Finally ready to close CapOne!

[nrm]

More closing, more chance for me!

[galahad15]

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@Anonymous wrote:

You do realize your Venture card has an annual fee of $59 right?

Cards with annual fees are better, and I suggest everyone have ONE in their pocket to use for most of their spending.

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Not necessarily, lol    For example, I have four 2% cashback cards, all with no AF, also 3 out of the 4 with relatively-low interest rates.  IME, I would rather have an AF-free 2% cashback card than a 3%+ cashback card with an AF, since the AF negates some of the value of the rewards received.  I closed out my last card with an AF earlier this year, when the issuer refused to budge on eliminating or PC'ing to remove the AF.  I also don't see myself as apping for a card with an AF again in the future.

[Chickenpotpie]

If its the company that works for you, heck yeah! 

[Chickenpotpie]

Kinda like, if I leave maybe they'll miss me?  anything is possible, and I may well come back around to them. Never say never....

but for now,  this is for capOne

[Anonymous]

but I just don't feel  CapOne is the company for me anymore.

I came to the same conclusion and dumped them.

[nrm]

By the way, who/what is CAP ONE, anyway?

[Anonymous]

Even though the CL is low on for you on this card, I wouldn't completely close the account.  That $900 could make or break your utilization if you were in a spot that you needed to finance a large purchase.  

I've had Cap1 for a long time and they never gave me increases either.  I believe I only got one.  However, when I opened my PenFed Platinum Rewards Signature Visa, I was given a VERY generous CL (16K).  I noticed that when that account hit the reports and boosted my score significantly, Cap1 wanted me to put them back in my wallet.  They increased my CL from 1500 to 5K and lowered my APR to retain my business (and my money).  

PenFed has been the BEST credit card I have ever had.  It took a lot of rebuilding from an identity theft issue a few years ago, but they have been by far the best lender to work with. 

Get a new card, put Cap1 in the sock drawer, and they will see that you are no longer using them.  If your socres allow you to get a decent credit limit elsewhere, they will find it on their soft pulls and place you in the auto-CLI bucket. 

[JustcallmeTM]

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@Anonymous wrote:

Even though the CL is low on for you on this card, I wouldn't completely close the account.  That $900 could make or break your utilization if you were in a spot that you needed to finance a large purchase.  

I've had Cap1 for a long time and they never gave me increases either.  I believe I only got one.  However, when I opened my PenFed Platinum Rewards Signature Visa, I was given a VERY generous CL (16K).  I noticed that when that account hit the reports and boosted my score significantly, Cap1 wanted me to put them back in my wallet.  They increased my CL from 1500 to 5K and lowered my APR to retain my business (and my money).  

PenFed has been the BEST credit card I have ever had.  It took a lot of rebuilding from an identity theft issue a few years ago, but they have been by far the best lender to work with. 

Get a new card, put Cap1 in the sock drawer, and they will see that you are no longer using them.  If your socres allow you to get a decent credit limit elsewhere, they will find it on their soft pulls and place you in the auto-CLI bucket. 

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Your one of those rare unicorns who got a apr reductions because for 4-5 years with this bank and I never got anything but 6 month apr reductions and smallish increases(understandable the first 2 years I left rather large balances, but after that it was PIF and nothing) and no BT offers. I had to completely ignore the bank and stop all spend to get any CLI and even then it became a moot point.

Everyone has there choices i'm on the side of close it if you don't see a use for it and this was after I started rebuilding by opening to many store cards and store co-branded cards. I have OCDish tendancies and rather close the card myself than have them close it out the blue. You never know if your status changes or your doing something as simple as refinace and it closes before you close on your house ending up with a re-score. I think for all the little things that can happen, because its been happening alot the last 3 months reading on here. I rather be Pro-active on my profile then leave stuff dormant.

[SouthJamaica]

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@Chickenpotpie wrote:

The house is bought and my scores are in the 760s across the board.  I've always considered closing CapOne as they NEVER give me credit increases.    So I'm willing to dump the card and move on.

I'm considering possibly a penfed card,  but what else would be a good card to look into?

Cards I have:

Amex blue everyday 27k

Discover it 13k

Chase Amazon 9k

Cap One Venture 3.5k

I want to avoid cards with AF &  CapOne  is kinda dead to me as I am to them apparently.  Never sure why they hate my acct but I've always paid them on time.  And I want to limit exposure to any one bank, and no store cards, thats not really my thing.

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1. I wish you would stay with Cap One; they'll come around, I'm sure of it.

2. Two of my favorite cards are the Penfed Promise Card and the Barclay Ring card. Penfed Promise has no fees. Ring Card has very low fee fees & very low interest.

[SouthJamaica]

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@Chickenpotpie wrote:

Happypill, correct its a venture one.  I had to take a look at the face of the card to see that (tells how little use it even gets) 

UncleB, CapOne does indeed work for some, but for me, nada.  I tried twice.  Once during the credit buildup and after.  I closed the CB card because they wouldn't go beyond 900 CL, so the only one left is Venture One.   And yes they can be a great credit builder card, I seriously won't deny that (can't poo-poo them on that either!).  FWIW they were in my wallet for a long time but I could never get the darn thing to grow.  Chase has actually been generous on my amazon card.  I started with 3500 credit limit with them.

I've worked pretty hard to get my credit house in order,  but I just don't feel  CapOne is the company for me anymore. I only want to stay at 4 cards so that means cutting some dead wood  (besides I need to stay fiscally responsible!)

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Well if you're going to stay at 4 cards, then I guess you've got to let Cap One go

Like I said, 2 of my favorites are Penfed Promise and Barclay Ring. I'm not big on travel rewards and all that, I like being able to save money on the credit card terms themselves.