Can you help me with a credit card question?

Question

About two months ago I got a secured credit card. Prior to that time, I had no credit rating, so the bank agreed to hold $2,500 of mine in exchange for giving me the card. They told me that after about two years of using the card that they would release the money they're holding.

Today my manager told me that he was going to cut my hours pretty severely. Obviously, this isn't good! Of course, I'm going to hit the pavement and go out and get another job to cover myself, but if I don't make it in time, I'll need some of that $2,500 the bank is holding to pay my rent!

Q1: How hard is it to cancel a credit card of this type?

Q2: If I do need to cancel it, how long would it probably take?

Q3: Any idea how long it would take me to get access to my $2,500?

Thanks for all your help,

Best regards

Answer 1

I am amazed at your posting. Did you actually mean to say you gave someone Two thousand Five hundred dollars for the privilege of getting a credit (secured) card ? I am sore you are so terribly naive, although it's not beyond the realm of possibilities.

I'd contact the secured card company and ask to be released from the agreement.