topic Re: Should I get rid of DoubleCash? in Credit Cards

Should I get rid of DoubleCash?

Anonymous — Fri, 22 Mar 2019 18:03:38 GMT

I'm a very recent convert to reward cards. Prior to a year ago, my card history was pretty much my Capital One Platinum that I've had for 10 years. So I decided to get the Double cash 1 year ago becuase that 2% back was miles ahead of what I was getting.

Then I found this forum and the wonders of travel rewards! And the arguably better value and perks if you know how to use them. So I Started with the Sapphire Preferred, intending to build out the trifecta. Then of course Amex released the revamped Gold Card,and I switched to MR. Which I now use almost exclusively, unless the merchant doesn't take Amex.

I keep the Preferred for overseas, and instances where I can't use Amex. I keep the CapOne to help my AAoA since it's by far my oldest card. But i'm wondering if there is really any point in keeping the DC?

Re: Should I get rid of DoubleCash?

JaseT — Fri, 22 Mar 2019 18:17:30 GMT

I want to add the Citi DoubleCash, so let me know the CL, condition of the card, and asking price!

Re: Should I get rid of DoubleCash?

Anonymous — Fri, 22 Mar 2019 18:22:14 GMT

If you have had it for 10 years, keep it. Just toss a charge at it every few months to keep it alive. Your AAoA won’t be immediately impacted by closing it - the card will remain for up to 10 years on your report but when it falls, you’re going to take an abrupt hit with the loss.

Re: Should I get rid of DoubleCash?

pinkandgrey — Fri, 22 Mar 2019 18:27:01 GMT

If you really don’t want or use the card, then I say close it. Personally I love the DC. It’s my main daily driver.

Re: Should I get rid of DoubleCash?

Anonymous — Fri, 22 Mar 2019 18:31:49 GMT

The Capital One i've had 10 years. Citi DC only a year.

And it's in great shape since I don't use it much, but crap SL of $1k that's never gone up.

Re: Should I get rid of DoubleCash?

wasCB14 — Fri, 22 Mar 2019 18:34:38 GMT

@Anonymous wrote:
If you have had it for 10 years, keep it. Just toss a charge at it every few months to keep it alive. Your AAoA won’t be immediately impacted by closing it - the card will remain for up to 10 years on your report but when it falls, you’re going to take an abrupt hit with the loss.

~~OP got it one year ago. The Capital One card is 10 years old.~~ (Started writing before OP followup.)

From a rewards standpoint, my DC is almost useless...but I use price rewind aggressively and having a second Citi card helps the nerfed annual benefit cap.

So using that feature would be one possible reason to keep the card.

Re: Should I get rid of DoubleCash?

Anonymous — Fri, 22 Mar 2019 20:11:38 GMT

Its a good card for spend that isn't in any bonus category, unless you have SUBs you need to meet. I (and wife) personally use the DC for Walmart...which is like 40% of my spend living in a small town. I think its a good card to have, even if it isn't used much. Once I graduate and get a huge salary increase, I was eyeing the Alliant card for the 2.5% CB after the first year...but Citi is a decent bank and the DC is a path to more interesting cards in their portfolio.

Its up to you though, if you don't use it at all and you have other cards, closing it now will have minimal impact (unlike that Cap1 Plat).

Side note, try to PC that Plat to a QS if possible. If you do close the DC and get the PC, you only "sacrificed" 0.5% as the QS earns 1.5% on er'y thing and it can be your non-cat spend card.

Re: Should I get rid of DoubleCash?

Anonymous — Fri, 22 Mar 2019 20:25:50 GMT

@Anonymous wrote:
The Capital One i've had 10 years. Citi DC only a year.

And it's in great shape since I don't use it much, but crap SL of $1k that's never gone up.

Somehow I misread, sorry.

Absolutely get rid of it if its not of any use to you. It’s not exactly a great card to begin with compared to other 2% options like the PayPal Cashback and the PenFed Cash Rewards (even though this one requires $500 in their checking) since both cards are known to have higher limits and they both have no FTF. A $1K SL that’s not moving anywhere? Meh.

I second the suggestion to PC that Capital One to a QS.

Re: Should I get rid of DoubleCash?

Anonymous — Fri, 22 Mar 2019 20:55:46 GMT

My original thought was to keep it for spend that didn't fit the Gold Card categories, but I've got the BBP now with 2MR/$, so that tends to be my non category card.

I'll just cancel it. I was thinking of keeping it in case Chase and Amex changed up things in a bad way and I decided to back to the cash back route. But I can always get again later if need be.

And I'll defintiely look into product changing that Platinum CapOne. It's also actually a decent SL of $7200. Just took them a decade to get there starting from $500!

