topic Re: Capital One consolidation question in Credit Cards

Capital One consolidation question

girbabe — Thu, 05 Nov 2015 23:40:13 GMT

I'm going to cancel my Sony card and would like some input about the consolidation of the other 2. I don't want to close out the Platinum because it's an older card though I don't use it since there's not much benefit. On the other hand, the Quicksilver Signature I was approved for just earlier this year has the highest APR of 22.9% so it really won't be used either. I typically PIF but on the off chance I let a balance ride for a month, I certainly don't want it to be on the Signature card. So then, would it be better to consolidate and keep the Platinum due to the age of the account and lower APR (17.9) or keep them both or ??. Appreciate the help.

Re: Capital One consolidation question

Anonymous — Thu, 05 Nov 2015 23:53:50 GMT

@girbabe wrote:
I'm going to cancel my Sony card and would like some input about the consolidation of the other 2. I don't want to close out the Platinum because it's an older card though I don't use it since there's not much benefit. On the other hand, the Quicksilver Signature I was approved for just earlier this year has the highest APR of 22.9% so it really won't be used either. I typically PIF but on the off chance I let a balance ride for a month, I certainly don't want it to be on the Signature card. So then, would it be better to consolidate and keep the Platinum due to the age of the account and lower APR (17.9) or keep them both or ??. Appreciate the help.

as long as the system isnt wonky, u should be able to combine so long as the new one is 6months or older, and one of the two cards is at 0 balance. Most folks have better success when BOTH cards are at 0.

Also, if you do combine you'd get rewards on your combined credit line, not just one. But the issue is even at 17.9 APR it is eating away at the cash back,but not much for jsut one month.

You could also do a debt shuffle in the event you cant combine due to whatever reason, for when u want to carry a balance more than 1 month.

The sony card doesnt have an AF, are you worried about your exposure with cap1? Why do you want to close it?

Re: Capital One consolidation question

girbabe — Fri, 06 Nov 2015 00:07:59 GMT

@Anonymous wrote:
@girbabe wrote:
I'm going to cancel my Sony card and would like some input about the consolidation of the other 2. I don't want to close out the Platinum because it's an older card though I don't use it since there's not much benefit. On the other hand, the Quicksilver Signature I was approved for just earlier this year has the highest APR of 22.9% so it really won't be used either. I typically PIF but on the off chance I let a balance ride for a month, I certainly don't want it to be on the Signature card. So then, would it be better to consolidate and keep the Platinum due to the age of the account and lower APR (17.9) or keep them both or ??. Appreciate the help.
as long as the system isnt wonky, u should be able to combine so long as the new one is 6months or older, and one of the two cards is at 0 balance. Most folks have better success when BOTH cards are at 0.

Also, if you do combine you'd get rewards on your combined credit line, not just one. But the issue is even at 17.9 APR it is eating away at the cash back,but not much for jsut one month.

You could also do a debt shuffle in the event you cant combine due to whatever reason, for when u want to carry a balance more than 1 month.

The sony card doesnt have an AF, are you worried about your exposure with cap1? Why do you want to close it?

ALL Cap1 cards at zero balance. NO perks of any kind on the Platinum - just a plain ol' credit card. CAN consolidate via online so not an issue. I only allow 1-2 cards to report to bureaus each month and utilization is never above 10%. I have plans for a couple of cc's early next year and some are particular about having too many accounts open so I'm planning ahead. I'm just trying to determine the best action for these two cards. Keep the older one and/or combine the CL. I think my main question is if there is any benefit to keeping the Signature card.

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 01:56:26 GMT

too many accounts open only applies to credit union apps typically lol. there are people here with 20-120 credit cards alone, nevertheless a mortgage, installment loan or auto loan and they still get approved for stuff weekly.

Re: Capital One consolidation question

girbabe — Fri, 06 Nov 2015 03:24:24 GMT

@Anonymous wrote:
too many accounts open only applies to credit union apps typically lol. there are people here with 20-120 credit cards alone, nevertheless a mortgage, installment loan or auto loan and they still get approved for stuff weekly.

As a matter of fact, I'm going for a Simmons. It's my understanding that they won't approve anyone with more than 5 new accounts within 24 mos and look verrrrrry closely at anyone with over 10 open cc accounts total. Does anyone else have experience with them?

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 03:30:04 GMT

yeah i heard they're ultra picky. screw that lol.

Re: Capital One consolidation question

girbabe — Fri, 06 Nov 2015 03:40:09 GMT

@Anonymous wrote:
yeah i heard they're ultra picky. screw that lol.

I figure sooner or later I'm going to run out of promos and then where will I be!

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 03:45:10 GMT

living life like a normal person lol

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 15:56:13 GMT

@Anonymous wrote:
living life like a normal person lol

I know right? Who cares about simmons bank? Its just elusive is all. There are equally good or better cards out there from credit unions.

If you have enough spend, then one could argue you may have more chances for CLIs with two cap1 cards....but if were doing that much anyway on one card it probably wouldnt matter in the long run.

Re: Capital One consolidation question

girbabe — Fri, 06 Nov 2015 16:49:00 GMT

@Anonymous wrote:
@Anonymous wrote:
living life like a normal person lol
I know right? Who cares about simmons bank? Its just elusive is all. There are equally good or better cards out there from credit unions.

