topic Re: Decision On Overstock Card in Credit Cards

Decision On Overstock Card [Closed]

CreditMagic7 — Fri, 05 Feb 2016 20:41:40 GMT

I'm looking for some basic collective consensus on this card. As many of you i was tickled pink when approved for it (like many other cards) with a $3K SL that is reached a peak now of $6500. Ok, i've made use of it only occasionally since the start but completely overlooked during that time that my Synchrony Ebates Visa (Cash Back) card also includes the Overstock online store in their massive list of retailers and so i really can't see any real benefit of keeping it anymore due to little use given Ebates has it covered and without the O-rewards annual membership fee.

Mot of you will say if you don't use it just get rid of it and i understand that but at what point, if any, is it best to close this card. It's coming up on 1 full year reporting. Does it make any difference if you close it before 1 year or doesn't really matter anyway?

Re: Decision On Overstock Card

Anonymous — Thu, 04 Feb 2016 20:36:54 GMT

I've had my Overstock since July and started at 4800.00 and now at 6600.00 and it will be closed before the end of March. I too was tickled pink at the SL and a SP! You are right about Ebates, a much better card, cash back, Visa as well. I only use Overstock now, when I want a CLI to report. It's not worth it to me, and now it won't impact my utlization. I closed 3 accounts Brylane Home, Sunglass Hut and Newegg and there was no negative impact on my reports. While these cards were 7 months old, when I merged Cap One accounts, they still are appearing on my CR but just closed and no impact whatsoever.

@CreditMagic7 wrote:
I'm looking for some basic collective consensus on this card. As many of you i was tickled pink when approved for it (like many other cards) with a $3K SL that is reached a peak now of $6500. Ok, i've made use of it only occasionally since the start but completely overlooked during that time that my Synchrony Ebates Visa (Cash Back) card also includes the Overstock online store in their massive list of retailers and so i really can't see any real benefit of keeping it anymore due to little use given Ebates has it covered and without the O-rewards annual membership fee.

Mot of you will say if you don't use it just get rid of it and i understand that but at what point, if any, is it best to close this card. It's coming up on 1 full year reporting. Does it make any difference if you close it before 1 year or doesn't really matter anyway?

Re: Decision On Overstock Card

CreditMagic7 — Thu, 04 Feb 2016 20:56:23 GMT

@Anonymous wrote:
I've had my Overstock since July and started at 4800.00 and now at 6600.00 and it will be closed before the end of March. I too was tickled pink at the SL and a SP! You are right about Ebates, a much better card, cash back, Visa as well. I only use Overstock now, when I want a CLI to report. It's not worth it to me, and now it won't impact my utlization. I closed 3 accounts Brylane Home, Sunglass Hut and Newegg and there was no negative impact on my reports. While these cards were 7 months old, when I merged Cap One accounts, they still are appearing on my CR but just closed and no impact whatsoever.
@CreditMagic7 wrote:
I'm looking for some basic collective consensus on this card. As many of you i was tickled pink when approved for it (like many other cards) with a $3K SL that is reached a peak now of $6500. Ok, i've made use of it only occasionally since the start but completely overlooked during that time that my Synchrony Ebates Visa (Cash Back) card also includes the Overstock online store in their massive list of retailers and so i really can't see any real benefit of keeping it anymore due to little use given Ebates has it covered and without the O-rewards annual membership fee.

Mot of you will say if you don't use it just get rid of it and i understand that but at what point, if any, is it best to close this card. It's coming up on 1 full year reporting. Does it make any difference if you close it before 1 year or doesn't really matter anyway?

Thanks Roseyk

I been trying to find a way to justify holding on to it but nothing adds up close since Ebates Visa has the corner on overstock as a retailer too. That variable percentage (changes from time to time) Cash Back buying from them with Ebates IMO just simply overtakes and outweighs any benefit the store card offers.

Since it seems it's ok to just close it before a 1 year mark i guess i'll do just that next week. I mean all my other Comenity cards are doing just fine and are at acceptable limits too.

