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Combining Cap one cards

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WannaHouse
Valued Contributor

Combining Cap one cards

I know there are several threads about this topic, but the newest post at all is like Jan of 2009. In the state we are in, I wanted some fresh stuff.  Smiley Happy

 I have 2 Cap one cards. They both have high balances right now because we just bought a house and have used them for materials to make improvements.

 

The question is: Should I combine them to get a higher limit?

The first one I got 4/08 and it is sitting at 750. I called for an increase and they said no can do. I guess it is at it's max limit?? (never paid late)

 

The second one I got 2/09 and it's a credit steps. (500 cl new) Got an increase to 1K on 4th statement, and suppose to get another one soon to 1500.

 

So, would you combine these?? I do plan on paying these down as soon as we get the 8K for buying the house. (should be soon...mailed 5/709)

 

 

 

Thanks MyFico experts!!!  Smiley Happy

Message Edited by WannaHouse on 07-24-2009 02:39 PM

Kathy


We are finally homeowners!!

Closed May 5th-30 yr fixed at 5.25%.

Message 1 of 9
8 REPLIES 8
pattycake
Established Contributor

Re: Combining Cap one cards

Hey, Wanna - the only thing you can do is call them and ask!  I combined mine a while back - the worst they can do is say no, right?
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Message 2 of 9
WannaHouse
Valued Contributor

Re: Combining Cap one cards

Well, you're right there!! LOL I just don't want to waste 3 pulls if they are gonna say no anyway. My mortgage broker went "pull" happy on me and I have ALOT of inqs!

Kathy


We are finally homeowners!!

Closed May 5th-30 yr fixed at 5.25%.

Message 3 of 9
pattycake
Established Contributor

Re: Combining Cap one cards


@WannaHouse wrote:
Well, you're right there!! LOL I just don't want to waste 3 pulls if they are gonna say no anyway. My mortgage broker went "pull" happy on me and I have ALOT of inqs!
All your mortgage pulls should be combined into one for FICO scoring purposes.
Cap One didn't do any pulls to combine my two accounts into one.  They just did it based on my payment history with them.   

 

pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Message 4 of 9
gamblerx15
New Contributor

Re: Combining Cap one cards

I would wait for your last credit steps to kick in then combine as that could jepordize your last increase,  started about 18 months ago with a new cap one card fresh out of a bk got my credit steps card went to 1800, then I opened a new one with credit steps went to 3750 combined them and have a 5400 limit card waited 6 months got another one in the mail today after credit steps will combine them as well for about a 7500 limit card. They are not giving customer initiated credit increases at this time. so this is a back door method to getting a higher limit.

 

hope this helps


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Message 5 of 9
WannaHouse
Valued Contributor

Re: Combining Cap one cards


@pattycake wrote:

@WannaHouse wrote:
Well, you're right there!! LOL I just don't want to waste 3 pulls if they are gonna say no anyway. My mortgage broker went "pull" happy on me and I have ALOT of inqs!
All your mortgage pulls should be combined into one for FICO scoring purposes.
Cap One didn't do any pulls to combine my two accounts into one.  They just did it based on my payment history with them.   

 


Unfortunely, not the case here. I haveabout 10 pulls, but they are all spaced out. Our initial pre qual was in Sept 08. at that time, we apped at like 4 places, so they are looked at as a singe pull. BUT, then in Oct, USDA and Chase did a pull. Then my Broker decided to pull again in Feb and Mar and April!! Why, I have no idea. Then Chase (I think) pulled right before closing. Then in We finally closed May...so no more pulls now.

 

So, needless to say...I have WAY too many inq right now. Smiley Mad


Kathy


We are finally homeowners!!

Closed May 5th-30 yr fixed at 5.25%.

Message 6 of 9
Anonymous
Not applicable

Re: Combining Cap one cards

cap1 are jerks if you have a old card  and apply a better card to combine and keep the new terms you will have to close the old account  and they don't transfer the age to the new acount and don't remove the old tradeline.

benn there done that.

Message 7 of 9
WannaHouse
Valued Contributor

Re: Combining Cap one cards


@gamblerx15 wrote:

I would wait for your last credit steps to kick in then combine as that could jepordize your last increase,  started about 18 months ago with a new cap one card fresh out of a bk got my credit steps card went to 1800, then I opened a new one with credit steps went to 3750 combined them and have a 5400 limit card waited 6 months got another one in the mail today after credit steps will combine them as well for about a 7500 limit card. They are not giving customer initiated credit increases at this time. so this is a back door method to getting a higher limit.

 

hope this helps


This sounds good! I will give it a go.

 

Thanks!!  Smiley Happy


Kathy


We are finally homeowners!!

Closed May 5th-30 yr fixed at 5.25%.

Message 8 of 9
WannaHouse
Valued Contributor

Re: Combining Cap one cards


@pattycake wrote:

@WannaHouse wrote:
Well, you're right there!! LOL I just don't want to waste 3 pulls if they are gonna say no anyway. My mortgage broker went "pull" happy on me and I have ALOT of inqs!
All your mortgage pulls should be combined into one for FICO scoring purposes.
Cap One didn't do any pulls to combine my two accounts into one.  They just did it based on my payment history with them.   

 


Here's my pulls on TU:

 

May 04, 2009 Thd/Cbsd

April 09, 2009 Cbdelmarva

March 31, 2009

Chase March 16, 2009

Landsafe February 24,

2009 Factl Dta

February 06, 2009

Cap One February 03,2009

Ems October 27, 2008

Chase October 06, 2008

Cbcinnovis October 06, 2008

Cbdelmarva September 15, 2008

Factl Dta September 08, 2008

Fhut/Cit September 08, 2008

Cap One September 08, 2008

Sarma-Ncs September 03, 2008

Mda August 18, 2008

Gemb/Walma August 11, 2008

Gemb/Oldny August 11, 2008

Gemb/Gap  August 11, 2008

 

 

MOST of these are all related to our Mortgage! Smiley Mad


Kathy


We are finally homeowners!!

Closed May 5th-30 yr fixed at 5.25%.

Message 9 of 9
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