Cap1 Combination

[Anonymous]

I've since paid off my 3 Cap1 cards that I have and each of them have a $850 CL. I am wondering what you all think about me doing the account merger and turning it into one card? I know that of course it would have a decent sized spending limit, but just didn't know if it's better to have 3 cards open with them or turn it into one at the end of the day.

Cause I would assume having 3 cards showing good payment history from month to month is better than just 1 card showing that or would that be incorrect?

[HeavenOhio]

The cards that close will continue to show up on your reports, so their payment history will continue to benefit you. But you should still consider your account ages to see if anything will matter when they do eventually drop off. If one of them is your oldest account, you might want to keep it. But if all of your cards are in the same general age range right now, what you do probably won't matter much.

Another option would be to combine two of the three cards. It really depends on what works best for you.

[Anonymous]

Thanks for the input! I checked into it and the oldest one was started in March of 2013 and then the other 2 cards I got at the same time in May of 2015.

Guess I can just combine those 2 and leave the March 2013 one alone since it's older.

Think I might hold off for a few months and let it report that they are paid completely off and see if Cap1 will increase the limits before I combine them together.

[srloring13]

If its been at least 6 months since your last CLI, why not see if the accounts are eligible now.  If you do a combination, you won't be able to request a CLI for at least 6 months. 

[Anonymous]

I did a CLI request on all 3 of them back in March. They were all denied due to not making big enough monthly payments.

I figured that with letting them report as being paid in full and then requesting maybe late-June or early-July they may tell me yes and then I can combine them together.

[srloring13]

There is no harm in checking if you are eligible now.  Some have had some success requesting a CLI after the payment posted to their account.  I'm not sure when they do the next AR but maybe your chances will be better afterwards.  Hopefully someone else will chime in.

[Anonymous]

I tried again last night for all 3 and was denied but haven't gotten the online reason yet. Guess once I get that I will know if it's just the payment thing again or something else.

I'm going to do some recon with them and see if they would be willing to help me out.

[Anonymous]

UPDATE!!!

I went ahead and did card combination on all 3 accounts. I closed out the 2 most recently opened and put their limits on the oldest card.

Now I have just 1 with the limit of $2550. Don't really plan on using it much right now since I consolidated a lot of my credit card debt to just a couple of cards right now.

If I do use it, then it'll be a PIF each month. Then maybe after 3 or so months I can request another CLI and possibly get one with them at that time.

[rmduhon]

You'll have to wait 6 months after combining the cards for a CLI because combining resets the 6 month wait.

[Anonymous]

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@VelosterBEAR wrote:
UPDATE!!!

I went ahead and did card combination on all 3 accounts. I closed out the 2 most recently opened and put their limits on the oldest card.

Now I have just 1 with the limit of $2550. Don't really plan on using it much right now since I consolidated a lot of my credit card debt to just a couple of cards right now.

If I do use it, then it'll be a PIF each month. Then maybe after 3 or so months I can request another CLI and possibly get one with them at that time.

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I believe, though I may be mistaken, that Cap 1 counts account combination as a CLI, and you'll have to wait another six months following the combo date. 

That's why I'm waiting for my "steps" increase in a month or two before I combine my two accounts

EDIT to add rmduhon beat me to it! LOL