topic Re: Cap 1 PC vs Combination in Credit Cards

Cap 1 PC vs Combination

Anonymous — Sun, 15 Oct 2017 23:45:36 GMT

My wife has a C1 Platinum with a $3500 limit and a $0 balance opened in Feb 2017 that is eligible for a PC to QS or Venture1. She also has a QS1 with and $1800 and a $700 something balance opened in July 2015. She likes the cash back and prefers to keep that so I think the V1 is out. My question is should she combine the Platinum to the QS1 and wait awhile to see if she has an offer to PC to QS, or PC the Platinum to a QS now and wait to see if she can PC the QS1 to QS later and then combine. She ultimately wants to combine, but her older card isnt eligible just yet. Any insight on this is greatly appreciated. Thanks in advance.

Re: Cap 1 PC vs Combination

EAJuggalo — Sun, 15 Oct 2017 23:48:14 GMT

PC the Plat to the QS then fold the QS1 into it whenever you can. It's uncommon for Capital One to PC a QS1 with an annual fee to a QS without one.

Re: Cap 1 PC vs Combination

simplynoir — Sun, 15 Oct 2017 23:49:13 GMT

@EAJuggalo wrote:
PC the Plat to the QS then fold the QS1 into it whenever you can. It's uncommon for Capital One to PC a QS1 with an annual fee to a QS without one.

+1 all of this.

Re: Cap 1 PC vs Combination

Anonymous — Sun, 15 Oct 2017 23:58:09 GMT

Would that not affect her AAOA being that the QS1 is a yr and a half older? One thought I had was that if we combined the Platinum to the QS1 that would put her QS1 at a $5300 limit, would that not be enough to PC to QS? I did a search and have read of multiple PC's from QS1 to QS so I know it happens albeit not as often as Plat to QS. I appreciate your input, that may be the route we go, just wanted to figure out a way to keep the oldest line and get it to a QS if possible.

Re: Cap 1 PC vs Combination

EAJuggalo — Mon, 16 Oct 2017 00:57:53 GMT

In ten years when the account disappears from her CR it would affect AAoA but not until then. The CL has nothing to do with whether it is a QS or QS1, the only difference is the annual fee. Which Cap1 is understandably reticent to give up.

Re: Cap 1 PC vs Combination

Anonymous — Mon, 16 Oct 2017 01:02:42 GMT

So if I understand correctly, the account will remain for ten years even if she combines that one into a newer account thus not affecting AAOA immediately? Thanks again for getting back to me.

Re: Cap 1 PC vs Combination

RadioRob — Mon, 16 Oct 2017 01:10:18 GMT

Correct. The old account continues to report for 10 years since it was last open. So you get benefit from it for awhile longer.

Re: Cap 1 PC vs Combination

HeavenOhio — Mon, 16 Oct 2017 01:21:37 GMT

There's a teensy-weensy remote chance that the closed card could drop off of her report tomorrow, but it's likely to remain on her report for up to 10 years. Does she have any other cards? Is the QS1 by far her oldest?

The reason she currently can't combine the QS1 into her Platinum is the fact that it has a balance. "Donor" cards must have a balance of zero and no pending charges.

As mentioned, it's very difficult to product-change a QS1, but it's been done. I was able to PC mine after about twelve consecutive months of usage and payments. If you want to try that, use it every month, and call in and check for PC offers every month.

The bottom line is that the QS1 isn't a "keeper" card. Once one has better cards in hand, it needs to be closed, combined, or product-changed at some point.

Re: Cap 1 PC vs Combination

Anonymous — Mon, 16 Oct 2017 01:22:11 GMT

Thanks! We are changing the Platinum to QS and when we pay off the QS1 we will combine. She has a Discover IT card coming with 0% BT for 14 months so we may do that to be able to combine sooner and get away from the interest charges as well.

Re: Cap 1 PC vs Combination

Anonymous — Mon, 16 Oct 2017 01:29:31 GMT

The Cap1 cards were her only ones until last Wednesday, she has a Discover It ($8,000) and an Amex BCE ($500) on the way. She has had cards in the past that she didnt do too well with but they have been paid for less than owed for about 2 yrs now. Care Credit and one from Sleep Number for a bed. A couple of medical bills from 3 or 4 yrs ago. We are slowly getting her some better cards and working on getting better upgrades through Cap 1. Hopefully in 6 months to a yr from getting the QS we will try for Venture. May just let them grow and let inquiries fall for a yr and try Chase again...

Re: Cap 1 PC vs Combination

UncleB — Mon, 16 Oct 2017 03:02:08 GMT

@HeavenOhio wrote:

There's a teensy-weensy remote chance that the closed card could drop off of her report tomorrow, but it's likely to remain on her report for up to 10 years.

^^^ This.

I cringe when I see people post that a closed account will report for 10 years, when it's actually up to 10 years.

I've personally had closed accounts stop reporting before 10 years, and when it happens there's no recourse (they aren't required to report info on closed accounts, they're just allowed to).

Admittedly that's a nuanced distinction, but can be important to some people.