Would an account cominination on my CapOne QSes be... - myFICO® Forums

AkiraTakamedo · ‎10-01-2017

I’ve just emerged from Chapter 7 over a year ago, and I was approved for a Quicksilver One. Six months later, I signed up for a Platinum. A year later I tried to get the QS1 upgraded to avoid the annual fee, to no avail. Strangely enough though, they offered to upgrade the Platinum to a Quicksilver.

So now I have a Quicksilver One and a Quicksilver, $4600 and $2700 limits respectively. The QS1 has an interest rate of 23%, and the QS at 25%. Since they won’t upgrade my QS1 I’ve thought about just doing a combination and just get one regular Quicksilver because it feels pointless having a QS1 and a QS. My only reservation is that the QS1 is six months older and has a slightly better (though they’re both obviously garbage) interest rate.

AkiraTakamedo · ‎10-01-2017

Oh, I forgot to mention that I also just did my manual six month check in for CLIs last month. The QS1 got a huge jump up +$3k to get to the $4600 it’s now at, and the QS just after it was changed from a Platinum got a modest boost +$500 to get to $2700.

HeavenOhio · ‎10-01-2017

Do you have other cards? If so, what are the ages (or opening dates) of your cards? That would help us to help you decide if combining at this time would be the best decision.

QS1s are much harder to upgrade than Platinums are. Have you been using the QS1 each and every month? I was able to upgrade my two QS1s after approximately twelve consecutive months of usage. Others here who've been able to upgrade have reported similar usage. Call in each month to see if offers are available.

The bottom line is that the QS1 isn't a keeper due to its annual fee. It should be product-changed, combined, or closed/replaced before it gets so old that you become reluctant to lose it.

AkiraTakamedo · ‎10-01-2017

Right now I only have a PenFed Cash Rewards with $2000 I used for a balance transfer, and a RedCard with a **bleep**ty $200 I’m trying to figure out how to increase.

I use the QS1 every single day almost, it’s my main card because it has the highest limit. I’ve had it for a year with very consistent usage. No dice, though.

LadyJEsq · ‎10-01-2017

Have you tried the upgrade link first? If you've used the QS1 as a DD for awhile now, I would imagine you should be able to upgrade soon if not now. Have you already paid the AF? If so, then there's no real rush, so why not wait until you can upgrade? I think given your CC count, it might be best to not combine for the time being.

**FICO 8 Scores EQ EX TU **

AkiraTakamedo · ‎10-01-2017

Upgrade link doesn’t seem to work, but I asked only about one or two months ago and they said no, but they could upgrade the Platinum to a QS so I did that. I did pay the fee and they said they couldn’t waive that either since I did it once already. So basically two QSes, two separate cash back amounts that can’t be combined, and one has this annoying fee that I can’t do anything about.

I don’t really want to have a crazy amount of cards since that’s how I got into trouble last time, but I wanted to see if I was crazy for wanting to combine into the card that has a slightly higher rate and six months newer.

Anonymous · ‎10-01-2017

@AkiraTakamedo wrote:
Upgrade link doesn’t seem to work, but I asked only about one or two months ago and they said no, but they could upgrade the Platinum to a QS so I did that. I did pay the fee and they said they couldn’t waive that either since I did it once already. So basically two QSes, two separate cash back amounts that can’t be combined, and one has this annoying fee that I can’t do anything about.

I don’t really want to have a crazy amount of cards since that’s how I got into trouble last time, but I wanted to see if I was crazy for wanting to combine into the card that has a slightly higher rate and six months newer.

I get that, but if these are your only 2 cards you should add just a few more. For ideal FICO scoring you need 3 cards, with only 1 reporting a small balance. Besides, it never hurts to have some diversity in the lender dept. Granted, Cap1 is probably least likely to get spooked but you never know when that could change. It is a good idea to have relationships established if they decide they don't like you and start cutting your limits or cancel your cards.

Once you have these new cards, yes if it were me I could combine the qs1 to the qs. As long as you are not carrying balances the 2% won't matter, and 6 months will not matter at all when the account drops off your report in 10 years.