Getting rid of low-end cards.

[Anonymous]

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@youdontkillmoney wrote:

My Cap One Quicksilver of $20,000 limit gives me FEE FREE balance transfers, the other cards you listed do not. 

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Mine does too. Too bad the Interest rate is 18.9%

[youdontkillmoney]

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@Anonymous wrote:

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@youdontkillmoney wrote:

My Cap One Quicksilver of $20,000 limit gives me FEE FREE balance transfers, the other cards you listed do not. 

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Mine does too. Too bad the Interest rate is 18.9%

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^^^^^^

Right. But you can  pay in full when it is due to avoid interest since the bal transfer is zero interest until after the statement closes ( bal trans treated like a purchase so interest does not kick in until stmnt close); so this buy you an extra month or so/delay in case there are cash flow timing issues.

[Anonymous]

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@youdontkillmoney wrote:

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@Anonymous wrote:

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@youdontkillmoney wrote:

My Cap One Quicksilver of $20,000 limit gives me FEE FREE balance transfers, the other cards you listed do not. 

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Mine does too. Too bad the Interest rate is 18.9%

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^^^^^^

Right. But you can  pay in full when it is due to avoid interest since the bal transfer is zero interest until after the statement closes ( bal trans treated like a purchase so interest does not kick in until stmnt close); so this buy you an extra month or so/delay in case there are cash flow timing issues.

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Cheaper than a payday loan for sure.

I for one thank god i've never had to subject myself to that.

[BeeH11]

I had a 2007 Honda Fit for 3 years. Bought it for $10k. Awesome gas milage and low, low maintaince. But it was a go cart. Decided to upgrade to a new VW Golf TDI. Sold thr Fit privately for $5k. Put over 60k miles on it. I was very happy with all that.

I got my Capital One card years after I got my AMEX. AMEX was actually the 2nd major credit card I got. The first major CC I got was a student Citi card. They kept increasing my limit (w/o me asking), then the market crashed and they closed my account. Not 1 missed payment or overage! I will never do business with Citi again.

However, back to the topic: I was going through my credit cards today and realized my Blue AMEX and Capital One are pretty useless. They give me crap rewards. In the next 2-4 months, I will be applying for better rewards cards. I will keep both open and proably use once in a blue moon b/c both of these cards contribute to my AAoA and they helped build my credit to what it is today.

[Kenny]

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@BeeH11 wrote:

I had a 2007 Honda Fit for 3 years. Bought it for $10k. Awesome gas milage and low, low maintaince. But it was a go cart. Decided to upgrade to a new VW Golf TDI. Sold thr Fit privately for $5k. Put over 60k miles on it. I was very happy with all that.

I got my Capital One card years after I got my AMEX. AMEX was actually the 2nd major credit card I got. The first major CC I got was a student Citi card. They kept increasing my limit (w/o me asking), then the market crashed and they closed my account. Not 1 missed payment or overage! I will never do business with Citi again.

However, back to the topic: I was going through my credit cards today and realized my Blue AMEX and Capital One are pretty useless. They give me crap rewards. In the next 2-4 months, I will be applying for better rewards cards. I will keep both open and proably use once in a blue moon b/c both of these cards contribute to my AAoA and they helped build my credit to what it is today.

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Easy! PC the Capital One to Quicksilver.. and your Amex Blue to Blue Cash or something more valuable. Good luck!

[SunriseEarth]

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@Kenny wrote:

Moved this to Smorgasboard. If anyone actually reads the first post and does NOT think that it needs to be in Smorgasboard, then I'm insane.

To answer JoshNurse's question: only you can decide whether or not you should keep a card open. If you feel like the card is below the standard that you keep for yourself, then by all means close it.

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Well, it's basically a new spin on the old "Crapital One" rant, so it qualifies to be here.   

[Anonymous]

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@JoshNurse wrote:

To me an American Express Centrion is a Bugatti. An American Express Platinum is a Ferrari 458.  American Express Gold Premium Rewards card would be an Audi S4. Chase Saphire Preffered would be a 2014 BMW 335i M-Sport Edition.

