Quick BT question

[Anonymous]

I want to close my Cap1 quicksilver because of the crazy APR and I already have a 1.5% cashback card that at a limit of 7.5k which is my nfcu cash rewards.

So anyway my question is can I close the account but still do the balance transfer. I don't see why I couldn't but I don't know if maybe I can't. I'll have to call anyway to close it but don't want to ask them this and they say no and then I wasted time calling them.

[Anonymous]

So are u trying to close the account after transferring its balance to NFCU?

[Anonymous]

I'm actually transferring it over to another CU that has a BT rate thats really low. Here.https://www.ssfcu.org/en-us/loans-credit/credit-cards/Pages/balance-transfer.aspx

Really just unimportant details. Sorry.  

[Anonymous]

Of course you can close the card after the BT has fully paid off the card's remaining balance. 

[Anonymous]

+1

[Anonymous]

Well I mean can I close the account today and THEN initiate the BT later this week.

[Anonymous]

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@Anonymous wrote:

Well I mean can I close the account today and THEN initiate the BT later this week.

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I would contact Cap One customer service and pose this question to them so that you can be absolutely certain. 

[Anonymous]

I would pay it off first... I think u could run into too many problems if it is closed first

[Anonymous]

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@Anonymous wrote:

I want to close my Cap1 quicksilver because of the crazy APR and I already have a 1.5% cashback card that at a limit of 7.5k which is my nfcu cash rewards.

So anyway my question is can I close the account but still do the balance transfer. I don't see why I couldn't but I don't know if maybe I can't. I'll have to call anyway to close it but don't want to ask them this and they say no and then I wasted time calling them.

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Is there any particular reason you want to close this? Does it have a high annual fee?

If no AF I would keep it open. The APR doesn't matter if you pay in full each month because you pay no interest.

You might consider hanging on to it. Use it every few months to charge something small and pay it off before the statement posts. Another suggestion is using it to autopay a recurring monthly expense. I do for several utilities. Again this will keep it active and you won't have to keep track of the last time you used it.

[Anonymous]

It does have an anual fee. It's 39 and I don't see the point in paying that. Even if they offered to waive it I wouldn't want to keep it. My plan now is to have a Visa, MC, Discover, and amex. I just need an amex that I'll apply for at some point. I'll have 13300 with the three i have now(except for the Cap1 which would add 2k). And I have a jcrew card I'm considering keeping because it has a 4600 limit that I rarely use. So..I just realized I make about 27k a year with 17k in credit. I'm more than happy with that.