Should I consolidate or Downgrade Venture?

[Anonymous]

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@Shooting-For-800 wrote:

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@Anonymous wrote:

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@Shooting-For-800 wrote:

99% of my 0% offers are on my QS card if that matters to you even though my Venture card has lowest APR.

I would not combine cards (if you can) if you know you are not going to use it much.

GL!

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Honestly I havent gotten a 0% offer since I PCed my QS last year to the Savor. Maybe thats the reason? If so, I can go ahead and PC my Venture card to the QS now if that would potentially bring those offers back. I do have till June before the fee hits on the Venture but I just dont see myself using the card anymore.

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I do think that the 0% offers have to do with the rewards offered by the card (in my case anyway.)

Just look at the sign ups...  

     0% for QuickSilver and VentureOne and Savor

     but

     No 0% for Venture or Savor

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Interesting. I hope that is the case for me. It would come quite handy if I got one around October or so.

I did just went ahead and downgraded my Venture to a QS anyways. Granted I still had like 3 months until the fee hit but the card just wouldnt get any use between now and then.

[Anonymous]

If you think Capital One might do that to you, then no point in consolidating. As for downgrading, only do it if you think you would actually use the Quicksilver. But you could also downgrade to a Venture One.

Another option altogether might be to just cancel the Venture. Period. If you're not using the card and not gonna use whatever you PC it to, this would be a case where cancelling a card makes sense.

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US Bank Cash+ Visa Signature $5000 | Chase Freedom $1500 | JCPenney $1500 | Bank of America Cash Rewards $500 | Discover It Cash Back $3500 | American Express Blue Cash Preferred $6000 | Chase Freedom Unlimited $1500

[Gmood1]

If the CC has some age. Do whatever you are comfortable with. In my case, it was my oldest active account. So I consolidated and downgraded.
The card still has the consolidated limit more than two years later.

I have a small monthly charge ($4) that post to mine in order to keep it active.
It's set to auto pay. For me auto pilot. Lol
My limit is $49.5k and hasn't changed in nearly 3 years.

A closed card is of no use at all. An SD'd CC may still have value in the future. Sometimes you won't know that until the time comes when you're glad you kept it. I've experienced that on multiple occasions over the last few years.

[HeavenOhio]

Given that Capital One's most frequent AA is to reduce limits to 10k, I'd keep the cards separate (if the option to combine returns). If you were hit on both cards, you'd still have 20k of limit left vs. 10k.

[kdm31091]

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@Anonymous wrote:

If you think Capital One might do that to you, then no point in consolidating. As for downgrading, only do it if you think you would actually use the Quicksilver. But you could also downgrade to a Venture One.

Another option altogether might be to just cancel the Venture. Period. If you're not using the card and not gonna use whatever you PC it to, this would be a case where cancelling a card makes sense.

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US Bank Cash+ Visa Signature $5000 | Chase Freedom $1500 | JCPenney $1500 | Bank of America Cash Rewards $500 | Discover It Cash Back $3500 | American Express Blue Cash Preferred $6000 | Chase Freedom Unlimited $1500

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Agree here, if the account is going to be useless no matter what I would just close it.

[Anonymous]

The reason I don’t want to close it is because it’s my highest limit so I’m going to keep it now for utilization purposes. I think my total utilization is around 8% now but if I close it it’ll be above 10% probably. I have no issue making a small purchase or so every 3 months.

I plan to close it when I get all of my debt paid off which should happen by the end of this year.