topic Re: Opinions on Cap One acct combo options? in Credit Cards

Opinions on Cap One acct combo options?

Peanutbutter — Sun, 24 Apr 2016 22:09:56 GMT

So, I've been considering combining my cap one accounts.

Ideally I'd like to combine the QS account into one of my two remaining accounts (either Venture or the the Visa Plat.) I use my Venture consistently for the rewards, but the Visa Plat. is one of my oldest CL's and I don't really want to lose that (NB: I do not use the Visa Plat at all, I just keep it bc of its AAoA). The QS does have a lower APR, so thats another consideration. Just looking for points/suggestions I may have missed in my considerations.

Thanks!

General info (according to CCT): AAoA = 6.8yrs, Util = 0-1%, Total Revolving CL = 130k.

FICO 8 = EX 810, TU 803, EQ 810

Re: Opinions on Cap One acct combo options?

Bone35 — Sun, 24 Apr 2016 22:26:21 GMT

@Peanutbutter wrote:

So, I've been considering combining my cap one accounts.

Ideally I'd like to combine the QS account into one of my two remaining accounts (either Venture or the the Visa Plat.) I use my Venture consistently for the rewards, but the Visa Plat. is one of my oldest CL's and I don't really want to lose that (NB: I do not use the Visa Plat at all, I just keep it bc of its AAoA). The QS does have a lower APR, so thats another consideration. Just looking for points/suggestions I may have missed in my considerations.

Thanks!

General info (according to CCT): AAoA = 6.8yrs, Util = 0-1%, Total Revolving CL = 130k.
FICO 8 = EX 810, TU 803, EQ 810

I would definitely NOT lose the quicksilver... If you like the venture why not just PC the quicksilver to venture and combine after that so you dont lose the much better interest rate.

Make sure you use any unused miles on the venture before combining so you dont lose them. If your not traveling but giftcards thru Cap One to get full value.

Others might chime in and say doesnt matter if you pay in full, but I'm with the mentality of....you never know and might as well have the best you can get!

Your scores are very strong and I'm sure you could aquire another Cap One later with the same interest rate but why take the triple pull

Hope this helps!

Re: Opinions on Cap One acct combo options?

NRB525 — Sun, 24 Apr 2016 22:31:56 GMT

Have you asked CapOne whether you can product change the Platinum into a Quicksilver? This gets you the same 1.5% rewards with no hassle.

Re: Opinions on Cap One acct combo options?

UncleB — Sun, 24 Apr 2016 22:34:45 GMT

If it were me I would keep the lower-APR Quicksilver, and merge the Venture into it.

If the math works out (you charge more than $12k per year) you can always PC the Quicksilver to a Venture. If you charge less than $12k it would be cheaper to simply keep the card as a Quicksilver, and you'll have a good card with a low-APR, no-AF, and a nice credit line!

Something else to consider... your old Visa card might be eligible to be PC'd as well. You can see about PC'ing it to a Quicksilver Visa (would still be a Platinum) or you could PC it to a Venture One, get the credit line above $5k, then later PC to a Quicksilver and it will likely be a Signature. Several ways to work on that one... (I know that wasn't the purpose of this thread, but I'm just putting that out there...)

Hope this helps!

Re: Opinions on Cap One acct combo options?

Creditaddict — Sun, 24 Apr 2016 23:20:34 GMT

Closing the oldest Platinum will still report as a positive account for 10 years so it won't hurt your AA.

Re: Opinions on Cap One acct combo options?

Peanutbutter — Mon, 25 Apr 2016 00:05:33 GMT

Thank you, CA. I just wanted to make sure.

Re: Opinions on Cap One acct combo options?

Peanutbutter — Mon, 25 Apr 2016 00:11:48 GMT

@ Bone, NRB, UncleB....

Chatted with CS, here's the replay:

(VISA PLAT. PC CHANGE OPTIONS)

Hi, this is Stuart. Whom do I have the pleasure of chatting with today?

Stuart

Hi Peanutbutter

You

I'm interested in product change options for my visa platinum card

Stuart

Sure, I'll quickly access your account and check on available options to help you further.

Stuart

I see that you are currently having cash back card where you are earning 1.25% cash back.

