Multiple Capital One Accounts Into One?

[shane82388]

So I have a Capital One account and its my only credit card at the moment. It has  $500 limit and has had the same limit for a long time...granted, I've not really given them any reason to bump it up cuz ive carried a pretty high balance for a long time.

I've been improving my credit score and i've noticed ive started getting pre-qualified for unsecured cards again...not anything good, but getting approved for anything makes me feel like im making progress.

I tried the pre-qualify thing for Capital One and they said i was pre-qualified for 3 different cards.

*Capital One Classic Platinum

*Capital One No Hassle Cash Rewards

*Capital One Standard Platinum

I know i need more revolving accounts and I need to increase my overall credit limit. I was going to do this with a secured card but since im getting the O-K for an unsecured card i figure i would just do that...

My question here is if I open a second Capital One card, can I just combine that card into my old Capital One card in like 6 months, so I will only have a single Capital One card but with a larger limit, all the while still keeping my oldest credit card account open?

[lovely222]

I have a CapitalOne Platinum MasterCard with a limit of $750. I think it was a rebuilding card. I called a few months ago to ask for CLI when I was doing my first 6 month CLI increase-ask from a bunch of creditors. I was told by the rep that I was not eligible for a CLI on this card because in the terms they said that this was the most they would give me on this card. I then asked if I could combine a new account with this one if approved, but she told me that combining cards was not possible. I've read in these forums that it is, but haven't heard that in awhile. Good luck!

TU: 702 (12/10) | EQ: 699 (12/10)

Goal: 750+

[Anonymous]

Hi,

I called Cap1 yesterday and the rep said they don't combine cards
I have two credit cards by them, both initially started with $500 but jumped each to $750 in 4 months.

[score_building]

They no longer combine

[shane82388]

Thats annoying....kind of makes me not want to get two of the same banks cards...im kind of a fan of streamlining and consolidating just for organizations sake. It just seems silly to have two of the same thing from the same bank. But i guess i can understand why...FEES. They probably want both annual fees instead of one.

I wonder if since my original card doesn't have an annual fee (just a $5 mo. membership fee all of a sudden) and is sure to have a higher interest rate than any other card I would be getting from them (29.40%)...they would combine them...carrying over the monthly fee to the old card?

Also, do you guys think its a good idea regardless, to just get another card from them since they are pre-qualifying me for it at this point, regardless of if they will combine them or not, just to improve my credit score and my overall available credit to debt ratio?

[lovely222]

I still doubt that they will combine them. They can be pains with things like these. 

I am in favor of getting a new card to increase your util, but are you sure you want one with Capital One? I say shop around for the best card with the best terms before applying. We can help you more if you post your credit scores and current util and inquiries. 

[shane82388]

Well the reason I was thinking of going with Capital One again is because I was able to get pre-approved for an unsecured card with them...Up until recently i wasn't getting pre approved for anything but secured cards. Well them and Orchard bank, but the Capital One card terms seem much better...less fees etc. I dont know of other places to get pre approved for a better card...

*My credit Karma is 659...

*My equifax fako score is 591...

*Currently have a little shy if $400 on my one Capital One card with $500 limit.

*No Inquiries on my credit report at all.

so take that for what you will...Im assuming im in the low 600 range +/- 15 or so...basically right on the cusp of being approved for unsecured and secured cards.

[lovely222]

Based on your info, I think it makes sense to apply for the CapOne card, it can help you reach your credit improvement goals if approved. Please keep us posted!

[Anonymous]

I say pay that card down first before you apply. You are at 80% util right now at that's not good. Maybe getting the util down will boost yours scores up and you can be in a better position for a better unsecured card.

[shane82388]

I was thinking if i got this other card, transferring some of the balance off my first card to the new card to spread the balances out while at the same time increasing my overall credit limit.

Then maybe just pay that original balance down that would now be divided over two cards, and threaten to cancel the new card if they dont combine them...I'm sure 3-6 months of having the lower utilization and a higher overall limit would qualify me for some kind of better card, so the threat to cancel the 2nd Capital One card wouldn't be an empty threat really anyway.

Is it likely that at some point in the future Capital One will start allowing cards to be combined again if they dont budge?