Combining Capital One Accounts

Discussion in 'Credit Talk' started by JP, Dec 10, 2000.

  1. JP

    JP Guest

    I'm curious here. Will Cap One actually combine the balances of 2 or more cards into one card? If so, does the credit limit also change to match the combined credit limits of the cards involved.

    I ask because this is a move most companies won't make because they lose the annual fee on the additional accounts.

    JP
     
  2. GEORGE

    GEORGE Well-Known Member

    RE: Combining Capital One Acco

    WHAT ANNUAL FEE???

    I had three credit card accounts with one credit card company...they kept one open, closed the other two. Then said you have one account with the credit line of all three in one. THEN HE SAID "THE CREDIT LINE IS TOO LOW...IN ABOUT ONE MINUTE IT WILL BE $5,000 MORE"!!!
     
  3. JP

    JP Guest

    RE: Combining Capital One Acco

    When I said annual fee, I meant for Cap One. Depending upon the accounts you have with Cap One, there may be a $29.00 Annual Fee associated with each account.
     
  4. GEORGE

    GEORGE Well-Known Member

    RE: Combining Capital One Acco

    SORRY, I don't do annual fee cards.
     
  5. JP

    JP Guest

    RE: Combining Capital One Acco

    Well I don't either, but since I saw in another post that Cap One was combining accounts, I was real curious about it, because again, from a business perspective they would be losing out on the deal.
     
  6. GEORGE

    GEORGE Well-Known Member

    RE: Combining Capital One Acco

    If you close the account with-out combining the accounts...they would lose the annual fee, right?
    So it is to their benefit to combine them even if it costs them an annual fee.
     
  7. Momof3

    Momof3 Well-Known Member

    RE: Combining Capital One Acco

    Not sure about Cap 1 JP, but Citibank is letting people combine silver and gold and combining both limits and I believe just one fee
     
  8. Doris K.

    Doris K. Well-Known Member

    RE: Combining Capital One Acco

    I saw it mentioned in another post regarding Capital One, and I had the same question as JP. I inferred from the post that you can combine the accounts if they have been open for six months.

    My daughter has two accounts with Capital One and two accounts with Orchard Bank. It would be great if she could combine these accounts into one each. She has too damned many credit cards.
     
  9. creditwork

    creditwork Well-Known Member

    RE: Combining Capital One Acco

    I love managing credit. I have 4 accounts with Chase, they don't charge me a fee. I have a Cap one account and they charge me no fee. I just closed a Cap 1 business account because their limit of $1500 did not warrant a $59 annual fee.
    Combining accounts is a matter of convenience for both the issuer and the holder. In most cases, there are no account fees involved. I would think this could be done.

    http://www.creditsense.com
     
  10. roni

    roni Well-Known Member

    RE: Combining Capital One Acco

    Capital one will combine accounts which have been opened for 6 months. However, they do not like to do this because like you said, they lose the annual fees. So when trying this you may have to insist. Hope this helps.

    roni
     
  11. roni

    roni Well-Known Member

    RE: Combining Capital One Acco

    What is up George. Most (or at least many of us)have a capital one account with a $29 annual fee. I think this just went over MY head.

    roni
     
  12. roni

    roni Well-Known Member

    RE: Combining Capital One Acco

    George that was kind of rude. The thread clearly says Capital one. Since you dont have one of those cards......WEll......Maybe this is not your topic of course?

    roni
     
  13. roni

    roni Well-Known Member

    Forget it.

    I just read this thread from top to this point and it has confused me. I wished I never answered this thread.
     
  14. Doris K.

    Doris K. Well-Known Member

    RE: Combining Capital One Acco

    I had my daughter call today and ask Capital One to combine her two accounts into one. She told them she was considering closing them but would prefer to combine them into one account. The rep told her she could do this as long as the accounts had been open for six months and they are both either Visa accounts or Mastercard accounts--not a combination. However, they began wheeling and dealing and made her some offers she couldn't refuse.

    Her oldest account with Cap One is a Visa Classic she opened in 11/99. She began with a $200 limit, and they just upped it to $300 after the account became a year old. Today, they raised her credit limit by an additional $700, making for a $1000 limit.

    Her second account is a Visa Gold which she opened in 4/00. She began with a $300 limit, and they recently raised it to $500. They offered either to raise the limit by an additional $1000 to $1500 or lower the interest rate to 15.9%. She chose the limit increase.

    The rep advised her to call back in April, when the gold card becomes a year old. At that time, they would combine the cards while waiving the second membership fee. She told her they would probably lower the interest rate and raise the credit limits, which could possibly be combined into a Visa Platinum.

    I listened in, and the rep my daughter spoke with was one smooth-talking woman! I'm glad she wasn't really selling anything because I might have piped in and bought whatever the hell it was!

    If all holds up in April, as the rep claims, the whole thing will become a really good deal. It looks as though Capital One does offer better deals with its Visa Gold than it does with its Classic cards.
     
  15. Sister Gir

    Sister Gir Guest

    RE: Combining Capital One Acco

    I agree w/you,Roni...sometimes things are better left unsaid(especially when it doesn't include you).

    Peace,
    Sister Girl
     

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