You have an offer to upgrade then card to Quicksilver where you will receive 1.5% cash back on each dollar of your purchase with no annual fee.

You also have an offer to upgrade your card to Venture One where you will receive 1.25 miles per dollar of your purchase with no annual fee.

Currently, your account has annual fee of $19.00, after upgraded, there will be no annual fee charged.

You

if I upgrade to to either of those, do I lose my 05/2006 opened date?

Stuart

No. The account history along with the original terms of your account will remain the same.

One more great thing will be that upgrading the card to different product will not affect your credit score.

You

I see. If I changed to either of those options, what are the APRs and credit limits associated with those options?

Stuart

All terms of your account will remain the same. However, I will check on options for lowering the APR as well as increasing the credit limit as well.

I have an offer to lower your rate to a 15.15% variable for the next 07 months which will start saving you some money every time you use the card. After this offer expires, your interest rate will then be 18.15% which is a variable rate based on Prime plus 14.65%.

Would you like me to lower the APR?

Or would you like me to proceed with upgrade first then move to APR part?

(QS Product Change Options)

You

Are there product change options for my quicksilver card?

Stuart

As I have reviewed your account I see that you are having a quicksilver account where you are currently earning 1.5% cash back with no annual fee.

I am glad to inform you also have a product change offer to upgrade the card to Venture One where you will receive 1.25 miles per dollar of your purchase with no annual fee. However, the APR on this account will remain the same.

You

it'll stay at 13.15%?

Stuart

Yes, you got that correct. Upgrading the account will only change the account rewards type, the other terms remain the same. On this account, there is no offer to lower the APR, however, please keep in mind that Capital One reviews all the account periodically and you may receive an offer to lower the APR soon as well.

/END CHAT

Thoughts?

Re: Opinions on Cap One acct combo options?

Bone35 — Mon, 25 Apr 2016 00:53:31 GMT

@Peanutbutter wrote:
@ Bone, NRB, UncleB....

Chatted with CS, here's the replay:

(VISA PLAT. PC CHANGE OPTIONS)

Hi, this is Stuart. Whom do I have the pleasure of chatting with today?
Stuart
Hi Peanutbutter

You
I'm interested in product change options for my visa platinum card

Stuart
Sure, I'll quickly access your account and check on available options to help you further.

Stuart
I see that you are currently having cash back card where you are earning 1.25% cash back.
You have an offer to upgrade then card to Quicksilver where you will receive 1.5% cash back on each dollar of your purchase with no annual fee.
You also have an offer to upgrade your card to Venture One where you will receive 1.25 miles per dollar of your purchase with no annual fee.
Currently, your account has annual fee of $19.00, after upgraded, there will be no annual fee charged.

You
if I upgrade to to either of those, do I lose my 05/2006 opened date?

Stuart
No. The account history along with the original terms of your account will remain the same.
One more great thing will be that upgrading the card to different product will not affect your credit score.

You
I see. If I changed to either of those options, what are the APRs and credit limits associated with those options?

Stuart
All terms of your account will remain the same. However, I will check on options for lowering the APR as well as increasing the credit limit as well.
I have an offer to lower your rate to a 15.15% variable for the next 07 months which will start saving you some money every time you use the card. After this offer expires, your interest rate will then be 18.15% which is a variable rate based on Prime plus 14.65%.

Would you like me to lower the APR?
Or would you like me to proceed with upgrade first then move to APR part?

(QS Product Change Options)

You
Are there product change options for my quicksilver card?

Stuart
As I have reviewed your account I see that you are having a quicksilver account where you are currently earning 1.5% cash back with no annual fee.
I am glad to inform you also have a product change offer to upgrade the card to Venture One where you will receive 1.25 miles per dollar of your purchase with no annual fee. However, the APR on this account will remain the same.

You
it'll stay at 13.15%?

Stuart
Yes, you got that correct. Upgrading the account will only change the account rewards type, the other terms remain the same. On this account, there is no offer to lower the APR, however, please keep in mind that Capital One reviews all the account periodically and you may receive an offer to lower the APR soon as well.

/END CHAT

Thoughts?

Looks like everything went well!

