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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.
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!!!
We are finally homeowners!!
Closed May 5th-30 yr fixed at 5.25%.
We are finally homeowners!!
Closed May 5th-30 yr fixed at 5.25%.
@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.
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
@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.
We are finally homeowners!!
Closed May 5th-30 yr fixed at 5.25%.
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.
@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!!
We are finally homeowners!!
Closed May 5th-30 yr fixed at 5.25%.
@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!
We are finally homeowners!!
Closed May 5th-30 yr fixed at 5.25%.