A Capital One Quick sliver feels like cardboard and looks very cheap, I would cringe and get embarrased if I ever used this in public.  Capital One Quick Silver is equal to a used 2012 Honda Fit with 58,900 miles and transmission problems.  

My question is do I get rid of all the Honda Fit tierd cards in my inventory?  Will it hurt my credit?

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When I see a bugatti or a ferrari i think what a fun car. I totally do not form an opinion that their driver is a good or a bad person. I also do not think that bugatti or ferrari will be my friends when i need to go on the dusty backcountry roads that sometimes life takes us on.  

I also started with a Capital One card -- back when i was new to this country and had 0 credit. I have always kept it due to their loyalty to me plus it costs me nothing and just ages my credit history. But now I will use it even more to weed out the people who value me for the credit cards i do own rather than the person that I am. If I ever retire it, I might even frame it in the style of the first dollar ever earned that many (rich, successful and famous) people tend to have. 

Edit: Oh and I am not at all embarassed that I started from nothing. I would be embarassed if I judged people on their credit card...

[pipeguy]

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@Anonymous wrote:

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@JoshNurse wrote:

To me an American Express Centrion is a Bugatti. An American Express Platinum is a Ferrari 458.  American Express Gold Premium Rewards card would be an Audi S4. Chase Saphire Preffered would be a 2014 BMW 335i M-Sport Edition.

A Capital One Quick sliver feels like cardboard and looks very cheap, I would cringe and get embarrased if I ever used this in public.  Capital One Quick Silver is equal to a used 2012 Honda Fit with 58,900 miles and transmission problems.  

My question is do I get rid of all the Honda Fit tierd cards in my inventory?  Will it hurt my credit?

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When I see a bugatti or a ferrari i think what a fun car. I totally do not form an opinion that their driver is a good or a bad person. I also do not think that bugatti or ferrari will be my friends when i need to go on the dusty backcountry roads that sometimes life takes us on.  

I also started with a Capital One card -- back when i was new to this country and had 0 credit. I have always kept it due to their loyalty to me plus it costs me nothing and just ages my credit history. But now I will use it even more to weed out the people who value me for the credit cards i do own rather than the person that I am. If I ever retire it, I might even frame it in the style of the first dollar ever earned that many (rich, successful and famous) people tend to have. 

Edit: Oh and I am not at all embarassed that I started from nothing. I would be embarassed if I judged people on their credit card...

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Nice !!

[pipeguy]

For some reason this tread made me think of this....

Valley girl is a stereotype depicting a socio-economic class of women characterized by the colloquial California English dialect Valleyspeak and vapid materialism. The term originally referred to an ever increasing swell of semi-affluent and affluent middle-class and upper-middle class girls living in the early 1980s Los Angeles commuter towns of the San Fernando Valley.

In time the traits and behaviors spread across the United States and Canada, metamorphosing into a caricature of unapologetically spoiled "ditzes" and "airheads" more interested in shopping, personal appearance and social status than intellectual development or personal accomplishment.

[Anonymous]

Wow! This thread was such an interesting read. First of all credit cards being compared to actual cars. wow..truly priceless. I have had a long life lived actively for being just 33 years old. My ex husband and I owned every fancy car you could think of and then divorced and lost it all. I will drive Subaru for the rest of my life since reliability,safety and affordability are all that really matters. Plus you just never know when you might need to drive in the snow. I have had every high tier credit card I have read about on this forum and closed them all because when I divorced I wanted to burn every memory of that life to the ground. Capital One helped me rebuild therefore they are the only card always in my wallet. The rest get sock drawered unless I want to buy something on them to help me control spending and remain in a humble state of mind. I worked in the Valley in the financial industry for a few years before I transferred back home to the inland empire to continue working in the financial insdustry and spreading the knowledge i have gained through my eventful life. Judging people on cars,credit cards, or "valleyness" is ridiculous.Thats all.