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Capital One Card Consolidation

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Broke_Triathlete
Valued Contributor

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!


@UncleB wrote:

@Broke_Triathlete wrote:

@UncleB wrote:

@Anonymous wrote:

Just merged QS1 to QS. But...I don't think it's going to pan out with the eventual ending I wanted. I thought I would try to get the QS upgraded to a WMC, but I don't think Cap1 has a WMC to upgrade to. My QS was originally a Platinum MC, where most QS's are Visa. Oh well, at least I can clear one card off the list.


I have 'good news' for you Smokey... I have seen folks here in the forums (actually, more than one) that have a QuickSilver Mastercard that is a WMC.  Smiley Happy

 

From the best I could tell from the graphics in their signatures, the cards are quite attractive as well.  Instead of having the usual orange/yellow MC logo, it was silver/grey like the rest of the card.  At least one, if I can remember correctly (?) had to go the EO route to get the WMC designation, but he/she was successful


Uncle one of those people is me. My card originally started out as a $3K platinum with the annual fee. Then it went to QS1 and then to QS. Once it hit $5K I chatted with a rep if I could be upgraded to the WMC. They put the request in and it was approved. Fast forward to today and now I have an $11.5K QS WMC that started life out as the bottom of the barrel platinum they offer. This all has taken place within 1 year. In fact my 1 year anniversary was a couple of days ago.

 

So Smokey just get that QS up to $5K and put a request in to have it made into a WMC. Smiley Happy

 

Uncle this is a pic of my WMC that I just took. The old non chipped version was that subdued MC logo, but the chipped one is the normal logo. 

 

image.jpg


Awesome!  I'm glad I got almost everything correct, other than the color of the logo... LOL  Smiley Happy

 

I think there might be a pic floating around somewhere of somebody with a WMC, with a chip, that still has the silver logo, but I won't swear on it... heck, there's another thread going where folks are saying they are getting both Venture and Venture One (!) cards made of metal... I won't swear to anything these days!

 

Hopefully just being a WMC will be good enough for the poster that was asking about it.


Hmm I want a metal card...haha. 

 

No worries my friend! I was all hyped up on a prowl to try to get the "world" insignia on my card. Now that I have it, I don't even use it. I guess it's a clout thing. Hell I don't even know what the real benefits are, and don't even care to look them up...haha. 

Personal:

Business:


Message 961 of 2,133
FinStar
Moderator Emeritus

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!


@kdm31091 wrote:

@FinStar wrote:

@kdm31091 wrote:
Jeez. 60k is a bit excessive. Asking for trouble.

I don't think so.  If that individual's profile supports it (income/DTI, AAoA, overall CR profile, etc.), then the issuer would likely not even bat an eye.  For high income earners (assuming that individual might be), why should there be a penalty with an already established record with a variety of those high CL lenders?  Would you penalize someone who obtains a $100K on a Palladium (which can go over 2X their CL?).

 

Maybe to you it may seem like it's inviting trouble but then again you have no familiarity with managing high CLs.  Likewise, IME, I have no issue managing a high spend profile let alone high CLs.  For instance, my recently merged/approved Fidelity AMEX is $50K, BOA/FIA had 0 issues.  Plus, my other high CLs are also in the $20K - $40K range.  I'm sure others with similar profiles can identify.


You're coming off a bit rude with "no familiarity managing high CLs" though I'm sure you don't mean it in a rude sense. I have several limits that I consider large. I would never even want $60k on a credit card because I have no use for it.

 

Yes, I get that someone with a very large income may end up with a $60k CL. But it is far from the norm. And to me, it's not so much the limit itself, it's more that the limit was artificially created with merging....Capital One did not approve the person for $60k. Now, will it be a problem? Probably not. But to me, the higher your limits get, the more you are going to be watched by issuers.

 

You don't see many approvals for $60k for anyone...it's usually something created with moving limits. Anyway, whatever works for someone is all that matters.


