What to do with a dormant credit card?

PowerHandle

Hi, I've got a pair of credit cards with Capital One, both with low limits (£1250 & £500). The £500 card was paid off some time ago and the card chopped up. The other has a balance that will be cleared within the next few months. I'd like to keep the larger one as an emergency card, is there any value to either myself or my credit rating in keeping the £500 card going? 

Thanks.

cymruchris

If they are both Cap One cards- call them up - and say you want to combine limits and close the £500 card - they did something similar for me. The closed one then gets marked as settled - and the other shows as a credit limit increase.

RBYHS

I’d do that too. I’d call them up and ask them to consolidate the £500 one into the £1250. That’s what I did two months ago personally. 

PowerHandle

£1250 limit card is a straight Capital One, the other is a brand of Capital One (can't actually remember what though!). Both accessed through the Capital One phone app though.

I'll give them a ring tomorrow and see what they can do.

cymruchris

I had a Cap one regular card and a Luma card I think it was called powered by Cap one - they were happy to combine the limits and close down the Luma. (Saying that a few months later I closed the Cap one card as well - as they were keeping my limit low - although the card was managed well - paid in full etc etc. - and now they're pre-approving me on all their cards whenever I do a comparison search - I won't be going back though) 

PowerHandle

Update on this, phoned Capital One, combining the cards no problem. However as I'm due to make a payment tomorrow they advised to wait until the payment has cleared (Monday) before actioning the change which is fair enough. 

Thanks for the advice!