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There's no sense in cancelling because you already took a HP for it. Just SD it if you don't plan on using it.
@ToxikPH wrote:
I recently got approved for the capital one venture card and holy crap I understand all the hate for them already. The annual fee is supposed to be waived for the first year but it posted on my account. After 20 minutes on the phone of them trying to convince me it wasn’t to be waived I got it removed. Is it crazy to cancel a credit card within a week of getting approved?
It's great that they waived it as advertised, but what's your plan for next year?
Are you continuing on PC or them waiving fee indefinitely?
I am asking this because you mention cancelling even after they waived it (as they should for the first year), but it will be there next year.
@ToxikPH wrote:
I honestly plan on canceling all of my memberships with capital one. That includes my checking and savings. Honestly I don’t care about them black listing me or missing out on the bonus. I just want to make sure canceling it doesn’t make problems with other lenders.
It will look like you churned and burned them. I wouldn't do it.
@ToxikPH wrote:
I honestly plan on canceling all of my memberships with capital one. That includes my checking and savings. Honestly I don’t care about them black listing me or missing out on the bonus. I just want to make sure canceling it doesn’t make problems with other lenders.
Personal preference but, if they're giving you issues and angst then I would cancel them completely. I don't have time for games w/ lenders and have to spend time monitoring their actions down the road. It shouldn't have any effect on other lenders going forward at all. The only thing to keep in mind since you mentioned Checking w/ them is if you have payments being pulled from that account to make sure you go through all of your accounts and update them with the new info.
https://www.depositaccounts.com/checking/reward-checking-accounts.html
@ToxikPH wrote:
I honestly plan on canceling all of my memberships with capital one. That includes my checking and savings. Honestly I don’t care about them black listing me or missing out on the bonus. I just want to make sure canceling it doesn’t make problems with other lenders.
I dont know about savings or checking account issues, but you're cancelling Venture because you just got approved for HH, right?
You're certainly free to do so, but you should stop and ask yourself what happens if you displease Amex in some way.
Good luck
@Anonymous wrote:
@ToxikPH wrote:
I honestly plan on canceling all of my memberships with capital one. That includes my checking and savings. Honestly I don’t care about them black listing me or missing out on the bonus. I just want to make sure canceling it doesn’t make problems with other lenders.It will look like you churned and burned them. I wouldn't do it.
If you do close it soon, at least stick around long enough to actually get the cash bonus.
As I see it...
Ideal: Earning a lot of bonuses while downgrading, PCing, and getting retention offers to keep accounts open and conceal one's treachery. (Of course, complexity and "crowding out" new lines are considerations.)
Okay: Getting a lot of bonuses but closing accounts.
Undesirable: Opening and closing accounts without getting bonuses.