Capital One Account Combination?

Anonymous · ‎10-14-2017

Hey guys, I have two Cap 1 cards. One has a CL of 950 and the other is 750. The one with the 750 CL is paid in full, and I was considering closing it and combining it to my 950 CL to make a card with a $1,700 CL. Would this be good for my credit report? Or should I keep them separate for a while?

Anonymous · ‎10-14-2017

If it's your AZEO card it could let you post a higher balance for utilization purposes without a ding. Also might be more usable if you want to make large purchases.

What types of Cap1 cards are they? Also is the card you'd close your oldest card by a wide margin?

Anonymous · ‎10-14-2017

I’m sorry for my lack of knowledge, but what does AZEO mean? My card that I’d be closing is the most recent, it’s about 10 months old, the one I’d be combining it into is about 5 years old. The one that I’d combine it into currently has a balance of around 842 or so, so that’s pretty high util at the moment....the one I’d be closing is a Platinum mastercard, the one I’d be keeping is a Quicksilver one...(Also, it’s worth mentioning that my goal is to get a regular Quicksilver instead of the “One” someday lol)

Anonymous · ‎10-14-2017

@Anonymous wrote:
If it's your AZEO card it could let you post a higher balance for utilization purposes without a ding. Also might be more usable if you want to make large purchases.

What types of Cap1 cards are they? Also is the card you'd close your oldest card by a wide margin?

While I added AZEO to the abbreviations thread, you might want to explain it more or link to the definition. A large number of posters have no idea what it means and I know you use the term a lot which is very helpful but sometimes I think it causes confusion for some. Just a suggestion. Maybe create a macro with a HTML link to the definition.

Anonymous · ‎10-14-2017

Maybe we need to ask that the next Lithium forum software version include the hover feature for common terms!

AZEO Method

Works best with 3+ credit card accounts open and active
You need to find out when each credit card account updates the credit bureaus with the balance on it
Pay all of your cards to $0 when it reports to the credit bureaus, except for one card.
The one card that you don't pay to $0 needs to have a balance reported of at least $3 but no more than 8.9%. Be aware that if you pay it down to 8.9% but interest posts from a balance you carry, it will report over 9% which will not give you the most FICO points.
After that once small balance posts (I let $5-$50 report), pay it off so you avoid interest on the small balance.

The AZEO Method means "All Zero Except One" and it's the best and easiest way to gain "free" FICO points if you can afford to keep your utilization/balances near $0.

I switch my one card balance from $5 to $50 every other month so I can get an alert from my credit monitoring. If you always report the same balance every month because you pay down to that number, you may not get an alert.

kilroy8 · ‎10-14-2017

Down the road, I understand it is easier to PC a Platinum to Quicksilver, and unlikely for a Quicksilver One to PC straight Quicksilver. If your goal is a Quicksilver, I wouldn't close it.

Anonymous · ‎10-14-2017

@Anonymous wrote:
@Anonymous wrote:
If it's your AZEO card it could let you post a higher balance for utilization purposes without a ding. Also might be more usable if you want to make large purchases.

What types of Cap1 cards are they? Also is the card you'd close your oldest card by a wide margin?
While I added AZEO to the abbreviations thread, you might want to explain it more or link to the definition. A large number of posters have no idea what it means and I know you use the term a lot which is very helpful but sometimes I think it causes confusion for some. Just a suggestion. Maybe create a macro with a HTML link to the definition.

Instead of ignoring OP which is the last comment before yours and bypassing it to tell ABCD what you think he could add to his already useful and voluntary replies, you could have simply posted that macro with html yourself to answer OP's question that still remains unanswered after your intervention. Just my 2 cents.

AZEO = All Zero Except One (account)

List of abbreviations here

Anonymous · ‎10-14-2017

@Anonymous wrote:

Instead of ignoring OP which is the last comment before yours and bypassing it to tell ABCD what you think he could add to his already useful and voluntary replies, you could have simply posted that macro with html yourself to answer OP's question that still remains unanswered after your intervention. Just my 2 cents.

Not to get off topic, but I for one LIKE that Irish80 reminds me to explain it each time because his job isn't just to help people with guidance but also to guide the direction of the boards so people aren't lost and confused even more. So I like that he (she?) whips me everytime I forget.

Anonymous · ‎10-14-2017

Lmao you guys are a riot 😂 Nah but for real. What would my best choice be, keeping in mind that I’d like a regular Quicksilver at some point?

Anonymous · ‎10-14-2017

My opinion is to figure out your calendar for CLIs and base it on that. Capital One allows one CLI every 6 months (per card) so if you're only a month or two away from your next CLI request, wait. Do the CLI request to get your max CLs on your cards.

If you're 5 months away, account combination is probably smart to do now, but you won't get a manual CLI until 6 months after you combine.

Also, if you're not PCing yet, check the upgrade link monthly (or twice a month) to see if you can upgrade either account to QS, and then after upgrading, do your CLI requests on time and THEN PC.