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Contributor
DVH1980
Posts: 246
Registered: ‎08-24-2011
0

Re: Should I cancel my Visa Black Card?

No doubt the Amex wins in the prestige department. Since you seem to pay in full every month the fact that its a charge proabably doesnt bother you either. I guess thats the main difference for me. Even if I didnt plan on carrying a balance, its nice to know that I can should the need arise.  Another plus to the Black is that its going to be accepted at more places than Amex.

My wallet:
***Amex BCE 3k***USAA Platinum Visa 12k***Barclays Apple 7500k***Veridian CU 10k***Discover It 10k***Bank of America 8k***Amex Zync***USAA Patinum MC 12k***Navy Federal 20k
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: Should I cancel my Visa Black Card?


Razeus wrote:

I'd keep it. Don't worry about what the forums think.  If the card works well for you and you don't mind the AF, so be it.  It's your wallet, and not ours.


Great advice, especially from a AMEX bigot (LOL).

 

Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Should I cancel my Visa Black Card?

I definately think you should keep the card! Don't worry about other peoples opinions. If its working for you just keep using it. you might also look at picking up an amex revolver such as Hilton or delta etc. Amex has very generous CLI policies and will likely be a good backup if you ever need one.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Established Contributor
Koop10010
Posts: 731
Registered: ‎02-15-2012
0

Re: Should I cancel my Visa Black Card?

The Amex Platinum is a better card than the Visa Black.  It comes with more benefits and a better rewards program for a slightly lower annual fee.  Amex charge cards can also have very high internal limits, so I wouldn't worry about losing spending power.  You should probably consider switching.  There can be some acceptance issues with Amex, but you could always just carry a backup Visa for those rare instances.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Contributor
DVH1980
Posts: 246
Registered: ‎08-24-2011
0

Re: Should I cancel my Visa Black Card?

[ Edited ]

@koop10010, I thought about saying the same thing but the OP never mentioned having an issue with the current reward or benefits offering with his Black card.  I guess it really comes down to if the OP thinks the Amex is worth having another INQ and hit to AAOA , for a few more benfits or points that he may or may not take advantage of anyways.

My wallet:
***Amex BCE 3k***USAA Platinum Visa 12k***Barclays Apple 7500k***Veridian CU 10k***Discover It 10k***Bank of America 8k***Amex Zync***USAA Patinum MC 12k***Navy Federal 20k
Established Contributor
Koop10010
Posts: 731
Registered: ‎02-15-2012
0

Re: Should I cancel my Visa Black Card?


DVH1980 wrote:

@koop10010, I thought about saying the same thing but the OP never mentioned having an issue with the current reward or benefits offering with his Black card.  I guess it really comes down to if the OP thinks the Amex is worth having another INQ and hit to AAOA , for a few more benfits or points that he may or may not take advantage of anyways.


It's true that he'd have to take another inquiry and a AAoA hit, so he may not want to switch right away, I don't know.  But, he is a heavy spender and he could be accumulating a lot of MR points that can be worth a lot more than the 1% cashback he's getting with the Black Card.  Personally, I would go ahead and make the switch unless the OP is planning a loan application in the near future.  I just want to let the OP know that there is a better card available for less money.  If he doesn't want to take the, probably pretty small, FICO hit to switch, that's fine.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Senior Contributor
youngandcreditwrthy
Posts: 6,213
Registered: ‎08-16-2012
0

Re: Should I cancel my Visa Black Card?

I'd go ahead and open the Amex Platinum, maybe they can waive the AF for the first year. I think that Amex would match your Visa Black, as far as the Amex 'hard limit' is concerned... If you end up liking Amex better, then you could cancel the Black.

Why not have both if possible though?! Lol :-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
JonStur
Posts: 905
Registered: ‎12-25-2010
0

Re: Should I cancel my Visa Black Card?

Unless he's planning on a major purchase in the near future, he might not might getting another inq. Dont let others opinions affect you. No one knows how hard you worked or what it took to get to your station in life.  Even if you did nothing, ignore someone who is willing to formutheirs negative opinion of you based on the credit card you pay with. By the way, I'm no snob, I feel this applies to someone paying with a Credit One card as well.


Starting Score: TU 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Regular Contributor
ACsteel
Posts: 236
Registered: ‎08-19-2012
0

Re: Should I cancel my Visa Black Card?

If the AF doesn't bother you, and you like it, then what is the ? :smileywink:


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New Member
urbancustoms
Posts: 10
Registered: ‎09-02-2012
0

Re: Should I cancel my Visa Black Card?

[ Edited ]

You all have provided plenty of good information to keep in mind. I agree with all of you. I plan to take another car loan by the end of the year so I think I will just stay clear of any inquiries for the rest of 2012 other than my car loan. 

 

Now that I know this forums exists I will definitely research here before making any future financial decisions.

 

Considering I now have the Visa Black, Chase, 53 Bank, BOA, Capital One, Discover and Macy's CC I think I will just steer free of any other cards for some time. Among all the cards I have roughly 38k credit limit, which I always stay under 30% utilization. 

 

Would it even be smart for me to open of any more CC's in the mere future? I already have 6 CC and one Department store card, which I feel is plenty. Not sure if their is a golden # to have.


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