Thinking of breaking up with Capital One and starting a new relationship w/ Paypal or NFCU

[Creditsen]

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@cardme wrote:

My relationship with Capital One has always been lukewarm.

That's a great way to describe how I feel about Capital One. Also, that's an interesting perspective for Synchrony. I didn't realize the PayPal card was through them, but obviously that's something I need to look into.

[Creditsen]

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@Gollum wrote:
I think credit cards are supposed to report to the credit bureaus for ten years after being closed. Since you're thinking about cutting ties with Capital One anyway,  and the Fed is increasing interest rates, I think you should close your Capital One card immediately then try (for a couple years) to be happy/satisfied with the credit cards that you already have.

I didn't know that! Super useful info.

[Creditsen]

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@Anonymalous wrote:

I wouldn't read too much into the sentiments of this forum. We're a narrow segment of the market, with niche interests. In 2021, JD Powers did a survey of credit card satisfaction survey covering the major issuers. American Express and Discover were at the top, but Capital One was in third place, above all the other major banks. They're perfectly fine for most people. 

Alternately, you might want to look at something like the WF Autograph for a ton of 3% categories, or go after some more 5% categories with something like the Citi Custom Cash or US Bank Cash+/Elan Max Cash Preferred.

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I'll look into those cards! Thank you they weren't even on my radar

[Traveler101]

Some interesting comments being posted here. Kind of in same boat with cap1 myself. What I did is start a relationship with US Bank. Just opened a cc and checking account moved there too. Cap1 was good don't get me wrong. They were there to help me build my credit to where it is today. But the cards don't fit for me anymore. I feel the the same about Barclay's. Been 6 years

since a cli, while others have passed them up big time. Barclay's use to allow credit allocation to another card. I have 2 there. I will close one and reallocate to the oldest. I carry about 32,000 on 2 cap1s. One being my oldest. I'm going to work some on usb and see their thoughts, they raise their limit for me down the road, I will decrease cap1 accordingly. Just going to nurture and let some new accounts age a little. But I would be just fine reducing both c1 down to 5 k each or just keep oldest open at 5k. I get it. There comes a point when you find better fits for your lifestyle. You just can't do it all at once.

[BijouMan]

I really like their Savor card. It gives me 4X rewards on quite a lot of MCCs and if you have a Venture card you can convert them to Venture miles and go for a trip in the first class cabin on that plane you've always wanted to go on.

[Traveler101]

Also wanted to add, if you have a way into NFCU, you will not regret it. One of the finest around. Just don't attempt the flagship first. Most have had to build up to that. For me, it was 2 hard inquiry for 2 diff cards. Each started at 25k. Took 2 years and maxed out at 80k via sp cli's. If you want a great place to work with you, you can't find much better. Some have had slow starts, profile specific, but over time, have gotten there. You would have no regrets there.

[NoMoreE46]

I got a notice from C1 wanting to review my QS CL not long ago.  I opted out and it's limit is the same for now.

The company is pro-actively trying to reduce its exposure right now - which is understandable.   C1 pulled back CLs in August  of 2020.  My Savor was reduced from $17,000 to $5,000 then along with a bunch of users here.  Despite that,  and not being able to get any of that $17,000 back in CLI requests,  I still enjoy C1 in terms of the user experience and user interface.   I just take in stride. 

Yes, dIversify your banks- be it NFCU or whoever you decide.  Do note that Synchrony has been the topic of a few rants of shutting down all of one's accounts (mostly for those with several cards) with no notice... 

[BijouMan]

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@NoMoreE46 wrote:

I got a notice from C1 wanting to review my QS CL not long ago.  I opted out and it's limit is the same for now.

The company is pro-actively trying to reduce its exposure right now - which is understandable.   C1 pulled back CLs in August  of 2020.  My Savor was reduced from $17,000 to $5,000 then along with a bunch of users here.  Despite that,  and not being able to get any of that $17,000 back in CLI requests,  I still enjoy C1 in terms of the user experience and user interface.   I just take in stride. 

Yes, dIversify your banks- be it NFCU or whoever you decide.  Do note that Synchrony has been the topic of a few rants of shutting down all of one's accounts (mostly for those with several cards) with no notice... 

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Why would they decrease your Savor but not your Quicksilver?! Savor is so much more useful! When used alongside a Venture product, it's pretty much Capital One's version of American Express Gold.

[MarkintheHV]

NFCU sounds like a nice addition.  Either their more rewards amex, or if you dont mind a small annual fee, their Flagship.  I used to have the more rewards amex (which is recommended for everyday spend) and while not paying attention to my cashback, it seemed to grow pretty fast.   The Flagship also has a good rewards structure, and their customer service is top notch