No one is coming off rude - take it down a notch.  It appears you're being too sensitive and reading too much into that comment.  Just because you got a CLI on Double Cash (since everyone seems to do so if a low SL is granted - i.e. you pretty much went along with the rest of the crowd by hitting up the EO); and your highest CL may be with AMEX doesn't mean you have experience with high, frequent usage.  Let's face it, you're certainly not spending upwards of $10K to $20K+ per month (and PIF) which is what my response was correlated to.  Someone who does that frequently would benefit from having the flexibily of a larger CL which would not necessarily be placed on some sort of a nanny watch list.   I'm sure you're familiar with upper income or wealthy individuals who have wealth management relationships with lots of banks and have access to a variety cash management products which includes high CL CCs.  So, to someone in that bracket, getting approved for $50K (or higher) is the norm.  It's all about capacity and repayment resources.  

Message 962 of 2,133
UncleB
Credit Mentor

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!


@FinStar wrote:

@kdm31091 wrote:

@FinStar wrote:

@kdm31091 wrote:
Jeez.60k is a bit excessive. Asking for trouble.

I don't think so.  If that individual's profile supports it (income/DTI, AAoA, overall CR profile, etc.), then the issuer would likely not even bat an eye.  For high income earners (assuming that individual might be), why should there be a penalty with an already established record with a variety of those high CL lenders?  Would you penalize someone who obtains a $100K on a Palladium (which can go over 2X their CL?).

 

Maybe to you it may seem like it's inviting trouble but then again you have no familiarity with managing high CLs.  Likewise, IME, I have no issue managing a high spend profile let alone high CLs.  For instance, my recently merged/approved Fidelity AMEX is $50K, BOA/FIA had 0 issues.  Plus, my other high CLs are also in the $20K - $40K range.  I'm sure others with similar profiles can identify.


You're coming off a bit rude with "no familiarity managing high CLs" though I'm sure you don't mean it in a rude sense. I have several limits that I consider large. I would never even want $60k on a credit card because I have no use for it.

 

Yes, I get that someone with a very large income may end up with a $60k CL. But it is far from the norm. And to me, it's not so much the limit itself, it's more that the limit was artificially created with merging....Capital One did not approve the person for $60k. Now, will it be a problem? Probably not. But to me, the higher your limits get, the more you are going to be watched by issuers.

 

You don't see many approvals for $60k for anyone...it's usually something created with moving limits. Anyway, whatever works for someone is all that matters.


No one is coming off rude - take it down a notch.  It appears you're being too sensitive and reading too much into that comment.  Just because you got a CLI on Double Cash (since everyone seems to do so if a low SL is granted - i.e. you pretty much went along with the rest of the crowd by hitting up the EO); and your highest CL may be with AMEX doesn't mean you have experience with high, frequent usage.  Let's face it, you're certainly not spending upwards of $10K to $20K+ per month (and PIF) which is what my response was correlated to.  Someone who does that frequently would benefit from having the flexibily of a larger CL which would not necessarily be placed on some sort of a nanny watch list.   I'm sure you're familiar with upper income or wealthy individuals who have wealth management relationships with lots of banks and have access to a variety cash management products which includes high CL CCs.  So, to someone in that bracket, getting approved for $50K (or higher) is the norm.  It's all about capacity and repayment resources.  


If it were me... if this conversation were about my *own* large Capital One credit lines, I would be much more concerned with how Capital One will handle it going forward.  While there are some around, it's not like they have been known for passing out huge credit lines just because somebody asks.  Like I mentioned above, if they become more like Amex and penalize folks for using the big credit line they won't be worth much. There's just not many data-points around on Capital One and $50K credit lines to make an accurate judgement call at this point.

 

I've always felt better when I stay 'under the radar' with any lender, regardless of my financial means, but that's just me

Message 963 of 2,133
Anonymous
Not applicable

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!

I don't think FinStar was/is being rude.  It's a fact that people's perceptions of what constitutes a very high CL is colored by their own experiences, income, net worth, etc.  It doesn't mean that a person with a $60K CL is somehow better then one with $10K.  It's what you do with those limits that matters.  For some people a high CL like $60K is a necessity based on their spending habits.  

