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I had to reitterate multiple times that I called earlier today and got a confirmation. But she finally found noticed it and put me on hold...We will see. I assume it was some sort of error and I will be getting the initial CLI that I had before. Which is fine, but not the news I wanted haha.
I know new features many times can be 'buggy', but it looks like they pulled this one just in time. The few folks that actually made the window seem to all have problems and confusion.
Hopefully they can 'get it right' and have it back online soon.
I read on another board that a member got his lines fixed after combining them.
I just got off chat with a rep and he did acknowledge that they're working on it, and that we'll be notified by email when it's up and working again.
Update: My problem is all sorted now. I missed the call that Capital One promised as I'm busy working abroad at the moment, but I logged in today and saw that my limit is now at $21k as it should have been originally.
Glad they got it sorted!
@CreditJim wrote:Update: My problem is all sorted now. I missed the call that Capital One promised as I'm busy working abroad at the moment, but I logged in today and saw that my limit is now at $21k as it should have been originally.
Glad they got it sorted!
Glad it got sorted out for you.... Now they need to hurry up and return the "combine button"...
Is their any negative affects of combining cards ? Do you lose positive trade lines ? Does it come up as closed account ?
@Anonymous wrote:Is their any negative affects of combining cards ? Do you lose positive trade lines ? Does it come up as closed account ?
The card that you combine from will come up as a closed account on your CRs. At least that's what happened with my Chase Slate.
The potential upside is getting a card that has a better spending power. For some, getting a $30k or $50k card feels like a milestone Also, if you had multiple annual-fee cards, you could bundle them to reduce or eliminate the AF. Or increase the limit on the lowest APR / best reward card. Also, a high limit card with Cap One might make you feel more attractive to other lenders for their premium cards.
The downsides are a bit hard to quantify. For one, getting a very large limit (when compared to your other cards) might look odd to some lenders (speculation). There's more (possible) room for CLD / AA (though apparently Cap One isn't known for this). If you combine and close a bunch of recently opened cards, Cap One and other lenders may deem you as a churner. Credit reports do not report card consolidation. If B is merged into A, it shows a CLI for A and a closure for B. Another possible pitfall is the number of cards on which you could let a balance report. Apparently the number is ideally 1 and at max 50% of your total tradelines (can't vouch for that 50%, maybe 40%, maybe 60%). So, if you had 10 cards and were carrying a balance on 4, you were not ideal but neither risky. If you merged 2 of those into a third Cap One card, now you're carrying a balance on 4 of 8 cards, and you're risky.
Secured MasterCard (CL: $750) is my oldest credit card TL, but I don't use it anymore (APR 29.9% - Not that I revolve, but still!). The annual fee ($29) just hit and I'm thinking about canceling it within the week or so.
Does anybody have an estimate on when "Merge accounts" button will reappear? I'd like to merge with my QS. Thanks!