Posted by William Charles on August 4, 2015
Credit Cards

Published on August 4th, 2015 | by William Charles

20

You Can Now Consolidate/Reallocate Credit Limits With Capital One Online (And Close Cards)

Capital One now allows it’s cardholders to consolidate/reallocate credit limits between multiple cards within their online interface, in the past Capital One didn’t let it’s cardholders reallocate credit limits at all, so this is a massive improvement.

[Read: Rules For Reallocating Credit Limits With Different Credit Card Issuers]

How To Use The New Feature

  • Log into your account
  • Go to the Services tab
  • Click Request account combination
    • Simplify your wallet
    • Combine credit limits onto your preferred card
    • Close cards you don’t use

account combination

If you have no eligible cards (see requirements below) you’ll receive an error message.

account combination

Rules & Other Important Information

  • Unsure if this is a hard or soft pull, please share your experiences in the comments. Data points:
    • Soft pull: 1
    • Hard pull:
  • It’s supposed to take only five minutes for the account combination to occur
  • Cards must be in good standing
  • Cards must be open for at least six months
  • One card must have a $0 balance and no pending transactions
  • Card’s must be linked in your online banking profile

Final Thoughts

This is a significant improvement to what Capital One previously offered (nothing), Capital One did promise improvements when made two negative changes to redeeming rewards, so this is great firs step – hopefully they continue to make improvements. I actually think Capital One has the best system for credit reallocation and account closure out of all credit card issuers (American Express’ online system is also pretty good when it’s working). Hopefully this also puts pressure on other credit card issuers to improve their own reallocation and account closure systems.

I just wish Capital One wouldn’t do a hard pull on all three credit bureaus when you apply for a card, then they really would be much more competitive with Chase, Citi & American Express.

Hat tip to 



20 Responses to You Can Now Consolidate/Reallocate Credit Limits With Capital One Online (And Close Cards)

  1. JamaicanReefer says:

    Found this wording after opening another Capital One jewel (Venture Business 50 000 miles after 4.5k spent): Existing or previous Accountholders may not be eligible for this one-time bonus.

  2. shawn says:

    How the hell did you find this out so fast?

    I’ve been waiting and tracking this until they would allow it.

    Damn your good.

  3. Eddie says:

    Is it really wise to be closing accounts and changing the average age of your credit history? My oldest card (and 2 more) are with Capital One and I would need to know the advantages of doing that and closing my oldest card. That would make my score drop, would it not?

    • It’ll take 7 years for the account to fall off your report, I don’t think it’s worth closing unless you have an annual fee. I just thought it’s worth mentioning that it is possible, the credit re allocation is the big advantage.

    • HokiE36 says:

      Probably no advantage in closing a credit account with the longest history. I should have someone warning me a couple of years ago… BTW, if your card is a no-benefit card, you should be able to convert it to QuickSilver card (1.5% CB, no annual fee) using Cap1 website. That’ll make the card a bit desirable. Good luck

  4. Anthony Fantino says:

    This is a great feature. I had 3 Capital One Quicksilver One Cards that I recently signed up for and they all have a Annual Fee, combined them all together now just 1 annual fee which I should be able to get waived I hope!

    • krayzee says:

      If I may ask, how and why the heck did you end up signing up for 3 of the exact same credit cards from the same company? 🙂 And if I may also ask, how many total credit cards do you have?! A hundred?

      LOL 3 of the exact same cards that all had an annual fee? It just seems like a ridiculous thing to do…

  5. David says:

    I have a question. When consolidating credit cards does it matter which one has the zero balance. I have a platinum card which I want to close due to the annual fee and want to move my creditlimit to many ay quicksilver card. Both have a balance right now. Any advice would be greatly appreciated.

  6. David says:

    In my experience, consolidation and reallocation also requires cards be of the same type (personal/business) although it is not stated by Cap1.

  7. Karen Banks says:

    Does this work if one of the cards is a secured card and the other a quicksilver. I wasnt required to do a deposit on the secured card. They both have annual fees .

  8. WowItWorked says:

    Thank you for this info!

