account on one report. I have found this company very difficult to get away from. On the positive side, they are not claiming that I owe them anything.
