CapitalOne $750 --> $1500 (pre-approved)

[isilon01]

I already have a CC from CapitalOne with a CL of $750 which was issued around this time last year.  Yesterday, I got a pre-approved letter from CapitalOne for a new $1500 platnum card.  I understand from reading various posts on this forum that CapitalOne would never ever increase my CL.  With that in mind, should I just close my current account and open a new one with a $1500 CL?  Or should I keep both?  Or just throw away the letter?  I currently have 3 CCs all as an authorized user, and 2 of my own (the CapOne card I mentioned earlier + 1 secured card).  My current avg FICO score is 670 and the overal UTL is less than 5%.  Which option would be best for me?  Thanks for your advise in advance!!

[shane82388]

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@isilon01 wrote:

I already have a CC from CapitalOne with a CL of $750 which was issued around this time last year.  Yesterday, I got a pre-approved letter from CapitalOne for a new $1500 platnum card.  I understand from reading various posts on this forum that CapitalOne would never ever increase my CL.  With that in mind, should I just close my current account and open a new one with a $1500 CL?  Or should I keep both?  Or just throw away the letter?  I currently have 3 CCs all as an authorized user, and 2 of my own (the CapOne card I mentioned earlier + 1 secured card).  My current avg FICO score is 670 and the overal UTL is less than 5%.  Which option would be best for me?  Thanks for your advise in advance!!

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Id personally not even bother with capital one until they start widely and consistantly giving Credit limit increases like EVERY OTHER CARD ISSUER out there...

Be glad you were able to get that $750 card to help you to where you are now, but dont close it and open another one immediately just to get a little bit more limit out of them...you will be hit with 3 inquiries just for an extra $750.

If you must apply for more credit, go for another (better card) which you will have a chance of being approved for.