topic Re: Combining Cap1 accounts in Credit Cards

Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 03:54:28 GMT

I have 2 QS1 cards and would like to combine them ... can someone walk me through the process of doing this? I know there is an option online .. so, I know - technically - how to do it... but, I'm curious about your experience in doing this ... a couple of specific questions...

1) Is the CL on the combined card always the CL from the 2 cards, combined?

2) Both of my accounts were opened in 2012... with a couple of recent accounts that have been opened, my AAoA is quite low - 3 years. How detrimental will it be to my AAoA if I do the combining of accounts?

3) Any other 'gotchas' that I might want to take into consideration when doing this?

The things that are making me consider this are:

1) Easier to keep up with 1 account, rather than 2 (obviously)

2) The combination of these two card would create my highest CL on a card

3) I don't really like having 2 QS1 cards and 2 AFs for those cards

4) Thought maybe (??) having one card only with Chase might make them like me more for either the Venture or QS at some point next year? That logic may be flawed ... so definitely interested in your thoughts on that.

For reference, my current scores are: EX 670 / TU 665 / EQ 646 (that being said, I might not look good to Cap1 for the Venture or QS next year ?? - thinking around July - as I want to garden until at least then).

Thanks, in advance, for your help!!

Re: Combining Cap1 accounts

elim — Fri, 01 Jan 2016 04:00:28 GMT

It's pretty easy. Just choose the oldest or lowest APR to move the limit to.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 05:04:21 GMT

@elim wrote:
It's pretty easy. Just choose the oldest or lowest APR to move the limit to.

@I agree with @elim. Best way to do it...

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 05:40:51 GMT

Thank you, both, for your input! That direction makes perfect sense....

Any thoughts on the other items I mentioned? I guess I'm looking to the experts here to chime in as to whether this is a 'good' move, given the items that I've mentioned.

Thanks!

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 05:56:31 GMT

There are no "gotchas" as you stated. Keep in mind that once the account is combined, the action cannot be reversed. WRT to your AAoA question, it will still remain the same. Closed account remain on your report for 10 years and are factored into how your AAoA is calculated.

Your decision to combined makes sense. Managing one card is better than two and big limits begets other big limits.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 06:11:40 GMT

@Anonymous wrote:
There are no "gotchas" as you stated. Keep in mind that once the account is combined, the action cannot be reversed. WRT to your AAoA question, it will still remain the same. Closed account remain on your report for 10 years and are factored into how your AAoA is calculated.

Your decision to combined makes sense. Managing one card is better than two and big limits begets other big limits.

Thank you for taking the time to respond! it is much appreciated!

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 06:14:54 GMT

@Anonymous wrote:
@Anonymous wrote:
There are no "gotchas" as you stated. Keep in mind that once the account is combined, the action cannot be reversed. WRT to your AAoA question, it will still remain the same. Closed account remain on your report for 10 years and are factored into how your AAoA is calculated.

Your decision to combined makes sense. Managing one card is better than two and big limits begets other big limits.
Thank you for taking the time to respond! it is much appreciated!

You are welcome and happy new year.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 06:27:31 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
There are no "gotchas" as you stated. Keep in mind that once the account is combined, the action cannot be reversed. WRT to your AAoA question, it will still remain the same. Closed account remain on your report for 10 years and are factored into how your AAoA is calculated.

Your decision to combined makes sense. Managing one card is better than two and big limits begets other big limits.
Thank you for taking the time to respond! it is much appreciated!

You are welcome and happy new year.

Happy New Year to you, as well!

Re: Combining Cap1 accounts

UncleB — Fri, 01 Jan 2016 06:51:22 GMT

Lots of good advice here so far... as somebody in a similar situation, I just have one addition.

If you can, time your combination so that you can get a CLI on each card right before you 'merge' them, since combining accounts will likely 'reset' the clock on your CLIs for the remaining card. Getting a CLI on either (or both) does not impact you ability to combine.

