topic Re: CapitalOne combine in Credit Cards

CapitalOne combine

raisemysc0re — Wed, 17 Jan 2018 19:58:34 GMT

I have a QS with a 17K limit that I opened about 18 months ago, at the begining of my rebuild, but the APR is stuck at 19.24%

I am now prequalified to get another CapOne QS card with a better APR of 14.24%.

I am considering this with the idea of combining the credit limit into one card.

I don't know what the SL limit would be on the new card.

I'm nervous that if I combine them I will either have:

1. A older card with a bad APR but better AAoA

2. A newer card with a lower APR but worse AAoA.

I wouldn't want to combine the newer limit to a higher APR card but also wouldn't want to lose my oldest account...

APR is not usually an important factor since I PIF all of my credit cards... But you never know when something could happen!

Could I just combine a portion of my old card to the new one giving me the option of a high CL on the line with the lowest APR and also keep my oldest post rebuild trade line open?

Re: CapitalOne combine

Dalmus — Wed, 17 Jan 2018 20:16:04 GMT

Two things...

1) In order to combine, BOTH cards need to be at least six months old.

2) You will have to apply for and get the new card, of course, so in that sense, yes, your AAoA would be affected. But when you combine the cards, there will be no change in your AAoA because the card that is closed will continue to age and report for 7-10 years.

3) Unless you USE a good portion of that 17K credit limit on a regular basis (I'm talking 1/3 to 1/2 in transactions, whether or not you PIF), combining that limit with another card could put you into Cap1's sites to do a balance decrease because you are not USING the larger credit limit. Several people here have been decreased from $20-25K down to $10K for that exact reason.

4) I'd probably just apply for the new card and let it be its own entity with a lower APR. But keep in mind, if you pay in full each month, APR doesn't matter.

Okay, so that was four things...

Re: CapitalOne combine

raisemysc0re — Wed, 17 Jan 2018 20:35:45 GMT

Good points.

I always seem to have an itchy trigger finger but I hardlky ever scratch it.

My main reasons for getting the new card was to transfer all of some of the 17K to a lower interest card and also have a higher limit card which I've read produces higher SL's when opening new accounts.

I think I'll wait until I actually need a new card. Maybe when I need to take advantage of the 9mo 0% intro APR.

Re: CapitalOne combine

Dalmus — Wed, 17 Jan 2018 20:40:44 GMT

@raisemysc0re wrote:
Good points.
I always seem to have an itchy trigger finger but I hardlky ever scratch it.
My main reasons for getting the new card was to transfer all of some of the 17K to a lower interest card and also have a higher limit card which I've read produces higher SL's when opening new accounts.
I think I'll wait until I actually need a new card. Maybe when I need to take advantage of the 9mo 0% intro APR.

I know the feeling... I've been on a role this year with all 5 digit SL approvals. Discover is prequaling me rightnow with a 14mo 0% APR. I'm resisting though... One, I already have an IT. And, two, I already have 4 new accounts in 2017. Gotta stay in the garden!

Re: CapitalOne combine

HeavenOhio — Wed, 17 Jan 2018 20:58:17 GMT

I don't believe you can transfer part of a Capital One card's limit to another. That's something you should call and ask about so you know for sure before applying rather than finding out after.

Re: CapitalOne combine

Dalmus — Wed, 17 Jan 2018 21:14:33 GMT

@HeavenOhio wrote:
I don't believe you can transfer part of a Capital One card's limit to another. That's something you should call and ask about so you know for sure before applying rather than finding out after.

I actually didn't catch that.

BUT... you CAN do a "hassle free check" as your balance transfer, and they send you a check, you deposit it, and then pay off the other card with the money from you checking account.

Discover will basically do the same thing, only they'll electronically deposit the money.

Re: CapitalOne combine

raisemysc0re — Wed, 17 Jan 2018 22:39:34 GMT

Not thinking of transferring the balance as I never carry one.

More of transferring credit line.

I know you can combine 2 CapOne cards and my question was if I could transfer credit line portions between cards.

Re: CapitalOne combine

UncleB — Wed, 17 Jan 2018 23:06:42 GMT

@raisemysc0re wrote:
Not thinking of transferring the balance as I never carry one.
More of transferring credit line.
I know you can combine 2 CapOne cards and my question was if I could transfer credit line portions between cards.

The answer to this is no, at least not at this time.

Re: CapitalOne combine

Shooting-For-800 — Fri, 19 Jan 2018 14:07:16 GMT

why combine them?

if you got prequal for venture, it is probably pretty good CL based on your interest rate (lowest avail)

Larger limit cap one cards get more attention.

I would just keep both cards seperate

Re: CapitalOne combine

raisemysc0re — Sat, 20 Jan 2018 02:25:14 GMT

I guess that is my concern... That I apply for the new card, get a low interest rate but not a high CL.

If I apply and get a decent SL than I would just keep them both seperate and be finie with it.

Re: CapitalOne combine

Shooting-For-800 — Sat, 20 Jan 2018 14:35:21 GMT

My last application got me $30k at 13.99%

My scores were lower than yours on average.

But I do put more than $7k through Cap One monthly.

My previous highest SL was $10k.

If your scores are better than they were when you got your other Cap One card and

Since you have a Cap One card for $17k, I would go for it.

This is based on you being prequal for VENTURE.

Re: CapitalOne combine

raisemysc0re — Sat, 20 Jan 2018 16:00:17 GMT

I'm actually thinking about a second QS since I do not do much travelling.

The only travelling I do is for work and when I do, they prepay for everything.

I only do about 2K /month through them and my household income reported to them is 150K.

I would be happy with around 15K but am nervous it would only be around 5K...

Also to note is that I just got a CLI from 14K to 17K a few weeks ago.

Re: CapitalOne combine

raisemysc0re — Mon, 22 Jan 2018 02:13:06 GMT

I applied for a 2nd QS and got 10K at 14.24%

Less than I had hoped for but more than I was worried I'd get.

Re: CapitalOne combine

Shooting-For-800 — Tue, 23 Jan 2018 11:11:14 GMT

Better than a broken toe.