Canceling Card Before Activating

[Anonymous]

Yes, it was Blue Cash. Your post on the subject was authored the day after I applied for the card.

[Anonymous]

On the agreement, yeah, it was a lot go to through. Most of it was standard legal paragraphs that come with credit cards. I'm surprised they didn't include anything regarding Financial Reviews .

[Anonymous]

Look on the bright side: it's a line of credit in good standing, with a low balance. That's all credit cards can really be anyway.

[Anonymous]

This one isn't a low balance relatively speaking. Initial credit limit is $15,500. My largest credit limit is $17.000

[Anonymous]

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jessep28 wrote:
This one isn't a low balance relatively speaking. Initial credit limit is $15,500. My largest credit limit is $17.000

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Those are credit limits, not balances.

I think what TNWM is saying is to just keep the account in good standing and the balance low, and the card you got will benefit you just as well as any other card.

I disagree, however.  Sure, from a FICO standpoint, one card is just as good as another.  But when it comes to rewards, which is the topic of this thread, there's nothing wrong with getting the card that will work best for you.

Message Edited by cheddar on 08-10-2008 05:53 AM

[Anonymous]

Oops...It was late and I misinterpreted what they said. If I had been a smart accountant and run the numbers I would have just applied for a Gold Card or Blue.

What do you all think is the future of cash back programs? I think we are seeing them be scaled back to a large degree and that will probably continue.

Message Edited by jessep28 on 08-10-2008 07:33 AM

[Anonymous]

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jessep28 wrote:
Oops...It was late and I misinterpreted what they said. If I had been a smart accountant and run the numbers I would have just applied for a Gold Card or Blue.

What do you all think is the future of cash back programs? I think we are seeing them be scaled back to a large degree and that will probably continue.

Message Edited by jessep28 on 08-10-2008 07:33 AM

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I don't think cash back programs are being scaled back.  In fact, I think the programs themselves are better than ever.  I won't be surprised if we see significant raising of the standards to qualify for cash back programs, though.

Ultimately, CCCs use cash back programs to entice cardholders to use their cards over those of their competitors.  For those customers who PIF, APR is irrelevant, so the CCCs have found another way to compete for those cardholders' business.  As long as there is competition among CCCs, and as long as there are people with excellent credit who always PIF, then CCCs will be offering decent rewards programs, including cash back.

What makes you say they are scaling back?

[Anonymous]

Citi slashed their cash back rebate on the Dividend Platinum Select card from 5-2% on special category purchases last year. Didn't AMEX have a "double cash back" program in years past?

[haulingthescoreup]

I think AmEx gets jumpy when you do an immediate product change as an upgrade. If you tell them that you didn't realize how Blue Cash worked, and wanted to do an even swap, I don't think they'd go nuts on you. The problems occur more with those who qualify for Delta Sky Miles (with lower scores) and then want to hop up to one of the Blues.

One thing that might work for you, since you mentioned the Gold, is to switch from Blue Cash to straight Blue, and then pay $40 to register it in the full rewards program, so that it will function like a Gold. It will still be a revolver, and it will report that nice CL, but it will be a heckuva lot cheaper than a Gold.

Just a thought, if it's not too late.