Combining Capital 1 accounts?

Anonymous · ‎11-02-2015

I've made several changes to my reports this month. I'm not sure if I should do this or not.

Changes made so far

Removed 4 accounts (AU accounts circa 2004/2005)
Paid down balance on one card from 45% UTI -> 0%
Added a new card (Amex, $1,000 limit)

I'd like to combine my Cap1 Platinum and Cap1 QS to save on annual fees and get rewards on all purchases. The Platinum is currently my oldest open card (03/2015) and the QS my second oldest (04/2015).

UTI on my QS will be at 15% as it stands now at statement cut. If I combine the accounts, I will have the following UTIs report in November/December

Comenity: 0%
AMEX: 0%
Cap1: 7.5%

Credit repair gurus...is this a good move or a really bad one in light of hoping to app for a mortgage next year?

Anonymous · ‎11-02-2015

Have you gotten your CLI's on the accounts? Pay the QS1 off completely, then roll it into the Platinum (if thats the card with no fees). Call and get the platinum upgraded to reward status. Then app for another Platinum card. Thats what I did.

Anonymous · ‎11-02-2015

@Anonymous wrote:
Have you gotten your CLI's on the accounts? Pay the QS1 off completely, then roll it into the Platinum (if thats the card with no fees). Call and get the platinum upgraded to reward status. Then app for another Platinum card. Thats what I did.

I've gotten CLIs on both accounts. They both started at $500, and 3 CLIs later are at $2,000.

The QS1 is the card that currently has the balance. I have a 0% APR until December, and I was taking advantage of that to get caught up on the interest on my SLs while they're still in forebearance.

Both cards have fees. The Platinum has a $19 fee and the QS1 has a $39 fee. I asked for an upgrade on the Platinum but they won't give it - maybe I'm only allowed one reward card? If that's the case, sounds like your plan of attack would be the best option.

Anonymous · ‎11-02-2015

You must have the Classic Platinum. If they won't upgrade it, roll it into the QS1 card, and app for the no fee platinum card. They should upgrade that one. I had two reward cards, a QS, and QS1 before i combined them. Both were originally platinum cards.