If you have enough spend, then one could argue you may have more chances for CLIs with two cap1 cards....but if were doing that much anyway on one card it probably wouldnt matter in the long run.

It has the lowest interest rates of any card out there. It may not be for everyone but I'd like to have it for times when I need to carry a balance.

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 17:34:59 GMT

@girbabe wrote:
@Anonymous wrote:
@Anonymous wrote:
living life like a normal person lol
I know right? Who cares about simmons bank? Its just elusive is all. There are equally good or better cards out there from credit unions.

If you have enough spend, then one could argue you may have more chances for CLIs with two cap1 cards....but if were doing that much anyway on one card it probably wouldnt matter in the long run.
It has the lowest interest rates of any card out there. It may not be for everyone but I'd like to have it for times when I need to carry a balance.

Ok... but the amount of money you would waste on inquiries trying to get that, could be better generated from a bonus or two, which would outweigh any interest you are saving with that 1% or less difference. Just sayin'.

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 17:37:54 GMT

or 0% apr cards

Re: Capital One consolidation question

girbabe — Fri, 06 Nov 2015 17:47:52 GMT

@Anonymous wrote:
@girbabe wrote:
@Anonymous wrote:
@Anonymous wrote:
living life like a normal person lol
I know right? Who cares about simmons bank? Its just elusive is all. There are equally good or better cards out there from credit unions.

If you have enough spend, then one could argue you may have more chances for CLIs with two cap1 cards....but if were doing that much anyway on one card it probably wouldnt matter in the long run.
It has the lowest interest rates of any card out there. It may not be for everyone but I'd like to have it for times when I need to carry a balance.
Ok... but the amount of money you would waste on inquiries trying to get that, could be better generated from a bonus or two, which would outweigh any interest you are saving with that 1% or less difference. Just sayin'.

One Transunion inquiry but I don't understand what you mean by "wasting money." No different than any other app which is a temporary score setback. Mine usually drops about 6 points and is back up over 800 in 6 mos to a year. Some people aren't always looking for sign up bonuses. Just looking ahead and gaining a little security. Not everyone is looking for the same thing thankfully - that's why we have so many to choose from.

Re: Capital One consolidation question

girbabe — Fri, 06 Nov 2015 17:56:23 GMT

@Anonymous wrote:
or 0% apr cards

Temporary for 12-18 mos usually. Then 13-22% forever more. On the chance I came across hard times and had to carry a balance, I'd be screwed. Besides, I have enough expired 0% interest cards sitting in my sock drawer with 12.99, 18.99 and 22.99 interest.

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 17:58:09 GMT

yeah i know what you mean.

Re: Capital One consolidation question

girbabe — Fri, 06 Nov 2015 18:01:42 GMT

@Anonymous wrote:
@girbabe wrote:
@Anonymous wrote:
@Anonymous wrote:
living life like a normal person lol
I know right? Who cares about simmons bank? Its just elusive is all. There are equally good or better cards out there from credit unions.

If you have enough spend, then one could argue you may have more chances for CLIs with two cap1 cards....but if were doing that much anyway on one card it probably wouldnt matter in the long run.
It has the lowest interest rates of any card out there. It may not be for everyone but I'd like to have it for times when I need to carry a balance.
Ok... but the amount of money you would waste on inquiries trying to get that, could be better generated from a bonus or two, which would outweigh any interest you are saving with that 1% or less difference. Just sayin'.

1% or less? Really? How many cards are out there with 8.25% (or less) ongoing APR that I can easily apply for? Point me in that direction and I may rethink Simmons.

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 18:05:05 GMT

barclay ring and tons of CU cards but you'd have to check eligibility. the CU i work at offers 7.7% with 720 TU or higher. barclay is 8%

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 18:06:03 GMT

probably easier to get too though. i am not trying to be smart with you just merely help. there is a thread on here somewhere with the lowest APR cards. some of them you may qualify for so see if you can find it

Re: Capital One consolidation question

girbabe — Fri, 06 Nov 2015 18:09:36 GMT

@Anonymous wrote:
probably easier to get too though. i am not trying to be smart with you just merely help. there is a thread on here somewhere with the lowest APR cards. some of them you may qualify for so see if you can find it

I spent 6 months scouring the internet looking for low interest cards. Simmons and Iberia is what I found. Everything else was between 10.99 and 22.99. Including Barclays. If you found something different than I did, I sure would appreciate knowing where to find it.

Re: Capital One consolidation question

Anonymous — Fri, 06 Nov 2015 18:23:52 GMT

@girbabe wrote:
@Anonymous wrote:
probably easier to get too though. i am not trying to be smart with you just merely help. there is a thread on here somewhere with the lowest APR cards. some of them you may qualify for so see if you can find it
I spent 6 months scouring the internet looking for low interest cards. Simmons and Iberia is what I found. Everything else was between 10.99 and 22.99. Including Barclays. If you found something different than I did, I sure would appreciate knowing where to find it.

Barclay's Ring card is only 8% APR - It's one of my favorite cards. Here's the link:

http://www.findmybarclaycard.com/barclaycard-credit-cards/?campaignId=2039&pkw=barclayring&pmt=e&cellNumber=1&referrerid=BNGPS0215BRRNG