Some good news for those with Cap One stuff!! I pfb'd Cap One about 3 weeks ago regarding CL and %'s on two credit cards. Since my two oldest accounts are both cap one cards, I asked for increases and rate deductions. I had two cards with limits of 500 and 600 and rates of 14.9 and 17.9. I received form letters in the mail referring to a so called "conversation" I had with a credit rep and that my interest rates were being lowered. I never did have a conversation with anyone, just the pfb letter. Anyway, when I checked online, they had raised my limits to 1200 on each card and lowered both interest rates to 12.9. Not too bad for 20 minutes of time to use PFB! Anyway, thanks everyone for all of the useful advice on this forum! gilmores
Congrats! PFB netted me a $1200 increase 2 weeks ago. Now you ought to combine them to eliminate one of the annual fees.
Faztcobra, My credit limit is same as yours...I want to combine for a 5k plat too. Do you know when is a good time to get it done? After an CLI, is there a waiting period? I want to combine the cards, but don't know how.
I have to wait a little longer. I have $4400 on one card and $300 on another. My $4400 is supposed to be going to $4700 though. As soon as that last $300 appears, I'm going to call and combine. As far as I know, once you have the limits, you can combine and upgrade. Only thing I've been told is that if it's a new card, they want you to wait 6 months before combing(so they can collect that annual fee is my best guess) And I think you should be able to call cust svc. I think the only debates are on whether or not they will pull hards and you have to apply for Plat, or you can change to Plat once you reach $5K in CL. I've seen people state both. I'll be sure to let you know when I go to do my conversion.
a question about combining. Would that hurt my scores if I combine. These accounts are my two oldest accounts. Does your tradeline then read as a new account? How does all of that work?? Thanks! gilmores
Not sure about affect on score. The tradeline of the card that is being combined into will remain open with it's prior history in tact. The other account will adventually listed as "closed by consumer".
the other problem you will have is that it will list the highest balance on the card you keep, not the combination of the high limit on both, so you will have to do the regular trick to have it show real new limit. I hope that made sense. Of course because Cap 1 never shows actual cl
