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What to do about my beloved Pottery Barn CC

pizza1
Community Leader
Super Contributor

What to do about my beloved Pottery Barn CC

So today in the mail, I get this huge packet from Capital One regarding "account information".  Opened it,  and too my surprise found out that my Pottery Barn CC is leaving Commenity and going to Cap1, AND its being converted to a Visa!  Thats great and all, BUT I have a few concerns. 

 

My PB CL is $49.3K!  With it going to Cap1, It'll be interesting to see if they keep my CL intact.   If they do, that'll put my total exposure with Cap1 at  $97.3K between two cards.  I already have the Venture at $48K.   Even if the CL gets cut, it wont effect my overall utilzation, so not worried about that. 

 

My "new terms" of 26.99% apr is a little less than desired, but I'd never carry a balance anyways.  Only time Id carry a balance on this card would be on a furniture promo, but who knows if those promo's will even be available.  The letter does say "they are working on a new Key Rewards program", and will let us know soon. 

 

Also, at the end of letter it states:

*If for any reason your PB CC is not transferred to Cap1, the changes described in this document and the Cap1 agreements will not apply.  Commenity Bank wiill communicate with you as necessary to administer and service your accout*

 

So, I suppose its possible that some accounts could stay with Commenity Bank.  Cap1 has been very good too me, keeping my ridiculous CL intact on my Venture, but not sure how they would react to this.  I love my PB CC...It always been my one store card I could never part with!! Smiley Sad

 


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013...I'm in the home stretch now!
12 REPLIES 12
FinStar
Moderator

Re: What to do about my beloved Pottery Barn CC

You mentioned it is your "beloved" and you "love your PB CC".  I would say that the 'plus' is that it'll be converted to a [Visa} network card where you can use it outside of PB and potentially earn other rewards.

 

My suggestion is to keep it (just like your PenFed PLOC) and see how it pans out once it crosses into Capital One's servicing.  Since it appears you won't be in much of a need for a CLI, I don't see how the change could be a negative.  Yes, Capital One does limit overall exposure once you reach a certain threshold, so you'd have to count any others including Neiman Marcus, Saks, Cabelas, etc., (if have any of those).  Unless you're going for another Capital One core or PLCC in the near future, I would think you'd be ok.

Message 2 of 13
coldfusion
Community Leader
Super Contributor

Re: What to do about my beloved Pottery Barn CC

It's not like the opinion of anyone impacted is likely to sway any decision, so you might as well just ride it out and see what happens.



(1/2022)
FICO 8 (EX) 807 (TU) 836 (EQ) 830
FICO 9 (EX) 834 (TU) 845 (EQ) 846

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 3 of 13
pizza1
Community Leader
Super Contributor

Re: What to do about my beloved Pottery Barn CC


@FinStar wrote:

You mentioned it is your "beloved" and you "love your PB CC".  I would say that the 'plus' is that it'll be converted to a [Visa} network card where you can use it outside of PB and potentially earn other rewards.

 

My suggestion is to keep it (just like your PenFed PLOC) and see how it pans out once it crosses into Capital One's servicing.  Since it appears you won't be in much of a need for a CLI, I don't see how the change could be a negative.  Yes, Capital One does limit overall exposure once you reach a certain threshold, so you'd have to count any others including Neiman Marcus, Saks, Cabelas, etc., (if have any of those).  Unless you're going for another Capital One core or PLCC in the near future, I would think you'd be ok.


@FinStar , nope. Dont have any other cards serviced by Cap1.  I only have the Venture.  So many changes! My Chase Amazon, and now my fav PB lol...


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013...I'm in the home stretch now!
Message 4 of 13
Back2Reality
Frequent Contributor

Re: What to do about my beloved Pottery Barn CC

I got the same packet. Can you point to where it says "... AND its being converted to a Visa"

 

 was your pb already a visa?




Recent INQs:




GOALS 2021:
• [___] $75k revolving CL
• [_X_] Apple Card (too sexy not to have)
• [___] AZEO enforced
• [___] Build Emergency fund to 2x monthly
• [___] FICO 8 670: [___]EX [___]TU [__X__]EQ
Message 5 of 13
pizza1
Community Leader
Super Contributor

Re: What to do about my beloved Pottery Barn CC


@Back2Reality wrote:

I got the same packet. Can you point to where it says "... AND its being converted to a Visa"

 

 was your pb already a visa?


@Back2Reality , It would be in the very 1st paragraph.  No, my PB cc wasnt a visa, PB never had Visa's, only store card. 


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013...I'm in the home stretch now!
Message 6 of 13
Back2Reality
Frequent Contributor

Re: What to do about my beloved Pottery Barn CC

@pizza1 No soup for me. I compared it to my WS visa letter which says visa. The word visa doesn't appear (nor in my west elm letter). 




Recent INQs:




GOALS 2021:
• [___] $75k revolving CL
• [_X_] Apple Card (too sexy not to have)
• [___] AZEO enforced
• [___] Build Emergency fund to 2x monthly
• [___] FICO 8 670: [___]EX [___]TU [__X__]EQ
Message 7 of 13
FinStar
Moderator

Re: What to do about my beloved Pottery Barn CC

Interesting.  So, based on the above, it's possible some accounts are being converted to the Visa network, while others may remain store-specific.

 

@pizza1- can you post that specific section of your T&C's so others can reference it?  I don't have any of the WS or PB cc's.

@Back2Reality- can you share the same for your specific T&Cs?  Just be sure to blurr out/mask any personal identifiable info.

Message 8 of 13
Back2Reality
Frequent Contributor

Re: What to do about my beloved Pottery Barn CC

Actually I think the difference is in the list of program features in the paragraph "A new program is headed your way"

 

i compared all 3 letters and the only difference is a new line on my WS Visa : "the ability to use your card and earn rewards everywhere Visa is accepted."  That line doesn't appear on the PB or west elm letters. 




Recent INQs:




GOALS 2021:
• [___] $75k revolving CL
• [_X_] Apple Card (too sexy not to have)
• [___] AZEO enforced
• [___] Build Emergency fund to 2x monthly
• [___] FICO 8 670: [___]EX [___]TU [__X__]EQ
Message 9 of 13
pizza1
Community Leader
Super Contributor

Re: What to do about my beloved Pottery Barn CC


@FinStar wrote:

Interesting.  So, based on the above, it's possible some accounts are being converted to the Visa network, while others may remain store-specific.

 

@pizza1- can you post that specific section of your T&C's so others can reference it?  I don't have any of the WS or PB cc's.

@Back2Reality- can you share the same for your specific T&Cs?  Just be sure to blurr out/mask any personal identifiable info.


@FinStar 

 

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My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013...I'm in the home stretch now!
Message 10 of 13
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