I'm going to cancel my Sony card and would like some input about the consolidation of the other 2. I don't want to close out the Platinum because it's an older card though I don't use it since there's not much benefit. On the other hand, the Quicksilver Signature I was approved for just earlier this year has the highest APR of 22.9% so it really won't be used either. I typically PIF but on the off chance I let a balance ride for a month, I certainly don't want it to be on the Signature card. So then, would it be better to consolidate and keep the Platinum due to the age of the account and lower APR (17.9) or keep them both or ??. Appreciate the help.
@Anonymous wrote:
@girbabe wrote:I'm going to cancel my Sony card and would like some input about the consolidation of the other 2. I don't want to close out the Platinum because it's an older card though I don't use it since there's not much benefit. On the other hand, the Quicksilver Signature I was approved for just earlier this year has the highest APR of 22.9% so it really won't be used either. I typically PIF but on the off chance I let a balance ride for a month, I certainly don't want it to be on the Signature card. So then, would it be better to consolidate and keep the Platinum due to the age of the account and lower APR (17.9) or keep them both or ??. Appreciate the help.
as long as the system isnt wonky, u should be able to combine so long as the new one is 6months or older, and one of the two cards is at 0 balance. Most folks have better success when BOTH cards are at 0.
Also, if you do combine you'd get rewards on your combined credit line, not just one. But the issue is even at 17.9 APR it is eating away at the cash back,but not much for jsut one month.
You could also do a debt shuffle in the event you cant combine due to whatever reason, for when u want to carry a balance more than 1 month.
The sony card doesnt have an AF, are you worried about your exposure with cap1? Why do you want to close it?
ALL Cap1 cards at zero balance. NO perks of any kind on the Platinum - just a plain ol' credit card. CAN consolidate via online so not an issue. I only allow 1-2 cards to report to bureaus each month and utilization is never above 10%. I have plans for a couple of cc's early next year and some are particular about having too many accounts open so I'm planning ahead. I'm just trying to determine the best action for these two cards. Keep the older one and/or combine the CL. I think my main question is if there is any benefit to keeping the Signature card.
@Anonymous wrote:
too many accounts open only applies to credit union apps typically lol. there are people here with 20-120 credit cards alone, nevertheless a mortgage, installment loan or auto loan and they still get approved for stuff weekly.
As a matter of fact, I'm going for a Simmons. It's my understanding that they won't approve anyone with more than 5 new accounts within 24 mos and look verrrrrry closely at anyone with over 10 open cc accounts total. Does anyone else have experience with them?
@Anonymous wrote:
yeah i heard they're ultra picky. screw that lol.
I figure sooner or later I'm going to run out of promos and then where will I be! 
@Anonymous wrote:
@Anonymous wrote:
living life like a normal person lolI know right? Who cares about simmons bank? Its just elusive is all. There are equally good or better cards out there from credit unions.
If you have enough spend, then one could argue you may have more chances for CLIs with two cap1 cards....but if were doing that much anyway on one card it probably wouldnt matter in the long run.
It has the lowest interest rates of any card out there. It may not be for everyone but I'd like to have it for times when I need to carry a balance.