Capital One

[hawkins]

Was just thinking about C1 and if they are really any use to me anymore. I have a QS which is a decent card but with a low $500 limit on it. My daily driver is PenFed Power Cash now followed my my USAA visa that by all measures is pretty much the same card as the QS but with 6 times the limit. I don’t know other then some subs I put on it to show some activity. The QS simply does not grow very fast. I have been looking at all their other cards in depth and have decided they just don’t have enough anymore that interests me. I used to think the Venture was exciting but am turned off by the $95 AF and the Venture One well forget about it. Savor card I thought might be ok but then C1 had to add an AF to that as well. And no I am not interested in the new Savor One. I don’t know the only thing the QS has going for it is no AF. I will see what happens when my year mark hits. Otherwise I am leaning on closing it. Sorry C1 I just lost interest in you. Now if you make the QS into a 2% card or 2.5% (WILL NEVER HAPPEN LOL!) then we can definitely continue our relationship. Otherwise I guess time to move on.

[FinStar]

And sometimes that happens, right?

The bottom line is you will eventually evaluate when a product is no longer a good fit, which could be the limited capacity to use it depending on your spending habits, nerfing, discontinued features, etc., especially if you have other products that are comparable or more flexible.

I'd say evaluate to see if a CLI is in order. Did you obtain the QS as part of an early build or rebuild?

[hawkins]

Was part of a re-build. I kind of feel disloyal by thinking of dumping them when they gave me a good start. But I don’t like having cards laying around with no real use for me.

[rbentley]

Cap 1 is not your BFF and really doesn't care about your loyalty.  You are merely a financial transaction to them.  They lent you credit because it made financial sense to them and they have profited by you using their card.  They would not hesitate to shut you down or do a CLD the minute they felt insecure.  They will make no attempt to retain your business.

I am not saying to not be grateful to them for helping you rebuild, but that is their business model.  They don't deserve or value your loyalty as their stingy CLI's show.  I am not hating on Cap 1.  They have their value and purpose.  When they are no longer of value, move on.  

[Anonymous]

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This applies to 99.99 of lenders, if not all. Admittedly, some more than others are quicker to pull the trigger. 

@rbentley wrote:

Cap 1 is not your BFF and really doesn't care about your loyalty.  You are merely a financial transaction to them.  They lent you credit because it made financial sense to them and they have profited by you using their card.  They would not hesitate to shut you down or do a CLD the minute they felt insecure.  They will make no attempt to retain your business.

[FireMedic1]

That QS started out as a Plat and upgraded yes?

[Soelden]

My QS has also been bucketed.  Started as a secured Platinum and has never grown since upgrading to QS.  Despite heavy usage always paid off before the statement, every CLI has been denied.  I guess its just alway going to be considered a high risk account.  Ive since moved on to credit cards with more generous CLs.  Just add some subscriptions, sock drawer it, and move on.  It did its job and will still be good for your average credit age.

[Shooting-For-800]

Savor and Venture have a $500 bonus.  That is over 6 years worth of AFs to see if you are happy.

[hawkins]

Yes that’s right.

[Anonymous]

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@Shooting-For-800 wrote:

Savor and Venture have a $500 bonus.  That is over 6 years worth of AFs to see if you are happy.

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800, I know you love CapOne but that's not how it works, it's like saying Chase gives you $500 SUB for their deposit accounts, that's 2 years of lost interest to see if you're happy. Once you've grabbed the SUB it's yours to keep and should have no bearing in determining the viability of Savor on year 2 with $95 AF, same with whether Chase deposit accounts are worth keeping. Like many have already said, it's all just business transactions.