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Any reason to hold onto my QS despite not having a fee?

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Established Contributor

Any reason to hold onto my QS despite not having a fee?

Since I have multiple 2% cards (Paypal and Fidelity), is there any reason I should leave the Quicksilver open? The card itself was PCed from the Venture earlier this year. Not to mention, this would free up a slot later on if I were to go for the Venture again.

 

The card has a 15k limit which happens to be my 2nd highest limit across all of my cards. I would still have around 115k in total credit if I were to close it. My total utilization should still be below 8.9% as well. I’m really trying to trim the herd as I have quite a few cards that have become redundant.

 

Any compelling reason to not close it?

 

 

Amex Gold NPSL, Amex Hilton Aspire 3k, Amex Marriott Bonvoy 1k, AMEX BBP 3.5k, AMEX Hilton Surpass 4.5k, BOA Cash Rewards 8.2k, BOA Better Balance Rewards 2k, Care Credit 15k, Chase Amazon Visa 19.825k, Discover 11.8k, Discover 12.5k, Nordstrom Store 4.5k , Fidelity Visa 10k, Cap 1 QS 15k, Cap 1 Savor 10.5k, Citi Rewards+ 4.4k, Citi DC 7.5k, Citi Advantage Platinum 5.5k, US Cash+ 3.5k, Altitude Reserve 9k, Paypal Mastercard 4k, Apple Card 6.5k
Message 1 of 22
21 REPLIES 21
Super Contributor

Re: Any reason to hold onto my QS despite not having a fee?

The only thing you didn't mention was age of accounts... if it's not your oldest account, I see no reason to keep it.

 

...mind you, I see no reason to close it either, but if you're in trimming mode and don't need it, by all means let it go.  Smiley Happy

10/01/19 Fico 8: EX 717, EQ 721, TU 742.

Zero percent financing is where the devil lives...
Message 2 of 22
Established Contributor

Re: Any reason to hold onto my QS despite not having a fee?


@tcbofade wrote:

The only thing you didn't mention was age of accounts... if it's not your oldest account, I see no reason to keep it.

 

...mind you, I see no reason to close it either, but if you're in trimming mode and don't need it, by all means let it go.  Smiley Happy


Oops thought I mentioned it lol. But the account will be a year old like next week I believe so it’s definitely not old by any means.

Amex Gold NPSL, Amex Hilton Aspire 3k, Amex Marriott Bonvoy 1k, AMEX BBP 3.5k, AMEX Hilton Surpass 4.5k, BOA Cash Rewards 8.2k, BOA Better Balance Rewards 2k, Care Credit 15k, Chase Amazon Visa 19.825k, Discover 11.8k, Discover 12.5k, Nordstrom Store 4.5k , Fidelity Visa 10k, Cap 1 QS 15k, Cap 1 Savor 10.5k, Citi Rewards+ 4.4k, Citi DC 7.5k, Citi Advantage Platinum 5.5k, US Cash+ 3.5k, Altitude Reserve 9k, Paypal Mastercard 4k, Apple Card 6.5k
Message 3 of 22
Super Contributor

Re: Any reason to hold onto my QS despite not having a fee?

I'm going to have to make a similiar choice about my venture card. If they don't waive the AF I will probably PC it to the QS. Only reason I am holding on to the card is that its my oldest active card. As a general rule I don't close non-AF cards unless I need the credit card slot (for example with their limit on total number of cards), the card is taking up credit that I need to get an approval on another card with same lender, or if it was an extremely low credit line for some reason in comparison to all my other cards. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 4 of 22
Community Leader
Valued Contributor

Re: Any reason to hold onto my QS despite not having a fee?

If you really don’t use or want it, close it. I would. Even if it WAS my oldest account. That’s a nice limit, though! 

Discover It: 19.7k
Amex BCE: 18k
Citi DC: 5.7k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 5 of 22
Established Contributor

Re: Any reason to hold onto my QS despite not having a fee?


@pinkandgrey wrote:

If you really don’t use or want it, close it. I would. Even if it WAS my oldest account. That’s a nice limit, though! 


Right! One of the main reasons I don’t want to close it but at the same time I’m maxed out with Cap 1 cards. Unless I close it (Savor isn’t an option since I’m grandfathered in), I won’t be able to get the SUB for the Venture again.

Amex Gold NPSL, Amex Hilton Aspire 3k, Amex Marriott Bonvoy 1k, AMEX BBP 3.5k, AMEX Hilton Surpass 4.5k, BOA Cash Rewards 8.2k, BOA Better Balance Rewards 2k, Care Credit 15k, Chase Amazon Visa 19.825k, Discover 11.8k, Discover 12.5k, Nordstrom Store 4.5k , Fidelity Visa 10k, Cap 1 QS 15k, Cap 1 Savor 10.5k, Citi Rewards+ 4.4k, Citi DC 7.5k, Citi Advantage Platinum 5.5k, US Cash+ 3.5k, Altitude Reserve 9k, Paypal Mastercard 4k, Apple Card 6.5k
Message 6 of 22
Valued Contributor

Re: Any reason to hold onto my QS despite not having a fee?

Amex Gold NPSL, Amex Hilton Aspire 3k, Amex Marriott Bonvoy 1k, AMEX Everyday 5k, AMEX BBP 2k,

BOA Cash Rewards 8.2k, BOA Better Balance Rewards 2k, Fidelity Visa 10k,

Chase Amazon Visa 19.825k,

Discover 6.8k,

Nordstrom Store 4.5k , 

Cap 1 QS 15k, Cap 1 Savor 10.5k,

Citi Rewards+ 4.4k, Citi Advantage Platinum 7.5k, Citi Premiere 5.2k,

US Cash+ 3.5k, Altitude Reserve 9k,

Care Credit 15k, Paypal Mastercard 4k

 

Looking at your current holdings I'm not seeing a reason why or not to.  If you're content with the loss of the CL then just do it.  No real need to dwell on it for too long.  

500K+ TCL / 800+ FCOs
Message 7 of 22
Senior Contributor

Re: Any reason to hold onto my QS despite not having a fee?

personally I would keep it for age and utilization in the sock drawer.  I am fed up with them myself. My personal card is bucketed very low limit for reason unknown even with a 750 plus fico limit. DW card is stuck with a $10K limit with similar fico score  and it used to get  a lot of use. Our biz Spark card we had a good limit $18K but I am not happy with them personally and got a better deal for biz cards.  We are keeping the three for not going to be using them but once in a blue moon. 

Message 8 of 22
Super Contributor

Re: Any reason to hold onto my QS despite not having a fee?

Around like, say, 5 years ago, the QS was unique because there weren't a lot of 1.5% (or 2%) cards around. They are a dime a dozen now and almost none of them have an AF, so 1.5% with no fee is not a selling point.

 

Close it and move on.

Message 9 of 22
Super Contributor

Re: Any reason to hold onto my QS despite not having a fee?

I keep my QS both because it’s my oldest card by 4 years and because they deal with disputes very well. I’ve had two disputes in the 5 years I’ve had it and they were quick to resolve it and didn’t require me to do anything but report them. Some of the hoops other companies apparently make you go through from reading on here blows my mind. 

 

Another perk is I can use the card anywhere I want to online and not have to worry about fraud as long as I generate a virtual CC with Eno. Same for annoying renewing subscription services, don’t have to cancel if I use a VCC number. There’s some value to being able to go anywhere on the web and not worry about fraud. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 10 of 22
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