topic Re: Capital One combination in Credit Cards

Capital One combination

Anonymous — Wed, 14 Jun 2017 18:34:28 GMT

Trying to decide what to do with my C1 QS & QSONE. Both are $1k CL's. QS is an upgrade from a Platinum that I've had for a little over a year. Just received the QSONE.

Only reason I'm considering combining is because it would be far more useful as a $2k CL. I've just completed a small spree and want to garden for a while. Otherwise, I'd keep both for the payment count.

I've added the following in the last week...

Disc IT $800 SL

Chase FU $4500 SL

Opened NFCU accounts and received GoRewards $2900 SL

Will having 2 nearly identical C1's at $1k each be that beneficial vs the small hit I'd take combining to a single $2k card? Most of my spending will be focused towards the Dist & Chase opening offers.

Re: Capital One combination

MrDisco99 — Wed, 14 Jun 2017 18:39:04 GMT

What hit? Combine the cards and get rid of the AF. I see no downside to this.

Re: Capital One combination

Anonymous — Wed, 14 Jun 2017 18:52:13 GMT

Just figured that since I'd be closing an account, that there would be some sort of hit. Without that though, I agree that it's a pretty simple decision.

Re: Capital One combination

simplynoir — Wed, 14 Jun 2017 18:54:41 GMT

The only real hit I see is probably just AAoA but even then that closed account will stay on for the next 10 years.

Re: Capital One combination

Anonymous — Wed, 14 Jun 2017 19:06:08 GMT

Would it be better to leave it and let it grow, eventually PCR'ing to a different C1 down the road then like a Venture or somthing? I don't care about the AF, for now. I'd like to do what's best for my credit.

Re: Capital One combination

MrDisco99 — Wed, 14 Jun 2017 19:26:52 GMT

@Anonymous wrote:
Would it be better to leave it and let it grow, eventually PCR'ing to a different C1 down the road then like a Venture or somthing? I don't care about the AF, for now. I'd like to do what's best for my credit.

There's no real difference between 2 x $1000 cards vs. 1 x $2000 card with the same lender on your credit score. The one card with double the limit would be more useful. No need to pay extra for a card you don't need.

Re: Capital One combination

CYBERSAM — Wed, 14 Jun 2017 20:30:28 GMT

You can see if you can combine with Cap1 http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-check-for-upgrade-link/td-p/4934733

I would leave the oldest TL and try to combine the newest one to it.

Re: Capital One combination

Anonymous — Wed, 14 Jun 2017 20:52:36 GMT

Yes, as above. And in my experience, they both had to have a zero balance to combine; I believe the website said differently, but it would not allow the combo until both were at zero.

Re: Capital One combination

rmduhon — Wed, 14 Jun 2017 23:06:57 GMT

I didn't have to have the card I was keeping at zero, just the card that was getting closed. Of course, that may have changed in the last month since I combined the cards.

Re: Capital One combination

SunriseEarth — Thu, 15 Jun 2017 02:19:41 GMT

@Anonymous wrote:
Trying to decide what to do with my C1 QS & QSONE. Both are $1k CL's. QS is an upgrade from a Platinum that I've had for a little over a year. Just received the QSONE.

Only reason I'm considering combining is because it would be far more useful as a $2k CL. I've just completed a small spree and want to garden for a while. Otherwise, I'd keep both for the payment count.

I've added the following in the last week...

Disc IT $800 SL
Chase FU $4500 SL
Opened NFCU accounts and received GoRewards $2900 SL

Will having 2 nearly identical C1's at $1k each be that beneficial vs the small hit I'd take combining to a single $2k card? Most of my spending will be focused towards the Dist & Chase opening offers.

If you just got the QS1, I'd say wait and see if you can get a CLI, and then combine it into the QS before your AF comes up.

Re: Capital One combination

Anonymous — Thu, 15 Jun 2017 03:45:45 GMT

If you just got the QS1, you may not be able to combine yet. I'd also suggest waiting to see if you get a CLI before credit steps, and then your step increase.
I combined all 3 of the Cap1 cards I had a few months ago. The two I closed were at 0, but the one I kept wasn't

Re: Capital One combination

Anonymous — Thu, 15 Jun 2017 08:04:52 GMT

They have a whole set of rules for combinations, you can simple try to do it online and it will show you if your eligible. I combined three accounts into one got rid of an annual fee and now have my Cap One Venture One card with a $10,100 limit. They will not consider you for a CLI for 180 days after the combination but other than that I don't see any downside. BTW I started out 2 years before this combination with a Platimum card with a limit of $300 and built from there. Unfortunately they have really tightened up on CLI's so it will probably be tougher in the future to get significant CLIs.

Re: Capital One combination

Anonymous — Fri, 16 Jun 2017 15:20:54 GMT

Credit Steps will bring me to $1500 in Dec from $1k today. I'll keep it around and try for a CLI in Sept, stack the credit steps and maybe PC to Venture. I don't really have a travel card. I'd just hate to have a 2 month old account on my CR for a decade.

Re: Capital One combination

rmduhon — Fri, 16 Jun 2017 15:41:20 GMT

It wouldn't stay 2 months old because it'll continue to age during those 10 years.and it has to be at least 6 months old before you can combine it if this is the card that will be closed.