Sha na na na Heyeya GOODBYE!!

[Closingracer99]

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@keithB wrote:

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@Closingracer99 wrote:

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@longtimelurker wrote:

Well, I have to put on my Capital One cheerleader hat (they pay me $2 every 18 months to do this): while there is a lot of pain if you start with rebuilder cards, the relationship for those going in later can be fine.   Reps aren't great (but I've had bad luck with Amex as well) but the QuickSilver is really an excellent card, with the no-minimum, earn as transactions post, reward system.

So those who want to spend extra keystrokes calling it Crap One: don't rule out getting a QuickSilver later on because of earlier issues.  Yes, it may not "grow" with you, but with credit in decent shape, big CLs don't matter and you probably won't be putting a huge amount on uncategorized spend anyway.

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I don't get why people want to waste keystrokes and call it Crap one.... Just tells us their maturity level which would be pretty low in the Teens range imo 

While I still View Capital one as "sub prime" Specially when they give me $500 credit limit while I have much more with Chase, Citi, Amex, Discover and GE I still like my QS card for it's 1.5% CB ... Just be using it for buying Water or etc at CVS or wherever and let the CB grow to something substantial and get it as CB or maybe a gift card 

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It's the mob mentality.  It's easier to hate on something and gain acceptance with the fellow haters then accept the rejection they feel when they get denied for the credit line increases they feel they are entitled to 

I actually have fun with my CapOne secured card - I discovered the card design center and get a new design each month, haha!  I'm like you, the CapOne I use for all my little stuff and I save the larger lines for the bigger purchases.  But I'm not much of a baller, I suppose - even with 9 other bankcards somehow I still find room for my CapOne in my wallet

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I don't love Cap 1 and I still view them below Chase and etc but they do serve a purpose with the lower tiered cards and even their QS and Venture cards which are great cards.  I get why people might be unhappy with them but I wouldn't say they are terrible. 

[wacdenney]

The Wal-Mart card reported as closed today.  No change to my EQ Fako score at all.  I assume closing the QS1 will have the same nil effect when it reports.

[soxfan1984]

If you dont mid me asking how old the accounts you're closing are. I just closed a 4 or 5 y.o. cap one acocunt, I have a Home depot card also that only about 1y.o. wondering if its ven worth it to keep, Citi MC / Barclays Visa, Am-Ex and Discover it all have rewards and better rates. I' reluctant to close any account that has no AF. TIA

[Closingracer99]

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@soxfan1984 wrote:

If you dont mid me asking how old the accounts you're closing are. I just closed a 4 or 5 y.o. cap one acocunt, I have a Home depot card also that only about 1y.o. wondering if its ven worth it to keep, Citi MC / Barclays Visa, Am-Ex and Discover it all have rewards and better rates. I' reluctant to close any account that has no AF. TIA

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I wouldn't close any card even if I hated the Customer Service unless it has Fees or an AF... Just sock drawer it and about every 4-6 months go buy a bottle of watter at CVS or something with it 

[39Xelor]

i'm going to try the EO later today or tomorrow and try and PC my capital one plat card to a VentureOne card.. VentureOne actually isn't that bad of a card.. and no AF!

[longtimelurker]

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@39Xelor wrote:

i'm going to try the EO later today or tomorrow and try and PC my capital one plat card to a VentureOne card.. VentureOne actually isn't that bad of a card.. and no AF!

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The Venture One actually IS a bad card, at least compared to the alternative Cap One cards.  It earns 1.25c per $, Quicksilver earns 1.5c per $.

But if that isn't an option, what is the Plat giving you?  Less than 1.25%?

[wacdenney]

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@soxfan1984 wrote:

If you dont mid me asking how old the accounts you're closing are. I just closed a 4 or 5 y.o. cap one acocunt, I have a Home depot card also that only about 1y.o. wondering if its ven worth it to keep, Citi MC / Barclays Visa, Am-Ex and Discover it all have rewards and better rates. I' reluctant to close any account that has no AF. TIA

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Both my QS1 cards were 3+ years old.  Wal-Mart was 6 months old.  You shouldn't notice any impact on your score for 10 years assuming closing them doesn't hurt your utilization.  Wether or not to close them is up to the individual.  There are certainly plenty of valid arguments to be made for leaving them open.  It simply wasn't worth the headache to me any more.

With the Home Depot card don't forget that they will give you either 5% off at the register or 6 months at 0%.  I keep the card for the 5% off.  You just have to ask the cashier for it and it's instant.  No waiting for cash back or anything.

[wacdenney]

My QS1 finally reported closed today and my EQ FAKO score went up 8 points from yesterday.   baaahaha

Certainly it could have gone up for any number of reasons, but it's a funny coincidence.

[BarryNTexas]

FIrst off to Wacdenney - congrats on pulling that trigger!  I too am reviewing when to close my CapOne cards.  Maybe next spring.

I have shared my sentiments about CapOne in the past and it certainly is a love/hate relationship.  I needed them badly at one point and now, not so much.  They are SDd at this time.

My dilemma is that once my scores jump last Nov due to several actions I took I was suddenly overtook by the urge to apply and get some cards from issuers like Chase and Citi.  So enamored with new status I have actually set myself back probably in growing my lines of credit.  Time will tell, but I do know for sure with CapOne it will take me years to get a 10K limit with them on the cards I currently have.

If I know what I know now I would have gotten one new card - maybe Chase Freedom.  Let that grow while continue working on my derogs.  And once they were totally cleaned off and my scores were in the 700's, do some serious apping that would have yielded much higher starting CLs in my opinion.  My perfect world would be 4--5 cards all at 10K plus credit limits.

But I have put myself in the position of chasing CLIs with a few cards to achieve this.  Setting aside AMEX and their 61day trick, it's not going to be easy!

Culling the herd will be part of the end game.

[Closingracer99]

Unlike Chase Capital one does SP's for CLI and EO and Facebook has pretty good success