Re: Decision On Overstock Card

Anonymous — Thu, 04 Feb 2016 23:15:37 GMT

@CreditMagic7 wrote:
@Anonymous wrote:
I've had my Overstock since July and started at 4800.00 and now at 6600.00 and it will be closed before the end of March. I too was tickled pink at the SL and a SP! You are right about Ebates, a much better card, cash back, Visa as well. I only use Overstock now, when I want a CLI to report. It's not worth it to me, and now it won't impact my utlization. I closed 3 accounts Brylane Home, Sunglass Hut and Newegg and there was no negative impact on my reports. While these cards were 7 months old, when I merged Cap One accounts, they still are appearing on my CR but just closed and no impact whatsoever.
@CreditMagic7 wrote:
I'm looking for some basic collective consensus on this card. As many of you i was tickled pink when approved for it (like many other cards) with a $3K SL that is reached a peak now of $6500. Ok, i've made use of it only occasionally since the start but completely overlooked during that time that my Synchrony Ebates Visa (Cash Back) card also includes the Overstock online store in their massive list of retailers and so i really can't see any real benefit of keeping it anymore due to little use given Ebates has it covered and without the O-rewards annual membership fee.

Mot of you will say if you don't use it just get rid of it and i understand that but at what point, if any, is it best to close this card. It's coming up on 1 full year reporting. Does it make any difference if you close it before 1 year or doesn't really matter anyway?

Thanks Roseyk
I been trying to find a way to justify holding on to it but nothing adds up close since Ebates Visa has the corner on overstock as a retailer too. That variable percentage (changes from time to time) Cash Back buying from them with Ebates IMO just simply overtakes and outweighs any benefit the store card offers.

Since it seems it's ok to just close it before a 1 year mark i guess i'll do just that next week. I mean all my other Comenity cards are doing just fine and are at acceptable limits too.

CreditMagic7. When a card weighs on your mind and there really isn't a justification to keep it, closing it is the best decision. I have decided to close Walmart, just after I got it to 10K. My Ebates, Stash, Sams Club MC and PayPal Extra MC are far more valuable to me and I much rather get increases on those cards, then to tie up 10k with a store card. I can always use Sams at Walmart. While I love Ebates, the cash back for PayPal Extras is great as well.

Re: Decision On Overstock Card

CreditMagic7 — Thu, 04 Feb 2016 23:27:57 GMT

@Anonymous wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
I've had my Overstock since July and started at 4800.00 and now at 6600.00 and it will be closed before the end of March. I too was tickled pink at the SL and a SP! You are right about Ebates, a much better card, cash back, Visa as well. I only use Overstock now, when I want a CLI to report. It's not worth it to me, and now it won't impact my utlization. I closed 3 accounts Brylane Home, Sunglass Hut and Newegg and there was no negative impact on my reports. While these cards were 7 months old, when I merged Cap One accounts, they still are appearing on my CR but just closed and no impact whatsoever.
@CreditMagic7 wrote:
I'm looking for some basic collective consensus on this card. As many of you i was tickled pink when approved for it (like many other cards) with a $3K SL that is reached a peak now of $6500. Ok, i've made use of it only occasionally since the start but completely overlooked during that time that my Synchrony Ebates Visa (Cash Back) card also includes the Overstock online store in their massive list of retailers and so i really can't see any real benefit of keeping it anymore due to little use given Ebates has it covered and without the O-rewards annual membership fee.

Mot of you will say if you don't use it just get rid of it and i understand that but at what point, if any, is it best to close this card. It's coming up on 1 full year reporting. Does it make any difference if you close it before 1 year or doesn't really matter anyway?

Thanks Roseyk
I been trying to find a way to justify holding on to it but nothing adds up close since Ebates Visa has the corner on overstock as a retailer too. That variable percentage (changes from time to time) Cash Back buying from them with Ebates IMO just simply overtakes and outweighs any benefit the store card offers.

Since it seems it's ok to just close it before a 1 year mark i guess i'll do just that next week. I mean all my other Comenity cards are doing just fine and are at acceptable limits too.
CreditMagic7. When a card weighs on your mind and there really isn't a justification to keep it, closing it is the best decision. I have decided to close Walmart, just after I got it to 10K. My Ebates, Stash, Sams Club MC and PayPal Extra MC are far more valuable to me and I much rather get increases on those cards, then to tie up 10k with a store card. I can always use Sams at Walmart. While I love Ebates, the cash back for PayPal Extras is great as well.

