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Cap1 - Effect of combining two cards opened a few months apart?

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Anonymous
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Cap1 - Effect of combining two cards opened a few months apart?

Hey all, 

I have two capital1 cards, a QS MC with a $3,500 limit (raised from initial $500) and a QS1 Visa with a $5,000 limit, opened approximately two months apart.  These are my first cards since fixing my credit report from my bad decisions as a youthful idiot Smiley Wink 

 

I got the QSMC because I needed an actual credit card for a trip even though I knew I was only a few weeks from my last derogatory item dropping off of my report, and got the QS1V shortly after.  I feel like I should combine the QSMC into the QS1 once they're both 6 months old so I can get rid of the annual fee and have things make a bit more sense than having one card I never use (the MC) and one card I use for everything, but I don't know what effect this would have on my average age of accounts (does it only count the open ones?) and score in general. 

 

my latest 3B pull from myfico states the following: 

 

EQ 758, TU 769, EX 754

 

Payment history:    Very good (eq), exceptional (TU), very good (experian)  [DUnno why transunion says exceptional vs very good, they have the same data, and I've never missed a payment on anything still on my record...]

 

debt amount :  very good (all)  (student loan balance slightly over $30k, in good standing)

Length of credit history:  Fair (all)

New credit: fair (all) 

 


Negative factors: 

The remaining balance on your mortgage or non-mortgage installment loans is too high. (all - not worried about this one as the interest rate is hilariously low and I'd be a fool to pay it off any faster than I have to)
   
You have few accounts that are in good standing. (EQ, EX)     This is the one that has me hesitating to combine the cards.

 

 

Any input appreciated. 
  
 
 

 

Message 1 of 3
2 REPLIES 2
taxi818
Super Contributor

Re: Cap1 - Effect of combining two cards opened a few months apart?


@Anonymous wrote:

Hey all, 

I have two capital1 cards, a QS MC with a $3,500 limit (raised from initial $500) and a QS1 Visa with a $5,000 limit, opened approximately two months apart.  These are my first cards since fixing my credit report from my bad decisions as a youthful idiot Smiley Wink 

 

I got the QSMC because I needed an actual credit card for a trip even though I knew I was only a few weeks from my last derogatory item dropping off of my report, and got the QS1V shortly after.  I feel like I should combine the QSMC into the QS1 once they're both 6 months old so I can get rid of the annual fee and have things make a bit more sense than having one card I never use (the MC) and one card I use for everything, but I don't know what effect this would have on my average age of accounts (does it only count the open ones?) and score in general. 

 

my latest 3B pull from myfico states the following: 

 

EQ 758, TU 769, EX 754

 

Payment history:    Very good (eq), exceptional (TU), very good (experian)  [DUnno why transunion says exceptional vs very good, they have the same data, and I've never missed a payment on anything still on my record...]

 

debt amount :  very good (all)  (student loan balance slightly over $30k, in good standing)

Length of credit history:  Fair (all)

New credit: fair (all) 

 


Negative factors: 

The remaining balance on your mortgage or non-mortgage installment loans is too high. (all - not worried about this one as the interest rate is hilariously low and I'd be a fool to pay it off any faster than I have to)
   
You have few accounts that are in good standing. (EQ, EX)     This is the one that has me hesitating to combine the cards.

 

 

Any input appreciated. 
  
 
 

 


Nothing on your report has nothing to do with you combining your cards. if they are 6 months old with no balance then you can do it. just that easy and simple. if you were not late on anything im also curious why your report only says very good. I have never missed a payment either and all 3 says exceptional. Remember this is all with cap one internal information when combining. they dont care what factors is not allowing you to have a 850 fico scores. all your scores are excellent so you will be good to go no matter what.

Message 2 of 3
woodyman100
Valued Contributor

Re: Cap1 - Effect of combining two cards opened a few months apart?


@taxi818 wrote:

@Anonymous wrote:

Hey all, 

I have two capital1 cards, a QS MC with a $3,500 limit (raised from initial $500) and a QS1 Visa with a $5,000 limit, opened approximately two months apart.  These are my first cards since fixing my credit report from my bad decisions as a youthful idiot Smiley Wink 

 

I got the QSMC because I needed an actual credit card for a trip even though I knew I was only a few weeks from my last derogatory item dropping off of my report, and got the QS1V shortly after.  I feel like I should combine the QSMC into the QS1 once they're both 6 months old so I can get rid of the annual fee and have things make a bit more sense than having one card I never use (the MC) and one card I use for everything, but I don't know what effect this would have on my average age of accounts (does it only count the open ones?) and score in general. 

 

my latest 3B pull from myfico states the following: 

 

EQ 758, TU 769, EX 754

 

Payment history:    Very good (eq), exceptional (TU), very good (experian)  [DUnno why transunion says exceptional vs very good, they have the same data, and I've never missed a payment on anything still on my record...]

 

debt amount :  very good (all)  (student loan balance slightly over $30k, in good standing)

Length of credit history:  Fair (all)

New credit: fair (all) 

 


Negative factors: 

The remaining balance on your mortgage or non-mortgage installment loans is too high. (all - not worried about this one as the interest rate is hilariously low and I'd be a fool to pay it off any faster than I have to)
   
You have few accounts that are in good standing. (EQ, EX)     This is the one that has me hesitating to combine the cards.

 

 

Any input appreciated. 
  
 
 

 


Nothing on your report has nothing to do with you combining your cards. if they are 6 months old with no balance then you can do it. just that easy and simple. if you were not late on anything im also curious why your report only says very good. I have never missed a payment either and all 3 says exceptional. Remember this is all with cap one internal information when combining. they dont care what factors is not allowing you to have a 850 fico scores. all your scores are excellent so you will be good to go no matter what.


Nailed it!^^^^

 

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