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One APR 24.9%.... The other is 12.9%

Regular Contributor

One APR 24.9%.... The other is 12.9%

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?
___________________________________________________________
EQ - 662
TU - 671
EX - 668
Message 1 of 14
13 REPLIES
Super Contributor

Re: One APR 24.9%.... The other is 12.9%

Yes to both.
EX FICO  16 INQ  791
EQ FICO  10 INQ  786
TU FICO  12 INQ  790
Total CL$477,00038 TL
Message 2 of 14
Valued Contributor

Re: One APR 24.9%.... The other is 12.9%

Just a note, generally you cannot BT on two cards from the same company.

Message 3 of 14
Super Contributor

Re: One APR 24.9%.... The other is 12.9%

+1
EX FICO  16 INQ  791
EQ FICO  10 INQ  786
TU FICO  12 INQ  790
Total CL$477,00038 TL
Message 4 of 14
Community Leader
Super Contributor

Re: One APR 24.9%.... The other is 12.9%

CAP 1 will not close your account if you don't use it so you can sock drawer it.  As for APR reduction, you can try but I highly doubt it.  But let us know should you win that battle.

Message 5 of 14
Super Contributor

Re: One APR 24.9%.... The other is 12.9%

Even with 2yrs with no activity?
EX FICO  16 INQ  791
EQ FICO  10 INQ  786
TU FICO  12 INQ  790
Total CL$477,00038 TL
Message 6 of 14
Community Leader
Super Contributor

Re: One APR 24.9%.... The other is 12.9%


Nixon wrote:
Even with 2yrs with no activity?

Yes.. I have an old CAP 1 I have not used in a loooong time.

Message 7 of 14
Established Contributor

Re: One APR 24.9%.... The other is 12.9%

I once went 3 years without using my CapitalOne card without them closing it for inactivity.  However…I do NOT advise anyone to go that long without using a card they actually want to keep open.  Buy a cup of coffee once a quarter or put a small re-occurring bill (Hulu, Netflix, etc.) on the card to keep it alive.

Current scores (FICO 8): EX-793, EQ-766, TU-760
NFCU Flagship $22K | NFCU Cashrewards $22K | Discover IT $34K | SECU Visa $10K | CSR $15K | Chase Marriott $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX SPG $23K | AMEX Hilton Surpass $15K | AMEX PRG | Aviator Red $26K | Citi TY Premier $11.6K | BoA Premium Rewards 23k | BoA Cash Rewards $15k | USAA AMEX $6K | Cap1QS $8K | BJs MC $13K | Walmart MC $5.1K | Loft MC $11,250 | Macy’s Store/Amex $10K/$4K | BR Visa $5K | JCP $7.5K | Kohl’s $3K | VS $3.2K | Home Depot $10K | Lowes $8.5K | Target $4.5k
Message 8 of 14
Community Leader
Super Contributor

Re: One APR 24.9%.... The other is 12.9%


sunkissed wrote:

I once went 3 years without using my CapitalOne card without them closing it for inactivity.  However…I do NOT advise anyone to go that long without using a card they actually want to keep open.  Buy a cup of coffee once a quarter or put a small re-occurring bill (Hulu, Netflix, etc.) on the card to keep it alive.


Mine was unused for like 4 years and then they start sending 0% offers.Smiley Happy

Message 9 of 14
Established Contributor

Re: One APR 24.9%.... The other is 12.9%


Yes-Its-Me wrote:

sunkissed wrote:

I once went 3 years without using my CapitalOne card without them closing it for inactivity.  However…I do NOT advise anyone to go that long without using a card they actually want to keep open.  Buy a cup of coffee once a quarter or put a small re-occurring bill (Hulu, Netflix, etc.) on the card to keep it alive.


Mine was unsed for like 4 years and then they start sending 0% offers.Smiley Happy


Cool beans! Smiley Wink

Current scores (FICO 8): EX-793, EQ-766, TU-760
NFCU Flagship $22K | NFCU Cashrewards $22K | Discover IT $34K | SECU Visa $10K | CSR $15K | Chase Marriott $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX SPG $23K | AMEX Hilton Surpass $15K | AMEX PRG | Aviator Red $26K | Citi TY Premier $11.6K | BoA Premium Rewards 23k | BoA Cash Rewards $15k | USAA AMEX $6K | Cap1QS $8K | BJs MC $13K | Walmart MC $5.1K | Loft MC $11,250 | Macy’s Store/Amex $10K/$4K | BR Visa $5K | JCP $7.5K | Kohl’s $3K | VS $3.2K | Home Depot $10K | Lowes $8.5K | Target $4.5k
Message 10 of 14