Capital One - Move credit line/balance to new card?

[credit2019]

Hi Everyone,

My credit journey is going awfully bad.  My score really doesn't go up, even though I make all of my payments on time and have no negatives except for one relatively old medical collection that they refuse to take off.  Even though I make low 6 figures, all of my credit limits (even with income verification) are always in the $XXX neghborhood.  In fact I just had Comenity lower my credit line without warning or explanation on an HSN card I had (I'm calling them today to close the account, as I don't deal with banks that do this type of thing).  So much for growing my credit limits.

Anyway, I was just approved for a Capital One Quicksilver.  However, the limit is so low that the card is useless ($300).  I have a Capital One Platinum with a $750 limit, which is also pretty much useless but slightly less so.  Does anyone know if I can call them and have them consolidate the two cards - move the $750 limit over to the Quicksilver and close the Platinum? At least I would have $1050 on the Quicksilver, which would still be very close to useless but at least would be something.  Maybe next time I apply for a card, they would at least match that limit instead of keeping me in the 3 figures club.

[Anonymous]

They used to do that.....

The agony of so many around here w/ multiples (not one of them)

and...stop applying for Crap1 cards unless you like hitting all 3 of your scores in the gut each time.

[CreditInspired]

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@credit2019 wrote:

Hi Everyone,

My credit journey is going awfully bad.  My score really doesn't go up, even though I make all of my payments on time and have no negatives except for one relatively old medical collection that they refuse to take off.  Even though I make low 6 figures, all of my credit limits (even with income verification) are always in the $XXX neghborhood.  In fact I just had Comenity lower my credit line without warning or explanation on an HSN card I had (I'm calling them today to close the account, as I don't deal with banks that do this type of thing).  So much for growing my credit limits.

Anyway, I was just approved for a Capital One Quicksilver.  However, the limit is so low that the card is useless ($300).  I have a Capital One Platinum with a $750 limit, which is also pretty much useless but slightly less so.  Does anyone know if I can call them and have them consolidate the two cards - move the $750 limit over to the Quicksilver and close the Platinum? At least I would have $1050 on the Quicksilver, which would still be very close to useless but at least would be something.  Maybe next time I apply for a card, they would at least match that limit instead of keeping me in the 3 figures club.

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Hi OP

Give the forum a chance to see what's going on and to also guide you in the right direction to get CCs with higher limits. So, if you don't mind, provide us with the following info.

AAOA & AoYA

CLs and UT on the cards you do have

Your 3 FICO scores

# of inquiries in the last 3, 6, 12 months

Any student loans, auto loan, etc.

You see, something is going on with your credit profile that lenders don't like, but you say you only have one negative. So first, we need to figure out what's going on. Go to www.annualcreditreport.com and get your 3 free credit reports. Go over them with a fine-tooth comb to ensure that everything is accurate. Believe it or not, there are things on people's CRs that they are not aware of and there may be inaccurate things that can be disputed.

Then, if you don't know your 3 FICO scores, go to www.creditchecktotal.com and pay $1 for a 7-day trial to see all three of your scores. Remember to cancel on or before the 7th day so you won't be charged an automatic monthly fee.

Then, come back here with your stats and we'll guide you from there.

And, honestly, these are the first steps in your credit journey.

GL2U

[credit2019]

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@Anonymous wrote:

They used to do that.....

The agony of so many around here w/ multiples (not one of them)

and...stop applying for Crap1 cards unless you like hitting all 3 of your scores in the gut each time.

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At this point it doesn't matter, my score is in the dumps and doesn't go up even with perfect payment history.  It only goes up slightly when I lower balances some, but I think my medical collection is killing me and I'm stuck with that for another 4 years.  So I'm basically screwed, and for the next 4 years the number inquiries etc just doesn't matter - my score is going to be low and I won't qualify for anything reasonable.  I might go apply for 100 cards.

[Anonymous]

I wouldn't say you're screwed but, if you think you are you will be.  

I went nuclear with a BK and yeah, scores stagnate in the 600's for a few years and then topped out at 740's until the BK dropped off.  I had plenty of credit during that time though even though it was an arduous road getting there.  

With some guidance I'm positive we can get you over the hump with some better limits.

[credit2019]

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@Anonymous wrote:

I wouldn't say you're screwed but, if you think you are you will be.  

I went nuclear with a BK and yeah, scores stagnate in the 600's for a few years and then topped out at 740's until the BK dropped off.  I had plenty of credit during that time though even though it was an arduous road getting there.  

With some guidance I'm positive we can get you over the hump with some better limits.

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I thought it would turn around, but it just seems to not ever change.  And now my approval limits are actually going down from the already low levels they started at last year around this time.  So a year of perfect payment history, usage, etc. has resulted in nothing other than a score drop of about 100 points from where it was.  I guess I'm just incredibly frustrated, especially with the recent credit line reduction from HSN.  I don't have a bankruptcy or any other negatives, other than the 1 collection - a medical one from 3 years ago.

Anyway my main question was whether anyone knows if they will combine limits over to the Quicksilver.

[Anonymous]

Once you hit purgatory it's a hard place to sit and wait things out.  The easiest way out of it though would getting added as an AU on an older card that's sparingly used.  IT would give you the bump you need to get your scores up to where you can snag some better limits.  The med collection only really matters on a mortgage CR as it's weighted more there than on Fico 8/9.  

[Anonymous]

From what I have read Cap. 1 is no longer combinding limits on cards. I only have 1 Cap. 1 card so I am not 100% positive. I will let others chime in.

[Caardvark]

OP,

To answer your question: No, Capital One no longer allows you to combine limits. This "feature" was removed a few months ago and may or may not return.

That said, I highly recommend you re-read CreditInspired's post.Excellent advice in it if you want to either:

• understand what's really hampering your scores (and resulting approvals/denials)
• fix the cause
• and possibly direct you to lenders who are better suited to your profile

[credit2019]

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@Caardvark wrote:

OP,

To answer your question: No, Capital One no longer allows you to combine limits. This "feature" was removed a few months ago and may or may not return.

That said, I highly recommend you re-read CreditInspired's post.Excellent advice in it if you want to either:

• understand what's really hampering your scores (and resulting approvals/denials)
• fix the cause
• and possibly direct you to lenders who are better suited to your profile

---

Thanks for the info.  I just called them and had them close the Quicksilver account, since I was just approved for it this morning and I'm not going to pay $40/yr for a $300 CL.  It would have been worth it for the rewards if I could have combined them, but with a $300 CL, I was going to earn $4.50/mo in rewards lol.