I know. I really am completely satisfied with PayPal MC, Ebates Visa, and of corse Sam's Club just as they are. As you already know a new nice increase just came thru on Ebates Visa recently and my Sam's Club MC is $10K and PayPay MC at $8K. Anything extra Synchrony want to add to those is fine.

On the store side both Amazon & Walmart cards are at $6K respectively and the CLI's have stopped right there on those but also is OK. Although i do use the Amazon Card a lot, Ebates Visa has that one and Walmart covered too so it's just a matter of what percentage of utility you're comfortable with too whether or not to let them go as well.

After all on this end it took a long enough time for me to finally work those store limits up to where they are now and i can't stomach wasting all that effort just yet after putting the energy into it.

Re: Decision On Overstock Card

Anonymous — Fri, 05 Feb 2016 00:04:59 GMT

I shut down my Overstock at 6 months. Cost the same as a HP in points, 3-5 on EQ and EX but peace of mind was worth it. Now down to only 2 store cards and feel fabulous.

Re: Decision On Overstock Card

Anonymous — Fri, 05 Feb 2016 00:39:53 GMT

@CreditMagic7 wrote:
@Anonymous wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
I've had my Overstock since July and started at 4800.00 and now at 6600.00 and it will be closed before the end of March. I too was tickled pink at the SL and a SP! You are right about Ebates, a much better card, cash back, Visa as well. I only use Overstock now, when I want a CLI to report. It's not worth it to me, and now it won't impact my utlization. I closed 3 accounts Brylane Home, Sunglass Hut and Newegg and there was no negative impact on my reports. While these cards were 7 months old, when I merged Cap One accounts, they still are appearing on my CR but just closed and no impact whatsoever.
@CreditMagic7 wrote:
I'm looking for some basic collective consensus on this card. As many of you i was tickled pink when approved for it (like many other cards) with a $3K SL that is reached a peak now of $6500. Ok, i've made use of it only occasionally since the start but completely overlooked during that time that my Synchrony Ebates Visa (Cash Back) card also includes the Overstock online store in their massive list of retailers and so i really can't see any real benefit of keeping it anymore due to little use given Ebates has it covered and without the O-rewards annual membership fee.

Mot of you will say if you don't use it just get rid of it and i understand that but at what point, if any, is it best to close this card. It's coming up on 1 full year reporting. Does it make any difference if you close it before 1 year or doesn't really matter anyway?

Thanks Roseyk
I been trying to find a way to justify holding on to it but nothing adds up close since Ebates Visa has the corner on overstock as a retailer too. That variable percentage (changes from time to time) Cash Back buying from them with Ebates IMO just simply overtakes and outweighs any benefit the store card offers.

Since it seems it's ok to just close it before a 1 year mark i guess i'll do just that next week. I mean all my other Comenity cards are doing just fine and are at acceptable limits too.
CreditMagic7. When a card weighs on your mind and there really isn't a justification to keep it, closing it is the best decision. I have decided to close Walmart, just after I got it to 10K. My Ebates, Stash, Sams Club MC and PayPal Extra MC are far more valuable to me and I much rather get increases on those cards, then to tie up 10k with a store card. I can always use Sams at Walmart. While I love Ebates, the cash back for PayPal Extras is great as well.
I know. I really am completely satisfied with PayPal MC, Ebates Visa, and of corse Sam's Club just as they are. As you already know a new nice increase just came thru on Ebates Visa recently and my Sam's Club MC is $10K and PayPay MC at $8K. Anything extra Synchrony want to add to those is fine.
On the store side both Amazon & Walmart cards are at $6K respectively and the CLI's have stopped right there on those but also is OK. Although i do use the Amazon Card a lot, Ebates Visa has that one and Walmart covered too so it's just a matter of what percentage of utility you're comfortable with too whether or not to let them go as well.

After all on this end it took a long enough time for me to finally work those store limits up to where they are now and i can't stomach wasting all that effort just yet after putting the energy into it.

