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Capital One - Combine or Wait?

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Frequent Contributor

Capital One - Combine or Wait?

Have a Capital One QuickSilver WMC @ $10250.00 and Venture Visa Signature @ $16,000. QS will be eligible for a CLI on 12/31/16 and Venture 02/18/17. What I want to do is roll the Venture credit line into the Quicksilver. - Quicksilver is my oldest card (6.5 years) and has a better rate than the Venture, which I just opened in May. I've used all the miles on the Venture and really don't have use for the card. I know the clock resets for the CLI if I move the credit line over to QS. Pro's & Con's ???

 

Should I wait and try for a CLI on the Quicksilver or just not worry about it?

Jan 2016 FICO 8s EX 505 - EQ 526 - TU 495 *** May 2017 FICO 8s EX 696 - EQ 695 - TU 705 *** INQs - EX 10 - EQ 20 - TU 12 *** TCL $282,650
Barclay AA - $28k | Cap1 QS $26k | PenFed Plat $25k | NFCU Sig VS $24k | Chase CSP $20k | Chase Ritz $20k | Amex SPG $20k | BofA BBR $15k | NFCU LOC $15k | BofA CR $13.5k | Sync Lowe’s $12k | Citi AA $10.5k | Amex Delta Plat $10.4k | Marvel MC $8k | Citi Costco VS $7k | Sync Amazon $6.1k | Amex ED $2k | Amex BCP $1k | Amex PRG NSP / $25k Pay Over Time
Message 1 of 6
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Community Leader
Super Contributor

Re: Capital One - Combine or Wait?


@cashcorp1 wrote:

@Have a Capital One QuickSilver WMC @ $10250.00 and Venture Visa Signature @ $16,000. QS will be eligible for a CLI on 12/31/16 and Venture 02/18/17. What I want to do is roll the Venture credit line into the Quicksilver. - Quicksilver is my oldest card (6.5 years) and has a better rate than the Venture, which I just opened in May. I've used all the miles on the Venture and really don't have use for the card. I know the clock resets for the CLI if I move the credit line over to QS. Pro's & Con's ???

 

Should I wait and try for a CLI on the Quicksilver or just not worry about it?


I would combine while you still can. Just make sure the card you want to "combine and close", is  $0 bal/ and all rewards cashed in first. Youll still CLI in the future, and I had to wait one year after combining before mine. Youve already taken the hit on your reports, so closing now vs waiting another 6 months will make no difference. The closed acct will still remain positive on your reports for 10 yrs, and still factor in to your AAOA/AHOA.... 

 

Its nice to have one card with a nice high CL. Good luck Smiley Wink


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 2 of 6
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Established Contributor

Re: Capital One - Combine or Wait?

Have there been any changes to the rules on this?  1 year delay for a CLI instead of 6 months?

 

Also, there's still no hard pull right?  For sure?

Message 3 of 6
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Valued Contributor

Re: Capital One - Combine or Wait?


@cashcorp1 wrote:

@Have a Capital One QuickSilver WMC @ $10250.00 and Venture Visa Signature @ $16,000. QS will be eligible for a CLI on 12/31/16 and Venture 02/18/17. What I want to do is roll the Venture credit line into the Quicksilver. - Quicksilver is my oldest card (6.5 years) and has a better rate than the Venture, which I just opened in May. I've used all the miles on the Venture and really don't have use for the card. I know the clock resets for the CLI if I move the credit line over to QS. Pro's & Con's ???

 

Should I wait and try for a CLI on the Quicksilver or just not worry about it?


depends on what is important to you, if it were me I would combine first and cli after.  even if you lose the cli you have a single card with a ~$26K cl on it.  not to shabby in my book

Message 4 of 6
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Super Contributor

Re: Capital One - Combine or Wait?


@cashcorp1 wrote:

@Have a Capital One QuickSilver WMC @ $10250.00 and Venture Visa Signature @ $16,000. QS will be eligible for a CLI on 12/31/16 and Venture 02/18/17. What I want to do is roll the Venture credit line into the Quicksilver. - Quicksilver is my oldest card (6.5 years) and has a better rate than the Venture, which I just opened in May. I've used all the miles on the Venture and really don't have use for the card. I know the clock resets for the CLI if I move the credit line over to QS. Pro's & Con's ???

 

Should I wait and try for a CLI on the Quicksilver or just not worry about it?


That's the only real "con".

 

Also, do you want to have one less account? I had 5 cards which I consolidate into 2, but I think in a way it was more useful to have multiple accounts.

 

 


Total revolving limits 653000 (575000 reporting)

Message 5 of 6
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Frequent Contributor

Re: Capital One - Combine or Wait?

I'm pretty much in the same boat. Got a QS WMC ($7.25k, <10yrs old, 10.39 APR) and a Venture Sig Visa ($16k, <6mos old, 17.49 APR). I've used all my Venture miles and I'm eligible to roll my Venture into my QS on or around Jan 7th. I'll probably never use the perks, but should I own some type of Visa Signature card? Is it good to diversify and have both WMC and VS?

 

@cashcorp1, If the end result is merging them, best to do it while it's available. Those limits combined together will make one helluva good credit line with C1. Do it while the button is available unless you believe you'll get a good CLI with either one. C1 has pretty much stopped the CLI on my oldest card. I don't put enough spend through either one to even touch their current CLs. I'm at the end of the line lol!

[11 AMEX] 58.5k + NPSLs // [1 Cap One] 23.25k // [2 Discover] 15.9k // [2 Barclays] 10.15k // [3 Citi] 18.8k // [2 Chase] 24.5k // Amazon 6k
Starting FICO Scores: EQ 595, TU 625, EX 604 (01/14/15) w/ Total CL of $1.3k
Current FICO Scores: EQ 660, TU 672, EX 650 (09/20) w/ Total CLs of $169.1k
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