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@Anonymous wrote:
@DoroLucky wrote:In the stage of rebuilding (so I thought at the time), GREED got the best of me. I got excited seeing a pre-approval and before you know it, I applied and was approved for $750 . That was September of last year, card is now 6 months old. The card is not SD'ed but I've only used it twice and PIF each time. I really don't plan on using it again. I am not going to buy a GM so I do not need the "perks". I have over 20 CC accounts on each report, half old and closed and half new and opened.
Should I close it?
First Congrats on you credit scores, great job....and with that said, you definitely will qualify with higher credit limits. I personally would close it!
It appears that it offers you no real benefit since you are not in the market for a GM car and with the limit so low...not much you can do with it. I definitely know when you rebuilding a pre approval is hard to turn away from, lol! Good luck!
Thanks! Saw your sig and I will be just like you in 2 years
So I just wanted to throw in my recent experience with CLI for my buypower card.
I've had it since 05/15 with no luck getting an cli through luv. Last week I hit it again and it said it was under review. Called in to CS and tried to see what they could do. After going back and forth with questions on what constitutes a SP and HP CLI request, I decided it made sense for me to give them the HP. After review, they came back with $1500(requested 5k). I wasn't happy about that so I basically told them that although I'm thankful for it, "my other cap one cards have me at 7k right now, could you match it?" The nice lady put me on hold after I explained I wanted to make a purchase to take advantage of what I had left on my intro APR. She came back and offered 5k.
She also told me that because I'm still new to the card (10 months), that's why she was unable to provide a SP CLI. I'm still rebuilding, so I figured I give them the HP since it will more likely result in a cli versus apping for a new card that will either result in a low limit or declination.
All in all, i'm happy with the trade for the HP. Helps my util a bunch.
Now I feel like I want to cut the dead weight TODAY
Put all my cards in a chart and included every bit of info on them. Gives you a much bigger picture of what you're working with. Threw teh GM BuyPower in there and was like LOL. It's time to go!
Some days it seems like I'm the only guy on this forum that dislikes Cap-1 and likes the GM Card which I use a bunch and yes I buy GM products.
@pipeguy wrote:Some days it seems like I'm the only guy on this forum that dislikes Cap-1 and likes the GM Card which I use a bunch and yes I buy GM products.
It's not like I dislike the card. I don't, it's just really useless to me and I can't stand seeing it in my line up (of better LIMIT cards) LOL. September will make it a year but I feel like I should cut it loose now
How many people on here actually ever redeem the rewards on this card? I see so many threads about closed accounts but I don't think I've seen one about a redemption.
Despite the apparently good nominal earn rate, Capital One gets WEMC-level fees from merchants, and must make a huge profit from all the abaondoned rewards they don't need to pay out.
Well well well logged in to my GM card acct. to check my rewards and I'm SHOCKED by what I saw. They gave me an auto CLI which is now $1250 (I think maybe today or yesterday because my mint still showed the $750 SL yesterday).
I'm happy for now but I still want to close it if no major improvement at the one year mark.
Just when I was about to pull the trigger and close this card 2 days ago......see my edit up top