@masscredit wrote:I've also found that the Venture provides higher starting limits than the QS. I applied for two cards in January. I hit the submit button for the card first. It was approved for $15K. I then submitted an app for QS seconds after that. It was approved for $10K.
Very nice! I read your post on how you did a double app with a single triple pull. I'm definite trying that angle when I'm ready to pull the trigger.
@grillandwinemaster wrote:
@masscredit wrote:
@grillandwinemaster wrote:Excellent new thread, thanks OP. Need a little guidance and direction from some of you expert Cap1 combo artists. I currently have 1-Cap1 qs1 two years old. If I open another Cap1 account with the intent of a future combination, which Cap1 card would y'all recommend for this?
Venture?
QS?
Thank y'all in advance!
I would try for the card that fits you best. QS if you want cash rewards and Venture if you want to work on airline miles. If your thinking about applying for another card, maybe go for two at the same time and possibly only get hit with one inquiry. See this thread - http://ficoforums.myfico.com/t5/Credit-Card-Applications/Cap-1-multiple-cards-w-1-pull-and-other-que...
Thanks MassCredit, very informative thread. Thanks for the reference.
Just keep in mind that with Capital One, "miles" are really just 2% cash-back - there's no conversion to actual airline miles like with American Express or Chase. (The choice to market Venture's rewards as "miles" is unfortunate, IMO... although I'm sure their marketing people would disagree.)
Basically it just comes down to the math... if you spend $12k or more a year on the card, it would pay to keep the Venture. If you spend less than $12k a year, you would come out better with a Quicksilver. ($12000 x 2% - $59AF = $181 versus $12000 x 1.5% = $180)
I actually plan to apply for a Venture later in the year, since historically Capital One is more generous with the credit lines on Venture compared to their other cards. I'll keep the card long enough to get a couple of CLIs, but before the first AF is due I'll combine it into my existing Quicksilver to avoid the AF since I generally don't spend $12k yearly with Capital One.
In the event that Capital One gives me a lower APR on the new Venture than I currently have on my Quicksilver, I'll combine the Quicksilver into the Venture (keeping the Venture) then do a PC to make the Venture into a Quicksilver (got all that?). In this case things are a bit convoluted, but in the end I'll be left with the card with the best APR, and with no AF. 
@grillandwinemaster wrote:
@masscredit wrote:I've also found that the Venture provides higher starting limits than the QS. I applied for two cards in January. I hit the submit button for the card first. It was approved for $15K. I then submitted an app for QS seconds after that. It was approved for $10K.
Very nice! I read your post on how you did a double app with a single triple pull. I'm definite trying that angle when I'm ready to pull the trigger.
It never hurts to try, but the 'word on the street' is that this no longer works. 
Supposedly as of June 1 they only allow you to app for one card every six months. I have no personal experience with this, although my brother was instantly declined for a second card just a few weeks back (they didn't even check his credit for the second app).
Things are always changing, though, and it ever hurts to try... when the time comes, let us know if it works for you!
Edited to add: Since the second app is 'iffy' at best right now, be sure to app first for the card you want the most. 
@UncleB wrote:Just keep in mind that with Capital One, "miles" are really just 2% cash-back - there's no conversion to actual airline miles like with American Express or Chase. (The choice to market Venture's rewards as "miles" is unfortunate, IMO... although I'm sure their marketing people would disagree.)
Basically it just comes down to the math... if you spend $12k or more a year on the card, it would pay to keep the Venture. If you spend less than $12k a year, you would come out better with a Quicksilver. ($12000 x 2% - $59AF = $181 versus $12000 x 1.5% = $180)
I actually plan to apply for a Venture later in the year, since historically Capital One is more generous with the credit lines on Venture compared to their other cards. I'll keep the card long enough to get a couple of CLIs, but before the first AF is due I'll combine it into my existing Quicksilver to avoid the AF since I generally don't spend $12k yearly with Capital One.
In the event that Capital One gives me a lower APR on the new Venture than I currently have on my Quicksilver, I'll combine the Quicksilver into the Venture (keeping the Venture) then do a PC to make the Venture into a Quicksilver (got all that?). In this case things are a bit convoluted, but in the end I'll be left with the card with the best APR, and with no AF.
UncleB -
I don't have a Venture but I thought that you had to purchase airline tickets to redeem the 2x miles/points and that other transactions do not redeem at 2x?
@driftless wrote:
@UncleB wrote:Just keep in mind that with Capital One, "miles" are really just 2% cash-back - there's no conversion to actual airline miles like with American Express or Chase. (The choice to market Venture's rewards as "miles" is unfortunate, IMO... although I'm sure their marketing people would disagree.)