I do recall your increases which were great. I recall many saying that there is a 100K cap with Synchrony and I do have Care Credit, Belks, Walmart and Amazon and Chevron all with fantastic limits. I may have a window of 25K divided into the 4 cards that I really enjoy. I need to reduce my limits on Amazon and care credit and close Walmart and I will have more wiggle room. I do know what you mean regarding putting so much work in building some cards. But I would be sick to be denied a increase on Ebates or be given a small CLI because of my CL with Walmart. And yes utilization is always a consideration, I'm constantly crunching number, always, lol! Managing my credit is becoming a full time job. 😂😂.

Re: Decision On Overstock Card

CreditMagic7 — Fri, 05 Feb 2016 00:58:56 GMT

@Anonymous wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
@CreditMagic7 wrote:
@Anonymous wrote:
I've had my Overstock since July and started at 4800.00 and now at 6600.00 and it will be closed before the end of March. I too was tickled pink at the SL and a SP! You are right about Ebates, a much better card, cash back, Visa as well. I only use Overstock now, when I want a CLI to report. It's not worth it to me, and now it won't impact my utlization. I closed 3 accounts Brylane Home, Sunglass Hut and Newegg and there was no negative impact on my reports. While these cards were 7 months old, when I merged Cap One accounts, they still are appearing on my CR but just closed and no impact whatsoever.
@CreditMagic7 wrote:
I'm looking for some basic collective consensus on this card. As many of you i was tickled pink when approved for it (like many other cards) with a $3K SL that is reached a peak now of $6500. Ok, i've made use of it only occasionally since the start but completely overlooked during that time that my Synchrony Ebates Visa (Cash Back) card also includes the Overstock online store in their massive list of retailers and so i really can't see any real benefit of keeping it anymore due to little use given Ebates has it covered and without the O-rewards annual membership fee.

Mot of you will say if you don't use it just get rid of it and i understand that but at what point, if any, is it best to close this card. It's coming up on 1 full year reporting. Does it make any difference if you close it before 1 year or doesn't really matter anyway?

Thanks Roseyk
I been trying to find a way to justify holding on to it but nothing adds up close since Ebates Visa has the corner on overstock as a retailer too. That variable percentage (changes from time to time) Cash Back buying from them with Ebates IMO just simply overtakes and outweighs any benefit the store card offers.

Since it seems it's ok to just close it before a 1 year mark i guess i'll do just that next week. I mean all my other Comenity cards are doing just fine and are at acceptable limits too.
CreditMagic7. When a card weighs on your mind and there really isn't a justification to keep it, closing it is the best decision. I have decided to close Walmart, just after I got it to 10K. My Ebates, Stash, Sams Club MC and PayPal Extra MC are far more valuable to me and I much rather get increases on those cards, then to tie up 10k with a store card. I can always use Sams at Walmart. While I love Ebates, the cash back for PayPal Extras is great as well.
I know. I really am completely satisfied with PayPal MC, Ebates Visa, and of corse Sam's Club just as they are. As you already know a new nice increase just came thru on Ebates Visa recently and my Sam's Club MC is $10K and PayPay MC at $8K. Anything extra Synchrony want to add to those is fine.
On the store side both Amazon & Walmart cards are at $6K respectively and the CLI's have stopped right there on those but also is OK. Although i do use the Amazon Card a lot, Ebates Visa has that one and Walmart covered too so it's just a matter of what percentage of utility you're comfortable with too whether or not to let them go as well.

After all on this end it took a long enough time for me to finally work those store limits up to where they are now and i can't stomach wasting all that effort just yet after putting the energy into it.
I do recall your increases which were great. I recall many saying that there is a 100K cap with Synchrony and I do have Care Credit, Belks, Walmart and Amazon and Chevron all with fantastic limits. I may have a window of 25K divided into the 4 cards that I really enjoy. I need to reduce my limits on Amazon and care credit and close Walmart and I will have more wiggle room. I do know what you mean regarding putting so much work in building some cards. But I would be sick to be denied a increase on Ebates or be given a small CLI because of my CL with Walmart. And yes utilization is always a consideration, I'm constantly crunching number, always, lol! Managing my credit is becoming a full time job. 😂😂.

