topic Re: Replacing Cap One in Credit Cards

Replacing Cap One

Anonymous — Tue, 28 Feb 2012 16:46:43 GMT

After much thought and a recent interaction with Cap One I have decided to replace them with a better card. I do not have a Mastercard yet but Visa is also on the list. Amex and Discover I do not want any more of at this time.

Id really rather avoid Citi as there TY points dont seem to be right for me. BoA has been going crazy lately and I already have a card through them so probally not them either. Ive considered Chase but I have heard that they do not accept 2 apps within 6 months.

I would like a points/travel card that has no expiration or limit on points. Something I can use to gradually get a flight or travel credit. I have looked myself but the people in this forum have named cards that I havent even heard of before. Any ideas?

Re: Replacing Cap One

Platinum — Tue, 28 Feb 2012 17:12:06 GMT

@Anonymous wrote:
After much thought and a recent interaction with Cap One I have decided to replace them with a better card. I do not have a Mastercard yet but Visa is also on the list. Amex and Discover I do not want any more of at this time.

Id really rather avoid Citi as there TY points dont seem to be right for me. BoA has been going crazy lately and I already have a card through them so probally not them either. Ive considered Chase but I have heard that they do not accept 2 apps within 6 months.

I would like a points/travel card that has no expiration or limit on points. Something I can use to gradually get a flight or travel credit. I have looked myself but the people in this forum have named cards that I havent even heard of before. Any ideas?

I applied and was approved for 3 new accounts with Chase in less then 2 months.

Re: Replacing Cap One

espnjunkie — Tue, 28 Feb 2012 17:22:31 GMT

Haha do you really need anymore credit Tanner?

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 18:26:51 GMT

@espnjunkie wrote:
Haha do you really need anymore credit Tanner?

Lol probally not. I just have a feeling if one goes I must replace it. Ill keep what I have for the time being.

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 18:45:20 GMT

The Barclay Rewards Mastercard looks very promising. Barclayclay cards seems fairly easy to obtain and they are generous with credit limits. Additionally, in the event your declined most forum members have had success with calling their backdoor number for a reconsider.

https://www.barclaycardus.com/apply/Landing.action?campaignId=1583&cellNumber=8&referrerid=BCUSORGOG

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 18:51:00 GMT

I thought Barclays was subprime? Im looking for something like a MC World/Visa Sig. I dont really want a limit under 5K. Looking into Chase's cards with UA/CO or Hyatt. Both of those seem like that will fit my needs.

Re: Replacing Cap One

espnjunkie — Tue, 28 Feb 2012 19:30:38 GMT

how much credit do you need? Cancelling your journey card will have no impact whatsoever on your profile. I figure if you want to get the most out of your rewards then pick one or two cards and use them for everything instead of spreading charges out across many cards. Your AMEX charge cards plus the chase sapphire are more than enough to cover your personal expenses each month and get you rewards. If you aren't carrying balances and are always paying in full there isn't much need to seek more credit.

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 19:38:35 GMT

Barclays is Prime...I remember on the phone while activating my card the CSR said my rate will vary with the prime rate....And I feel the same on replacing a card after you close one

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 19:54:29 GMT

@espnjunkie wrote:
how much credit do you need? Cancelling your journey card will have no impact whatsoever on your profile. I figure if you want to get the most out of your rewards then pick one or two cards and use them for everything instead of spreading charges out across many cards. Your AMEX charge cards plus the chase sapphire are more than enough to cover your personal expenses each month and get you rewards. If you aren't carrying balances and are always paying in full there isn't much need to seek more credit.

Well I just get this feeling if one goes away I need something to replace it. Weird I know. Its just that Visa/MC are accepted nearly everywhere including overseas. I dont carry a balance but sometimes I will report a high amount and then pay it off if I cant pay before the statement cuts. This drives uti up and charge cards only make it worse. I know I shouldnt be concerned about loosing a 750 line but its just that weird feeling of loosing a card with nothing to replace it.

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 20:15:39 GMT

I think Chase Freedom would be a great choice espcially with the $300 cash back bonus

Re: Replacing Cap One

espnjunkie — Tue, 28 Feb 2012 20:16:48 GMT

You have multiple AMEX accounts, a discover account, a chase sapphire account, a capital one account and a jp morgan slect account. That's enough credit to do whatever you would need to with. Utilization is not factored into to your credit score with chrage cards under newer scoring models. You have more than enough credit to be able to cover any sort of expenses you might encounter. Having more cards ends up being harder to keep track of because you are dealing with different lenders, websites, systems, customer service, etc. You have reached primeville and can sit back and garden. At this point your biggest concern is not really so much as what you should apply for or get, but rather making sure you pay on time for each of the different accounts. It's all too easy to let one due date slide by without noticing and damaging your scores. At this point your goal shoul be to just maintain what you have. At the end of the day credit is just a form of payment to purchase things and it doesn't matter what card you have. Once you have enough credit perhaps focus on another aspect of your life, business or whatever else.

Re: Replacing Cap One

bichonmom — Tue, 28 Feb 2012 20:18:02 GMT

Barclay's is prime, but you might want to talk to some local CUs. They tend to have better interest rates and IMO, it's helpful if you have an established relationship with one for bigger loans like auto and mortgages. I was lucky to get in with Navy, but also have a CC with a local CU, as well.

Maybe get a Visa with one and a MC with the other.

