topic Re: Will Cap1 CLD my card? in Credit Cards

Will Cap1 CLD my card?

Anonymous — Sun, 08 Mar 2015 05:09:26 GMT

Hi all!

I have 2 credit cards:

- 1 Quicksilver One (upgraded from Platinum MC in October/November 2014)
- 1 Quicksilver Visa Signature (I app'd for the Visa Siggy before I realized that I could upgrade my Platinum)

Anyway, I got these 2 cards before I started lurking on these forums and now I'm wishing I would have gone with the Citi Double Cash instead of my new Quicksilver. I don't want to close either card because the QSMC is my oldest account at 6 years and the QSVS is my highest limit card at $10,000 and I heard Citi DC gives out low CLs.

When/if I do get the DC, if I use that card for all of my purchases (since it is clearly superior to 1.5% CB), will Capital One CLD my 2 cards? I will, of course, put 1 small recurring payment on each card and auto-pay it in full every month.

I've looked around the forum and have noticed that Cap1 isn't really infamous for CLDs like some other banks are so I'm kind of hoping that if I do have at least one recurring purchase and payment on each card they will leave my credit limits alone.

Anyone have personal experience wit this type of situation?

Thanks in advance!

Re: Will Cap1 CLD my card?

happypill — Sun, 08 Mar 2015 06:14:18 GMT

I think people are too worried about AA from low usage. You're much more likely to get a CLD if you run up balances and pay minimum amounts, or miss payments. If you just have a small recurring payment, your account will likely just fly under the radar and maintain the same CL.

Where low usage might affect you is if you are seeking CLI. Some lenders like to see a lot of use paired with significant payments. If you barely use a card, some lenders will question why you need a higher limit.

Re: Will Cap1 CLD my card?

NRB525 — Sun, 08 Mar 2015 07:48:52 GMT

@Anonymous wrote:
Hi all!

I have 2 credit cards:

- 1 Quicksilver One (upgraded from Platinum MC in October/November 2014)
- 1 Quicksilver Visa Signature (I app'd for the Visa Siggy before I realized that I could upgrade my Platinum)

Anyway, I got these 2 cards before I started lurking on these forums and now I'm wishing I would have gone with the Citi Double Cash instead of my new Quicksilver. I don't want to close either card because the QSMC is my oldest account at 6 years and the QSVS is my highest limit card at $10,000 and I heard Citi DC gives out low CLs.

When/if I do get the DC, if I use that card for all of my purchases (since it is clearly superior to 1.5% CB), will Capital One CLD my 2 cards? I will, of course, put 1 small recurring payment on each card and auto-pay it in full every month.

I've looked around the forum and have noticed that Cap1 isn't really infamous for CLDs like some other banks are so I'm kind of hoping that if I do have at least one recurring purchase and payment on each card they will leave my credit limits alone.

Anyone have personal experience wit this type of situation?

Thanks in advance!

Is it clearly superior? Superior by how much actual cash dollars per year, based on all your spend? If you happen to take an overseas trip, CapOne has no foreign transaction fees. The Citi Double Cash is 3% per transaction. You have to look at the entire range of features of the card, and it becomes difficult to make a "clearly superior" determination.Situationally superior is more common these days.

What are your MyFICO scores? Based on the CL that CapOne just gave you, your scores are probably not bad.

Don't close the CapOne cards, they will be fine. You should be OK getting the Double Cash, and with only three cards, it is not likely you will see any AA, least of all from CapOne if you have a 6 year track record with them already anyway.

Re: Will Cap1 CLD my card?

SunriseEarth — Sun, 08 Mar 2015 10:01:30 GMT

@NRB525 wrote:
@Anonymous wrote:
Hi all!

I have 2 credit cards:

- 1 Quicksilver One (upgraded from Platinum MC in October/November 2014)
- 1 Quicksilver Visa Signature (I app'd for the Visa Siggy before I realized that I could upgrade my Platinum)

Anyway, I got these 2 cards before I started lurking on these forums and now I'm wishing I would have gone with the Citi Double Cash instead of my new Quicksilver. I don't want to close either card because the QSMC is my oldest account at 6 years and the QSVS is my highest limit card at $10,000 and I heard Citi DC gives out low CLs.

When/if I do get the DC, if I use that card for all of my purchases (since it is clearly superior to 1.5% CB), will Capital One CLD my 2 cards? I will, of course, put 1 small recurring payment on each card and auto-pay it in full every month.

I've looked around the forum and have noticed that Cap1 isn't really infamous for CLDs like some other banks are so I'm kind of hoping that if I do have at least one recurring purchase and payment on each card they will leave my credit limits alone.

Anyone have personal experience wit this type of situation?

Thanks in advance!
Is it clearly superior? Superior by how much actual cash dollars per year, based on all your spend? If you happen to take an overseas trip, CapOne has no foreign transaction fees. The Citi Double Cash is 3% per transaction. You have to look at the entire range of features of the card, and it becomes difficult to make a "clearly superior" determination.Situationally superior is more common these days.

What are your MyFICO scores? Based on the CL that CapOne just gave you, your scores are probably not bad.
Don't close the CapOne cards, they will be fine. You should be OK getting the Double Cash, and with only three cards, it is not likely you will see any AA, least of all from CapOne if you have a 6 year track record with them already anyway.

Excellent point. My DC was SDed until I had an emergency auto glass repair (only used as it has a 0% promo rate now). I'm actually much happier with my QS. It's much easier to redeem rewards and the CL is far more usable than DC's. I PIF generally, but my QS has a better rate than my DC, even though the rate is a leftover from its days as a Household Bank rebuilder. Plus, I also find Cap One's website and app a lot more reliable than Citi.

Anyway, back to the OP's question...Cap One isn't really known for CLDs for lack of use. However, if you do SD the Cap One cards, you could either put a small recurring charge on them or just make a small purchase every few months. Or you might wind up getting the Citi DC, growing as frustrated with Citi as I am, SD that card, and then use your QS for your general spend. You never know...

Re: Will Cap1 CLD my card?

taxi818 — Sun, 08 Mar 2015 11:43:27 GMT

Well don't know where you looked. Because in fact cap one rArely cld's why do you think people have 20 plus cards. Even me 17. 2 cap one. Just causing fear for yourself. If a bank closes my card for nonsense. Good riddance.

Re: Will Cap1 CLD my card?

JSS3 — Sun, 08 Mar 2015 12:06:58 GMT

No.

Re: Will Cap1 CLD my card?

KneelBeforeZod — Sun, 08 Mar 2015 12:15:03 GMT

They won't CLD you. CapOne doesn't scare easily...

Re: Will Cap1 CLD my card?

Anonymous — Fri, 10 Apr 2015 23:40:03 GMT

I made this exact thread in January as I'm in your situation with my QS and DC cards. Haven't used my QS much (I think 5 purchases since January, each less than $5) since January. Nothing bad has happened. My 6th statement is going to cut soon too. Actually might apply for a CLI too even though I don't need it haha.

Re: Will Cap1 CLD my card?

wacdenney — Fri, 10 Apr 2015 23:50:21 GMT

Good call. Clearly the DC is superior as is Fidelity AMEX. I never find myself in situations where I prefer 1.5% over 2%. I never really find myself in situations where I have a need to redeem $5 worth of rewards so the "easy" redemption doesn't mean much to me. I don't travel either, but if I were to I would likely choose a travel card over QS. One with an EMV chip likely.

As far as a CLD, Cap1 is not know to CLD at all. I wouldn't worry about it.

Does your QS! MC have an annual fee? If I were you, I would address that if it does.