I applied for a C1 S1 around a year ago and got a pretty low limit of $500. I’ve spent up to the limit every month without moving the balance around and asked for a credit limit increase but only got $100. So it has just been sitting in my drawer since then.
I have other cards that take care of my restaurant spending so the events category is really the only part that I don’t have covered by anything else. I enjoy going to sports events but $600 only buys some cheap baseball tickets, and forget about getting NFL tickets or anything decent with that limit.
Is there anything I might be missing that could make keeping this card worthwhile
The only thing is C1 appreciates customers who stick around, so if you ever want to apply for a better card later, it might be good to keep this one in your drawer since there’s no annual fee anyway
Johnstone said:
The only thing is C1 appreciates customers who stick around, so if you ever want to apply for a better card later, it might be good to keep this one in your drawer since there’s no annual fee anyway
We really don’t travel much, especially internationally, and I doubt that will change for the next 5 to 10 years so I don’t think I would apply for a better card.
Plus, I am really into cashback and no annual fee cards only since I don’t have the loyalty to specific brands and I don’t travel enough to make travel cards worth my time. The benefits that cover the annual fees are things I just wouldn’t use.
@Dany
Then it sounds like there’s no point in keeping it. Closing it won’t affect your average age of credit much and won’t hurt your credit score by much either.
If you don’t have another card that earns high rewards, you could consider using it for streaming services and maybe your internet bill (some codes get 3%, some don’t) or the occasional C1 Entertainment portal purchase at 8%.
Also, keep in mind it has no foreign transaction fees, so if you don’t have another card without those fees, it might come in handy.
@Brennan
I have several cards that give good rewards for streaming, but they are mostly video or TV-related. Spotify is the only streaming service I subscribe to and it does give me 3% on it, while others like the WF Autograph do not. But honestly, earning 3% on $16 a month just isn’t enough to keep a whole card open for me.
@Dany
Just to share, I had a C1 card that felt similar to yours. I don’t remember what it started as, but it has changed a few times now. Originally, it was something, then a Quicksilver, and now it’s my Savor.
My limit was stuck at $500 for a long time, and when I asked for increases, it would just be no or a tiny amount. I mostly kept it out of laziness and ended up using it now and then, and suddenly over the years, they bumped it to a $1,000 limit, then $3,000, and now it’s a $10,000 limit and my oldest card at around 16 years old.
I can’t say for sure if I escaped some bucket or if there was another reason for my increases, but it is possible for a card that seems stuck to become useful down the road. Plus, C1 appreciates long-term customers. Just using it once in a while could be beneficial. If nothing changes in a couple of years, then no harm in closing it.
That limit sounds odd. Mine started at around $2,000 and is now $12,000. It’s really useful for online shopping, especially for international purchases, as you don’t have to guess what category a place fits into—they cover restaurants, bars, groceries, streaming, concerts, and even places like Disney. Without a higher credit limit though, I get why you’re frustrated. Maybe there’s a fix for that?
@Quillan
I believe I was around 4/12 when I applied, so it was kind of an impulsive choice. I checked my credit score before applying and it showed a FICO of 780, but when they pulled it, they said I was around 730, so I lost the signup bonus and got a terrible interest rate and limit. I think I just got a poor outcome.
I mainly wanted it as a backup card with no foreign transaction fees, and to cover that one event category that was missing from my credit card setup, even if I don’t spend much there.
I already have most categories covered with the AMEX BCE for online shopping and the WF Autograph for travel, dining, and bars.
I would keep it. I wish I had kept my Quicksilver. I haven’t been able to get approved for another C1 card since I closed that nearly 7 years ago. I regret that decision.
Tracy said:
I would keep it. I wish I had kept my Quicksilver. I haven’t been able to get approved for another C1 card since I closed that nearly 7 years ago. I regret that decision.
Interesting. It sounds like closing it doesn’t really benefit me other than not having to think about it. I guess I could find some kind of monthly bill to put on it.
C1 is a significant player in the credit card space, so I wouldn’t close my only C1 card since it doesn’t cost anything to keep. Given your preference for cashback, the source of the 3% cashback shouldn’t concern you much. Why not add it to your digital wallet and use it now and then at the grocery store? You don’t even need to carry the physical card with you. Plus, the longer you hold onto the card and the more you use it, the greater the chance for an increase in credit limit. Keeping it seems to have more benefits.
@Taryn
That’s my point. The categories it covers are already matched or exceeded by my other cards. For groceries, I use my Citi Custom Cash for 5% back. For dining, I have the WF Autograph. The only value I could see is in events, but with my current limit, it’s not useful.
I might save a bit with the C1 for those smaller local tickets, but when I think about larger ticket events where I get more cashback, the 2% on my Citi DC isn’t that far from 3% on the C1. I think keeping track of one less card outweighs the minuscule return, though. I understand it might be better to keep it, but I am already at 9 cards and don’t want to add to that.
I can relate, as my Quicksilver has been stuck in a low limit since 2017. I’ve spent a lot on it multiple times and only got a $250 increase, so it’s now at $1,250. Eventually, I just stopped using it because I was like “Why are they so stingy”… After about 6 years of not using it, I applied for the Savor and they gave me a $10,000 limit…
It’s wild. If they had increased my Quicksilver earlier, I wouldn’t have stopped using them.
But I never did cancel my Quicksilver, even though I thought about it. I have some nostalgia for it, plus it’s a 1.5% card and even more if you find a deal through the C1 shopping portal.
Weighing the pros and cons for you is really important.