Credit Cards

[txjohn]

Cancelled my Orchard Bank CC today.  Had it for about 1.5 yrs with $750 CL.  Was actually my newest acct and substantially lowest CL.  And of course they offered to cut AF in half (credit back) if I stayed with them.  But I see this card as a hold back.

If I am going to spend, its going to be with a bank or CU that works with me and has Rewards

[Duplex]

Wow!  You've come a long way in a year and a half.

[YoungEntrepeneur]

Congrats! Must be a great feeling letting it go.

[txjohn]

Well, actually it's been about 4 years in the making.  And I have had a BoA card with $10k since 2006.  Don't know why I app'ed for Orchard, probably a popup late at night, didn't know who/what they were and said "hmmm, let's  see what they say" only to learn after it was a card not worth having at my stage of building back.  That's not to say they wouldn't have been a good fit a few years earlier.

[YoungEntrepeneur]

I would close them too if I had a PenFed Cashback Visa. I can't be mad at you for that one.

[txjohn]

Actually went with the PenFed Travel Reward Visa.  Planning to use my Reward cards to pay for vacations.

I upgraded CapOne to a No Hassle Miles Reward Ultra, changed out Orchard for PenFed Travel, added Alliant and Discover Escape (is Discover Miles with double rewards).

Once my new CapOne gets here I will call in to transfer current $1K CL to new Reward card, then close original.

Plus Chase let me product change my WAMU Plat Visa nothing card ($3.5k) to a Freedom Reward.

Lastly, keeping my BoA Plat Plus $10k.  I wonder if they would product change/convert to World MC Reward?

No more builder cards! 

Message Edited by txjohn on 03-30-2009 10:58 AM

[Kay_Cee]

Awesome results you've had, TX!!  I'm dumping my HSBC with it's very generous $300 credit limit in October when they try to bill me for an annual fee and not until then, so I can tell them what to do with the AF and their card...

[txjohn]

Yeah, I should have done that.  I just paid the AF in January.

[lessons_learned]

Wow, you've made such great strides in just a year.  What was the major difference in your reports from then and now?

[txjohn]

Nothing magical....just the same 'ole principles that are taught here.

And it has been 4 years in the making....not just 1.  Time, the one constant of credit.