Id do all the upgrades imho. Plus you get to save the $19 annual fee on your platinum if you choose to keep it open.

The temp interest offer is a gimmick imo and I dont do them. (just eerks me that they wont do a permanent reduction) So I get great joy in saying thanks but no thanks everytime they offer it to me!..LOL

UncleB made a great point about keeping the venture if you dont spend over 12k a year on it. If your spend is over that then it makes sense to have it over another QS. If your spend isnt that high on the Venture than PC to QS so you can save the $59 annual fee.

Rest assure....All your open dates and interest rates will stay the same when you upgrade. I change them around all the time...ha!

Lastly......PLEASE make sure you hit the CLI Luv button BEFORE combining so you get whatever increases available. Once you combine...the 6month clock resets on the card.

If you dont get an increase...check your dates since last increase and if its close to the 6 month mark.... Id wait for an increase first before combining but thats just me

Keep us posted!

Re: Opinions on Cap One acct combo options?

Peanutbutter — Mon, 25 Apr 2016 00:56:06 GMT

Thanks guys for all the help. I think I'll contact them tomorrow to follow through. I'll keep you posted!

Re: Opinions on Cap One acct combo options?

UncleB — Mon, 25 Apr 2016 01:04:26 GMT

@Bone35 wrote:
@Peanutbutter wrote:
@ Bone, NRB, UncleB....

Chatted with CS, here's the replay:

(VISA PLAT. PC CHANGE OPTIONS)

Hi, this is Stuart. Whom do I have the pleasure of chatting with today?
Stuart
Hi Peanutbutter

You
I'm interested in product change options for my visa platinum card

Stuart
Sure, I'll quickly access your account and check on available options to help you further.

Stuart
I see that you are currently having cash back card where you are earning 1.25% cash back.
You have an offer to upgrade then card to Quicksilver where you will receive 1.5% cash back on each dollar of your purchase with no annual fee.
You also have an offer to upgrade your card to Venture One where you will receive 1.25 miles per dollar of your purchase with no annual fee.
Currently, your account has annual fee of $19.00, after upgraded, there will be no annual fee charged.

You
if I upgrade to to either of those, do I lose my 05/2006 opened date?

Stuart
No. The account history along with the original terms of your account will remain the same.
One more great thing will be that upgrading the card to different product will not affect your credit score.

You
I see. If I changed to either of those options, what are the APRs and credit limits associated with those options?

Stuart
All terms of your account will remain the same. However, I will check on options for lowering the APR as well as increasing the credit limit as well.
I have an offer to lower your rate to a 15.15% variable for the next 07 months which will start saving you some money every time you use the card. After this offer expires, your interest rate will then be 18.15% which is a variable rate based on Prime plus 14.65%.

Would you like me to lower the APR?
Or would you like me to proceed with upgrade first then move to APR part?

(QS Product Change Options)

You
Are there product change options for my quicksilver card?

Stuart
As I have reviewed your account I see that you are having a quicksilver account where you are currently earning 1.5% cash back with no annual fee.
I am glad to inform you also have a product change offer to upgrade the card to Venture One where you will receive 1.25 miles per dollar of your purchase with no annual fee. However, the APR on this account will remain the same.

You
it'll stay at 13.15%?

Stuart
Yes, you got that correct. Upgrading the account will only change the account rewards type, the other terms remain the same. On this account, there is no offer to lower the APR, however, please keep in mind that Capital One reviews all the account periodically and you may receive an offer to lower the APR soon as well.

/END CHAT

Thoughts?

Looks like everything went well!

Id do all the upgrades imho. Plus you get to save the $19 annual fee on your platinum if you choose to keep it open.

The temp interest offer is a gimmick imo and I dont do them. (just eerks me that they wont do a permanent reduction) So I get great joy in saying thanks but no thanks everytime they offer it to me!..LOL

UncleB made a great point about keeping the venture if you dont spend over 12k a year on it. If your spend is over that then it makes sense to have it over another QS. If your spend isnt that high on the Venture than PC to QS so you can save the $59 annual fee.

Rest assure....All your open dates and interest rates will stay the same when you upgrade. I change them around all the time...ha!

