@thummel wrote:
My first card from capital one was a platnium that I converted to a qs1. Currently has a 2750 limit on it and I really don't use it often. Trying to decide if I should lose it and go for something else like the double cash. It was my first card so it's my oldest trade line. Just trying to weigh the pros and cons. I do have a discover it that I use from time to time. Will be using next month for gas. Any thoughts appreciated.
I have both and I much prefer the Quicksilver to the Citi DC; I think you should keep it.
Reasons why I think Quicksilver is better:
1. better starting credit limits
2. auto CLI's (Citi has none)
3. soft pull luv button CLI's (as opposed to Citi DC... in 11 months there's been no auto CLI and only HP link)
4. availability of zero balance or zero interest balance transfers (Citi has had none since the first month)
5. lower cash advance fee
6. cash back is immediate with QS; with Citi DC you only get it when statement hits, and there's 1 month delay on first half and 2 month delay on 2nd half
7. QS has no threshold, you can redeem your cash back whenever you feel like it, Citi makes you wait until you've got $25 worth
My advice: use and enjoy your Quicksilver.
@SouthJamaica wrote:
@thummel wrote:
My first card from capital one was a platnium that I converted to a qs1. Currently has a 2750 limit on it and I really don't use it often. Trying to decide if I should lose it and go for something else like the double cash. It was my first card so it's my oldest trade line. Just trying to weigh the pros and cons. I do have a discover it that I use from time to time. Will be using next month for gas. Any thoughts appreciated.I have both and I much prefer the Quicksilver to the Citi DC; I think you should keep it.
Reasons why I think Quicksilver is better:
1. better starting credit limits
2. auto CLI's (Citi has none)
3. soft pull luv button CLI's (as opposed to Citi DC... in 11 months there's been no auto CLI and only HP link)
4. availability of zero balance or zero interest balance transfers (Citi has had none since the first month)
5. lower cash advance fee
6. cash back is immediate with QS; with Citi DC you only get it when statement hits, and there's 1 month delay on first half and 2 month delay on 2nd half
7. QS has no threshold, you can redeem your cash back whenever you feel like it, Citi makes you wait until you've got $25 worth
My advice: use and enjoy your Quicksilver.
And once again, several items in your list criticizing the DC do not pass a simple fact-check. I figure it should also be reminded that the OP has a QS1 as opposed to a standard QS. Number 1 isn't quite accurate, especially when the DC is compared to the QS1. You are also categorically and indisputably wrong on numbers 2 and 4 as well if you are trying to state these as facts. Those two bullets in particular really make me curious about your intentions with your post. Citi does give auto-CLIs if your credit and usage warrant it. As for number 4, what you are stating is not consistent with what is currently listed in the public offer on Citi's own website. In fact, they give you 4 months to take advantage of the 15-18 month initial offer and BT offers regularly appear later on if your profile permits them. This has been the case with all of my Citi cards.
As for number 3, I am able to obtain SP CLIs on all of my Citi cards at the same 6 month interval that Capital One imposes on most accounts, so... yeah. Number 5 is hardly praiseworthy on a rewards card anyway.
Regardless, if the OP can qualify for the DC, it will be a noticeable improvement over the QS1; especially because there is no sign up bonus to consider in this comparison. If your QS1 has an AF, that should be even more pressing to address soon.
Personally, I could never justify a $39 AF and a .5% penalty on purchases just to have instant rewards. That wouldn't seem... advisable to me if better options were attainable even with a delay.
Sharingan, I don't know why you 'questioned my intentions'.My post was based on my experience with Citi DC, which I realize is actually a full year, not 11 months, and with my 1 1/2 years of experience with Quicksilver.1. my recollection is that QS had higher starting limit. With DC my starting limit was 2600 and a year later it's still 2600, although my scores are about 40 points higher than when I first got the DC.
2. auto CLI's (Citi has none) [in 1 year I have never received a CLI and was specifically told by a CSR that Citi doesn't give CLI's unless the account holder applies for it]
3. soft pull luv button CLI's (as opposed to Citi DC... in 12 months there's been no auto CLI and only HP link)[In 12 months I have never had an opportunity for a soft pull CLI, and my several CLI requests have generated EX hard pulls... and were denied]
4. availability of zero balance or zero interest balance transfers (Citi has had none since the first month) [ I have never had a balance transfer offer since the first month]
5. lower cash advance fee [QS 3%, DC 5%]
6. cash back is immediate with QS; with Citi DC you only get it when statement hits, and there's 1 month delay on first half and 2 month delay on 2nd half
7. QS has no threshold, you can redeem your cash back whenever you feel like it, Citi makes you wait until you've got $25 worth
This is Christmas Day and I dont want to lock any threads today. Im going to remind everyone to be civil and respectful in their posts there are 2 in here that are approaching NSF status.
http://ficoforums.myfico.com/t5/Credit-Cards/Forum-Etiquette/td-p/2905196
@gdale6 wrote:This is Christmas Day and I dont want to lock any threads today. Im going to remind everyone to be civil and respectful in their posts there are 2 in here that are approaching NSF status.
http://ficoforums.myfico.com/t5/Credit-Cards/Forum-Etiquette/td-p/2905196
Sorry, I modified my post.
