OK, I Really Need Some Capital One Advice (Combining vs Upgrading)

[Anonymous]

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@Anonymouswrote:

Really? Why do they do that?

Will this Quicksilver Card that I have remain at $10,000 or will it get CLI's? 

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I suggest you read this thread:

http://ficoforums.myfico.com/t5/Credit-Cards/cap1-aa-they-don-t-fool-around-lol/td-p/5187523

@Anonymous common, though not universal, factor appears to be that CL's on combination have been inflated to a really high level, at least $30k to $35k. This generally seems to be combined with another factor which is that many users hit with CLD's or outright closures have not been using their Cap 1 cards, or have been using them only in very small charge amounts, for some time prior to the AA.  As @AverageJoesCredit pointed out in another thread on Cap 1 combinations this morning, if you contact Cap 1 regarding your account (as in calling them or messaging them), it makes you a "blip" on their radar, and account combos also go through UW's which necessarily causes them to take a look at your accounts and credit history manually, and that in turn means that anything which is out of order there is going to come to their notice. This isn't meant to scare you off - as I said, I have two cards that I'm intending to combine this summer - but do make sure all your credit ducks are in a row first.

[Anonymous]

Interesting...thanks for sharing!

[Anonymous]

@Joe8185, 

The option for me to combine accounts finally appeared in my app. However, it's giving me the option to combine my QS into my newly issued Venture Card. I was wondering in your experience if I should combine now or wait until the Venture's 1st billing cycle is completed and reported? I'll know the minimum amount due on 4/19 and my payment due date is 5/15. 

[HeavenOhio]

@Anonymous, I'd do the product change on the old card and keep it. Or after the PC, you could investigate combining the new card into the old card. However, you might find that the new card has better terms, such as World Elite status or a better APR. If that's the case, you'l likely want to keep them separate.

I wouldn't be concened about adverse action (AA) unless you don't use the card. AA has occurred on cards with a limit over $10,000 and monthly usage in the $100 or less range for a year. In those cases, limits have been reduced to $10,000.

@Anonymous, I don't think it makes much difference when you combine your cards. Balances and rewards from the doner card will be transferred, and the terms of your destination card will apply.

[Anonymous]

I ended up PC this card to the Capital One SAVOR card. It wasn't showing as an option, but I called to ask and it was no problem.

Same limit, same APR, just SAVOR with their rewards program.

[Anonymous]

Keep us posted on if you enjoy the Savor card. I was thinking about it when I got my Venture since I dine out more often than I travel. I wanted a travel card to start with though since I didn't have one and I can always get cash back with my other cards.

[Gmood1]

Yeah, don't sweat the consolidation too much. The one factor that continues to be left out is several of those that were AA'd weren't allowing balances from their other CCs to report.

I haven't made a payment over $100 to Capitol One since November of 2016. In fact, I've went several months without using the card since then. Now normally only $3 to $6 is auto charged on it. The limit is still there today. Bottom line, don't let people have you fearing something that may or may not happen with these CC companies. If they want to cut your limit, they'll cut it regardless of what you charge on it.