Close Cap 1 and reopen

ecxpa · ‎12-07-2014

I'm getting killed with AF from Cap 1 for 5 cards that transitioned from HSBC and Orchard Bank.......can't get CLI's on these cards since I have been rebuilding and have a ton of inquiries.......they won't waive the AF. I was thinking about dumping all the current cards and trying to start over with Cap1 with a Venture Card since I have a lot of prime cards now. Anybody ever closed out Cap 1 cards with AF and get one without an AF?

OffToBetterStart · ‎12-08-2014

I have closed out a QS one and then got approved for Venture one but as usuall credit is YMMV..

NFCU Cash Rewards $10,000 -Cap 1 Venture $10,750 - Care Credit $7,000 - Cap 1 Quicksilver $5,000 - Cap 1 Venture 1 $5,000 - Barclays Arrival $6,150 - Barclay Rewards $3,190 -Cap 1 Quicksilver $6,000 - Walmart $700
BK7 Discharge 1/04/2013
Current Scores EX (657) EQ (671) TU (644)

Anonymous · ‎12-08-2014

@OffToBetterStart wrote:
I have closed out a QS one and then got approved for Venture one but as usuall credit is YMMV..

Once I break ~720 EQ FICO, I plan on closing out my QS Visa, making use of a meat locker (hehe) and reapping for a Venture for the 40K bonus.

OffToBetterStart · ‎12-08-2014

I cant wait to get to 700 fico period.. I was gonna go for venture but i am tired of annual fees.

NFCU Cash Rewards $10,000 -Cap 1 Venture $10,750 - Care Credit $7,000 - Cap 1 Quicksilver $5,000 - Cap 1 Venture 1 $5,000 - Barclays Arrival $6,150 - Barclay Rewards $3,190 -Cap 1 Quicksilver $6,000 - Walmart $700
BK7 Discharge 1/04/2013
Current Scores EX (657) EQ (671) TU (644)

ecxpa · ‎12-08-2014

@OffToBetterStart wrote:
I cant wait to get to 700 fico period.. I was gonna go for venture but i am tired of annual fees.

That's my problem with Cap1........5 cards and 5 AF.......been holding on to them because of age but I have prime cards now with no AF and decent CL. As I said these are all transitioned cards. Have apped for new Cap 1 products and get turned down due to new credit and inquiries yet I am still able to get prime cards. I'm getting tired of annual fees. I may keep 2 of the cards one has a CL of 4250, and the other 2K, I have 2 others with 1K, and one with a paltry $700. I have heard cards with low limits actually hurt your score, can't find solid data on this though. But I know these CL are not what one would expect after 7-12 years. As of today my EQ 717, TU 744, Exp 747, I would consider these decent scores at the least.

OffToBetterStart · ‎12-08-2014

Those scores are better then mine by far . I would contact the EO for sure. What i did was closed my lower card which had a 1k limit on it and then a month later checked the prequal and sure enough there was 3 offers for me. I would contact EO to get rid of the fees forever thats the only way i got anything done at cap 1. But i encourage you to contact EO. Sorry for some reason i cant quote. PM sent ecxpa!

NFCU Cash Rewards $10,000 -Cap 1 Venture $10,750 - Care Credit $7,000 - Cap 1 Quicksilver $5,000 - Cap 1 Venture 1 $5,000 - Barclays Arrival $6,150 - Barclay Rewards $3,190 -Cap 1 Quicksilver $6,000 - Walmart $700
BK7 Discharge 1/04/2013
Current Scores EX (657) EQ (671) TU (644)

SunriseEarth · ‎12-08-2014

@ecxpa wrote:
@OffToBetterStart wrote:
I cant wait to get to 700 fico period.. I was gonna go for venture but i am tired of annual fees.
That's my problem with Cap1........5 cards and 5 AF.......been holding on to them because of age but I have prime cards now with no AF and decent CL. As I said these are all transitioned cards. Have apped for new Cap 1 products and get turned down due to new credit and inquiries yet I am still able to get prime cards. I'm getting tired of annual fees. I may keep 2 of the cards one has a CL of 4250, and the other 2K, I have 2 others with 1K, and one with a paltry $700. I have heard cards with low limits actually hurt your score, can't find solid data on this though. But I know these CL are not what one would expect after 7-12 years. As of today my EQ 717, TU 744, Exp 747, I would consider these decent scores at the least.

I think that's a good idea. Keep (and work) the CCs with the most promise and close the rest. There's nothing wrong with pruning a bit. But definitely contact the EO to get what you want out of your two "keepers"