Option B. However, keep in mind Cap1 triple pulls for apps, and also you can't combine accounts until they are both at least six months old with no pending charges.
I believe the one being closed does, yes. Do a search for the mega thread on account combination with cap1. Plenty of data points and good advice in there. 
@Anonymous wrote:Ok so I need some advice and history. I began my credit rebuild journey around Oct of last year.I had a Midland judgment on my report for many years which I finally settled and it was removed from my CR. Other than that the only other thing I had on my CR was a 23k car loan back in 2003 which was paid off (not on my CR any longer). So once the judgment was removed in all my scores shot up (no other baddies on my CR). I was added as a AU on a BOA CC that is 16 years old, CL 19,300. In the last six months also opened up a WF CC - CL 1500, Capone QS1 - CL 1500 (started out at 500), and Amex BCE - CL 2000. My credit scores are EXP-736, TU-750, EQ-726 as of 3-3-2016. As far as inquiries go EXP-6 (two are form the midland judgment attorney, one falls off next month, one falls off this time next year), TU-1, EQ-3.
This morning I contacted a capone csr via chat to ask for a QS1 pc to a QS and was told that no offer was available for a pc on my account yet. I thought I had a pretty good chance given my scores. It is bugging the heck out of me having a QS1 subprime card and want to change. Their pre qual page shows me as being pre qualified for the QS and the Venture. Given my credit profile (number of inquiries) should I:
A. Ride it out with the QS1 until it becomes eligible for a PC to a QS
B. Apply for a new QS card and roll the QS1 into the QS (will the account keep the QS1 open date?)
All opinions are appreciated. One more thing, I do plan on shopping for a mortgage towards the end of the year so not sure if too many inquiries are a good idea.
I would not be applying for anything new until after the mortgage is done. You don't want to blow your good scores by (a) adding inquiries and (b) lowering your average age of accounts
I would choose option B, but there are some caveats, as well.
The card you want to close will have to be at a zero balance (the other can have a balance), and the closed card will report as 'closed' on your credit reports. The history will remain for up to 10 years, but the account you keep will not 'inherit' the history or age of the closed account.
I tried to PC my QS1 back in December, and was told there was 'no offer' just to try again a few weeks later and there was an offer, so it can change at any time (I had repeatedly been told 'no' for literally years).
Having been through the mortgage process four separate times, I'll finish by saying that whatever you do, I wouldn't wait too much closer to the time of your mortgage application. If you're borderline (as it appears you might be, and as I was for one of mine) you'll need every 'edge' you can get... and they really like to see stability. 
@Anonymous wrote:You guys are right. I will just stick with the QS1 for now and hopefully it becomes eligible for a PC down the road, I'll just keep checking for the PC offer. I dont want to apply for anything new because of the mortgage that is coming up. Thanks for the advice everyone!
A W E S O ME!!! Best of luck on your mortgage.