When To Put Cap 1 on the Chopping Block?

[Anonymous]

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@Anonymous wrote:
I have a bucketed Cap1 QS that was converted from a platinum. Limit seems to have maxed out at $850. I was planning to sock drawer it forever but you know, the more I think about it, the more I want to just close it and simplify my life a little bit. The only reason I am hesitant is that I was thinking it might be nice to have for foreign travel with no FTF. But then again I’ve got an Uber Visa with 4x the credit limit and it’s got no FTF either.

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Certainly in this case with an $850CL I would close.     But in general I like multiple (at least two) backups for a feature.   So if no FTF is important to you, at some stage I would get another card with no FTF, just in case something "goes wrong" with the Uber card (they start charging an AF, close it etc).   Note nothing special about Barclays here, it's just that any card can become unreliable in some way.

So I've started moving most of my non-cat spend to PayPal (+ business debit) but I am keeping my other 2% cards just in case....

[Anonymous]

It's unpredictable. The whole bucket thing isn't factual. I've come across hundreds of people who started out in credit steps with $300 line and were increased to $2000-4000 after the 5 months. They like to see heavy usage... run it all the way up and pay it off before statement. Supervisor told me this. (Former supervisor I should say)

[Anonymous]

Thanks for all the insight. Cap 1 is definitely on the chopping block. I appreciate the doors it opened but it's just taking up a slot in the wallet for no good reason. 

[Anonymous]

See, that’s the problem. I’m not putting any significant amount of spend on a quicksilver when literally all of my other cards offer better rewards.

One thing I like about it is that there’s no minimum to redeem and the cash back is very fast and transparent. But I am not in that much of a rush to get a couple bucks cash back, I’ll just use one of my other cards, double cash is the worst case scenario... I’ll take the extra half a percent and wait for my cash back, at least Citi gives me a 2k limit. Not great either I know. Wish I waited until now to apply for all these cards, I’d probably have double the available credit. My credit score has gone up by about 100 points since I applied for double cash.

[northface28]

I have a $48,000 limit quicksilver I haven’t used in maybe 4 years, I just park balances on it. Otherwise I’d of closed a long time ago.

[Anonymous]

I have a QS which started as a Platinum Steps card... It currently has a $7500 limit on it, but I haven't used it in months because I get much better rewards out of my other cards. They are on the chopping block for me which I hate to do because when times get tough they don't freak if you have to carry a balance for a while.

[AverageJoesCredit]

@Anonymous , if thats the case dont put it on the chopping block. A card you can depend on in tuff times is hard to find and its value should carry more weight than its rewards or lack thereof