4 Weeks? - How Long?!

Gumption_Brash

Hello all,

I've recently canceled a Credit Card with Capital One. They told me it would take four weeks for it go through.

-Is this right? Why so long?

-Most of all I'd like an opinion on whether they actually will cancel, the woman argued and complained that I was cancelling my card, but eventually said they'd send out the confirmation paperwork in four weeks.

-I have no outstanding charges/fees/transactions - there has been no activity on it for two weeks, and all places that I use the card with, have new details from my actual bank account.

-The time frame, for me, is an issue.

All help is appreciated. Thank you...:T

Anyone have an idea on how long it should be?

Moggles_2

Yes, this is normal.

If you believe you have an excess of available credit, it would be advisable to check your credit reports to make sure your Cap One account is marked "settled" before you submit a credit card application.

The whole process (from the initial phone call to C1) can sometimes span a couple of months, so allow plenty of time

SwissLe

This is perfectly normal. This is to action the closure of the account and to ensure that no payments are made using the card. Your card remains active until you clear the balance and can even be charged if you have a recurring transaction after closure. It can take much longer than this for it to be marked on your credit rating as well.

May I ask why it's an issue?

Gumption_Brash

SwissLe wrote: »

This is perfectly normal. This is to action the closure of the account and to ensure that no payments are made using the card. Your card remains active until you clear the balance and can even be charged if you have a recurring transaction after closure. It can take much longer than this for it to be marked on your credit rating as well.

May I ask why it's an issue?

Ho hum, the balance is clear, but I guess they would wait anyway to see if any more comes off. :mad:

It's an issue because instead of 1 credit search on my history they have performed several. As you can imagine I was not chuffed, the lady argued with me about it until i rattled off some dates to her, and she replied that she couldn't understand it. Then she said that yes they did do the checks (5 in total), but that they weren't detrimental to my report (which of course they were).

My getting the card has been bad timing from the start, with a large 'available' balance I'm less likely to get a loan from my bank, as most lenders these days want a readily assessable client. Capital One has been a bad choice from the beginning.

I'm just glad I didn't spend the money...;)

Gumption_Brash

Moggles wrote: »

Yes, this is normal.

If you believe you have an excess of available credit, it would be advisable to check your credit reports to make sure your Cap One account is marked "settled" before you submit a credit card application.

The whole process (from the initial phone call to C1) can sometimes span a couple of months, so allow plenty of time

- Ouch, thanks for the info...:D

kabob

Gumption_Brash wrote: »

Hello all,

I've recently canceled a Credit Card with Capital One. They told me it would take four weeks for it go through.

-Is this right? Why so long?

-Most of all I'd like an opinion on whether they actually will cancel, the woman argued and complained that I was cancelling my card, but eventually said they'd send out the confirmation paperwork in four weeks.

-I have no outstanding charges/fees/transactions - there has been no activity on it for two weeks, and all places that I use the card with, have new details from my actual bank account.

-The time frame, for me, is an issue.

All help is appreciated. Thank you...:T

Anyone have an idea on how long it should be?

I had the same when i cancelled my capital one card. it took me 2 attempts to get a letter sent out.

It should take 4 weeks to go through but after this time you might need to chase them at least once more if you want the confirmation letter. it took about 2 months for me to get a letter through in the end. When i kept calling for a letter they didn't seem to understand why i wanted it in writing, so be persistent if you do.