In my own case, I just got a CLI on each of my cards ($1k on each) in December and my QS1 AF isn't until July... so I plan to wait on combining until I get another CLI on each card again in June, then combine just before the July AF is due. I didn't plan the dates out in advance... I just got 'lucky' that it worked out that way.

If you have an AF due before your next eligible CLI, it might be more desirable to go ahead and combine them to avoid the AF. You've got options!

Edited to add: Happy New Year!

Re: Combining Cap1 accounts

jeffery581 — Fri, 01 Jan 2016 12:41:46 GMT

yes it is very easy I don't understand all the confusion and problems with cap 1 combining accounts. This is not directed to anyone in particular just see thread after thread about this.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 17:52:23 GMT

@UncleB wrote:
Lots of good advice here so far... as somebody in a similar situation, I just have one addition.

If you can, time your combination so that you can get a CLI on each card right before you 'merge' them, since combining accounts will likely 'reset' the clock on your CLIs for the remaining card. Getting a CLI on either (or both) does not impact you ability to combine.

In my own case, I just got a CLI on each of my cards ($1k on each) in December and my QS1 AF isn't until July... so I plan to wait on combining until I get another CLI on each card again in June, then combine just before the July AF is due. I didn't plan the dates out in advance... I just got 'lucky' that it worked out that way.

If you have an AF due before your next eligible CLI, it might be more desirable to go ahead and combine them to avoid the AF. You've got options!

Edited to add: Happy New Year!

Great advice, UncleB! I will wait for my chance to ask for a CLI on both before merging.

One question that I do have though, can I PC my Venture into a QS and then ask to merge both cards in one phone call? Or should I space out the request for PC and the request for the merge?

My current QS is 22.9% while my Venture is at 17.9%. I've heard that it's easier pulling teeth than it is to ask Cap One for a lower APR, hence my wanting to PC Venture into QS (lower APR + no AF).

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 18:18:51 GMT

@jeffery581 wrote:
yes it is very easy I don't understand all the confusion and problems with cap 1 combining accounts. This is not directed to anyone in particular just see thread after thread about this.

There really was no 'confusion' per se ... really I was looking for input on my thoughts around doing this. My apologies for creating yet another thread - just thought that might be appropriate since I had some specific questions.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 18:19:41 GMT

@UncleB wrote:
Lots of good advice here so far... as somebody in a similar situation, I just have one addition.

If you can, time your combination so that you can get a CLI on each card right before you 'merge' them, since combining accounts will likely 'reset' the clock on your CLIs for the remaining card. Getting a CLI on either (or both) does not impact you ability to combine.

In my own case, I just got a CLI on each of my cards ($1k on each) in December and my QS1 AF isn't until July... so I plan to wait on combining until I get another CLI on each card again in June, then combine just before the July AF is due. I didn't plan the dates out in advance... I just got 'lucky' that it worked out that way.

If you have an AF due before your next eligible CLI, it might be more desirable to go ahead and combine them to avoid the AF. You've got options!

Edited to add: Happy New Year!

Excellent advice - thank you so much!! I will be eligible for a CLI in advance of my next AF being due ... so, this is good information to keep in mind!! Happy New Year to you, as well!

Re: Combining Cap1 accounts

boober — Fri, 01 Jan 2016 19:55:37 GMT

I've looked into combining some of my 3 accounts, but I keep getting turned down. The reasons cap 1 lists as to why I could be turned down don't apply to me though. 2 of my accounts are kinda new at being 7 months old, but it does say they need to be open for at least 6 months which they are. The 3rd I've had open for about 4 years, but it's only been a cap 1 account for the last 2 years or so as cap 1 had bought it from a different bank.

I've had nothing negative with these accounts, tried combining them with 0 balances and still am unable to. My cards are all linked as well.