    I was able to combine my QuicksilverOne and VentureOne cards, to move all the credit onto VentureOne. I have older cards and the Quicksilver One was only about 11mos old. I got it for a 0%APR and 0% fee deal on balance transfers. I then paid that off on my own time, at no cost to me. But the card comes with a $40 annual fee, which I was soon approaching. Plus, the VentureOne is newer, and still has an active 0%APR on new purchases for the next 6 mos. I could certainly use the CLI on that to lower my current utilization rate while I use them for an interest free loan, and then it definitely helps to have extra room should I need an emergency card for any additional unexpected expenses, before I either pay this card off, or transfer the balance to another 0%APR/$0 fee transfer offer from another company when the rate is up 6 mos from now.

    I am really surprised – contrary to your guess here, they actually did not appear to pull my credit at all, soft or hard. There was never any mention of credit at all on the pages, and the only question was whether I had 2 cards that were eligible (meaning both at least 6 mos old, the one being closed with a 0 balance, both in good standing, linked on the same acct/user). All I had to do was select them from the drop down menu (they are my only Cap1 cards so that was easy), and check that I agreed to the terms – which never mentioned credit, just standard stuff about handling autopays, and the acct being permanently closed and reported to credit bureaus as such. Once I clicked submit it was done instantly, no waiting to see if I was “qualified” or checking a soft pull or anything like that. So I’m pretty sure it won’t affect my credit at all.

    I had already checked to see if either acct was available to receive a CLI BEFORE doing this, and was denied on both accts. The older acct already had a CLI that they offered me without my asking less than 6 mos ago. The newer acct was denied because I have too much debt on my cards overall from a soft pull… but that is not surprising to me, because as I said I am using them for an interest free loan, since cash is precious, so why in the world would I pay them off if I don’t have to and it’s not costing me anything? I just wanted to increase the limit, not to spend more, but to help keep the utilization percentage low, because it was close to 60%. Now with the combination, it’s at 33% – so that’s at least better.

    An important note that was included in the terms and conditions: “This card will be ineligible for a credit line increase for up to six months as a result of this combination, and any pending credit line increase requests will be cancelled. This includes any future increase from any conditional line increase programs that you may be enrolled in.”

    So just consider that first, if it is relevant to you. Since they didn’t ask me to pull credit, it would seem that the best way to handle this if you want a big limit, is to ask for soft pull CLIs on both accounts BEFORE you combine. Then you either get them or are denied, but at least you know you already have as much as you are going to get. Since I am not planning to pay off the card balance until at least the 6month mark when the 0%APR rate ends, I did not expect to get approved for a CLI on that card before the next 6 mos anyway, so no loss to me.

    I am giving all this detail because comments here seem to indicate that people have no idea why this reallocation option is useful. You do have to close the card to do it, which sucks. But in cases like mine, it is a perfect fit. Apparently Cap1 lets you reapply for such cards in the future anyway, after a period of time since you closed it. So if I ever needed the great balance transfer deal they offered again, maybe a year or two from now, I could apply again, and I would assume I would be approved, with a bigger starting credit line since my last acct was in good standing and paid in full, proving I could handle the credit. Otherwise, the Quicksilver One card was one of the lowest credit limits I have, and even combined the new VentureOne limit is still less than several other cards I have.

    I never even used my perfect credit for my benefit until 2 years ago, and I am surprised to find how many interest free loans these cards are willing to offer me, for very high amounts, for a year or even 2 full years! If you know how to play it right, you can keep moving the balance around and get a huge loan for no interest and no fee for 4 or more years! Dangerous game if you don’t know what you’re doing, and can’t afford to pay it off in an emergency, but still, I’m amazed it’s even an option. It has saved me a lot of money, built a little bit more of my credit and earned a lot of rewards in the meantime, and helped me handle a large amount of emergency medical bills when I was in a tight spot. I don’t really like using credit, but it’s nice to have a ton of it in an emergency.

  9. Benjie says:

    I tried to combine my Cap One accts and the above criteria didn’t apply to me. However, I was deemed ineligible. After a phone call to Cap One and a transfer to an upper division of customer service I was informed that since I received a credit line increase last week, that I had to ‘prove’ myself responsible for six month before I could combine my Cap One accts….lame…..my intent for months was to have one $10k credit card for travel, now I have to wait until April and HOPE there isn’t some other hidden policy that restricts me from combining…..

  10. Nick says:

    DP from June 2017: no HP when consolidating cards. The available balance on my older card hasn’t updated on the credit report yet, but I think it will in time.

  11. Mark says:

    Met all of the criteria but system said I was ineligible.

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