@Anonymous wrote:
just to be clear, you're telling OP to not get a triple hard pull with cap1 for a big limit but to get potentially 3 on citi? lol. they usually (usually) double pull for their cards and give you a nice crap limit then you get another hard pull for a usable one. sound advice.
I am never telling anyone to do anything, its just advice, or an opinion, and as always YEMV/YMMV. I am no expert.
At least with other banks they can give bigger limits, send bt offers more often, and actually offer legit APR reductions...and also allow wiggle room to get an increase before a 6 month timer. I just feel as though capital one has its limitations. They are great with their rewards, they are easy and no hassle yes.... but they tend to box folks in, encouraging them to apply for multiple, even duplicate products when in all reality they could improve the terms of the current card. I dont like that the venture locks a person into redeeming only for travel (and yes their definition is more broad than most other banks but still). And to charge an AF on top of it.
My capital one quicksilver is sitting at a significantly lower limit, is basically locked into 25.24% APR, and that has my opinion biased. I also do not like that they always triple pull. I am ok in certain situations where a person could apply and get a venture and/or a quicksilver starting out. Or maybe its all they can get approved for, even a secured card. And hey if they want to get multiple bonuses then that is their perogative.
@kdm31091 wrote:
@Anonymous wrote:
There are TONS of easier ways to get big limits without succumbing to capital ones triple punch scheme. Look into a credit union, American Express, or Bank of America. Citi, maybe.
Request CLIs on all the cap1 cards u have now, and convert/combine them into one product. Close the others down that are low limit and/or have an annual fee.
What are your scores, inquiries, aaoa, and utilization?
The triple pull is not ideal, I agree, but realistically, it's also not that big of a deal. Many banks, including Chase and Citi, often double pull EX + EQ anyway, so really, one more pull on a lesser used bureau (TU) is not that big of a deal.
Not saying I'm a huge Capital One fan, far from it, but the triple pull is overhyped. If you aren't applying for cards super often, it's not going to be a big problem.
That said, I agree with the suggestion of consolidating OP's cards.
I do find it a bit funny you are so against a triple pull but are often encouraging people to apply for multiple cards, which would result in more pulls!
Based on the amount of inquiries I have, I am starting to realize they do not matter as much. My personal preference/view is... there is a difference between getting two capital one cards for 3 inquiries and getting 2 amex cards and 2 chase cards for 2 or 3 inquiries.
I view capital one as a last effort. They are known for sticking with a person through thick and thin, so there is that...good customer service, fast rewards (which I do use from time to time)... But in this situation where the person already has multiple cards, it just doesn't make sense. If they did have some negative things from their past and there was no other way, then by all means I would take advantage of cap1.
@Anonymous wrote:
and before saying "and ditch your AF cards" how about we learn why they have them and the usability they may or may not provide. keep in mind there aren't many "blanket" statements that can be good advice on this site.
This is true. It was a knee jerk reaction. Sometimes these cards help out a persons credit very much!