You make a good point Roseyk

I caught wind of this when one of their credit solutions guys slipped while requesting a CLI to my PayPal MC where he asked me if i was requesting for the Walmart card

That right there told it all. They look all across your store cards with them too.

Re: Decision On Overstock Card

Anonymous — Fri, 05 Feb 2016 01:16:45 GMT

A positive account history can report up up 10 years on your credit

Re: Decision On Overstock Card

CreditMagic7 — Fri, 05 Feb 2016 01:23:00 GMT

@beautifulblaquepearl wrote:
A positive account history can report up up 10 years on your credit

............and that's what matters as well as when reviewed by some U/W seeing that limit "closed by consumer". Thanks.

I won't be posting the closing which will be either tomorrow or Monday but i'll slip it in other replies since it's not such that big a deal to open another topic about.

I'll just drop it in this one.

Re: Decision On Overstock Card

Anonymous — Fri, 05 Feb 2016 02:16:30 GMT

I don't think it makes any difference, but mine is on the chopping block at the one year mark. It and the Sportsmans Guide are both getting nuked.

Re: Decision On Overstock Card

Anonymous — Fri, 05 Feb 2016 02:17:53 GMT

@Anonymous wrote:
I don't think it makes any difference, but mine is on the chopping block at the one year mark. It and the Sportsmans Guide are both getting nuked.

I'm doing the exact same thing

Re: Decision On Overstock Card

elim — Fri, 05 Feb 2016 02:32:20 GMT

@Anonymous wrote:
@Anonymous wrote:
I don't think it makes any difference, but mine is on the chopping block at the one year mark. It and the Sportsmans Guide are both getting nuked.
I'm doing the exact same thing

+1 I'm killing mine at 2 years.

Re: Decision On Overstock Card

elim — Fri, 05 Feb 2016 02:39:34 GMT

looks like about 9 months before it goes...

Comenity Overstock

Oct-14

15.5

months

$6,400

0.0%

Revolving

Open

Re: Decision On Overstock Card

CreditMagic7 — Fri, 05 Feb 2016 03:35:19 GMT

Thanks guys and girls.

Looks we are all on equal footing where concerns this card. It might not be the 1 year history that i prefer to do before closing any card (short of an immediate or same day closure for various reasons) but for me it's better to drop it now while the limit is still showing good as well as in good standing albeit with only limited useage during this time.

Re: Decision On Overstock Card

CreditMagic7 — Fri, 05 Feb 2016 20:45:36 GMT

Thanks everyone for your input.

Now closed so that's another one less store card to have to deal with. It was a smooth and orderly procedure and the CSR even expressed some concern over it but i simply said it was of better financial benefit to use Visa/MC cards to shop overstock and garner up some cash back and she completely understood and thanked me for my business.

Re: Decision On Overstock Card

Anonymous — Fri, 05 Feb 2016 21:40:01 GMT

This calls for a Congrats to you! Many of us will be following suit.

Re: Decision On Overstock Card [Closed]

baller4life — Fri, 05 Feb 2016 22:11:10 GMT

Congrats Magic on the closure. I'm curious as to why there isn't more talk about the MC version thru FNBO. I'm considering this card. Is it not good?

Re: Decision On Overstock Card [Closed]

SunriseEarth — Fri, 05 Feb 2016 22:23:09 GMT

I will likely close my account, too. I only used it once for the special financing on a Dyson vacuum. Haven't used it since. I think their special financing threshold is too high to make it very useful (Amazon's $150 threshold is much more useful to me), and there really are no other perks to the card. I believe it hits the 2 year mark for me in December. Right now, it's really only useful as a zero balance account for me.

Re: Decision On Overstock Card [Closed]

CreditMagic7 — Fri, 05 Feb 2016 22:20:13 GMT

@baller4life wrote:
Congrats Magic on the closure. I'm curious as to why there isn't more talk about the MC version thru FNBO. I'm considering this card. Is it not good?

The Overstock FNBO Mastercard is what i tried for and wanted to begin with. They shot me down over 6 lousy INQ's at the time since i reconned the initial denial with that Dept. Ticked me off so bad i've never looked back at anything FNBO and still won't.