I love tax season.
I just zero'd out my Quicksilver and my Apple Financing Visa with my tax return, and boy does it feel good to have $2000+ of debt go poof in an instant. Can't wait till March when another card is going to be zero'd out! But now a couple of questions.
Firstly, what should I replace the Financing Visa with? I rarely buy Apple hardware and there's no way that I'm going to dedicate a $2200 line to iTunes purchases. My spend is mostly restaurants, travel (insofar as $100+/month in transit fare is considered "travel"), and miscellaneous purchases. I was thinking about trying for an Arrival since I'll be heading overseas long-term in about a year, but a Sallie Mae wouldn't hurt either. Neither am I above closing it out altogether and moving the line over to my NFL Extra Points card (but that would be the least attactive option, I think).
Secondly, what should I do with the Quicksilver? The obvious answer would be to sockdrawer it and let it pad my utility, but at only $1250, it doesn't offer much in the way of padding. Begging the EO for scraps seems like too much trouble, though, and I'm honestly tired of dealing with Capital One's clueless customer service reps. I was thinking about letting it report a zero balance and using it as leverage for a CSP, then closing it out for good should I be approved. Again, I'll be travelling overseas long-term in a year, so I would really like a travel-centric card. Don't care one bit about paying an annual fee, either. $95 is less than what I pay per month for transit fare. I don't actually plan to apply until May when several accounts hit the 1 year mark; I'm just sketching out a strategy right now.
Thanks in advance.
@Creditaddict wrote:you might just be in line to make the jump for CSP... I know they like to see another $5k but someone has to be the first and they like relationships and you have the $2k on freedom already so i think maybe they will go! I say it's worth a try and apply once your paid off happens.
I actually applied for a CSP a few months back, but was denied for high util. That was the only reason, to my surprise (the analysts didn't even mention my 10 INQs or <1 AAoA). That and the fact that I have a Freedom, a checking account, and a savings account with Chase is why I'm leaning towards that card as opposed to the Arrival. Once my reports are updated, I may just try again rather than wait til May.
@Networth wrote:What are your current scores? You could probably get a CSP the card is not really that hard to get. It came out as higher bracket CC but Chase has slowly lowered the criteria to qualify. I would do the CSP to complement your Freedom and have the 10% bonus from Chase checking. I like UR points for when I do international flights but they can be good for other things.
Right now, they're nothing to write home about. 650-670 depending on the report, but it's ALL util. No lates, collections, charge-offs, bankruptcies, or anything.
My statements cut before I paid off the balances, so I'm looking at a minimum 30 day wait before I can try for it again.
...
Well, I guess that answers my question about what to do with the Quicksilver: Get the CSP, then close.
Now I just need some suggestions about what to do with my Apple Financing Visa.