Should I Combine CAP1 Account?

[Anonymous]

My 2nd oldest credit card is a CAP1 that was opened in 2008 and has a 970 CLI.  My 1st cc was opened in 2006ish and is stil and will remain open.  The reason for wanting to combine the 970 Cap1 is that it has a $79/y fee.  I called CAP1 and they say they cant do anything about the fee.  So my only option is to keep it or combine it.

Any opinions?

Thanks!

[Anonymous]

I vote to combine as it will allow you the following positives

elimination of high annual fee

creation of higher consolidated credit limit via combining

increasing chances of more substantive CLI's in the future by ridding your profile of a lower level card and strengthening profile with Capital One's higher tier cards

The closed card won't affect your AaoA for some time, and by that time you will have a longer AaoA in any event. 

If you haven't already PC'd the card you plan to keep to a QS, I would also recommend doing so.

It might also not be a bad idea to apply for a new QS Visa, and eventually roll the two older cards into that as well. I'm assuming your two older cards are probably mastercards or beginner cards, correct?

Hope this helps

[Anonymous]

Thats correct and I did just that.  I was approved for a QS Visa 5k!!!!!! Very very excited about that.

Thanks for the advice.  I think I will indeed combine them.  And eventually roll em all up into the Visa Sig. 

[pizza1]

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@Anonymous wrote:

Thats correct and I did just that.  I was approved for a QS Visa 5k!!!!!! Very very excited about that.

Thanks for the advice.  I think I will indeed combine them.  And eventually roll em all up into the Visa Sig. 

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yes you should combine! Get rid of that card with the $79AF pronto. 

Now...after 6 months, youll be able to combine your new card as well, but you have to wait till the new card is 6 months old. In the meantime, you can combine the others two. 

Congrats

[UFGuy2006]

Agree with the above posters. I'd combine it.