Combine Accounts Or Not?

[Anonymous]

Why dont you product change the Platinum to a Quicksilver then combine the Quicksilver One to the Quicksilver to have a no annual fee card with a decent limit?

[Anonymous]

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@Anonymous wrote:

Why dont you product change the Platinum to a Quicksilver then combine the Quicksilver One to the Quicksilver to have a no annual fee card with a decent limit?

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How do you product change? I know that the credit qualification for the Quicksilver is "excellent" according to their website, and I'm not quite at that level yet (low 600's). But that's a good strategic route to take, though. 

[Anonymous]

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@Anonymous wrote:

I have two Capital One accounts - Quicksilver One and Platinum Mastercard. This month's statement will mark the sixth month for each one, and both have grown to $1,300 credit line each. Now that they are at the six month mark, I am eligible to combine the accounts, which I would combine to the Quicksilver One account as to keep the cash back rewards. My question is, should I combine? Or is it better to have two different accounts? Why or why not?

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Because, you have plenty other aging revolving accounts FOR YOU combining makes sense (those building with limited TLs, different story)

As an earlier poster suggested I'd also FOR SURE PC the QS1 to a QS to negate the AF

(which they either do very easily or not, took me months, others bat an eye and they PC)

It also seems, that many have decent luck easily PC-ing a Plat to a QS......either way, you've skinned the same cat.

So, even if you aren't successful with the CLI request you can at least kill the AF......

*However, being that you are a grad student and assuming the AFs aren't about to be paid right now and you have other accounts....

I also don't see the 'harm' in letting them age seperately until Cap-1 is willing the CLI both prior to your combo play....what's the downside?

6 months will fly by....there isn't anything wrong with SD-ing one or both of those cards for bulk of the next 6 months....someone mentioned

utilization ratio but tat doesn't matter because a $2600 cushion of non used CLs  is a $2600 cushion just the same....if it's one card or two

from where you sit right now, there isn't a reason to RUSH combining these two cards IMO.....and you actually may beneift from the double growth,

prior to combo by waiting a bit.

PC them both or at least one to a QS ...then, After the next 6 month CLI opportunity, when they both bounce up...you may have a better shot at a monster CL

vs gambling on being stuck with a $2600 CL that might not grow.....at least by waiting you know you won't have LESS than a $2600 CL but if they both pop to $2000 separately you've got yourself a hot $4000 or possible a big enough CL (over 5k) to go siggy .....nothing to lose but to try at this point.

Good Luck

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Why dont you product change the Platinum to a Quicksilver then combine the Quicksilver One to the Quicksilver to have a no annual fee card with a decent limit?

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How do you product change? I know that the credit qualification for the Quicksilver is "excellent" according to their website, and I'm not quite at that level yet (low 600's). But that's a good strategic route to take, though. 

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PC are actually pretty simple...they'll let you know if you can or not.

It's more of an internal hogwash-nonsense thing vs credit IMO....(we've seen ppl PC from Plat to QS in one freaking month...like huh?...while others wait a year...so go figure)

Just call or SM ...chat or whatever that thing is called when you type crap to a schmoe in India or whatever (just jk around folks calm down)...anyway just

ask "Are there ANY offers of my account to upgrade yada yada' and they'll say yeah or nah...that's it either you can or you can't (some ppl yell up the pipeline but whatever) also let it be known that they won't 'waive' the AF untill it's time for it to hit...then they'll do half or give you a 'one time' waive and in my case actually get around to the darn PC to QS once the actual 1 year mark hit.

That's why if, all things being equal it's no biggie to allow both cards to opportunity to get one more CLI prior to the combo

plus it must be noted that just because it's been 6 months doesn't automatically mean you can combo even if you wanted to....again you have to check

to see IF that option is available at this time.

Hope that helps!

[Anonymous]

Go to the Capital One website and send a message to a rep. Tell them that you want to product change your Platinum to the Quicksilver. If they ask why or you want to tell them why, you can say that you want rewards on the card. They will tell you if you are eligible or not to do that Product Change. I have seen people product change from Platinum to Quicksilver (no annual fee) between a month to two months after getting approved for the Platinum, regardless of their credit score. 

You have had the Platinum for a lot longer and are more than likely eligible to product change to the Quicksilver. Taking into consideration that you have never made a late payment to Capital One.

[SouthJamaica]

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@Anonymous wrote:

I have two Capital One accounts - Quicksilver One and Platinum Mastercard. This month's statement will mark the sixth month for each one, and both have grown to $1,300 credit line each. Now that they are at the six month mark, I am eligible to combine the accounts, which I would combine to the Quicksilver One account as to keep the cash back rewards. My question is, should I combine? Or is it better to have two different accounts? Why or why not?

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When Capital One came up with the link for combining accounts, I rushed to combine 2 of my 5 accounts.

Afterwards, I haven't been able to think of a single good reason for having done so. I just did it because I could.

I can't think of a single good reason to do it in your case.

I think it's good to have multiple accounts, with multiple statement cut dates.

[Creditaddict]

You are far better off having a couple higher limit cards than 5 or 6 small limit cards!

[Anonymous]

UPDATE: I took the advice given and used the chat feature and asked for a product change on the Platinum Mastercard to a Quicksilver card with no annual fee, and they approved it!! Thank you SO MUCH for that tip and advice! Since it's a new/different card, do you think they would consider a CLI on it once I receive it in the mail? 

[Creditaddict]

Yes

[Anonymous]

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@Anonymous wrote:

UPDATE: I took the advice given and used the chat feature and asked for a product change on the Platinum Mastercard to a Quicksilver card with no annual fee, and they approved it!! Thank you SO MUCH for that tip and advice!

Since it's a new/different card, do you think they would consider a CLI on it once I receive it in the mail? 

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Nice try...gotta ask right?

Nah...it's just a PC....NOT a 'new' card....I like that you are a thinker but that ones been thought of already, no dice, nice try though

On the bright side, b/c it's just a PC the 'age' of the account stays the same...which is a plus.

Now you've got basically 'twin' $1300 cards as the QS1 and the QS are essentially the same card except for the AF ( same 1.5% etc)

but it's the same account just a 'change of product' the CLI thing will still apply

Congrats on the upgrade

Now if that card is older than the QS1 that you want to combo with...there's no need to PC it b/c you'll just cobine them anyway....even if it's just a few months

difference no biggie you've got a no AF QS as a landing spot either way...GREAT JOB!