Lastly......PLEASE make sure you hit the CLI Luv button BEFORE combining so you get whatever increases available. Once you combine...the 6month clock resets on the card.

If you dont get an increase...check your dates since last increase and if its close to the 6 month mark.... Id wait for an increase first before combining but thats just me

Keep us posted!

I have absolutely nothing to add to the above... it's spot-on!

Good luck with your upgrades, and let us know how it goes!

Re: Opinions on Cap One acct combo options?

Bone35 — Mon, 25 Apr 2016 01:12:44 GMT

@Peanutbutter wrote:
Thanks guys for all the help. I think I'll contact them tomorrow to follow through. I'll keep you posted!

Hey Peanutbutter.... One more thing.

If you end up changing your venture to a QS be careful if you have a ton of miles. I cant say for sure, but you might lose if your miles are converted to cash with the upgrade!

I have PC'd from Venture to QS just as a test a while back and all was good (1,000 miles turned into $10) but if I remember correctly the CS rep said that I would lose value since I was going from miles to cash.

Just a heads up... YMMV

Hopefully someone who knows more than I could chime in ?

Re: Opinions on Cap One acct combo options?

Anonymous — Mon, 25 Apr 2016 02:30:26 GMT

I'm looking at doing the exact same thing (just waiting for the next time I can request a CLI, which is in about 3 weeks)

I have a $6k Plat and a $2.6k QS. The Plat just turned 3 and the QS just turned 2 (the HP just fell off the other day). After eeking out whatever I can on the CLI, I am going to combine the Plat to the QS. Even with minimal CLIs, that should still give me somewhere around $10k in total CL.

The Plat will continue to report as my oldest acct for another 10 years. I'd say I'd have one less bill to pay, but I haven't used the Plat in at least 6 months (except for a $5 charge to get the last of my cashback off the card)

Re: Opinions on Cap One acct combo options?

Peanutbutter — Mon, 25 Apr 2016 04:06:53 GMT

@ Bone, UncleB....

I forgot to mention that I did auto request a CLI for all my Cap One cards earlier today. Visa Plat & QS got the "1-3 day review/letter will be mailed" notice but Venture got a 3k CLI (15k --> 18k) so if I do combo I think I'm covered there.

I'm split on the temp APR(v), I don't use the card at all so its not like its gonna sway me to, BUT... if I ever had to, its better to have a lower APR (even for a short time). So I'm debating.

In regard to keeping the Venture or PC'ing it, currently I run <12k through it but we're considering making the transition to charging all montly bills/spending and then PIF at the end of each month. (We haven't made the total leap yet.) If we did though, that would definitely take us over 12k/yr. We're contemplating taking a trip to Kenya next year also, so the Venture Miles could come in more handy vs QS's rewards, right?

Thanks again guys!

Re: Opinions on Cap One acct combo options?

Anonymous — Mon, 25 Apr 2016 04:45:54 GMT

IMO, card use > APR > account age

Strange that they would give you the CLI on one card, but 1-3 days on the other two. I'd personally wait out the 1-3 days, just to see what's happening with them. (Especially since Venture is a higher-tier card, harder to qualify for, and you'd expect harder to CLI)

Based on what the above post laid out, I'd combo the Plat with the Venture (putting the CL where you expect to use it), and keep the QS for now, esp with the lower APR (you can always combo at any time, but can't go back)

GL, no matter what you decide.

Re: Opinions on Cap One acct combo options?

UncleB — Mon, 25 Apr 2016 05:33:25 GMT

@Peanutbutter wrote:
@ Bone, UncleB....

I forgot to mention that I did auto request a CLI for all my Cap One cards earlier today. Visa Plat & QS got the "1-3 day review/letter will be mailed" notice but Venture got a 3k CLI (15k --> 18k) so if I do combo I think I'm covered there.

I'm split on the temp APR(v), I don't use the card at all so its not like its gonna sway me to, BUT... if I ever had to, its better to have a lower APR (even for a short time). So I'm debating.

In regard to keeping the Venture or PC'ing it, currently I run <12k through it but we're considering making the transition to charging all montly bills/spending and then PIF at the end of each month. (We haven't made the total leap yet.) If we did though, that would definitely take us over 12k/yr. We're contemplating taking a trip to Kenya next year also, so the Venture Miles could come in more handy vs QS's rewards, right?

