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Cards on the chopping block

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ecxpa
Valued Contributor

Re: Cards on the chopping block


@Kenny wrote:

@ecxpa wrote:

@Every month or so I take a look @ my CC portfolio and freshen things up with CLI's and rewards calculations etc.  Today I decided to finally get rid of some leeches and suckers.  I'm going to close an old Credit One card, just realized that I have been paying over a $100 AF on this thing @ 8.25 a month!  They were closed today but definitely by tomorrow this sucker is gone, also have a Cap 1 transition card that was PC'd to a QS1 but the AF on it is $59 for a paltry $700 credit line.  I have 3 other Cap 1 cards with a 1K limit  and AF that could very well see the ax also.  Just wondering if anybody else is  planning to chop some of their cards and why or why not


The annual fee should easily be removed with the chat or EO or Social Media team from Capital One.. just putting that out there. Smiley Wink


so do I just "ask" to have the AF removed or threaten closure if they won't remove the fees.  Unfortunately/fortunately I haven't given Cap1 much use because of the AF and lack of CLI in the first place.  I'm not into social media so I don't have a Facebook or Twitter acct.

Message 11 of 61
kdm31091
Super Contributor

Re: Cards on the chopping block

I will sound absolutely crazy for saying this, but likely the Freedom and Double Cash are both on my chopping block next year.

 

The freedom and the IT overlap too much for each to really be useful if you have both, and I find Discover's redemption to be better, although this is obviously a personal thing. I feel their gift card selection is better. I have a CSP, so it makes the freedom points a little more useful to me I suppose, but even then I barely travel...I only have the CSP because I wanted a good dining card since I eat out a lot (I should probably see about downgrading to the no AF sapphire).

 

The Double cash is an excellent card with a great cash back rate, but i have a Quicksilver and honestly I prefer the way it works. Yes you get a little bit less back, but it is given instantly, the redemption is less of a hassle, and you don't have to wait weeks for the rewards to post. Even though Citi did increase the line on my Double Cash after contacting the EO, I still find that the Quicksilver is overall more user friendly with its rewards. It is also redundant to have two general spending cards in my opinion.

 

Message 12 of 61
jlpaca
Regular Contributor

Re: Cards on the chopping block

I'm debating the Amex prg since I just got the annual fee and their taking away of the bonus threshold. The one thing holding me back is knowing I have the ability to swipe for over $25k if need be.
Message 13 of 61
Creditwiser
Valued Contributor

Re: Cards on the chopping block

Credit One.  It's a no brainer for me Smiley Wink

NFCU Visa 30k | NFCU Platinum 30k | Cap1 QS 12K | Cap1 QS 11.5K | Barclay MC 9k | Delta Gold Amex 30K | Discover IT 14K | CFNA FS 3200 | CareCredit 20k| Paypal Credit 5k |
Message 14 of 61
ecxpa
Valued Contributor

Re: Cards on the chopping block


@jlpaca wrote:
I'm debating the Amex prg since I just got the annual fee and their taking away of the bonus threshold. The one thing holding me back is knowing I have the ability to swipe for over $25k if need be.

That's a good feeling......and position to be in.   I would hate to swipe my Amex for 25K and have to pay for it in 30 days.......I make a measly 150K/yr........Smiley Very Happy

Message 15 of 61
ecxpa
Valued Contributor

Re: Cards on the chopping block


@Creditwiser wrote:

Credit One.  It's a no brainer for me Smiley Wink


just chopped Credit One.......feel better already.  They offered to waive the annual fee for 3 mos and decrease APR for 6 mos.  No thanks.    Interesting though, the new AF for a Credit One card is only $45  according to an offer I just got in the mail, mine was $96.........the APR on the offer is 19%.......mine was 24%.......so not a bad deal for rebuilding really.

Message 16 of 61
Creditwiser
Valued Contributor

Re: Cards on the chopping block


@ecxpa wrote:

@Creditwiser wrote:

Credit One.  It's a no brainer for me Smiley Wink


just chopped Credit One.......feel better already.  They offered to waive the annual fee for 3 mos and decrease APR for 6 mos.  No thanks.    Interesting though, the new AF for a Credit One card is only $45  according to an offer I just got in the mail, mine was $96.........the APR on the offer is 19%.......mine was 24%.......so not a bad deal for rebuilding really.


I would agree.  Ive really had no issues with them at all. They served the purpose. I paid a $75 AF that was charged one time not monthly. It was still steep but again, it served its purpose. 

NFCU Visa 30k | NFCU Platinum 30k | Cap1 QS 12K | Cap1 QS 11.5K | Barclay MC 9k | Delta Gold Amex 30K | Discover IT 14K | CFNA FS 3200 | CareCredit 20k| Paypal Credit 5k |
Message 17 of 61
jlpaca
Regular Contributor

Re: Cards on the chopping block

I've never spent that much but there's comfort in knowing it's possible.
Message 18 of 61
ecxpa
Valued Contributor

Re: Cards on the chopping block


@jlpaca wrote:
I've never spent that much but there's comfort in knowing it's possible.

+1Smiley LOL

Message 19 of 61
Fico2Go
Established Contributor

Re: Cards on the chopping block


@jlpaca wrote:
I'm debating the Amex prg since I just got the annual fee and their taking away of the bonus threshold. The one thing holding me back is knowing I have the ability to swipe for over $25k if need be.

 

 

One solution might be to app for one of the AMEX revolvers.  If CL exceeds 25K, u will be able to close with peace of mind.

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 20 of 61
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