Cap1 Advice...

[Silver12]

Hello all!

Need some advice on how to handle some Capital One cards.

I currently have two - a platium with a $750 limit (from credit steps years ago) and a QS1 with a $4,500 limit.

I was just approved for a regular QS with a $10,000 limit.

Three cards from Cap1 seem a bit much considering that two now have cash back rewards and one no rewards, and I was wondering what people's thoughts are on how to approach this.  Would Cap1 let me combine the limit from the QS1 into the new QS?  I really don't need two of those, but wasn't able to get it converted previously (and, yet, received a pre-approved offer for the regular QS a few days ago).

Would just flat out closing the QS1 be a bad thing if not?

The platimun is also one of my oldest trade lines, so I'm not sure if I should close that?

On another topic, since I just apped yesterday for the QS, I have read that Cap1 may only use one pull for multiple applications in a short time frame.  Is this true?  Would it be worth applying for the Venture as well?

Any advice appreciated, and thank you!

[Anonymous]

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@Silver12 wrote:

Hello all!

Need some advice on how to handle some Capital One cards.

I currently have two - a platium with a $750 limit (from credit steps years ago) and a QS1 with a $4,500 limit.

I was just approved for a regular QS with a $10,000 limit.

Three cards from Cap1 seem a bit much considering that two now have cash back rewards and one no rewards, and I was wondering what people's thoughts are on how to approach this.  Would Cap1 let me combine the limit from the QS1 into the new QS?  I really don't need two of those, but wasn't able to get it converted previously (and, yet, received a pre-approved offer for the regular QS a few days ago).

Would just flat out closing the QS1 be a bad thing if not?

The platimun is also one of my oldest trade lines, so I'm not sure if I should close that?

On another topic, since I just apped yesterday for the QS, I have read that Cap1 may only use one pull for multiple applications in a short time frame.  Is this true?  Would it be worth applying for the Venture as well?

Any advice appreciated, and thank you!

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Close the old ones. They will NOT combine.

[ojefferyo]

I would close the lower limit one and SD the other one

[Skye12329]

If you haven't already. Contact the EO to remove the AF on your qs1.

[Anonymous]

I got rid of my two cap1 cards  when I got their business card. They wouldnt combine or reallocate the lines but what they did do, after I got rid of the other cards I asked for a cli on the business card and they gave me a nice increase. The regular reps couldnt do it. I had to escalate the calls to people with more power in the company. It took me a while but it paid off in the end. 

They may have just gotten tired of me asking

[Anonymous]

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@Anonymous wrote:

I got rid of my two cap1 cards  when I got their business card. They wouldnt combine or reallocate the lines but what they did do, after I got rid of the other cards I asked for a cli on the business card and they gave me a nice increase. 

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CAP 1 has never combined limits... There is a rumor they may be starting to do so in the future.

[Anonymous]

Yeah theyve always seemed to be anti combine but I will say I like cap1 a lot these days. Much better than when I originally had them in the 90s. Back then I had a card that started at 300 and stayed at 300 5 years later. 

[Anonymous]

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@Anonymous wrote:

Yeah theyve always seemed to be anti combine but I will say I like cap1 a lot these days. Much better than when I originally had them in the 90s. Back then I had a card that started at 300 and stayed at 300 5 years later. 

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Agreed.  They are growing on me also...  I like the fact that they try to help when people reach out to their EO.  That sort of caring and response makes an impression on me personally.

[Silver12]

Thanks for all the input!

On a whim I decided to try the love button for my QS1, and instant CLI of $1,000.  So I think I might keep the QS1 and call to see if they'll upgrade it to the no-Fee MC version (or even PC to the Venture, as I do travel a bit).

And cancel the $750 card.

Thanks, again!

[kdm31091]

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@Silver12 wrote:

Hello all!

Need some advice on how to handle some Capital One cards.

I currently have two - a platium with a $750 limit (from credit steps years ago) and a QS1 with a $4,500 limit.

I was just approved for a regular QS with a $10,000 limit.

Three cards from Cap1 seem a bit much considering that two now have cash back rewards and one no rewards, and I was wondering what people's thoughts are on how to approach this.  Would Cap1 let me combine the limit from the QS1 into the new QS?  I really don't need two of those, but wasn't able to get it converted previously (and, yet, received a pre-approved offer for the regular QS a few days ago).

Would just flat out closing the QS1 be a bad thing if not?

The platimun is also one of my oldest trade lines, so I'm not sure if I should close that?

On another topic, since I just apped yesterday for the QS, I have read that Cap1 may only use one pull for multiple applications in a short time frame.  Is this true?  Would it be worth applying for the Venture as well?

Any advice appreciated, and thank you!

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Keep your new Quicksilver and close the QS1 and Platinum. There's no reason to keep them. Your utilization won't really change since you were just approved for the $10k which will more than overshadow the loss of the other two cards.

Even if you got the QS1 fee waived it is a redundant card to have along with QS because it's the exact same thing and there is no advantage to having two (it's not like the rewards are capped or anything).