Hey y'all! I've been weighing the pros and cons of combining two of my cards and I wanted to tap into the forum hive mind to kind of tip the scales in one direction or the other. Here's my situation.
Credit Cards:
Capital One Secured Mastercard
CLOSED December 2015
Opened June 2014
Still contributes to my Age of Credit
Capital One Visa Venture Card
$10K CL
Opened November 2015
Has AF (I'm okay with this, I like my 2x miles!)
Due for next CLI in May
Capital One Platinum Mastercard
$2K CL
Opened November 2015
Has no rewards
I have been unable to qualify for a CLI on this card in the last two months due to lack of activity.
American Express Blue Cash Everyday
$4K CL
Opened November 2015
I use this for my transportation (Uber, Lyft, Bus Card, etc)
Discover It Card
$4500 CL
Opened June 2016
Has lowest APR, but I don't currently use it. I got this to make a big purchase (computer) with the 0% intro APR.
All of my cards report $0 except for my Venture and I pay in that full each month. Clearly, I have more cards than I need. I'd like to combine the Mastercard into my Venture, but I was really hoping to be able to get one last CLI out of that card to kind...double my next CLI on my Venture. But because I don't use the Mastercard enough, I haven't been able to qualify for that CLI. Should I try to use my card a bit more over the next month or two and attempt to get that CLI or should I just say, "Screw it!" and do it now?
My current scores are EQ 742, TU 750, EX 731.
@simplesaver wrote:Hey y'all! I've been weighing the pros and cons of combining two of my cards and I wanted to tap into the forum hive mind to kind of tip the scales in one direction or the other. Here's my situation.
Credit Cards:
Capital One Secured MastercardCLOSED December 2015
Opened June 2014
Still contributes to my Age of Credit
Capital One Visa Venture Card
$10K CL
Opened November 2015Has AF (I'm okay with this, I like my 2x miles!)
Due for next CLI in May
Capital One Platinum Mastercard
$2K CLOpened November 2015
Has no rewards
I have been unable to qualify for a CLI on this card in the last two months due to lack of activity.
American Express Blue Cash Everyday$4K CL
Opened November 2015I use this for my transportation (Uber, Lyft, Bus Card, etc)
Discover It Card$4500 CL
Opened June 2016
Has lowest APR, but I don't currently use it. I got this to make a big purchase (computer) with the 0% intro APR.
All of my cards report $0 except for my Venture and I pay in that full each month. Clearly, I have more cards than I need. I'd like to combine the Mastercard into my Venture, but I was really hoping to be able to get one last CLI out of that card to kind...double my next CLI on my Venture. But because I don't use the Mastercard enough, I haven't been able to qualify for that CLI. Should I try to use my card a bit more over the next month or two and attempt to get that CLI or should I just say, "Screw it!" and do it now?
My current scores are EQ 742, TU 750, EX 731.
Just say "Screw it" and do it now.
Capital One has tightened up on CLI's in my opinion.
How is it more useful than my Venture, AMEX, and Discover cards? What are its pros?
Just last night I combined my Cap1 Plat into my QS which now has a $8K limit.
12/27/16 - Eq683 TU666 Ex681 04/05/17 Eq742 TU763 Ex757
As elim said, if you meet that spend goal per year, combine now. If not, PC one of them to a Quicksilver and then combine them together. I combined my cards together last week. Don't want to take a chance with Cap One and their combine "requirements" changing. 