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Closed Capital One

June 2nd, 2014 at 02:59 pm

I closed my Capital One credit card. This is the one which was upgraded to Quicksilver offering 1.5% rewards and no annual fee. In an effort to reduce our open lines of credit, we decided to close my account and leave my husband's open. I am an authorized user on it, so we each have a card. Right now we aren't using the card since we are working on obtaining the bonus reward with the Wells Fargo American Express Propel World card. But it is a good 'go to' card for earning rewards. I like that I don't always have to track the 5% categories like some cards.

I'm also going to look into closing my husband's Chase Freedom account. We only have one card for it and I don't think we have used it since he received his bonus reward months and months ago. It may have 0% interest, but I don't think we need to keep it open even with that offer! Hopefully you saw my previous post about a limited time offer to open a Chase Freedom account to get a $200 bonus for spending $500. Best return I think I've ever seen!

Have you reduce any of your credit cards lately? Did you open an account lately?

I have several new posts on Your Organized Friend if you are interested.

3 Responses to “Closed Capital One”

  1. Another Reader Says:

    I'm still waiting for the $200 reward to show up on the Chase Freedom account. I pay the charges as soon as they appear on the website, but I think I will have to wait until the next closing date to see or get the Chase reward. When I did the Bank of America $100 reward and paid the charges, the reward showed up as pending immediately.

    Chase will be offering 5 percent on gas in the next quarter, so you might want to keep the card open for that.

  2. Beawealthywarrior Says:

    This weekend I sent emails to close Quick Silver card and a Citi card. Debating on whether to close Discover because I like seeing my FICO score every month Smile

  3. creditcardfree Says:

    @Another Reader, we will still have the Chase Freedom open in my name for which my husband is an authorized user. I'm keeping this one open since it is my oldest card at this point. Chase is pretty prompt with rewards, but I think it is after statement closes if my memory serves.

    @BAWW, I'm consider closing the Discover, too. I already closed my husbands.

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