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 20:41:25 GMT

@espnjunkie wrote:
You have multiple AMEX accounts, a discover account, a chase sapphire account, a capital one account and a jp morgan slect account. That's enough credit to do whatever you would need to with. Utilization is not factored into to your credit score with chrage cards under newer scoring models. You have more than enough credit to be able to cover any sort of expenses you might encounter. Having more cards ends up being harder to keep track of because you are dealing with different lenders, websites, systems, customer service, etc. You have reached primeville and can sit back and garden. At this point your biggest concern is not really so much as what you should apply for or get, but rather making sure you pay on time for each of the different accounts. It's all too easy to let one due date slide by without noticing and damaging your scores. At this point your goal shoul be to just maintain what you have. At the end of the day credit is just a form of payment to purchase things and it doesn't matter what card you have. Once you have enough credit perhaps focus on another aspect of your life, business or whatever else.

as long as you have a spreadsheet and check off wjhen the bill is due is not hard to keep up with a couple of dozen cards, I personally make sure I pay atleast the mninmun when the statement cuts even if he was late as long as its not 30 days late would not show up on cc report however I guess an issuer could do AA

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 20:56:49 GMT

@Anonymous wrote:
@espnjunkie wrote:
You have multiple AMEX accounts, a discover account, a chase sapphire account, a capital one account and a jp morgan slect account. That's enough credit to do whatever you would need to with. Utilization is not factored into to your credit score with chrage cards under newer scoring models. You have more than enough credit to be able to cover any sort of expenses you might encounter. Having more cards ends up being harder to keep track of because you are dealing with different lenders, websites, systems, customer service, etc. You have reached primeville and can sit back and garden. At this point your biggest concern is not really so much as what you should apply for or get, but rather making sure you pay on time for each of the different accounts. It's all too easy to let one due date slide by without noticing and damaging your scores. At this point your goal shoul be to just maintain what you have. At the end of the day credit is just a form of payment to purchase things and it doesn't matter what card you have. Once you have enough credit perhaps focus on another aspect of your life, business or whatever else.

as long as you have a spreadsheet and check off wjhen the bill is due is not hard to keep up with a couple of dozen cards, I personally make sure I pay atleast the mninmun when the statement cuts even if he was late as long as its not 30 days late would not show up on cc report however I guess an issuer could do AA

While it may seem like enough to many, I run bus expenses through these cards. I do believe ill hold for another 4-6 months then recheck. Its easy to handle my cards as I pay once a week normally.

Thank you everyone for the helpful suggestions!

Re: Replacing Cap One

espnjunkie — Tue, 28 Feb 2012 21:14:14 GMT

Why don't you get a business credit card for those purposes? It makes your life alot easier and you can separate expenses easier. Centurion doesn't give you a high enough limit either?

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 21:33:16 GMT

@espnjunkie wrote:
Why don't you get a business credit card for those purposes? It makes your life alot easier and you can separate expenses easier. Centurion doesn't give you a high enough limit either?

Cent is not a visa or mc. Im good in the Amex dept.

Re: Replacing Cap One

espnjunkie — Tue, 28 Feb 2012 21:36:07 GMT

Chase Sapphire Preferred, JP Morgan Select and Discover Miles are not enough?

Re: Replacing Cap One

Anonymous — Tue, 28 Feb 2012 21:39:17 GMT

@espnjunkie wrote:
Chase Sapphire Preferred, JP Morgan Select and Discover Miles are not enough?

Disc has almost no acceptance in Europe. Maybe it would be better to ask for a cli instead on sapphire. Out of the 3 its the one thats most used. Im paying once a week so that it doesnt hit its limit. Even though its a sig im not sure how much above the limit Chase would approve so I keep it under.

Re: Replacing Cap One

LS2982 — Tue, 28 Feb 2012 21:40:08 GMT

@espnjunkie wrote:
You have multiple AMEX accounts, a discover account, a chase sapphire account, a capital one account and a jp morgan slect account. That's enough credit to do whatever you would need to with. Utilization is not factored into to your credit score with chrage cards under newer scoring models. You have more than enough credit to be able to cover any sort of expenses you might encounter. Having more cards ends up being harder to keep track of because you are dealing with different lenders, websites, systems, customer service, etc. You have reached primeville and can sit back and garden. At this point your biggest concern is not really so much as what you should apply for or get, but rather making sure you pay on time for each of the different accounts. It's all too easy to let one due date slide by without noticing and damaging your scores. At this point your goal shoul be to just maintain what you have. At the end of the day credit is just a form of payment to purchase things and it doesn't matter what card you have. Once you have enough credit perhaps focus on another aspect of your life, business or whatever else.

Re: Replacing Cap One

Anonymous — Wed, 29 Feb 2012 02:55:29 GMT

I think the Chase Freedom M/C would be a good choice especially because you can transfer points to your Sapphire account to combine and redeem faster. That is what I do with mine. I would not worry about having so many "eggs in one basket" with Chase. I have two cards and my car loan through them, so I don't think three products would be a big deal in your case. Citi is much better with limit increases (soft instead of hard every time with Chase), and generally I have seen them give large limits in comparison to others. Just sayin'! In regards to people saying you have too much credit, I disagree lol. My recently added Gold PR AMEX makes 11 and I'm 23. I assume I'll garden over the years to come, but still have other cards on my wish list. You should have another MasterCard for sure, I like the OnePass as well. That silver logo is nice!!! Good luck.