I have a friend with a Capital One card she hasn't used in 5 years or better. I talked her into putting gas and some groceries on it to show a little useage after all that time then go for a CLI. LoL
Ok, I just was approved for Cap 1 Venture with 15K CL and 12.9% APR. My only other card is Cap 1 Platinum with 5K CL and 24.9% APR. That card still is in Credit Steps so the CL will rise at least $500 but that is beside the point. Obviously, I will stop using the high APR card and put it all on the lower one. I guess a balance transfer is in store, too!
My question is twofold: First, since the high APR card is only 4 months old, would calling for an APR reduction be a waste of time? Second, would putting the high APR in the sock drawer subject it to being closed by Cap 1 if I don't use it at all or sparingly?
Did you check the CapOne prequal site prior to applying for the Venture....just curious?
Ask for an APR reduction, I got one of my cards that started out as a HSBC > 20% APR card down to 13.9%.