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

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• From the comments, it seems like this thread and the links in the "Rules For Reallocating Your Credit Limit With Each Credit Card Issuer" article could use a quick update. @will

• No more "Services" tab and just called them and they don't reallocate anymore :( BOO!

• I can confirm as of today, I spoke with several reps and they all stated that CapOne doesnt allow reallocation of limits anymore. I was able to close the account online though.

• @will I know this is an old thread, but thought I would share that a month ago (Dec '18) I could still see the option to do this, however today it appears that the option has been removed, and searching for the option only brings up a 'close account' link that does not offer the combining of credit limits.

  • It's the same for me: was there in Dec and now gone in Jan. I was hoping to consolidate 2 cards too. Wonder if they are bringing it back?

    • I was just informed by the rep who answered the phone that CapitalOne no longer allows credit reallocation, was the rep mistaken or have they truly removed this ability?
      Anyone else getting same response?

• Can you reallocate only a portion and leave both cards open?

• I consolidated 2 Cap1 cards and closed them. Their CL was transferred to my primary Cap1 card. I used the account combination application on the online banking website. The balance had to be zero on all 3 accounts. I closed the cards, right after combining. There weren't any hard pulls on Experian. I will have to wait til CK updates here in a few days to check the other reports.

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

• 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.

• 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.....

• 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.