topic Re: Finally!! The Capital One combination is complete! in Credit Cards

Finally!! The Capital One consolidation is complete!

Gmood1 — Mon, 13 Jun 2016 08:45:43 GMT

Knowing once I combine I'm locked out of CLI's for a while. I've been trying to get one more increase over the last two weeks before I combine . 3 days ago Cap gave me a $1K increase on one of my Ventures. I went in and zeroed out all of my balances yesterday, paying off all.

This morning I logged in hoping they would allow me to combine. To my surprise, all of the cards were available to combine! I did everything from my cell phone in under 5 mins!

The CL on this card started at $1100 and never changed in the 8 years I've had it. In Feb. of this year, the card was still at $1100. lol

Today this card is at $49,500!

Next up will be my Chase cards. My goal is to have maybe 15 CC's or less with an average credit limit of $20,000 each.

Re: Finally!! The Capital One combination is complete!

Saleen099 — Sun, 12 Jun 2016 13:22:55 GMT

Nice Congrats!!!!!

Re: Finally!! The Capital One combination is complete!

Gmood1 — Sun, 12 Jun 2016 13:29:12 GMT

@Saleen099 wrote:
Nice Congrats!!!!!

Thank you Saleen! I never thought in a million years I'd have cards with limits this high! It's because of the great folks like yourself on this site that I'm able to do any of this stuff.

Re: Finally!! The Capital One combination is complete!

Anonymous — Sun, 12 Jun 2016 13:44:39 GMT

Nicely done!

Re: Finally!! The Capital One combination is complete!

Gmood1 — Sun, 12 Jun 2016 13:55:30 GMT

Thanks Never too late , I'm hoping it helps with increases from some of my other lenders. I know some say it's not true. Though in my limited experience, 5 digit limits seem to attract other 5 digit limts from competing lenders. We'll have to see what happens. Next up at the end of the month is USAA. I'm going to ask for a CLI and let the chips fall where they may.

Re: Finally!! The Capital One combination is complete!

Loquat — Sun, 12 Jun 2016 15:09:21 GMT

Congrats on the combine... Thinking about doing that with my 4 cards... just haven't pulled the trigger yet

Re: Finally!! The Capital One combination is complete!

Gmood1 — Sun, 12 Jun 2016 15:33:41 GMT

@Loquat wrote:
Congrats on the combine... Thinking about doing that with my 4 cards... just haven't pulled the trigger yet

Thank you!! Capital One sure has come a long way in the time I've had them. Their phone app is one of my favorites!

What are you waiting for Loquat? In the last three months I've eliminated 7 CC's. I'll likely eliminate 3 more before I'm done.

Re: Finally!! The Capital One combination is complete!

RonM21 — Sun, 12 Jun 2016 15:59:33 GMT

Good job getting this done!

Re: Finally!! The Capital One combination is complete!

Gmood1 — Sun, 12 Jun 2016 16:02:18 GMT

@RM21 wrote:
Good job getting this done!

Thanks! Now what do I have to do to get one of those pretty Alliant cards? lol

Re: Finally!! The Capital One combination is complete!

Anonymous — Sun, 12 Jun 2016 21:14:26 GMT

Serious question: What is the benefit of combining accounts?

Re: Finally!! The Capital One combination is complete!

Gmood1 — Sun, 12 Jun 2016 21:27:00 GMT

The benefits for me are less accounts to manage while maintaining my utilization padding. It also gives me a mega limit card to use when I need to. It also shows other creditors how I handle a large limit card. IME birds of a feather flock together. Meaning certain credit limits seem to attract similar limits from other lenders.

Re: Finally!! The Capital One combination is complete!

Anonymous — Sun, 12 Jun 2016 21:26:13 GMT

@Anonymous wrote:
Serious question: What is the benefit of combining accounts?

Higher credit limit than the individual cards would have had.

If you have multiple cards from an issuer but only use one, it's not a given that you can close the inactive cards and CLI the one you use. Combining accounts lets you do that, and often gets you a higher CL than you would have otherwise gotten. It also avoids additional credit pulls that come with hard pull CLIs or opening new accounts.

Re: Finally!! The Capital One combination is complete!

Anonymous — Mon, 13 Jun 2016 06:58:49 GMT

Congrats!!!! I want to do the same. Wasn't sure they would actually go through with it. Nice to know they will. Just freaks me out looking at that number!!!!

Re: Finally!! The Capital One combination is complete!

Gmood1 — Mon, 13 Jun 2016 08:43:15 GMT

@Anonymous wrote:
Congrats!!!! I want to do the same. Wasn't sure they would actually go through with it. Nice to know they will. Just freaks me out looking at that number!!!!

Thanks Sandi! Yeah, that number freaks me out as well.

I went back and looked at when my last two cards were obtained. Cap one allowed the consolidation exactly 181 days from the day I apped for the cards.

Re: Finally!! The Capital One combination is complete!

Anonymous — Mon, 13 Jun 2016 11:32:39 GMT

Congratulations! Well done!

Re: Finally!! The Capital One consolidation is complete!

Gmood1 — Mon, 13 Jun 2016 12:32:15 GMT

Thanks Music lover!

Re: Finally!! The Capital One consolidation is complete!

drboxing — Mon, 13 Jun 2016 15:16:35 GMT

How in the world did you accomplish that? That's very impressive

Re: Finally!! The Capital One consolidation is complete!

Gmood1 — Mon, 13 Jun 2016 20:07:43 GMT

@drboxing wrote:
How in the world did you accomplish that? That's very impressive

Thanks, to answer your question I apped last year for two Quickslivers and two Ventures. My apps ran roughly 90 days apart. After the first 90 days I requested CLI's.

The first Venture which was approved for $15,000 was raised to $18,000 and the QS was raised from $5000 to $5400. I received another $1000 cli 90 days later on the same QS making it $6400. Around the same time I doubled apped for another Venture and QS. Starting limits $15,000 Venture and $5000 QS. 90 days after those apps I requested CLI's. The 2nd Venture was raised to $18,000. The 2nd QS never received a CLI. Last week I was able to get one of the Venture's CLI to $19,000.

In Feb of this year, I requested my Cap one Platinum($1100) be PC'd to a QS per advice on the forum. I then closed my oldest QS(not even a year old) at $6400 and moved that limit to the PC'd QS making it $7500. I knew in June my other cards should be eligible for consolidation. I then took both Ventures($37,000) total and the remaining QS ($5000) and consolidated them into the $7500 QS. Presto..now I have an almost 9 yr old reporting QS Mastercard with a $49,500 CL.

Re: Finally!! The Capital One consolidation is complete!

DoroLucky — Mon, 13 Jun 2016 20:08:13 GMT

NOICEEEE!!!

Re: Finally!! The Capital One consolidation is complete!

drboxing — Mon, 13 Jun 2016 20:10:07 GMT

Thanks so much for sharing. Wish I had done that with my cap1 cards. I'll pay them down then look to consolidate them. Thanks again