cancel
Showing results for 
Search instead for 
Did you mean: 

Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?

tag
galahad15
Valued Contributor

Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?

Should I consider closing one or both of my 2 BuyPower WEMCs and applying for the new Cap1 Premier Dining Rewards WEMC?  The BuyPower card with the lowest APR is somewhere around 20% - 21% V.  I know that the APR range for the Premier Dining Rewards card is 14.99% - 23.99% V, so the difference is about 5% or so, assuming that Cap1 would hypothetically approve me for the lowest rate in the range.  Of course, if I was approved at the the highest rate in the range, there is mot much advantage to having a higher APR than I already have with the BuyPower card.  I don't have any current 3% dining cards, so the Premier Dining Rewards card could help fill that niche.  The BuyPower cards are really only used so that I can have the WEMC benefits and on a card that is AF-free.


Message 1 of 16
15 REPLIES 15
galahad15
Valued Contributor

Re: Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?

bump please?  Smiley Happy


Message 2 of 16
galahad15
Valued Contributor

Re: Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?

Actually on second thought, never mind & no worries; please disregard this thread...I don't want to risk inadvertently spooking my existing cc lenders in any way or risk any sort of AA, with a new app for this card.  Thanks


Message 3 of 16
Anonymous
Not applicable

Re: Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?

I would hang on to both for now and wait for Capital One to open up this new card for PC and just PC one of your existing cards to this. 

Message 4 of 16
SunriseEarth
Moderator Emeritus

Re: Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?


@Anonymous wrote:

I would hang on to both for now and wait for Capital One to open up this new card for PC and just PC one of your existing cards to this. 


AFAIK, the Cap One cobranded cards are all ineligible for PC or reallocation of CLs.  So OP would need to apply for the card if his only Cap One cards are the BuyPower CCs. 



Start: 619 (TU08, 9/2013) | Current: 809 (TU08, 3/05/24)
BofA CCR WMC $75000 | AMEX Cash Magnet $64000 | Discover IT $46000 | Disney Premier VS $43600 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Synchrony Premier $24,200 | Sony Card VS $23750 | GS Apple Card WEMC $22000 | WF Active Cash VS $18,000 | Jared Gold Card $16000 | FNBO Evergreen VS $15000 | Citi Custom Cash MC $14600 | Target MC $14500 | BMO Harris Cash Back MC $14000 | Amazon VS $12000 | Freedom Flex WEMC $10000 | Belk MC $10000 | Wayfair MC $4500 ~~
Message 5 of 16
Anonymous
Not applicable

Re: Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?


@SunriseEarth wrote:

@Anonymous wrote:

I would hang on to both for now and wait for Capital One to open up this new card for PC and just PC one of your existing cards to this. 


AFAIK, the Cap One cobranded cards are all ineligible for PC or reallocation of CLs.  So OP would need to apply for the card if his only Cap One cards are the BuyPower CCs. 


Good point; I had not thought of this. 

Message 6 of 16
Anonymous
Not applicable

Re: Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?

I mean , how much dining out do you actually do?  I think if its a certain amount you would be better served by other cards.  I do think closing your two buypowers would be worth it if you didnt have any points in there to cash out though.  What else is up galahad15?  Anything new on the horizon in the last few months any other APR reductions or new cards?

Message 7 of 16
B335is
Moderator Emeritus

Re: Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?

It's really only a helpful card if you're willing to spend then get a GM car. I honestly think I've put one swipe on it in three years. Generally speaking, rewards cards are not going to have the best APR and Cap1 is typically unlikely to lower it unlike Amex and BoA, so definitely a PIF card. If you're looking to carry a balance, CUs usually offer more competitive rates.
Message 8 of 16
galahad15
Valued Contributor

Re: Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?


@Anonymous wrote:

I mean , how much dining out do you actually do?  I think if its a certain amount you would be better served by other cards.  I do think closing your two buypowers would be worth it if you didnt have any points in there to cash out though.  What else is up galahad15?  Anything new on the horizon in the last few months any other APR reductions or new cards?


Dining spend can vary from month to month.  Sometimes a non-insignificant amount of spend, sometimes none, depends on the restaurant promotions being offered at the time I guess?  The Cash+ card (which also got a temporary 6-month APR reduction to 17.99% V) works very nicely with the 5% cashback of fast food and 2% on non-fastfood restaurants.  But ya other than a few recent CLIs on various cards -- FNBO cards are now $20k a piece and PACU is now $10k for example -- nothing really new planned in terms of trying to get new cards that I can think of.

 

Also it's really nice to see you posting here again on the forums btw, jfriend!  Smiley Happy  We missed you, lol  Smiley Happy


Message 9 of 16
galahad15
Valued Contributor

Re: Should I consider closing my BuyPower WEMCs and applying for the new Cap1 Premier Dining WEMC?


@B335is wrote:
It's really only a helpful card if you're willing to spend then get a GM car. I honestly think I've put one swipe on it in three years. Generally speaking, rewards cards are not going to have the best APR and Cap1 is typically unlikely to lower it unlike Amex and BoA, so definitely a PIF card. If you're looking to carry a balance, CUs usually offer more competitive rates.

Although I am rather fond of and enjoy looking at the Chevy Camaro, there is a very remote possibility that I may be interested in one later down the line at some point, although right now I am quite fond of my current Dodge Charger for now  Smiley Wink


Message 10 of 16
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.