Cap 1 combining CL

[QuakerOatmeal]

I have a Quicksilver card with a 3500 CL, and a Quicksilver 1 card with a 1500 CL  (The QS1 has an AF). Today I combined the QS and QS1 so that I just have one QS card with no AF and a $5,000 CL.

I'm happy to be rid of the AF, although I'm a little anxious about how the account closing will effect my credit. 

Did I do the right thing? I hardly ever use either card, but since the reg QS has no AF I won't feel bad about sock drawering it now that I got rid of the QS1 card.

[Streetervillelady]

I believe you did.  CapOne looks to Transunion.  TU indicates 'account closed due to transfer'.  Your utilization will stay the same.

Congratulations!

[HeavenOhio]

The closed account is likely to remain on your report for years to come. That means that your account age stats would be unaffected for now. By the time the card drops, other accounts would have aged and would pick up the slack.

It's possible that you could see a small ding (like a point or two) that might come from a larger percentage of your cards reporting a positive balance.

You did the right thing getting in getting rid of the annual fee.

[Anonymous]

I would look to PC it to Savor One so you can get some use out of it instead of SD.

[Anonymous]

I did much the same thing about seven months ago.

I used the upgrade link somewhere on the forums after my cap one secured unsecured to a straight platinum, and they offered me a no AF qs, so i took the upgrade.

I then combined it with my existing QS1 and got a better interest rate (by a quarter percent) with no AF and the same 1.5 rewards structure.

Too bad im still stuck in toylimit land, but what can ya do.