Thanks again guys!

Congrats on the CLI on the Venture! The letter message usually means you're not getting a CLI, with the usual reason being trying too soon. Your nice $3k Venture CLI more than makes up for it, though!

As for the temp APR, the last time I spoke with a rep over the phone (who was fantastic, BTW) I was offered the same deal... since I hardly use the card anymore for anything - and I certainly don't carry a balance on it - I told her I appreciated the offer but there was no need. If there's any chance at all you might carry a balance it certainly doesn't hurt anything, though. If you don't take it now, it will most likely be there later if you change your mind.

If you plan on running more than $12k through the Venture, it would be worth keeping it - or even better, change the QS Visa to a Venture so you can keep the low APR. The reason $12k is significant is that with $12k spending in a year, you would earn $181 with your Venture ($12000 x 2% = $240 (-$59) = $181. With your Quicksilver, you would earn $180 ($12000 x 1.5%). If you spend less than $12k, after you subtract the AF from the Venture, you actually end up with less cash rewards than with a Quicksilver.

Your Kenya trip sounds exciting! You'll definitely want a no-FTF card when you travel overseas, and you're covered with any Capital One card. As for the "miles", that's really just a gimmick Capital One uses... the way the Venture rewards work is you get 2% cash-equivalent "miles" but you must take a credit against travel charges or gift cards for full value - if you want straight cash you'll take a hit. On the other hand, with a Quicksilver they will mail you a check or give you a statement credit for the full 1.5% value, no questions asked. In your case it sounds like you'll have plenty of travel expenses, so you don't have to be too concerned with the Venture restrictions when you are making your own comparisons.

I hope this helps; sometimes detail is good; other times too much detail just makes something that's not really complicated seem like a monster. Hopefully I've found the right mix here!

Side note: If you want to check your other cards to see if you just tried for the CLI too early, you should find the dates of your last CLIs online. You will want to check under "Statements and Documents" (not 'Messages', where you would think it would be).

In this screen print, "Credit Limit Increase Request" was when I tried too early, and "Account Change Confirmation" was when I actually got my CLI. In my case, you can see that I'll be eligible to try again on or after June 4. (No more trying too soon for me! LOL)

Re: Opinions on Cap One acct combo options? [UPDATE]

Peanutbutter — Sun, 01 May 2016 21:04:55 GMT

Not super exciting but I did an account combo of the Visa Plat and my QS, I'm considering a future combo of this QS and my Venture, I'm not excited about the effects on & of the utilization aspect are, but its something to consider. Thoughts are welcome.

Re: Opinions on Cap One acct combo options?

SunriseEarth — Mon, 02 May 2016 19:45:57 GMT

@Bone35 wrote:
@Peanutbutter wrote:
Thanks guys for all the help. I think I'll contact them tomorrow to follow through. I'll keep you posted!
Hey Peanutbutter.... One more thing.

If you end up changing your venture to a QS be careful if you have a ton of miles. I cant say for sure, but you might lose if your miles are converted to cash with the upgrade!

I have PC'd from Venture to QS just as a test a while back and all was good (1,000 miles turned into $10) but if I remember correctly the CS rep said that I would lose value since I was going from miles to cash.

Just a heads up... YMMV

Hopefully someone who knows more than I could chime in ?

This isn't true. When I PCed my VentureOne to QS, my rewards transferred point for point. I had about 20,000 points on my V1, which became $200 CB on QS.

Re: Opinions on Cap One acct combo options?

Bone35 — Mon, 02 May 2016 20:21:38 GMT

@SunriseEarth wrote:
@Bone35 wrote:
@Peanutbutter wrote:
Thanks guys for all the help. I think I'll contact them tomorrow to follow through. I'll keep you posted!
Hey Peanutbutter.... One more thing.

If you end up changing your venture to a QS be careful if you have a ton of miles. I cant say for sure, but you might lose if your miles are converted to cash with the upgrade!

I have PC'd from Venture to QS just as a test a while back and all was good (1,000 miles turned into $10) but if I remember correctly the CS rep said that I would lose value since I was going from miles to cash.

