Capital One account closure

[Bandit5160]

I got a letter saying that my Capital One Wal-Mart card would be transitioned into a Quicksilver card.  The thing is I already have a QS.   Since this Wal-Mart card has one if my lowest credit limits (2K), I decided just to go ahead and close the account.  I have plenty of other cards and I do not need another QS.  My current QS has a $6750 limit.  I also have a Savor with Capital One that has a 5K limit.  But now thta the card is closed I am wondering if I did the right thing.  I have over 200K in available credit so I won't miss this 2K card at all but I just hope that closing this one account won't have an adverse affect on my credit score.  It's so minor to me

but the credit bureau may disagree.  I think I may have made an error.

[MissLiz]

Capital One is still offering to move CL from card to another on a web browser (I can't find it on mobile app) so that could've been a possibility before closing. It counts as a CLI, so you'd have to wait to ask for another CLI. 

[NoMoreE46]

 It is only 1% of your TCL so I don't think it is a big deal.

However I would've kept it open with hopes of combining that limit with the Savor  or QS as @MissLiz  noted.

[Bandit5160]

I did inquire about moving the 2K available credit to my current QS card.  She said no.  I do not think I'm eligible for a CLI with Capital One.  

[NoMoreE46]

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@Bandit5160 wrote:

I did inquire about moving the 2K available credit to my current QS card.  She said no.  I do not think I'm eligible for a CLI with Capital One.  

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Right, Credit limit allocation was limited to the core cards.

So being a recently converted card from Walmart may be the reason why you don't have this option but that would be why to hold out for some time...

[zerofire]

I can imagine many people will start to second guess their wallet when the transfers start going in mass. I used to have a Quicksilver myself in the past and got so aggravated that I closed it. Now they are closing up the last of their decent cards and trying to get me back to the Quicksilver again soon. I think I will be looking at a PC to a Saver One as soon as the conversion happens or just straight up closing it all which would kill my relationship completely. Capital One does not have any good cards left once the Walmart MasterCard leaves.

[SouthJamaica]

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@Bandit5160 wrote:

I got a letter saying that my Capital One Wal-Mart card would be transitioned into a Quicksilver card.  The thing is I already have a QS.   Since this Wal-Mart card has one if my lowest credit limits (2K), I decided just to go ahead and close the account.  I have plenty of other cards and I do not need another QS.  My current QS has a $6750 limit.  I also have a Savor with Capital One that has a 5K limit.  But now thta the card is closed I am wondering if I did the right thing.  I have over 200K in available credit so I won't miss this 2K card at all but I just hope that closing this one account won't have an adverse affect on my credit score.  It's so minor to me

but the credit bureau may disagree.  I think I may have made an error.

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It's not going to affect your score. Don't worry about it.

[Snook_on_the_Line]

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@MissLiz wrote:

Capital One is still offering to move CL from card to another on a web browser (I can't find it on mobile app) so that could've been a possibility before closing. It counts as a CLI, so you'd have to wait to ask for another CLI. 

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You say it counts as a cli.       

what if you have had a cli in the last six months.      Would that prevent me from moving cl from one card to another? 

[sjt]

You can combine credit lines and/or do a product change.

[IsambardPrince]

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@NoMoreE46 wrote:

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@Bandit5160 wrote:

I did inquire about moving the 2K available credit to my current QS card.  She said no.  I do not think I'm eligible for a CLI with Capital One.  

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Right, Credit limit allocation was limited to the core cards.

So being a recently converted card from Walmart may be the reason why you don't have this option but that would be why to hold out for some time...

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"Freeze it. Sock drawer. See if time goes by and other options present themselves. If the lender closes it, who cares?"