Reply
Contributor
mum4519
Posts: 102
Registered: ‎08-05-2012
0

What to do with Cap One?

So I have No Hassle Rewards with a $500 limit (bumped up from $300 originally with an auto CLI) and just got a Cap One Green Cash Rewards (average credit) with a CL of $1,000. Both have annual fees of $39 (lame!) What should I do? My previous Cap One was opened last September. Other than these two cards I have a WF Rewards Card for $4,600.

Thanks!
- In My Wallet -

AMEX BCE $17,000
Wells Fargo Rewards $9,200
Chase Southwest VISA $5,200
Senior Contributor
jsucool76
Posts: 4,054
Registered: ‎12-11-2011
0

Re: What to do with Cap One?

Ask them if you can combine the limits. They might say no, but they might say yes, you never know with cap1. It seems pointless to pay that much in AFs. Also remember to check out perk central with the cash card :-)
;
Contributor
mum4519
Posts: 102
Registered: ‎08-05-2012
0

Re: What to do with Cap One?

I'm going to see if they combine but by looking on here it doesn't look like they do that anymore. That being said, what are some recommendations for me?
- In My Wallet -

AMEX BCE $17,000
Wells Fargo Rewards $9,200
Chase Southwest VISA $5,200
Senior Contributor
jsucool76
Posts: 4,054
Registered: ‎12-11-2011
0

Re: What to do with Cap One?

I personally would close the one with the lower limit before af gits if they wont waive it. It may be older but it will stay on your report for 10 years as a positice account. Depending on how many cards you have and what their limits are, if you have any balances you might take a util hit on your report. But 39$ for a 500 limit seems excessive to me.
;
Contributor
mum4519
Posts: 102
Registered: ‎08-05-2012
0

Re: What to do with Cap One?

Yea chances are I am going to see if they will waive the AF on the $500 and if not I will close it. My utilization with the $500 card will be about 4.05% and without it around 4.36% so really no difference at all. I just have had the card since last September so I didn't know what to do.
- In My Wallet -

AMEX BCE $17,000
Wells Fargo Rewards $9,200
Chase Southwest VISA $5,200
Contributor
mum4519
Posts: 102
Registered: ‎08-05-2012
0

Re: What to do with Cap One?

It was definitely my rebuilder card out of college.
- In My Wallet -

AMEX BCE $17,000
Wells Fargo Rewards $9,200
Chase Southwest VISA $5,200
Established Contributor
CruzImperial
Posts: 869
Registered: ‎07-04-2012
0

Re: What to do with Cap One?

[ Edited ]

They should give you a 50% AF deal when you are about to close your acc.

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Senior Contributor
jsucool76
Posts: 4,054
Registered: ‎12-11-2011
0

Re: What to do with Cap One?

They should just give you a $10,000 cli everytime you say the words "I want to close my account"
;

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}