Just a heads up... YMMV

Hopefully someone who knows more than I could chime in ?

This isn't true. When I PCed my VentureOne to QS, my rewards transferred point for point. I had about 20,000 points on my V1, which became $200 CB on QS.

Wasnt making a statement of fact.... Just a heads up from what a CS rep told me. I would rather error on the side of caution and FULLY inform just in case there was an issue. The Rep said I would receive half the value of my miles..as if I was redeeming my miles as statement credit.

I was skeptical...so I tried to test

Right below that I included my experience with PCing my cards which yielded the same result as yours.

The more info we have...The better prepared we are.

Maybe I'm just sensitive..lol but you could have worded that better

Re: Opinions on Cap One acct combo options?

SunriseEarth — Mon, 02 May 2016 22:33:36 GMT

@Bone35 wrote:
@SunriseEarth wrote:
@Bone35 wrote:
@Peanutbutter wrote:
Thanks guys for all the help. I think I'll contact them tomorrow to follow through. I'll keep you posted!
Hey Peanutbutter.... One more thing.

If you end up changing your venture to a QS be careful if you have a ton of miles. I cant say for sure, but you might lose if your miles are converted to cash with the upgrade!

I have PC'd from Venture to QS just as a test a while back and all was good (1,000 miles turned into $10) but if I remember correctly the CS rep said that I would lose value since I was going from miles to cash.

Just a heads up... YMMV

Hopefully someone who knows more than I could chime in ?

This isn't true. When I PCed my VentureOne to QS, my rewards transferred point for point. I had about 20,000 points on my V1, which became $200 CB on QS.
Wasnt making a statement of fact.... Just a heads up from what a CS rep told me. I would rather error on the side of caution and FULLY inform just in case there was an issue. The Rep said I would receive half the value of my miles..as if I was redeeming my miles as statement credit.
I was skeptical...so I tried to test

Right below that I included my experience with PCing my cards which yielded the same result as yours.

The more info we have...The better prepared we are.

Maybe I'm just sensitive..lol but you could have worded that better

The info that the rep gave you is muddled. if you were to redeem the miles on non-travel purchases prior to a PC, you'd get half-value. However, if you leave the miles and PC, then you'd get one cent per mile.

My remarks about the rep's words not being true were solely directed at the rep, not you. I apologize if that didn't come across as clearly as I intended.

Re: Opinions on Cap One acct combo options?

Bone35 — Mon, 02 May 2016 23:02:13 GMT

@SunriseEarth wrote:
@Bone35 wrote:
@SunriseEarth wrote:
@Bone35 wrote:
@Peanutbutter wrote:
Thanks guys for all the help. I think I'll contact them tomorrow to follow through. I'll keep you posted!
Hey Peanutbutter.... One more thing.

If you end up changing your venture to a QS be careful if you have a ton of miles. I cant say for sure, but you might lose if your miles are converted to cash with the upgrade!

I have PC'd from Venture to QS just as a test a while back and all was good (1,000 miles turned into $10) but if I remember correctly the CS rep said that I would lose value since I was going from miles to cash.

Just a heads up... YMMV

Hopefully someone who knows more than I could chime in ?

This isn't true. When I PCed my VentureOne to QS, my rewards transferred point for point. I had about 20,000 points on my V1, which became $200 CB on QS.
Wasnt making a statement of fact.... Just a heads up from what a CS rep told me. I would rather error on the side of caution and FULLY inform just in case there was an issue. The Rep said I would receive half the value of my miles..as if I was redeeming my miles as statement credit.
I was skeptical...so I tried to test

Right below that I included my experience with PCing my cards which yielded the same result as yours.

The more info we have...The better prepared we are.

Maybe I'm just sensitive..lol but you could have worded that better

The info that the rep gave you is muddled. if you were to redeem the miles on non-travel purchases prior to a PC, you'd get half-value. However, if you leave the miles and PC, then you'd get one cent per mile.

My remarks about the rep's words not being true were solely directed at the rep, not you. I apologize if that didn't come across as clearly as I intended.

Appreciate the clarification

Sorry If I came off sideways...just wanted to clear the air.

Thx