Does combining cards improve your credit?

[Anonymous]

I have 2 quicksilver cards with Capital One. I see they have a consolidation link now.

One has a $650 limit and the other has a $500. Both have been open for several years. One used to be a platinum and they offered to upgrade it to a quicksilver.
Will combining these 2 be beneficial for my credit or make it worse?

My score is a range of 642-650 across all 3 credit bureaus. I have opened a new card since last fall and before I try to consolidate I would make sure I am under 20% UTI.

[pizza1]

It  doesnt make it worse. Combining the cards will give you one card with a higher limit, and more useful to use. Your util will still remain the same regardless.

Before you can combine them though, you can't have any pending charges. Do either of your cards have an AF?
Id combine both to the QS if theres no AF.

The closed card will still remain closed on your reports positive for up to 10 years.

[Anonymous]

Neither card has an AF. Both are Quicksilver and both have the same interest rate.

[longtimelurker]

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@pizza1 wrote:

It  doesnt make it worse. Combining the cards will give you one card with a higher limit, and more useful to use. Your util will still remain the same regardless.

Before you can combine them though, you can't have any pending charges. Do either of your cards have an AF?
Id combine both to the QS if theres no AF.

The closed card will still remain closed on your reports positive for up to 10 years.

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Well, it might make it worse in the very long run.   If you don't consolidate, in 10 years you will have two cards with 10+ years contributing to AAoA.   If you consolidate, eventually one drops offf and you lose it in the AAoA calculation.

But a lot can happen in those 10 years.

[Anonymous]

i would combine them to your oldest one.

[Anonymous]

I always saw the consolidation as a way to get to higher limits more quickly. I think that, with lenders, one $1,000 card looks better than 2 $500 cards. Maybe it can get people out of the 'sub-prime' bucket more quickly, depending on their limits.

[Anonymous]

i agree that's why i ditched my $300 platinum lol. heck if you had one $2,000 card you're more likely to get a higher limit than with 6 $500 cards. it shows you can handle the limit of $2k ..

[SouthJamaica]

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@Anonymous wrote:

I have 2 quicksilver cards with Capital One. I see they have a consolidation link now.

One has a $650 limit and the other has a $500. Both have been open for several years. One used to be a platinum and they offered to upgrade it to a quicksilver.
Will combining these 2 be beneficial for my credit or make it worse?

My score is a range of 642-650 across all 3 credit bureaus. I have opened a new card since last fall and before I try to consolidate I would make sure I am under 20% UTI.

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No one really knows, since this Cap One easy consolidation business is new, but IMHO you shouldn't combine the accounts, as I think your average age of accounts will go down.

[Anonymous]

it won't go down if they combine it to their oldest account. the closed one will be on the report 10 years it'll be fine. and the combining of cards isn't new it just was on hiatus

[whiteknight1971]

Yes  I would combine both cards and try to get a CLI with each card before you consolidate.  In the years you have had the cards, you have never gotten CLI"S ?

WIth your credit scores being pretty decent, I would apply for a Barclays Rewards or better yet Discover IT.  My credit scores are lower than yours and I was able to be approved for the IT last week.