How Frequently Does Capital One Reduce Credit Limits?

[AndySoCal]

@Varsity_Lu  Here is a link to an article the verbiage says upto 10 years

https://www.transunion.com/blog/credit-advice/how-long-do-closed-accounts-stay-on-credit-report?atvy... 

[TrapLine]

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@AndySoCal wrote:

@Varsity_Lu  Here is a link to an article the verbiage says upto 10 years

https://www.transunion.com/blog/credit-advice/how-long-do-closed-accounts-stay-on-credit-report?atvy... 

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One financial that I have had credit products with back to at least the 1980's has never left their closed products reporting for me more than three years (First National Bank of Omaha or FNBO). Yes, the ten years is the usual guide and I know Capital One has allowed my closed card accounts report for up to fourteen years but the majority is around ten.

[NoMoreE46]

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@Varsity_Lu wrote:

I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.

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@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS.  A few DPs indicate that a min of $5,000 must remain on the QS.  I hope CapOne changes this.

[Varsity_Lu]

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@NoMoreE46 wrote:

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@Varsity_Lu wrote:

I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.

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@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS.  A few DPs indicate that a min of $5,000 must remain on the QS.  I hope CapOne changes this.

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I'm pretty sure it's $500, not $5,000.

[GZG]

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@Varsity_Lu wrote:

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@NoMoreE46 wrote:

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@Varsity_Lu wrote:

I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.

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@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS.  A few DPs indicate that a min of $5,000 must remain on the QS.  I hope CapOne changes this.

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I'm pretty sure it's $500, not $5,000.

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perhaps some og visa signature quicksilvers are limited to staying at $5k, wouldn't surprise me, but typically it is $500

[NoMoreE46]

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@GZG wrote:

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@Varsity_Lu wrote:

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@NoMoreE46 wrote:

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@Varsity_Lu wrote:

I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.

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@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS.  A few DPs indicate that a min of $5,000 must remain on the QS.  I hope CapOne changes this.

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I'm pretty sure it's $500, not $5,000.

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perhaps some og visa signature quicksilvers are limited to staying at $5k, wouldn't surprise me, but typically it is $500

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Yes some are $5000 while some are $500 min.  Mine is $5000.

[UncleB]

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@NoMoreE46 wrote:

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@GZG wrote:

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@Varsity_Lu wrote:

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@NoMoreE46 wrote:

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@Varsity_Lu wrote:

I think I'll move $10k over to Savor which would give me $20k on that card. I use it a lot, do the chances of them lowering that is low I think. That will leave $2k on a sock drawer Quickdilver card that I will keep alive for account age purposes. Maybe I'll close it in a few years once my younger cards age so it won't affect my AAoA as much.

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@Varsity_Lu ,

You may be limited to $7,000 on the reallo from the QS.  A few DPs indicate that a min of $5,000 must remain on the QS.  I hope CapOne changes this.

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I'm pretty sure it's $500, not $5,000.

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perhaps some og visa signature quicksilvers are limited to staying at $5k, wouldn't surprise me, but typically it is $500

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Yes some are $5000 while some are $500 min.  Mine is $5000.

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+1

Capital One won't let me transfer any of the credit line from my Quicksilver Visa with a CL of $5k, but with my OG Savor card they'll let me transfer away $6k of the $6500 credit line.  They are both 'bucket' cards and the Savor used to be an HSBC/Orchard Bank account so I would have assumed it would be more 'bucketed' than the Visa, but I guess not.

The QS Visa is useless for me, but it's old-ish (2015) and I'm hopeful I'll eventually be able to do something neat with it if/when the Capital One/Discover merger takes place. 

[Varsity_Lu]

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@UncleB wrote:

Capital One won't let me transfer any of the credit line from my Quicksilver Visa with a CL of $5k, but with my OG Savor card they'll let me transfer away $6k of the $6500 credit line.  They are both 'bucket' cards and the Savor used to be an HSBC/Orchard Bank account so I would have assumed it would be more 'bucketed' than the Visa, but I guess not.

The QS Visa is useless for me, but it's old-ish (2015) and I'm hopeful I'll eventually be able to do something neat with it if/when the Capital One/Discover merger takes place. 

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Ok, so now I'm rethinking this. Is there a chance my Quicksilver could become a Disco card? That just seems weird to me but there may be some value there. I think I will still move $10k over to Savor and leave $2k on it. 

[UncleB]

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@Varsity_Lu wrote:

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@UncleB wrote:

Capital One won't let me transfer any of the credit line from my Quicksilver Visa with a CL of $5k, but with my OG Savor card they'll let me transfer away $6k of the $6500 credit line.  They are both 'bucket' cards and the Savor used to be an HSBC/Orchard Bank account so I would have assumed it would be more 'bucketed' than the Visa, but I guess not.

The QS Visa is useless for me, but it's old-ish (2015) and I'm hopeful I'll eventually be able to do something neat with it if/when the Capital One/Discover merger takes place. 

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Ok, so now I'm rethinking this. Is there a chance my Quicksilver could become a Disco card? That just seems weird to me but there may be some value there. I think I will still move $10k over to Savor and leave $2k on it. 

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Nobody knows... all we can do is speculate here. ¯\_(ツ)_/¯

That said, Capital One in it's current iteration is well-known for their "FrankenCards" that some people have been able to obtain via PCs - that's why (very) occasionally you'll see someone with a Savor Visa card.  There are folks today who have a Savor card that started off as a Synchrony Walmart card (then CapOne Walmart card, then CapOne Savor) so it's not beyond the realm of possibilty that there might be an opportunity once the Discover merger takes place.

In my case the QS Visa is literally just taking up space but it's not hurting anything, either.  I have nothing to lose by just leaving it alone (and giving it a keep-alive charge every six months or so) and I might have something to gain if/when the merger goes through.  If the gamble doesn't pay off, I'll simply close it... no harm, no foul.

[CYBERSAM]

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@Varsity_Lu wrote:

@CYBERSAM 

Did you get an account review letter prior to you limit being cut?

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For me they sent a letter stating a review and demanding more usage to justify the CL. However at that time they would not allow me to convert to Savor, so I closed it.