Capital One Credit Limit Increase question

[Anonymous]

The threshold to be product changed into a card is typically far lower that when applying cold, becasue there are no minimum limits to consider and they're not giving you the sign-up bonus - I'm willing to bet that it would be equally easy to PC into the PRD as the QS...and it's really easy to PC into the QS, I did so 2 months post ch7 discharge.

Good Luck!

[Anonymous]

+1 Tigerhawk! I Pc'ed my platinum into a quicksilver with no AF at 3 months. Had I have cold apped for that card it would have been a no go as I am only at around 664/635/642 Fico wise. Now, I have a 1.5% cash back card but I just had to be ok with no sign on bonus.

[rmduhon]

Combining the cards won't affect your AAoA since the closed account will stay on your reports for about another 10 years. And for optimal scoring you only need 3 cards. Just thought I'd throw that out.

[Anonymous]

If I decide to combine my 2 cards and assuming they closeout the secured one, what happens to my cash securement?

[rmduhon]

They'll return it.

[Anonymous]

UPDATE:

Just got off phone with Cap1. I asked the rep about combining my 2 plats. Was told that my secured plat cannot be combined at this time. However, she stated that Cap1 is looking at the possibility of unsecuring secured cards but couldn't give a timeframe. So combining my 2 plats is not going to happen until my secured status is changed.

In other happy news, I applied for a QS and was approved for $1k! After 6 months of good behavior with my QS, i can combine that with my unsecured plat.

Nice people at Cap1. The rep I spoke with had a cute giggle too...lol

So now ill have 5 cards, 2 being rewards cards, 1 secured and 2 standard. Total CL about $8250. Not bad for having wrecked credit 20 months ago!

[Anonymous]

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@Anonymous wrote:
UPDATE:

Just got off phone with Cap1. I asked the rep about combining my 2 plats. Was told that my secured plat cannot be combined at this time. However, she stated that Cap1 is looking at the possibility of unsecuring secured cards but couldn't give a timeframe. So combining my 2 plats is not going to happen until my secured status is changed.

In other happy news, I applied for a QS and was approved for $1k! After 6 months of good behavior with my QS, i can combine that with my unsecured plat.

Nice people at Cap1. The rep I spoke with had a cute giggle too...lol

So now ill have 5 cards, 2 being rewards cards, 1 secured and 2 standard. Total CL about $8250. Not bad for having wrecked credit 20 months ago!

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I misread your earlier post in that I thought your secured card had already graduated (unsecured) - sorry about that

Grats on the approval!...however you seem to have missed what I was trying to suggest - you may be able to transform your existing planinum in to a QS without going through a new application...if the topic didn't come up during your call, I'd recommend getting online  with the chat feature and just seeing if they might do that for you - after all you want rewards on ALL your spend, right?

Good Luck!

[Anonymous]

Thanks @tygerhawke. I got what you were saying about transforming my unsecred plat. Couldnt do it today as there is still $60 on it that will get paid this week.

The rep and i discussed it and I decided to just app for a QS while i was on the phone. I know it did a Hard inq but that's ok.

My plan for car loan wont be worked on til much later this year anyway. I have 3 hard inquiries fall my CR by December anyway. I'll just Garden for the rest of the year.

I still hv the option of converting this plat anyway anytime i want after i hit $0 balance.

[rmduhon]

You don't have to have a zero balance to PC to a QS.

[Anonymous]

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@rmduhon wrote:
You don't have to have a zero balance to PC to a QS.

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+1... I had a $26 balance in mine when I PC'ed my Plat to QS yesterday. Rep was super nice and helpful, took seriously about 2 minutes from beginning to end of call.