@SouthJamaica wrote:
@gamegrrl wrote:With the help of myFICO over the years, I finally settled into a comfy spot a couple of years ago. Scores all between 811 and 830. Use my primary credit card for every possible purchase (NFCU $40k limit, 1.5% cash back) and pay it off in full every month. Auto loans paid off. Student loans gone. I do have a HELOC that some of the CRAs see as "revolving credit", but I stopped using those funds several years ago and converted the balance to a fixed interest, fixed payment kind of thing. I'm hoping that once the draw period ends in March, the "revolving credit" aspect of the account will change and it will be viewed differently by the CRAs.
Anyway, I don't open a lot of new accounts. I have a great relationship with NFCU, and they had a $150 Cash Bonus offer in May and I took advantage of it, partly for the cash and partly because I had no Mastercards, just Visas. That is the one inquiry on my credit report.
I am retired due to health issues. My husband is of retirement age, but had to give up his job due to COVID. We are fairly healthy financially and have no large purchases (remodeling, autos, etc) planned.
Today I got an email from Capital One for a $200 cash bonus if I get a Quicksilver card. I no longer have any Capital One cards. I have no store cards. I only have bank-issued cards and an Amex card.
Here is the offer:
- A 0% intro APR for the first 15 months on all purchases, 15.49%–25.49% variable APR after that
- Unlimited 1.5% cash back on every purchase, every day
- A $200 one-time cash bonus when you spend $500 on purchases within 3 months of account opening*
- No annual fee
- No foreign transaction fees
I already have the $500 purchase planned: I'm getting my husband an Xbox Series X when it's released in a couple of weeks. Purchase price: $500. Between the 1.5% cash back and the $200 cash bonus, I would end up being $292.50 out-of--pocket for the Xbox.
Given all the parameters, is this worth the ding? Coming from a history of being severely credit-damaged has left a mark on me. I worked very hard to change my habits and my mindset, to the point that I fear the slippery slope maybe more than I should.
In my opinion, no it isn't.
+1, especially with 3 HPs.
