After about 18 Months I closed my Cap1 sec card., The rep asked why and I said it has served its purpose well but at the point it is hurting me more then helping. She looks up my account an notice that I havn't used it since May2003. I told her that them not reporting true credit limits hurts my utilization ratio and that it didn't matter if they upgraded to a platinum card. I never charge more then a few hundred dollars at a time. She was stunned and closed my account... YIPEEEEEEEEE.... Thanks Capital One for help building my credit... and... good riddance...
Watch your reports as I closed out one of my Capital one cards (I only have one now-Carnival Mastercard by Capital one I use to cruise with) about a year ago and keep getting statements with 0 balance, 0 due. Questioned it a couple times and every time I did they stated I NEVER closed it out and there was NO notation of my call to close it! So I mailed a CRRR letter to them after the 2nd time of contacting them to close it out. Finally it is closed on my reports however the weird thing is I STILL get the credit card billing statements each month w/0 balance, 0 due. It just seems like a waste to mail it to me each month but who knows why?!!! The best way to close out an account is by mail CRRR so you have physical proof you closed it plus demand a letter back stating it was closed. I got it closed after mailing a physical letter. Seems CSR's just have NO idea what the heck is going on there!
Hmmm.. good points.. maybe I will do that.. I saw a couple of websites the recommended sending a CRRR letter. Since my account it a secured account I am expecting my $99 back so if I don;t get it with in a few weeks they say I shoudl get it then I will shoot off some letters. On the mean time I am monitoring my Crs to make sure they report closed by consumer's request
WIFE closed a card (don't remember what card) sent CERTIFIED R/R kept on getting bills $0 balance $0 due...on the credit reports NONE SAID IT WAS CLOSED...disputed as CLOSED---CRA---->REMAINS (OPEN) Called the phone number on the bill...TOTAL CREDIT LIMIT STILL AVAILABLE...BALANCE OWED $0...PRESSED THE NUMBER FOR CSR...LONG STORY SHORT--->"WE WERE WAITING FOR YOUR VERBAL PERMISSION"
If it is a secured account then I would have definitely sent a letter. Don't they need a signature in order to release the funds? I had a cap1 secured card many years ago when I was reestablishing my credit. It did just that it did for you-helped my credit and when I was done with it I got rid of it. I now have a few Chase cards with rebates and much better interest rates. That's great that you're moving up!!! I wish you all the best!
