Dump Cap1?

Discussion in 'Credit Talk' started by AnnMarie, Mar 15, 2001.

  1. AnnMarie

    AnnMarie Well-Known Member

    I need some opinion and experiences on this one. In my previous post I told about getting a Citi Gold AA card today. I also have a classic Citi card , a KMart CAp1 MC ($200 limit opened 9/00 bal 90.00 15.9 fixed $0 fee)and a "classic" Cap1 card that I JUST upgraded to a "gold" for $39.00 for $100.00 more in credit ($500.00 CL opened 3/00 17.9 fixed $59/yr) I haven't gotten the New Cap1 card yet.
    Should I ditch them? At least the "gold" I'm thinking since it's a fairly new account (1 year), costs me a fee and the charge to go to a "gold" card.
  2. SEAN

    SEAN Well-Known Member


    Actually I think you answered your own question. I would do yourself a favor and dump the gold card. Their upgrade to gold for $39.00 amacks of tactics used by Direct merchants and Cross (crooks) Country. They will upgrade you to the gold card, however, they do not give you a line of credit that most prime cards give to their gold customers ( usually min. $5,000). In addition they do not report credit limits to the bureaus (competitive reasons they say), so it almost always looks like your cap one cards are maxed. I recently paid off the two platinum cards I had (m/c and visa) with Cap one because they did not report the limit ( they lost a good customer). Anyway, I would recommend getting rid of atleast the gold card.Good luck to you.

  3. AnnMarie

    AnnMarie Well-Known Member

    thank you Sean. In retrospect, you are totally correct. I'm going to call them and unless the card becomes fee free, etc I will close the account and pay off the balance.
  4. dave

    dave Well-Known Member

    I don't see how either cap.1 account is useful to you in anyway and I would dump them. I dumped my cap.1 accounts last year after getting citi cards too. Just couldn't get anywhere with them after six years and decided it was time to move on.

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