Cap 1 Account Combination - Any Downsides?

[Man-Of-Steel]

I was also considering an account combination for my Venture and Quicksilver.  Here are some details regarding both accounts.

Quicksilver - $9K CL, opened in Jan. 2014, APR 20.9 (original CL was $3K)

Venture - $21K CL, opened in April 2015, APR 12.9

At one point I was considering combining the Venture into the QS because the QS is older, but given the huge jump in APRs, that would probably be a silly move.  I contacted Capital One via chat earlier today and checked to see if I could PC the Venture into a QS.  They told me that I had the PC option available and they went ahead and made the change.  I love the fact that it was such a hassle free process.  I may still combine these accounts at some point in the future (if the option is still available), but for now I'd like to keep the accounts separate.  I'd like to keep my options open since both accounts are very easy to manage together.

[NRB525]

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@Man-Of-Steel wrote:

I was also considering an account combination for my Venture and Quicksilver.  Here are some details regarding both accounts.

Quicksilver - $9K CL, opened in Jan. 2014, APR 20.9 (original CL was $3K)

Venture - $21K CL, opened in April 2015, APR 12.9

At one point I was considering combining the Venture into the QS because the QS is older, but given the huge jump in APRs, that would probably be a silly move.  I contacted Capital One via chat earlier today and checked to see if I could PC the Venture into a QS.  They told me that I had the PC option available and they went ahead and made the change.  I love the fact that it was such a hassle free process.  I may still combine these accounts at some point in the future (if the option is still available), but for now I'd like to keep the accounts separate.  I'd like to keep my options open since both accounts are very easy to manage together.

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Did you happen to have any rewards points/miles remaining open on the Venture when it was PC to a QS? If so, did they just convert to cashback?

[pizza1]

Don't really see too much of a downside to it...

The "exposure" is already there whether its tied up in 1 card or 5 cards, so combining the limits doesn't change the exposure.

If the lender wanted to AA for whatever reason, doesn't matter how many cards you have open, if they close one, they close all! So, combining isnt gonna change either of those things.

If it makes sense for you, do it..Having one card with a nice CL I think also shows to other lenders that you can handle a massive CL like that as well.

Ill be doing the same probably in the next few months one more time with mine.

[Man-Of-Steel]

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@NRB525 wrote:

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@Man-Of-Steel wrote:

I was also considering an account combination for my Venture and Quicksilver.  Here are some details regarding both accounts.

Quicksilver - $9K CL, opened in Jan. 2014, APR 20.9 (original CL was $3K)

Venture - $21K CL, opened in April 2015, APR 12.9

At one point I was considering combining the Venture into the QS because the QS is older, but given the huge jump in APRs, that would probably be a silly move.  I contacted Capital One via chat earlier today and checked to see if I could PC the Venture into a QS.  They told me that I had the PC option available and they went ahead and made the change.  I love the fact that it was such a hassle free process.  I may still combine these accounts at some point in the future (if the option is still available), but for now I'd like to keep the accounts separate.  I'd like to keep my options open since both accounts are very easy to manage together.

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Did you happen to have any rewards points/miles remaining open on the Venture when it was PC to a QS? If so, did they just convert to cashback?

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Good question.  No, my miles balance was 0 at the time.  I kept a copy of the disclosure they sent me via chat and it looks like the miles would have been converted to cash back.  See below.

You will continue to earn rewards with every purchase and from today forward you will be earning at the new rate of 1.5% cash back per every dollar spent. Any existing rewards balance will carry over into this new program.

[Anonymous]

This may not apply to you since your combined limit would be massive and you might not want more than that, but one small disadvantage I see is that combining your 2 cards into 1 halves the number of SP CLIs you can get from the luv button. Put another way, right now you can achieve SP CLIs with the luv button at a rate of two per six months (1 for each card). After you combine, you will only achieve one SP CLI every six months. 

[Marcos8]

What's is the max trade line size that still gets factored into UTL? 

[JSS3]

I wondered if our internal score is lowered when they see us opening cards to combine and close before they get their annual fee? If this also gives way to lower approvals in the future?

[CreditJim]

I have what is now a Quicksilver at 5.9%.... as soon as my new $30k Venture hits 6 months I'm folding it into the Quicksilver for a $51k 5.9% wonder-card!

[Kidcat]

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@CreditJim wrote:

I have what is now a Quicksilver at 5.9%.... as soon as my new $30k Venture hits 6 months I'm folding it into the Quicksilver for a $51k 5.9% wonder-card!

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Now THAT is awsome!

[dstew201]

Any downsides?? NO!


Dew eeeet!!!