 

Ill take note with with the point that CapOne didn't 'approve' the $60K limit.  Well yes they did by allowing the person to combine the limits.  If they didn't want that to happen they would have put additional limits on the consolidation criteria to set a cap on limits.  If a creditor gives you two $30K credit cards they really in effect have set your credit limit at $60K.  How difficult is it to split up a charge into 2 cards?  Not very difficult .  CapOne is just making it a simpler process.

Message 964 of 2,133
kdm31091
Super Contributor

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!


@FinStar wrote:

@kdm31091 wrote:

@FinStar wrote:

@kdm31091 wrote:
Jeez. 60k is a bit excessive. Asking for trouble.

I don't think so.  If that individual's profile supports it (income/DTI, AAoA, overall CR profile, etc.), then the issuer would likely not even bat an eye.  For high income earners (assuming that individual might be), why should there be a penalty with an already established record with a variety of those high CL lenders?  Would you penalize someone who obtains a $100K on a Palladium (which can go over 2X their CL?).

 

Maybe to you it may seem like it's inviting trouble but then again you have no familiarity with managing high CLs.  Likewise, IME, I have no issue managing a high spend profile let alone high CLs.  For instance, my recently merged/approved Fidelity AMEX is $50K, BOA/FIA had 0 issues.  Plus, my other high CLs are also in the $20K - $40K range.  I'm sure others with similar profiles can identify.


You're coming off a bit rude with "no familiarity managing high CLs" though I'm sure you don't mean it in a rude sense. I have several limits that I consider large. I would never even want $60k on a credit card because I have no use for it.

 

Yes, I get that someone with a very large income may end up with a $60k CL. But it is far from the norm. And to me, it's not so much the limit itself, it's more that the limit was artificially created with merging....Capital One did not approve the person for $60k. Now, will it be a problem? Probably not. But to me, the higher your limits get, the more you are going to be watched by issuers.

 

You don't see many approvals for $60k for anyone...it's usually something created with moving limits. Anyway, whatever works for someone is all that matters.


No one is coming off rude - take it down a notch.  It appears you're being too sensitive and reading too much into that comment.  Just because you got a CLI on Double Cash (since everyone seems to do so if a low SL is granted - i.e. you pretty much went along with the rest of the crowd by hitting up the EO); and your highest CL may be with AMEX doesn't mean you have experience with high, frequent usage.  Let's face it, you're certainly not spending upwards of $10K to $20K+ per month (and PIF) which is what my response was correlated to.  Someone who does that frequently would benefit from having the flexibily of a larger CL which would not necessarily be placed on some sort of a nanny watch list.   I'm sure you're familiar with upper income or wealthy individuals who have wealth management relationships with lots of banks and have access to a variety cash management products which includes high CL CCs.  So, to someone in that bracket, getting approved for $50K (or higher) is the norm.  It's all about capacity and repayment resources.  


Right...but people spending $20k a month and PIF are a minority. Most people do not have anywhere near that kind of income.

 

My point was more "for the average person, 60k is pushing it for a limit" and is only going to make the lender watch you more closely. It's overkill, in my opinion. But that's just my opinion and I don't have to be the one to live with such a large limit (and therefore, a large risk for the bank, which is the point of why they'd be watching). Let's face it: plenty of people who applied and merged and such to end up with 50-60k do not make/spend/PIF $20k a month and are simply people with rather average to somewhat above average credit/incomes who have merged lines to create huge limits. Which is fine but not the same as the demographic you are speaking of, which is the actual wealthy people.

 

As far as my Double Cash - yes, I took the 2nd HP because approving me for $2k at this point was unusable. I have never said "I think nobody should contact the EO"...I have other cards with long established limits, so it made sense to see what Citi could do. My problem is people who have just started off with credit, got a Cap One for 500, and want it upped to $10k overnight. They think they can just call EO and have everything right away.

 

As for Irish, I like your comment, the only thing I can say is no credit limit is a "necessity" as we can spend money just fine without them. They just provide added bonuses.

Message 965 of 2,133
FinStar
Moderator Emeritus

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!

