Capital One - Credit Limit Consolidation (New Card)

T-G-C

Hi people,

Capital One’s soft checker has offered me a second Classic card at last - I will not know the credit limit until I apply fully.

I wanted to know beforehand, when I apply for the card and are accepted, as they guarantee on Quick Check, can I consolidate the new credit limit into my existing credit card through phone call or secure message?

In addition to this, does the credit limit consolidation take place immediately when you request it or does it take one month to take effect?

I have various offers from Capital One such as 6 month Balance Transfer 0% or Luma 3 month 0% but I am also offered the Classic which is what I have now, to consolidate, does it have to be the same card type from Capital One or can it be any?

Your advice from past experience would be great!

jonesMUFCforever

I think they will not amalgamate limits between two cards.
If you want a higher limit why not apply for it on the card you hold?

No card checker site is 100% accurate - it will depend on your credit file history.

T-G-C

jonesMUFCforever wrote: »

I think they will not amalgamate limits between two cards.
If you want a higher limit why not apply for it on the card you hold?

No card checker site is 100% accurate - it will depend on your credit file history.

Capital One themselves have 100% guaranteed the card, subject to a fraud check etc. which I won't fail. It wasn't through a checker site, although they reflect the same.

Another user said that consolidation through Capital One was possible, which is where the idea came from. I can't apply for a higher limit due to the card being less than 6 months old, so this was a good option to increase early.

john1002

You can consolidate and this thread although a bit long will tell you the process as you need to be quite specific to ensure it goes smoothly.

http://forums.moneysavingexpert.com/showthread.php?t=5520149

John

A4445

T-G-C wrote: »

Capital One themselves have 100% guaranteed the card, subject to a fraud check etc. which I won't fail. It wasn't through a checker site, although they reflect the same.

Another user said that consolidation through Capital One was possible, which is where the idea came from. I can't apply for a higher limit due to the card being less than 6 months old, so this was a good option to increase early.

I've had a few cards from them and when it's said 100% they have always approved the application. I've consolidated all the cards into 1 that I still have.

[Deleted User]

Yes they will.

It's better to do it via secure message so you have the process all in writing.

They will also send you a letter in the post

T-G-C

I have been accepted for the same Capital One 0% Purchases & Balance Transfer card that I was approved for in September, which would expire in February.

They provided me with the same credit limit and if I consolidate, I would lose the new 0% rate and revert to the 34% APR on the oldest card being merged with.

I didn't think card companies approve people for the same 0% card after they've already been given one, I suppose it was a hook type thing, but I am not complaining, it gives me an extra 4 months interest-free with them, only difference being it's on a new card but everything else is practically the same.

[Deleted User]

Which rate are you referring to - the 0% on purchases rate?

T-G-C

!!! wrote: »

Which rate are you referring to - the 0% on purchases rate?

Yes, the Quick Check offered me the standard Classic card with normal interest.

When I went through an eligibility checker outside of Capital One, it showed me a pre-approved card which is the same as I already have, with 0% on purchases for 4 months and 0% on balance transfers for 6 months.

My first card’s promotional rate runs out in February so it’ll be nice to jump straight back into 0% on my new card, I didn’t think they’d offer me the same card promotion twice but it seems they have.

I’ve been accepted for it and waiting for it to arrive now.

If I consolidate I’ll lose the 0% on the new card and have to use my first card’s reverted rate of 34% in February.

[Deleted User]

Have 2 separate cards for 4-6 months then if you want to make use of the promo rates, then consolidate after that