Pros/cons to combining my new cap one cards...

[Anonymous]

Hi Everyone,

I know this has been discussed, and I’ve read a lot of the megathread, but I really couldn’t find the specific answer to my question. I have 2 cap 1 cards (both received CLI yesterday). I have the venture and the quicksilver. Both cards are 6 months old, and I really only use my quicksilver card.

What would be a reason as to why I shouldn’t try to combine them into one card with a 30k limit, vs 2 cards split. I know it’ll show as a closed account, but outside of that, is there anything that I should consider as to why I shouldn’t combine them?

[Creditaddict]

1. Higher limits usually then get you higher limits with other bank approvals and CLI's.

2. If you are only using your Quicksilver, if you combine your cards and have a $30k limit, you can use much more of your CL without hurting your util. at all.

[Anonymous]

Thanks for the response! Would it look bad to do this considering they are both new accounts (6 months old?)

[Anonymous]

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@Anonymous wrote:

Hi Everyone,

I know this has been discussed, and I’ve read a lot of the megathread, but I really couldn’t find the specific answer to my question. I have 2 cap 1 cards (both received CLI yesterday). I have the venture and the quicksilver. Both cards are 6 months old, and I really only use my quicksilver card.

What would be a reason as to why I shouldn’t try to combine them into one card with a 30k limit, vs 2 cards split. I know it’ll show as a closed account, but outside of that, is there anything that I should consider as to why I shouldn’t combine them?

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Not sure if this is what you meant by showing as a closed account, but your AAoA also won't get a boost from the second card any more.  For example: if you keep both cards open, in 2 months your AAoA will be 8 months (assuming these are the only two cards you have).  However, if you combine now and close, then in 2 months your AAoA will be 7 months (open is 8 and closed is 6).  Depending on the size and age of your file this may or may not be a big issue, but it is something else to be aware of.

[Creditaddict]

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@Anonymous wrote:

Thanks for the response! Would it look bad to do this considering they are both new accounts (6 months old?)

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I think the larger CL will be better than any negatives of closing and the closed account will continue to report for 10 years so I don't think at all.

[dragontears]

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@Anonymous wrote:

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@Anonymous wrote:

Hi Everyone,

I know this has been discussed, and I’ve read a lot of the megathread, but I really couldn’t find the specific answer to my question. I have 2 cap 1 cards (both received CLI yesterday). I have the venture and the quicksilver. Both cards are 6 months old, and I really only use my quicksilver card.

What would be a reason as to why I shouldn’t try to combine them into one card with a 30k limit, vs 2 cards split. I know it’ll show as a closed account, but outside of that, is there anything that I should consider as to why I shouldn’t combine them?

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Not sure if this is what you meant by showing as a closed account, but your AAoA also won't get a boost from the second card any more.  For example: if you keep both cards open, in 2 months your AAoA will be 8 months (assuming these are the only two cards you have).  However, if you combine now and close, then in 2 months your AAoA will be 7 months (open is 8 and closed is 6).  Depending on the size and age of your file this may or may not be a big issue, but it is something else to be aware of.

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ummm thay is not how AAoA works with closed accounts....