Anyone have any idea why I keep getting denied? Thanks.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 20:12:28 GMT

@boober wrote:
I've looked into combining some of my 3 accounts, but I keep getting turned down. The reasons cap 1 lists as to why I could be turned down don't apply to me though. 2 of my accounts are kinda new at being 7 months old, but it does say they need to be open for at least 6 months which they are. The 3rd I've had open for about 4 years, but it's only been a cap 1 account for the last 2 years or so as cap 1 had bought it from a different bank.

I've had nothing negative with these accounts, tried combining them with 0 balances and still am unable to. My cards are all linked as well.

Anyone have any idea why I keep getting denied? Thanks.

Same thing here. I keep getting the not available option with the same reasons. I asked an online chat representative and they stated they couldn't do it on their end and that there are other factors besides those that are listed. The advice I was given was to simply keep checking.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 20:14:52 GMT

@Anonymous wrote:
@boober wrote:
I've looked into combining some of my 3 accounts, but I keep getting turned down. The reasons cap 1 lists as to why I could be turned down don't apply to me though. 2 of my accounts are kinda new at being 7 months old, but it does say they need to be open for at least 6 months which they are. The 3rd I've had open for about 4 years, but it's only been a cap 1 account for the last 2 years or so as cap 1 had bought it from a different bank.

I've had nothing negative with these accounts, tried combining them with 0 balances and still am unable to. My cards are all linked as well.

Anyone have any idea why I keep getting denied? Thanks.
Same thing here. I keep getting the not available option with the same reasons. I asked an online chat representative and they stated they couldn't do it on their end and that there are other factors besides those that are listed. The advice I was given was to simply keep checking.

Interesting ... I wonder what the 'other factors' are.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 20:49:29 GMT

Main factor is they want you to keep both cards open.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 21:06:24 GMT

@UncleB wrote:
Lots of good advice here so far... as somebody in a similar situation, I just have one addition.

If you can, time your combination so that you can get a CLI on each card right before you 'merge' them, since combining accounts will likely 'reset' the clock on your CLIs for the remaining card. Getting a CLI on either (or both) does not impact you ability to combine.

In my own case, I just got a CLI on each of my cards ($1k on each) in December and my QS1 AF isn't until July... so I plan to wait on combining until I get another CLI on each card again in June, then combine just before the July AF is due. I didn't plan the dates out in advance... I just got 'lucky' that it worked out that way.

If you have an AF due before your next eligible CLI, it might be more desirable to go ahead and combine them to avoid the AF. You've got options!

Edited to add: Happy New Year!

Great advice here and I completely agree. I was fortunate enough that my Venture and Quicksilver Sig Visa were eligible for CLI's in October, and that my accounts won't be eligible for account combination until January 22, so the timing worked out well for me, but I would definitely encourage trying for a CLI prior to combining.

Two of my 3 cards are all zeroed out for the balance and ready to combine. Here's hoping it goes smoothly at end of January,

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 21:18:49 GMT

@b wrote:
I've looked into combining some of my 3 accounts, but I keep getting turned down. The reasons cap 1 lists as to why I could be turned down don't apply to me though. 2 of my accounts are kinda new at being 7 months old, but it does say they need to be open for at least 6 months which they are. The 3rd I've had open for about 4 years, but it's only been a cap 1 account for the last 2 years or so as cap 1 had bought it from a different bank.

I've had nothing negative with these accounts, tried combining them with 0 balances and still am unable to. My cards are all linked as well.

Anyone have any idea why I keep getting denied? Thanks.

Eep. This is the kind of thing I hope does not happen to me when mine are eligible to combine at end of January. Sorry this is happening OP.

My accounts are all originally Capital One accounts. OP mentions that one of his accounts was transferred over from a different bank. Possibly this may be the issue.

Re: Combining Cap1 accounts

Anonymous — Fri, 01 Jan 2016 21:34:24 GMT

@Anonymous wrote:
Main factor is they want you to keep both cards open.

From a business perspective, I can see why they may want this - however, not sure that is a means for determining eligibility to combine... but, certainly, they have their own rules and we just have to play by them or choose not to do business with them ... so, who knows! lol