@thummel wrote:
My first card from capital one was aplatnium that I converted to aqs1. Currently has a 2750 limit on it and I really don't use it often. Trying to decide if I should lose it and go for something else like the double cash. It was my first card so it's my oldest trade line. Just trying to weigh the pros and cons. I do have a discover it that I use from time to time. Will be using next month for gas. Any thoughts appreciated.
Hello, and welcome to the forums!
The QS/QS1 and Citi Double Cash are both excellent products, each with it's pros, and a few cons. I don't have the DC, but I do have both a QS and QS1, so I can help somewhat there, or at least provide my own perspective.
Some folks with a QS1 are able to get the AF waived, so if you can do that (or have already) your question would be a 'no-brainer' - I would keep it. It's your oldest account, and although the history will continue to report for (up to) 10 years after you close it, 10 years isn't as long as it seems (I'm personally 'realizing' this now - I have some old positive accounts that are able to drop off myself).
Assuming you're unable to get the AF waived (like myself - they won't budge for me) you have a few options. To me, the least desirable option is to continue paying the AF - that's basically money 'lost', so my priority would be to remedy that one way or another. If you're not concerned about adding a new account, you could see if you prequalify on the Capital One website for a QS or a Venture. If you do and are approved, after six months you could simply move the credit line from your old account to the new one. While this wouldn't preserve the old account for AAoA purposes, you would be able to 'retain' the credit line. If you chose this option and went with a Venture (which also has an AF) you could have it changed to a QS before the AF is charged, which many folks around here tend to do (Venture historically comes with higher starting credit lines than QS, which is why many folks go that route).
Of course Capital One is known for doing a HP on all three credit bureaus which is something to consider as well. If you apply for a Citi DC, you'll get at most a HP on two credit bureaus, and possibly only one. Also, the QS and Venture both come with new account bonuses. Venture's bonus is most attractive, but has a higher spending threshold that must be met. Assuming you were to go with the QS, the bonus is $100 for spending $500 in the first three months. If you include that bonus in your calculations, you would have to spend $20k before the Citi DC would earn you more cash than the QS, even at the higher rewards rate. If you factor in the bonus from Venture, the break-even point is even higher.
The particulars of redeeming rewards on each has already been mentioned here, and waiting for $25 may or may not matter to you. I have the same $25 minimum on my Amex BCP, and while it seems unnecessary it's not a show-stopper (I bank all my rewards anyway, so waiting an extra month isn't a problem).
In my own case, Capital One has been very good to me, and my QS/QS1 cards are what I pull out if there's ever a problem with another card, since my Capital One cards "just work". All the years I've had a card with them, they've been 'drama-free', and to me that's worth a lot. Some folks will report a similar experience with Citi, and it could be that you'll have an equally pleasant time with either moving forward. Hopefully some if the details I've provided will help with your decision.
Good luck, and let us know what you decide! 
@thummel wrote:
Thanks for the good response. I actually have 3 cards with capital one the others being my PlayStation card with a 4000 limit which is a year old now and I just got a venture one last month with a 7500 starting limit. I would love To get a freedom but I have too many accounts for the 5x24 rule so that's out of the question. I wish pre qualified links worked for me but I think it's because I'm only 20 they don't work.i have only got 2 invitations for the citi diamond preferred but I tossed them. I turn 21 next month so that may change. I might actually go for a QS with no annual fee possibly.
Ah, that changes things a bit!
You're actually in pretty good shape already... if it were me, I would try to get your Venture One changed to a Quicksilver in a few months (it doesn't hurt to try now, but most likely they'll make you wait until the account is six months old). Then, when the AF comes around on your QS1 if they won't waive it I would simply combine it with the Venture One (which will hopefully be a Quicksilver by then). Of course, remember you can hit the 'button' for a CLI every six months with Capital One, and I would do this on each card as often as the calendar will allow before combining, since the combination itself is said to 'count' as a CLI.
I know what you mean about Chase... back in the spring, I was pre-qualified for Freedom and Slate, but I didn't pull the trigger since I figured I would be able to get a better APR later on... of course now with the 24/5 rule, it will be quite some time before I'm eligible, but that's OK... I'm usually able to emulate the Chase 'perks' using the cards I currently have (especially Discover).
I went for my current QS last March in anticipation of closing my QS1 MasterCard when the AF came due in July. As it happened, they started allowing accounts to be 'combined' just before the AF was due - and two months before the new QS Visa was old enough. So, I agreed to pay half the AF once again, knowing that it would be my last. I just got a CLI on the QS1 two weeks ago, so I'll be eligible for one more before the AF is due, which is when I'll likely move the credit line to my QS Visa. I'm eligible for a CLI next week on the QS1 (the 29th) so I'll have a chance to get one more for it as well before the (likely) combination. I didn't plan it out to work out that precise, but I got lucky that it did... LOL
Having a little more info about your situation, I'll also add that if you're interested in having an account with Citi, the DC is an excellent choice, and with the profile you describe I believe you'd likely have no problem getting approved. Especially if you can get the Venture One changed to a QS, you could simply just have both the QS and the DC, and then decide which works out better for you. Some folks will suggest to get a new QS (to get the bonus) then roll the Venture One and QS1 credit lines over into it after six months, and that would work as well if you don't mind the additional HPs... it just depends on your own priorities.