Advice on Cap1 CC Consolidation

Anonymous · ‎02-26-2016

Hello all. Have been contemplating consolidating one of my three Cap1 cards. Here are the cards that I have, including APR and date of account opening:

Cap1 QS WMC - Opened 11/13 - CL $9,500 - APR 23.15% (promotional 20.15% until September)

Cap1 QS VSIG - Opened 05/15 - CL $12,000 - APR 18.15% (promotional 0% until April)

Cap1 Venture VSIG - Opened 05/15 - CL $21,000 - APR 18.15% (promotional 15.5% until September)

It is kinda hard to show love to all of them, considering that I have a nice lineup of other cards as well. I like the WMC because it was my first card with them, and because I travel quite a bit and some places prefer MC to Visa (not many places but they are out there). The APR is a bummer, but since I PIF it really does not matter that much. One more factor to consider is that if I ever want to downgrade the Venture VSIG (if I get a better travel card - looking at the CSP sometime in the future) it would become another QS VSIG.

Please let me know what you think. It is really not pressing issue; just something that has crossed my mind now and then when I log into pay. Thank you all in advance.

Anonymous · ‎02-26-2016

just combine your new QS to the old one to keep the longevity and have both networks since that seems to benefit you. as you said, APR isn't a big deal if you PIF so that is what i would do.

FinStar · ‎02-26-2016

If the system allows you to combine (whenever you're ready), I would fold the QS WMC into the QS VS. I can see if it was 10+ years in age but 11/13 is only 2 years in the lead from the QS VS as far as the opening date. Besides, it will reflect on your CRs as a positive (closed) tradeline for around ~10 years.

I've traveled to several places around the world and can honestly tell you I've yet to encounter any places who didn't accept both - of course this depends where you go. While there can be instances where MC could be accepted over V, the number of places as far as acceptance is very small.

UncleB · ‎02-26-2016

@Anonymous wrote:
Hello all. Have been contemplating consolidating one of my three Cap1 cards. Here are the cards that I have, including APR and date of account opening:

Cap1 QS WMC - Opened 11/13 - CL $9,500 - APR 23.15% (promotional 20.15% until September)
Cap1 QS VSIG - Opened 05/15 - CL $12,000 - APR 18.15% (promotional 0% until April)
Cap1 Venture VSIG - Opened 05/15 - CL $21,000 - APR 18.15% (promotional 15.5% until September)

It is kinda hard to show love to all of them, considering that I have a nice lineup of other cards as well. I like the WMC because it was my first card with them, and because I travel quite a bit and some places prefer MC to Visa (not many places but they are out there). The APR is a bummer, but since I PIF it really does not matter that much. One more factor to consider is that if I ever want to downgrade the Venture VSIG (if I get a better travel card - looking at the CSP sometime in the future) it would become another QS VSIG.

Please let me know what you think. It is really not pressing issue; just something that has crossed my mind now and then when I log into pay. Thank you all in advance.

I partially understand your dilemma, having both a QS Visa Signature and a QS MasterCard I'll be the first to say while the rewards are identical, even with two Quicksilver cards the terms can be quite different otherwise.

In your case, if you have a specific need for a MasterCard, that makes things somewhat simpler - you should probably keep it, at least at this time.

As for your Visa cards, they were opened the same month, and have the same APR, so there's no harm at all in combining them if that's what you want to do. You can either wait until the QS promo is over then combine it into the Venture, then PC the Venture into a QS, or wait until September to simply combine the Venture into the QS, no PC required. It really depends on the value of the APR promos which card you end up keeping, since once the promos are over the APR would be the same either way.

Hope this helps!

Anonymous · ‎02-26-2016

Your credit scores are only a few points away from 800. I would rather not close cards right now as you might lose some points, but I really like to get over 800 even though it may not be very useful.

After a couple years I would combine all the Capital one cards, but just to make managing cards easier.

EAJuggalo · ‎02-27-2016

I would fold the QS Visa Sig into the QS WMC. There are a couple of things that having a MC matters for. There are some perks at MLB events for MC cardholders and you already have another Visa Sig in the Venture. Out of curiousity, why couldn't you downgrade the Venture to the Venture One and keep the Visa Sig? I have almost no knowledge of the Venture lines of cards.

EX700 TU 704 EQ 694 4/03/22
Cap1 QS-$4,500 Chase Freedom Flex- $800 Chase Freedom Unlimited- $1,000 Victoria's Secret- $1,200 Citi DC- $800 Amazon Store Card- $3,500 AMEX Hilton Honors-$1,000 Discover It-$1,000 Wal-Mart MC $290 Chase Sapphire Preferred-$5,000 NFCU Flagship $13,800 AMEX BCE-$1,000 AMEX Gold-$5,000 AMEX Delta Blue $1,000 Lowe's $5,000 Navy Platinum $17,000 AMEX BBP $2,000

Anonymous · ‎02-27-2016

Thank you all for the good advice. I almost wish there was a consensus, but given the replies of some contributors whose input I value is still varying, I guess I was not all that crazy to have these questions in the first place

Anonymous · ‎02-27-2016

the only reason any of us suggest combining the QS visa into the mastercard is because you said you needed the mc lol. otherwise i would just put the mc into the visa

Anonymous · ‎02-27-2016

@EAJuggalo wrote:
I would fold the QS Visa Sig into the QS WMC. There are a couple of things that having a MC matters for. There are some perks at MLB events for MC cardholders and you already have another Visa Sig in the Venture. Out of curiousity, why couldn't you downgrade the Venture to the Venture One and keep the Visa Sig? I have almost no knowledge of the Venture lines of cards.

Thanks for the input. I am not really sure what you mean by "downgrading the Venture into Venture One and keep the Visa Sig".

As for the Venture cards, basically the Venture is 2 miles per dollar with an AF of $59 after the first year (this can be waived). The Venture One is a no AF 1.25 miles per dollar card. I do not mind the AF and downgrading it to Venture One would pretty much render it useless; since the QS would give me 1.5% back instead of 1.25 miles per dollar.

Anonymous · ‎02-27-2016

^ thank you for seeing it logically. the venture one is a quite pointless card.