What to do with Cap One?

[mum4519]

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!

[jsucool76]

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 :-)

[mum4519]

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?

[jsucool76]

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.

[mum4519]

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.

[mum4519]

It was definitely my rebuilder card out of college.

[CruzImperial]

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

[jsucool76]

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