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I have 3 Cap1 cards and I am thinking of getting rid of one or two of them. I do not want Cap1 to credit line decrease me for having too much limit on one card.
They all have about the same APR. Venture has a $59 annual fee. QS and VentureOne do not have an annual fee.
I don't really need the QS because I have Doublecash and Blispay but it is my oldest Cap1 card.
I know quite a few of you guys have multiple Cap1 cards, I would love some advice. Also do you think the Venture card is a higher level card then VentureOne or QuickSilver or are they all the same? I wonder if banks see the Venture card as the highest Cap1 card?
Venture and VentureOne are my only travel cards right now.
I have 2 Amex cards and I am going to merge down to one card. What do you guys think is a better card ED or BCE? Both have the same APR.
Both Cap1 and Amex will be my backup cards since I have better cards but I like to keep cards with Cap1/Amex just in case a better card comes out.
Or is it better to Sock Drawer the cards I do not use and let them get older? All my cards are/will be over a year old.
I am looking for positives or negatives to merging these cards.
Thank you for your time and opinions.
Personally I would merge them in the Quicksilver since it is your oldest card and it is not costing you a thing. I see no purpose in the Venture One and the since you have the Doublecash you dont need the Venture. Plus by merging them into the Quicksilver you have a card you can take with no foreign transaction fees.
Capital One has done right by me so I am a fan of thier products though I am churning my spending now with Chase earning UR points. The QS is certainly a great card, with no limits and very easy and straight forward.
@JamP wrote:I have 3 Cap1 cards and I am thinking of getting rid of one or two of them. I do not want Cap1 to credit line decrease me for having too much limit on one card.
They all have about the same APR. Venture has a $59 annual fee. QS and VentureOne do not have an annual fee.
I don't really need the QS because I have Doublecash and Blispay but it is my oldest Cap1 card.I know quite a few of you guys have multiple Cap1 cards, I would love some advice. Also do you think the Venture card is a higher level card then VentureOne or QuickSilver or are they all the same? I wonder if banks see the Venture card as the highest Cap1 card?
Venture and VentureOne are my only travel cards right now.
I have 2 Amex cards and I am going to merge down to one card. What do you guys think is a better card ED or BCE? Both have the same APR.
Both Cap1 and Amex will be my backup cards since I have better cards but I like to keep cards with Cap1/Amex just in case a better card comes out.
Or is it better to Sock Drawer the cards I do not use and let them get older? All my cards are/will be over a year old.
I am looking for positives or negatives to merging these cards.
Thank you for your time and opinions.
@JamP wrote:I have 3 Cap1 cards and I am thinking of getting rid of one or two of them. I do not want Cap1 to credit line decrease me for having too much limit on one card.
They all have about the same APR. Venture has a $59 annual fee. QS and VentureOne do not have an annual fee.
I don't really need the QS because I have Doublecash and Blispay but it is my oldest Cap1 card.I know quite a few of you guys have multiple Cap1 cards, I would love some advice. Also do you think the Venture card is a higher level card then VentureOne or QuickSilver or are they all the same? I wonder if banks see the Venture card as the highest Cap1 card?
Venture and VentureOne are my only travel cards right now.
I have 2 Amex cards and I am going to merge down to one card. What do you guys think is a better card ED or BCE? Both have the same APR.
Both Cap1 and Amex will be my backup cards since I have better cards but I like to keep cards with Cap1/Amex just in case a better card comes out.
Or is it better to Sock Drawer the cards I do not use and let them get older? All my cards are/will be over a year old.
I am looking for positives or negatives to merging these cards.
Thank you for your time and opinions.
If we were talking about any other lender, my answer would be a bit more nuanced, but since it's Capital One the answers are actually quite straight-forward.
I've never (not even once) heard or read of Capital One taking AA on someone because their credit lines were too high, or because they have too much credit. I'm not saying it can 'never' happen (my crystal ball was broken a few years back) but I'm saying it's not likely. As long as they get their money, you have little to worry about (they aren't Barclays or Chase).
As for what card is 'higher level'... that's completely subjective. When your credit is pulled, all a lender sees is "Capital One"... they don't know if you have a Venture, a Quicksilver, or a student card (except that maybe a student card would have a smaller credit line). Actually, the credit line, date opened, and balance information is all they see. So if you're personally better off with a Quicksilver than a Venture, that's what you need to stick with. (FWIW, I've always thought of them as being 'equal' when it comes to level, prestige, etc. but again that's just my opinion, and it's completely subjective).
If it were me (again, just my opinion) I would keep the older of my Capital One cards. If you're eligible to combine accounts that would be what I would do, and if there's a problem (for some reason you aren't able to combine) I would PC the Venture to a Quicksilver until I was eligible (Capital One is said to still be working on rolling out the feature to everybody). The Venture One has a slightly lower rewards rate than the Quicksilver, but it has no AF, so it's up to you if you want to combine it as well or just let it rest in the SD for a while. Under no condition would I keep the Venture - I would either PC it, or combine it; there's no reason for you to pay that AF when you already have two other 2% cards.
Finally, keep in mind that with Capital One, a 'travel' card is really just a cash-back card with restricted redemptions. There is honestly nothing 'travel' about them (again, outside of redemption restrictions) other than Capital One's marketing.
Hope this helps!
Thank you guys for replying.
I was thinking about it all wrong and that's why I love this board, straightened me out and got me on the right path.
Anyone have opinions on Amex ED and BCE?