Is it bad I have two cards I barely use anymore?

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andy1088
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Is it bad I have two cards I barely use anymore?

Postby andy1088 » Sun Apr 01, 2012 7:22 am

I have four total credit cards now and a fifth one on the way.

  • Capital one secured card $29.99 annual fee-$300 CL $0 balance (haven't used in a while C1 gave me a discount giving me the second year for $21 I kept it because AAOA this is my oldest account)
  • Capital one rewards card-$500 CL $0 balance (never use due to getting Discover)
  • Discover More-$1,000 CL $485 balance (0% until November pay about $100-$150 a month)
  • Citi platinum select-$1,000 CL $260 balance (0% until August 2013 pay about $50-100 a month)
Is it bad I never use the two capital one cards anymore? I don't want to lose the age of the accounts as they're my oldest (March/April 2011). Should I charge on them like once a month?
My cards
Chase-Sapphire-$5,000 Freedom-$3,000, Amazon rewards-$700, Slate-$600
Citi- Diamond Preferred-$4,000, Thank you-$2,500
Discover IT-$2,500
Bank of America cash rewards-$2,000
Capital one newcomer rewards-$500


Money card
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Postby Money card » Sun Apr 01, 2012 2:59 pm

Interesting question. Since you don't have a Zales charge card I would say this. It looks like to me that you have a Capitol1 with an annual fee of 21.00, a Discover More and a Citi platinum select.

Your oldest credit card account is only April 2011 since there is a fee and your card is only 1 year old, it's not like you had this card since 2002

Because it has a fee you probably should cancel it. If they take your fee off, then you can use your card once in a while. Once you hit November you will need to pay your Discover in full. I see you live in New Jersey, I live in New York.

Do you eat at the Mahwah bar and grill, Saddle River Inn, do you shop at Hermes? If not then your Discover is a great card.

Which Capitol1 rewards card do you have name on and what level is it?

bmw1990Z
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Postby bmw1990Z » Sun Apr 01, 2012 5:34 pm

i agree with money card, paying a monthly fee for a card you don't even use (a SECURED card at that) is ridiculous and should be dropped. this is why I don't like capitol one. However, many users have posted that by calling the number on the back of the card, capitol 1 is willing to drop the fee to retain you as a customer so its worth a shot. (as money card pointed out..)
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013

andy1088
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Postby andy1088 » Mon Apr 02, 2012 7:47 pm

I have the Capital one Newcomer rewards card (1% back everything 2% on travel) I also just got a freedom card with a $500 CL waiting on the card and paperwork to see if I get the 6 months no interest. I don't go to any of those places because I live in Central Jersey by New Brunswick area.

I love my Discover card I use it pretty much everywhere I use my card. I closed my card by the way which means I'll also get back my $50 deposit which makes me very happy. I try not to use the Cap1 card because my interest is through the roof (like 23%), but I applaud them for giving me credit when no one else would.

I'm 23 and I know my score when up over 100 points. At the beginning of 2011 I couldn't get any card now in 2012 I have a Citi, Chase and Discover and I know how strict Discover and Chase are. I don't use my cards that much, but having them makes life a little less-stressful because knowing I can put something on a card with 0% interest and pay it off down the road makes life a little less hectic. For that reason I'll always have a place for Cap1 in my mind, but their cards are pretty bad.
My cards
Chase-Sapphire-$5,000 Freedom-$3,000, Amazon rewards-$700, Slate-$600
Citi- Diamond Preferred-$4,000, Thank you-$2,500
Discover IT-$2,500
Bank of America cash rewards-$2,000
Capital one newcomer rewards-$500



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