@tim1017 wrote:
Any draw backs from PC'ing two Cap One cards into one Venture? I'd like to combine the cards' limits to a Venture but read on another thread it could be bad as in the Venture would get coded as a sub-prime card? Can't remember specifically. Just curious as I want to use the spending I do to gain travel advantages/rewards.
Drawbacks: (1) Venture has an annual fee; if you're not currently paying any, that might be bad. You might be better off with QuickSilver
(2) PC won't get you sign-up bonus; so there's $400 worth of points (possibly)
Cap One won't combine limits, no matter how much you try to beg or threaten. You can (if they allow it) PC them to two different cards, say a Venture or VentureOne and a QuickSilver or something like that. Or maybe just close one of them.
@kdm31091 wrote:
First. Capital one doesn't combine limits. They simply won't do it, so you can't go from two accounts to one unless you're closing one completely.
Second I'm not sure what you mean by "coded as sub prime". Coded by whom? Sub prime can be a subjective thing. I've never heard of the Venture card being considered "sub prime" by anyone. That is usually reserved for cards like FP or Credit One -- the ones with crazy fees, 30% APR etc.
I guess by "sub-prime" OP means coded as a beginner card.
It does happen with Cap One. If you start with their lower tier cards, it's been anecdotally noted (and it's happening with me) that they'll upgrade you to a higher reward structure but not give you the limits and terms of the new card. Getting a CLI will be a PITA and APRs could be as high as 24.9% (yes, that's what it is on my QuickSilver, and I had to call EO twice to get a 2k platinum turned QS to a 6k QS).
So yes, internally, Cap One does mark your card as prime or sub-prime, and no, they don't grow with your credit profile.
In this regard, it's similar to Chase. If you get a Chase Freedom as a "sub-prime" customer (again, own experience), with $500 limits and 22.99% APR, it's going to see infrequent CLIs (you'll have to transfer limits from other cards) and will almost never get any APR reduction.