Basically it just comes down to the math... if you spend $12k or more a year on the card, it would pay to keep the Venture. If you spend less than $12k a year, you would come out better with a Quicksilver. ($12000 x 2% - $59AF = $181 versus $12000 x 1.5% = $180)
I actually plan to apply for a Venture later in the year, since historically Capital One is more generous with the credit lines on Venture compared to their other cards. I'll keep the card long enough to get a couple of CLIs, but before the first AF is due I'll combine it into my existing Quicksilver to avoid the AF since I generally don't spend $12k yearly with Capital One.
In the event that Capital One gives me a lower APR on the new Venture than I currently have on my Quicksilver, I'll combine the Quicksilver into the Venture (keeping the Venture) then do a PC to make the Venture into a Quicksilver (got all that?). In this case things are a bit convoluted, but in the end I'll be left with the card with the best APR, and with no AF.
UncleB -
I don't have a Venture but I thought that you had to purchase airline tickets to redeem the 2x miles/points and that other transactions do not redeem at 2x?
It can be a flight, car rental or hotel (possibly other things, but these are the only ones 'spelled out').
I've not flown in 10+ years myself, but I do have off-brand hotel expenses from time to time that would serve as an opportunity to redeem the "miles" before either combining the card with my QS or changing it to a QS.
Note: If you PC a Venture to a QS, I think (?) the "miles" are converted to cash at the full 2% value... I'll try to go back and find some of the old threads where this is mentioned. This only applies to a PC, though... if you combine accounts any miles/cash remaining on the account that is closed is forfeited.
@UncleB wrote:
@grillandwinemaster wrote:
@masscredit wrote:I've also found that the Venture provides higher starting limits than the QS. I applied for two cards in January. I hit the submit button for the card first. It was approved for $15K. I then submitted an app for QS seconds after that. It was approved for $10K.
Very nice! I read your post on how you did a double app with a single triple pull. I'm definite trying that angle when I'm ready to pull the trigger.
It never hurts to try, but the 'word on the street' is that this no longer works.
Supposedly as of June 1 they only allow you to app for one card every six months. I have no personal experience with this, although my brother was instantly declined for a second card just a few weeks back (they didn't even check his credit for the second app).
Things are always changing, though, and it ever hurts to try... when the time comes, let us know if it works for you!
Edited to add: Since the second app is 'iffy' at best right now, be sure to app first for the card you want the most.
Good info! That might be why I received a message on the pre-qualified page a few weeks ago that said they couldn't match me up with any cards at that time. I'm not planning to apply for anything else until I can combine my current cards but am courious to see what/if I can be approved for.
@masscredit wrote:Wondering if anyone has recently been able to combine two or more of their Capital One cards? This feature is located under the Services tab when you log into your account. So goto Servies then More. You'll then see it towards the bottom of the Card Services row.
Some info that Capital One lists -
There are several factors that determine eligibility. The most common ones are listed below. These factors may not all apply to you. Please note that this is not a complete list and other factors are also considered.
- At least one of your cards had missed or late payments in the last 6 months; has a balance over its credit limit; or was charged off in the last 12 months meaning, due to a series of missed payments, the account was closed
- The card you intend to close as a part of the combination has been open for less than 6 months
- All of your cards have a balance greater than $0 (at least one card must have a $0 balance and no pending transactions)
- Secured cards, co-brand cards (e.g., GM, Union Plus) and private label retail cards (e.g., Kohl’s, Neiman Marcus) cannot be combined at this time
This feature has worked for some people while others, including myself, haven't had any success. Cap 1 has said it it's slowly being rolled out.
I'm including the link to a thread that was started last year. It's kind of long so I figured a new one might be helpful.
http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-Card-Consolidation/td-p/4113430
At the end of March I was able to combine both of my QS 1's into other cards, one $3500 limit into my QS Visa Sig, and the other with a $3000 into my Venture. Just pc'd my Venture into another QS Visa Sig and once that balance is 0 (tomorrow) am going to combine those two so I can have a $21,500 limit on one card.
Not sure how true that is. The two cards I merge into other cards had zero balances, but the cards that received the credit had balances on them.I believe it states that in the verbiage.
@Anonymous wrote:
@Anonymous wrote:i have not had any luck yet with this feature. I have been trying, and hopfully sometime in the near future.
is this the reason why you have 4 cap QS? I thought it's a missed HTML codings
+1