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Capital One - Product Change before Combining Accounts

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Member

Capital One - Product Change before Combining Accounts

Hi all,

First Post, I have a Cap 1 QS (5 years old) and a Cap 1 Savor (6 months old) that I want to combine. I would like to keep using the Savor card for the benefits (3% Dining and no AF) but don’t want to negatively impact my credit score by closing my second oldest card (I also have a Chase Freedom card that is 6 years old).

Would it be worth it to do a PC from the QS to the Savor (giving me two Savors briefly) and than combining the two into the older of the two credit lines? Or would this not be worth the hassle and I should just roll the older QS into the Savor? I know if I simply combined the QS into the Savor card the it will still stay on my credit report for 10 years but thinking longer term. Thanks!
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Super Contributor

Re: Capital One - Product Change before Combining Accounts

If you will get more use from a Savor card, call Capital One about doing the PC.
A PC of an aged card, when you already got a sign up bonus for the brand, is a good idea for keeping the older card open.

Also consider keeping the Savor open for a while. With no AF, there is no real penalty.

What is your list of cards? What limits are you at for each of the cards, CapOne and other banks?
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 2 of 5
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Member

Re: Capital One - Product Change before Combining Accounts

List of cards:
Chase Freedom- $13k CL
Capital One QS- $10k CL
Citibank DC- $11k CL
Capital One Savor- $10k CL

Is there an advantage to keeping the newest Savor card open when I can just combine it with the QS line and PC the QS line to a Savor for the rewards? Doing this lets me keep the Utilization and the closed account will remain on my credit report for 10 years anyways. The reason I have moved away from the QS is the higher rewards rate on the DC.
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Community Leader
Super Contributor

Re: Capital One - Product Change before Combining Accounts

I believe both cards have to be open a minimum 12 months before combining and the one you're combining from has to have a zero balance. You can pc the qs as long as there's an offer, but you have to call in since the savor isn't offered through the link or normal channel. But, as long as there is an option to pc, a quick phone call should do it. Don't forget to request your CLI on the qs before combining as the combination will count as CLI. 







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Valued Contributor

Re: Capital One - Product Change before Combining Accounts


@PJE900 wrote:
List of cards:
Chase Freedom- $13k CL
Capital One QS- $10k CL
Citibank DC- $11k CL
Capital One Savor- $10k CL

Is there an advantage to keeping the newest Savor card open when I can just combine it with the QS line and PC the QS line to a Savor for the rewards? Doing this lets me keep the Utilization and the closed account will remain on my credit report for 10 years anyways. The reason I have moved away from the QS is the higher rewards rate on the DC.

I'd keep the CapOne card with better terms regardless of age. You can always PC it to the product you want eventually, but not the terms. If the QS is one of those "bucketed" cards, I'd combine it into the Savor (if it has better terms). 

I also wanted to keep my older card: 7 yrs old vs 1 yr old. However, the older card was a "rebuilder" card that grew over the years from $500 to $8k, but was definitely in their sub-prime bucket with a very high APR and small CLIs. The 1 yr old Venture started with a $30k limit at the lowest APR and got a CLI to $33k. I kept that card and combined the old one into it for a $41k total CL. It's been PCed to Savor for a few months now..

Unfortunately, I don't use it as much anymore because I have better cards, but I always wish Cap One came out with a premium card. 

AMEX | BofA | Barclays | Cap One | Chase | Citi | Discover | GS | PenFed | SYNCB (PP MC, Lowe's, Amazon, PP Credit) | US Bank
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