capital one: combining cards

[Anonymous]

I checked Cap One offers just now and noted that I have a pre-qualified offer for an unsecured Platinum. If I accept this offer and get the card, can I combine the Platinum (assuming that it has a zero balance as specified earlier in the thread) with my existing Quicksilver? A complicating factor might be that my Quicksilver was upgraded from an unsecured Platinum in June.

[Anonymous]

Yup and this is a common way for folks to grow to $30K CLs with Cap1.

Just remember max one new account every 6 months and account combine also delays CLI request for 6 months. So get all your CLI requests in before account combination.

[HeavenOhio]

Also, an account needs to be a few months old before it's eligible for combination… six months, I think. So don't sweat it if you can't combine right away.

[Anonymous]

OK, I think I got that. I figure if I apply for and get a new Platinum now, I'd have to wait until April to be able to combine it with my Quicksilver, plus which, I calculate my first eligibility for a CLI on the Quicksilver comes up in, I think, February; I believe I got my auto-CLI after the 6th statement cut. Therefore, I'd need to make sure I got the CLI before I combined the accounts (and make sure to keep a $0 balance on the newer card until the two were ready to combine).

[Anonymous]

Update, since it's been several months; I'm planning to pay off the existing balance on my QS MC (which was PC'ed from a Platinum in June of last year so is probably stuck in the "starter" bucket; I tried a CLI request yesterday but got the 2-3 day response, so I don't suppose I'm going to move it much beyond the current $3,500 limit anytime soon) and combine it with my new QS Visa Signature (obtained last month) to get the Visa up to $13.5k. So, I want to make sure of a couple of things first:

1) I need to use the rewards on the MC before combining because otherwise they may be lost at combination (at least that's what older posts stated, though this may have changed?)

2) I need to let the Visa age at least 6 months before it's eligible for account combination, so it'll probably be June/July before I can do the combination, and also I need to make sure that any auto-CLI on this card happens before the combination, so what I should do is SD the MC once it's paid down/paid off in order to keep a $0 balance on that card until I'm ready to combine the two cards, right?

[HeavenOhio]

You wouldn't need to sock-drawer the card now unless you wanted to. Zeroing it out a few days before you combine would be fine.

[Anonymous]

Does anyone know how combining cc accounts affect credit your credit report?  Do you get a ding for closing one or two accounts or is it a wash because you're not losing your total overall credit limit?  Thanks in advance!

[FireMedic1]

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@Anonymous wrote:

Does anyone know how combining cc accounts affect credit your credit report?  Do you get a ding for closing one or two accounts or is it a wash because you're not losing your total overall credit limit?  Thanks in advance!

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First as long as you dont drop below 3 cards for best scoring. The closed account will still report for 10 yrs. The card that accepts the combo will reflect the higher CL. Thats about it. Feel free to post questions. This thread is 2 yrs old. Good Luck. No question is too dumb to ask. Better to be safe than sorry. Everyone is here to help you.

[HeavenOhio]

Welcome, @Anonymous.

I definitely agree with not dropping below 3 accounts. Also, if the card you're considering closing is your oldest by a mile, I'd keep it open.

How many cards do you have right now? How old is your oldest card? And how old is the Capital One card you wish to close?

Without knowing about your profile, it's tough to say much about scoring implications. As a very general answer, I'd expect either no ding or a tiny ding.

[Anonymous]

My Quick Silver is my oldest account (2 years) capital one didn't want increase the credit line to much on it So i was told i should open a Venture one and combine them to the QS after 6 months and the Venture One will disappear from my credit report...

i got approved on the Venture one for 5k

now you that you telling me that it will appear as closed i'm questioning if i should combine it

i have 6 Credit cards overall