topic Re: combine capital one credit cards? in Credit Cards

combine capital one credit cards?

Anonymous — Thu, 21 Apr 2016 17:13:18 GMT

so I just completed my credit steps- Quicksilver with 1300 CL and a Quicksilver one with 1500 CL after 60 days. Would it be best to combine both cards or stay as is? Also when can I apply for the next credit line increase?

Thanks!

Re: combine capital one credit cards?

kjm79 — Thu, 21 Apr 2016 17:21:50 GMT

Literally just combined mine this morning.

Cap1 CLI are 6 months from last increase. So, your next increase will be 6 months from your Credit Steps increase. You can still request an increase whenever you want, it's a SP, but general rule is Cap 1 dishes out the increases every 6 months.

For the combining, there's a few things to consider. 1) when app'ing for new credit, often times lenders will try to come close to the CL of your other cards. So a larger CL on one card is better than smaller limits across two cards. 2) with one card and a larger limit, you don't have to watch util as closely, you've got a little more room if you want to make a larger purchase without maxing out a card. 3) Cap 1 does limit how many and what types of cards you have. Combining cards opens up more opportunity to get more, and better Cap 1 cards and limits. 4) one less card to worry about.

My vote would be to combine.

Re: combine capital one credit cards?

Anonymous — Thu, 21 Apr 2016 17:25:49 GMT

i would say combine them into one , and you can always get another cli with good usage and payments in 6 months my last cli was for 3k with cap one.

Also you can always check the cap one prequals from time to time to see if you qualify for a better card from them, for example i started just like you and after about a year was approved for a brand new quicksilver sig visa 10k plus sl. best of luck

Re: combine capital one credit cards?

Anonymous — Thu, 21 Apr 2016 18:25:02 GMT

thanks for the advice! very helpful! I just tried to combine and was informed that I need to wait 6 months on my QuickSliver One credit card.

Re: combine capital one credit cards?

Anonymous — Thu, 21 Apr 2016 19:00:27 GMT

@Anonymous wrote:
thanks for the advice! very helpful! I just tried to combine and was informed that I need to wait 6 months on my QuickSliver One credit card.

Yea for an account combination :

At least one of your cards had missed or late payments in the last 6 months; has a balance over its credit limit; or was charged off in the last 12 months meaning, due to a series of missed payments, the account was closed
At least one of the cards you want to combine has been open for less than 6 months
All of your cards have a balance greater than $0 (at least one card must have a $0 balance and no pending transactions)
Secured cards, co-brand cards (e.g., GM, Union Plus) and private label retail cards (e.g., Kohl’s, Neiman Marcus) cannot be combined at this time