Hi everyone, I have 2 Capital One cards. A lovely Gold with a huge $300 limit and a classic card with $500 limit. Both cards will have reached the 6 month criteria for combining cards next Monday. I called today just to get a sense of what their standing would be on combining my cards. They told me that when you combine cards, they take whatever card you choose to close and combine half of that balance with he account you are going to keep open. That sounds like crap to me. What benefit is there in combining cards if they only allot half the balance. I wanted to keep the Gold card open but I would only have a $550 limit. Saar, help me out. I want to be prepared when I call next Monday. I want the full limit combined. Thanks to all who give advise, Mike G.
RE: Combining Cap 1 cards (Hel Although I believe the rep was telling BS, your credit rating won't change much with the combined limit set to either $700 or $850. You have to look at the bigger picture. To analyze your situation, that is, how soon you can get higher limits with creditors, you have to consider all the facts: (1) Are you a credit builder or re-builder, and how many months or positive credit history are reported in your CRA files. (2) What other cards (and limits) do you have. If you have none, Cap 1 retention knows they won't have to try very hard to keep you. (3) Did you get any Providian pre-approvals lately, and how much was the limit offered. The main problem here is that given the initial low limits, and the fact the reported limits ("high blanaces") are even lower, potential creditors see that you were only extended very limited amount of credit. Now a 10K limit is not neccessarily better than 5K; But when it comes to reported limits ranging in the area of $250-$350, this could present a problem. Let me know where you stand on (1)-(3) above. We'll take it from there. Saar
Here are the answers Yes, Capital one are the only cards I have. I have received Providian offers but kept throwing them away thinking they would be useless, didnt want too many cards. Actually, I threw the applications away because I was buying a house and didnt want any more inquiries. I am moved in now, so I'll keep an eye out for the next Providian offer. I use to get them monthly. I have a perfect history with Capital 1 on all 3 cards I have with them. I just bought a house but I am in the rebuilding phase of my credit. My main problem is my car payment. I was late on it several times because the due date was in conflict with my pay date, but I have straightened that out with Ford Credit. Hope this answers your questions. Michael C. Glass
RE: Here are the answers Mike G. wrote: ------------------------------- Yes, Capital one are the only cards I have. I have received Providian offers but kept throwing them away thinking they would be useless, didnt want too many cards. Actually, I threw the applications away because I was buying a house and didnt want any more inquiries. I am moved in now, so I'll keep an eye out for the next Providian offer. I use to get them monthly. I have a perfect history with Capital 1 on all 3 cards I have with them. I just bought a house but I am in the rebuilding phase of my credit. My main problem is my car payment. I was late on it several times because the due date was in conflict with my pay date, but I have straightened that out with Ford Credit. Hope this answers your questions. Michael C. Glass Q
RE: Here are the answers Question if you pay say 5 days every month past the due date CAN you be reported as late To the C R A ?
