Credit Tips: Visa Flexible Rewards Credit Card Offer

Posted On: February 1, 2005

Author: milavant
Joined: 11 Nov 2003
Posts: 38
Posted: Thu Jan 06, 2005 8:35 pm
Post subject: 1% Visa Card

How do you decide whether to keep (and use) a 1% Flexible Rewards Visa card issued by Bank One with a $14,500 limit? I have two other (better) cards I use regularly (AMEX Cashback and Chase Perfectcard), and it appears that I might have one card more than I need. Yet, I am reluctant to cancel it. However, at this time, Bank One does not have a card that is better than this or my other two cards that I could possibly do a product trade for, and they may never have one. What do you do with an extra card like this? I can’t trade it for a Chase card either, because Chase and Bank one have not yet combined, and Chase also does not have anything I want. I DO NOT WANT TO APPLY FOR ANOTHER BANK’S CREDIT CARD. I want to deal with what I have and avoid hard inquiries for a while.

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Author: Polonius
Credit Expert (100+ Posts)
Joined: 19 Jan 2004
Posts: 432
Posted: Thu Jan 06, 2005 10:24 pm

What’s the harm in keeping the card? As long as it costs you no annual fee, having it can only help your credit score–and who knows when having the card might come in handy, either for the extra credit line or for convenience or because the bank makes you a special offer or whatever.

Polonius

“Neither a borrower, nor a lender be; For loan oft loses both itself and friend”

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Author: DHK
Joined: 20 Dec 2004
Posts: 21
Posted: Thu Jan 06, 2005 10:37 pm

Isn’t that a Visa Signature card? You really get a lot of travel benefits provided via Visa for using a Signature card. If you travel frequently, you may want to keep this card just for those perks.

usa.visa.com/personal/cards/benefits/index.html?it=c/personal/index%2EhtmlCard%20Benefits%20Chart

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