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Capital One Allowing CL Reallocations Again?

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sto0pyd
Regular Contributor

Re: Capital One Allowing CL Reallocations Again?

This didn't work for me Smiley Sad My card may totally be bucketed, if that really is a thing. I have a Williams Sonoma card with a limit of $27,000 (Comenity gave out limits like water on their store cards) and my grandfathered Savor Card is stilling at $11,300. I was hoping to really transfer the limit from the Williams Sonoma, which used once a year to keep the card open. 

Message 31 of 98
UncleB
Credit Mentor

Re: Capital One Allowing CL Reallocations Again?


@sto0pyd wrote:

This didn't work for me Smiley Sad My card may totally be bucketed, if that really is a thing. I have a Williams Sonoma card with a limit of $27,000 (Comenity gave out limits like water on their store cards) and my grandfathered Savor Card is stilling at $11,300. I was hoping to really transfer the limit from the Williams Sonoma, which used once a year to keep the card open. 


It's doubtful that any of the co-branded cards will be eligible, unfortunately. Smiley Sad

Message 32 of 98
SUPERSQUID
Valued Contributor

Re: Capital One Allowing CL Reallocations Again?


@UncleB wrote:

I was poking around on Reddit and stumbled across this:  https://www.reddit.com/r/CreditCards/comments/156cpft/capital_one_seems_to_be_offering_transfer_of/ 

 

Sure enough, when I checked my account I see the option as well:

 

CapitalOne Transfer.png

 

Has anybody given this a try yet?

 

According to Reddit it's still glitchy for some, so I might wait a few days (assuming they don't withdraw the feature like before).  I have a never-used Quicksilver Visa that would be a fantastic donor to my Savor WEMC that was lowered to $1500 a few years ago.


Wow, cool. thanks Uncle B

{ BK7 DC 12/2019 } target 2100/ kohls Visa 7000/ discover IT cb 6500 / 2nd discover IT cb 6000/mercury 4100 / firestone 2800 /legacy 3000 /first savings bank cc 3000/ cap1 QS 5000/ cap 1 savor one 3100 /Bread rewards Amex 4k, Penfed PCR signature visa 10k/ penfed gold 7.5k NFCU >signature visa cash rewards 21700/bread cashback amex 8000

>/ nfcu platinum 15k, BABY NEEDS NEW SHOES !!!!!
closed-- reflex, applied bank, first digital, mission lane, ikea, fingerhut, big lots, valero gasoline, ollo, more to come
Rebuilding since September 2020
who i burned - chase, cap 1, TD bank, Sync, were the biggies
Income 40k
Total utilization around 20 pct depending on my current usage/needs
Ficos ,most are slightly above 700, the 9's slightly higher than the 8's

TCL - about 110k
Retired since 2017
Message 33 of 98
Jccflat
Established Contributor

Re: Capital One Allowing CL Reallocations Again?

are they HP whatsoever?

they  ask me to send bank statements in order for completing

the transfer 

Message 34 of 98
CreditCuriosity
Moderator Emeritus

Re: Capital One Allowing CL Reallocations Again?

Glad thy have it back fro you all.. Hopefully they don't do the hatchet job like they did on many of us back in the day when it was allowed then if you didn't spend a good portion of a CL they would cut you down.  Think I was 50k on a QS then chopped to 10k and just closed it after that.  Many people got hit while others didn't.  Just be mindful of that as Cap1 evaluate their CL's of said cards often.  Weird thing is has a William Sonoma Visa through cap1 that has a 40k CL likely could get higher and only do a 100-300 charge every 6 months or whatever and remains untouched.

08 Scores - TU: 839 - EXP:839 - EQ:838
Message 35 of 98
NoMoreE46
Community Leader
Senior Contributor

Re: Capital One Allowing CL Reallocations Again?

Bummer @Jccflat.

 

If you decide the effort is worth it and you want to proceed, I would call them to ask.   

(While you are on the line with them, can you also ask

what determines their requirements are for having to leave $### or $#,###  CL on the donor card?)  

 

This CL reallocation option has been renewed from like 2017 and we forum members 

have renewed geek-type  😊questions.

 

 

rocket_aimhigh.gif
  
Senior Contributor
 
‎22-07-2023 07:18 PM
Re: Capital One Allowing CL Reallocations Again?
@NoMoreE46 wrote:

So the minimum to leave on the donor/remaining card  may depend on the tier of the card. 

It showed that I had to leave at least $5,000 on my Quick Silver  (formerly a Venture X and a Venture.)

Interesting.  This all assumes you're just moving around limits between cards, though.  This sounds like they might be open to combining limits in the process of closing an account, as I've been able to do with lenders like Chase or NFCU recently.  I've been able to move 100% of my limits off a closed card under the right circumstances.  You'd probably have to call customer service to do so, but it stands to reason they would do it.  Would you be willing to make a phone call and inquire about options on that CL transfer, @NoMoreE46, so we'd have more data points about the possibilities?  

 

Message 36 of 98
md_rebuild
Regular Contributor

Re: Capital One Allowing CL Reallocations Again?

I just completed mine.  It was instant.  The screen popped up asking me to verify income, employment status, and mortgage amount.

 

I've been grumpy for a while b/c I could never get a decent CLI on my Cap 1 cards (QS, Savor, Venture).  I like taking just one card on vacation and using that so everything is not spread out, and the low limits I had $3K and $3.6 (QS - Savor) precluded me from using either of them.   But I just moved $3K from the QS to the Savor.   

 

Now, to go a step further, since Cap 1 likes heavy spend, it might be time for me to move some of my monthly spend back to the QS (since the limit has been reduced to $600) and see if a few months of heavy spend (2-3x the limit per month) can get me a CLI in 90 days.... 

BK7: Discharged Sept 2019
7/7/24:

Message 37 of 98
Jccflat
Established Contributor

Re: Capital One Allowing CL Reallocations Again?

what member can i call ?to find out if i do send the bank statement if they will do a HP?

Message 38 of 98
Zoostation1
Valued Contributor

Re: Capital One Allowing CL Reallocations Again?

This is interesting.  I see the option in mine, but I'm unsure if I want to move anything around.  I don't have high limits on my QS or S1 and my VX was a min approval.  Maybe I'd consider taking $1000 or $1500 from the QS and putting it to the SavorOne since it gets more usage.

Rebuild Started Nov 2021
June 2022 FICO 8:
June 2022 FICO 9:
Oct 2024 FICO 8:
Oct 2024 FICO 9:
Message 39 of 98
NoMoreE46
Community Leader
Senior Contributor

Re: Capital One Allowing CL Reallocations Again?

Do you happen to recall what the Minimum amount was required to be left on that QS donor card @md_rebuild ?

 

   

Message 40 of 98
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