Cap One product change and combining questions

[romeo]

So I have a Cap One QS1 and a platinum mastercard with decent limits.  I jumped on chat tonight and asked to have the platinum changed over to QS.  They did the PC and I'm pretty happy! I now plan to combine both account to the new QS as It will eliminate my AF on the QS1 and give me a nice new limit close to $12k.  Now the question is, since I'm 2 months away from my next LUV button, should I wait until after I get a CLI to combine? Or if I combine now, will I still be eligible for a CLI in 2 months?

Also these 2 cards are my pretty much my only 2 cards.  I have another store card with Bob's Furniture through Wells Fargo but that's it.  Should I apply for more cards before combining? I would like to eventually get an AMEX Blue cash preferred and Discover has been sending me prequalification letters.  Not sure what to do to not hurt my score too much.  Any advice is appreciated!

[CH-7-Mission-Accomplished]

Yes, you should wait and get your CLI before combining.  Once combined you have to wait.  Also, once the card is combined, you may have to show even higher usage to get them to grant more CLI's.

Also, you want to make sure that you never have less than three revolving cards reporting, so you should get one or two more.  Barclay's might be a good choice for one.

[Anonymous]

Have you looked at cap one pre-qual?  No idea what your scores are, but you may find Venture or QS VS.  I would wait for next CLI before combining the QSs since it's only 2 months off, but I don't know that it makes any difference.

Welcome to myFICO!

[romeo]

Thanks for the reply guys! It seems like the best option is to wait after the CLI.  I'll take a look at the Barclays as an alternative card in the meantime.

I didn't look at the pre-qual offers with cap one, I just jumped on chat to see if they would do the PC.  They asked me for some quick verification info and came back with the QS. lI'll take a look now though.

Thanks again!

[Anonymous]

Hey romeo! I think you made a good decision to wait until after your CLI in 2 months to combine your Cap 1 cards. After combining your accounts, you have to wait 6 months to be eligible for another CLI.

With regards to applying for another account, I would use spend as one of your criteria in your research. IDK if the "3 account" rule is true so you may want to do some research on it. I know folks that only have one card and are completely satisfied with their decision. Good luck!