Re: Should I get rid of DoubleCash?

Anonymous — Fri, 22 Mar 2019 20:59:26 GMT

Sounds like a plan!

You can go here and see if you have a QS product change offer.

https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

And yeah, Capital One can be a tough one. I’m still amazed my $500 5 years ago hit $8250 a year ago. Too bad it’s not a 2% card but I probably won’t ever close it. It’s 4 years older than my second oldest two cards.

Re: Should I get rid of DoubleCash?

Anonymous — Fri, 22 Mar 2019 21:22:50 GMT

I personally just PCed mine to the new Citi Rewards+ to pair with the Premier. I already have the fidelity visa so if I decided to go full cash back so I figured it was a no brainer.

Re: Should I get rid of DoubleCash?

RickNATL — Sat, 23 Mar 2019 00:35:30 GMT

I love the Citi DC CC...I don't use it for travel rewards, I used it for the cash rewards (gift cards, etc.). So many options out there....it's on u....

Re: Should I get rid of DoubleCash?

kerplunk — Sat, 23 Mar 2019 04:05:50 GMT

Citi Double Cash makes my life simple. 2% cash back on everything is great. 2 year extended warranty on anything I buy is a very nice perk as well. No annual fee. The card’s design is pretty nice as well. Just my two cents. I have the Chase Freedom Unlimited as well, but it seems stupid to use a 1.5% cash back card when I have a 2% cash back card.

Re: Should I get rid of DoubleCash?

Anonymous — Sat, 23 Mar 2019 05:02:57 GMT

It would be useful for non-categorial spending. That's what the unlimited cash back cards are for. I'd say keep the Double Cash and use it for things like utility bills or book store purchases, things like that.

Re: Should I get rid of DoubleCash?

CreditInspired — Sat, 23 Mar 2019 12:09:31 GMT

My DC is 2 yrs old and I rarely use it because I hate the $25 redemption. So just to keep it open I threw my Hulu, NYT, and cable subscriptions on it.

Re: Should I get rid of DoubleCash?

EAJuggalo — Sat, 23 Mar 2019 12:14:39 GMT

@kerplunk wrote:
Citi Double Cash makes my life simple. 2% cash back on everything is great. 2 year extended warranty on anything I buy is a very nice perk as well. No annual fee. The card’s design is pretty nice as well. Just my two cents. I have the Chase Freedom Unlimited as well, but it seems stupid to use a 1.5% cash back card when I have a 2% cash back card.

Do you have a CSP or CSR as well? I use the FU more than my DC because it's 1.5 UR for non category spend. I get around 2cpp from UR so it's a 3% card for me..

Re: Should I get rid of DoubleCash?

kdm31091 — Sat, 23 Mar 2019 13:16:36 GMT

The flip side is to consider your needs, spending, lifestyle, etc can and will change over time. Perhaps you will end up not traveling as much at some point. Perhaps travel rewards won't do you as much good and you won't be getting outsized value from your points. At that point, a straight 2% card would beat out UR / MR points because you wouldn't be getting extra value from them.

That said, if the card is truly not useful to you, I always support just closing it and moving on. You could always apply again down the road if your needs change significantly.

Re: Should I get rid of DoubleCash?

kerplunk — Sat, 23 Mar 2019 13:57:02 GMT

@EAJuggalo wrote:
@kerplunk wrote:
Citi Double Cash makes my life simple. 2% cash back on everything is great. 2 year extended warranty on anything I buy is a very nice perk as well. No annual fee. The card’s design is pretty nice as well. Just my two cents. I have the Chase Freedom Unlimited as well, but it seems stupid to use a 1.5% cash back card when I have a 2% cash back card.
@kerplunk wrote:
Citi Double Cash makes my life simple. 2% cash back on everything is great. 2 year extended warranty on anything I buy is a very nice perk as well. No annual fee. The card’s design is pretty nice as well. Just my two cents. I have the Chase Freedom Unlimited as well, but it seems stupid to use a 1.5% cash back card when I have a 2% cash back card.
Do you have a CSP or CSR as well? I use the FU more than my DC because it's 1.5 UR for non category spend. I get around 2cpp from UR so it's a 3% card for me..

Yes, CSR, but I never use URs, unfortunately.

Re: Should I get rid of DoubleCash?

Anonymous — Sun, 24 Mar 2019 08:19:01 GMT

@Anonymous wrote:
The Capital One i've had 10 years. Citi DC only a year.

And it's in great shape since I don't use it much, but crap SL of $1k that's never gone up.

Citi can be stingy with CLIs, at least that's been the case for me. It's frustrating being told my best option is to reapply for the card. I only hold on to it for the AAoA but I don't use as much as I used to.