Thanks Irish. I wasn't being rude in my response (sorry if kdm perceived it that way), it was just a simple illustration of the point of high income earners correlated to high CLs and moderate to high usage.

And, yes, that's another perspective that I was trying to bring across, especially with combining CLs that would yield anything > $50,000 on any individual account.

Message 966 of 2,133
coldnmn
Mega Contributor

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!

Smiley Indifferent My opinion only! Combining rebuilder cards into a usable card or with a good APR is a good thing. Combining cards for an example $50k income and a $50k CL not so much. Lets face it computers are feed information into an algorithm if something doesn't seem right it gets kicked out for review. Chances of having a $50k income and a $10k CL on a single card reduces the possiblity of review by computer that is told what to look for. It's doubtful the algorithm is feed to look out for multiple cards from same card company and combine the limits and kick it out for review because of total exposure. I'm mainly talking about accounts from other creditors not necessarily Cap1. I'm talking about CLD from other creditors becoming a domino effect because of total credit risk on unsecured debt.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 967 of 2,133
Anonymous
Not applicable

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!

Regarding the ability to combine HSBC/Orchard/etc (cards that Cap One wishes never existed and treats like redheaded stepchildren) - I am totally unable to. I have a QS1 and a Platinum that were converted from HSBC, and my wife has two platinums that were both HSBC. They are all 0 balance, no pending, and older than 6 months. Can't combine any of them.

 

I chatted with Cap One with the usual (non) results. The rep told me there were factors they couldn't disclose as to why I couldn't combine my accounts. Who knows if that's true or not, but it wouldn't suprise me that there are some restrictions on what cards can and can't be combined. That would just continue Cap One's tradition of treating subprime cards differently than others.

Message 968 of 2,133
jacetx
Valued Contributor

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!


@Anonymous wrote:

Regarding the ability to combine HSBC/Orchard/etc (cards that Cap One wishes never existed and treats like redheaded stepchildren) - I am totally unable to. I have a QS1 and a Platinum that were converted from HSBC, and my wife has two platinums that were both HSBC. They are all 0 balance, no pending, and older than 6 months. Can't combine any of them.

 

I chatted with Cap One with the usual (non) results. The rep told me there were factors they couldn't disclose as to why I couldn't combine my accounts. Who knows if that's true or not, but it wouldn't suprise me that there are some restrictions on what cards can and can't be combined. That would just continue Cap One's tradition of treating subprime cards differently than others.


None of my cards were HSBC/Orchard before and I can't combine either. I converted my Platinum MC and Journey to QS, so they were issued originally by Cap One. Hopefully they will have this fixed soon.

Message 969 of 2,133
kdm31091
Super Contributor

Re: Capital One Credit Line Consolidation LINK IS BACK UP!!!


@coldnmn wrote:

Smiley Indifferent My opinion only! Combining rebuilder cards into a usable card or with a good APR is a good thing. Combining cards for an example $50k income and a $50k CL not so much. Lets face it computers are feed information into an algorithm if something doesn't seem right it gets kicked out for review. Chances of having a $50k income and a $10k CL on a single card reduces the possiblity of review by computer that is told what to look for. It's doubtful the algorithm is feed to look out for multiple cards from same card company and combine the limits and kick it out for review because of total exposure. I'm mainly talking about accounts from other creditors not necessarily Cap1. I'm talking about CLD from other creditors becoming a domino effect because of total credit risk on unsecured debt.


This is more what I was talking about. Finstar was referring to wealthier folks with large incomes who can afford to spend 20k a month and PIF. Those people would absolutely benefit from a 50k CL.

 

The problem is, we know those people are a minority, and no disrespect to anyone here but plenty of people here who merged limits to make a 50k limit do indeed have an income far closer to the 50k you cited, or at least far closer to an "average" mark, which is what I meant with it being potentially dangerous. But oh well. They have to do what's best for them. I just hope nobody is too upset when/if something happens because we see it over and over. Everytime a creditor is seemingly just "giving out" huge limits, fireworks happen down the road, and then we'll have people crying about how they will never use Cap One again. But we will see what pans out.

Message 970 of 2,133
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