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Established Member
mekikya
Posts: 26
Registered: ‎11-23-2012
0

CapitalOne question

I got approved for my first credit card ever, in July '12. CapitalOne Platinum Mastercard 300 credit limit, which recently got bumped to 500 without me asking. When I applied they said to not try to apply for another CapitalOne card within 45 days. Well, I waited 4 months (all my balances PIF) and applied for another CapitalOne card, which was denied immediately because they said I had applied too recently. which I hadn't applied for at least 120 days. Now I have a Discover More card, which is inifinitely better, but I would like a third before I start gardening.  I want to apply for a CapitalOne Cash Rewards card. the date of the last inquiry for CapitalOne was November 22nd. Is it too soon to try again? Did they deny me for another reason and just didnt say?


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Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
0

Re: CapitalOne question

IMO I wouldnt get a second Cap1 card. More than likely its going to be 3 HPs. Give AMEX at shot, one of their charge cards to get you in the door with them



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Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Established Member
BornSupercharged
Posts: 85
Registered: ‎02-08-2013
0

Re: CapitalOne question

Sorry but I very highly doubt you'd get approved for the Cap1 Cash Rewards card. 

 

Try for the Walmart Discover, if they cant approve for that they'll automatically check if you are approved for the Walmart store card. Either one will give you a monthly TU08 FICO score for FREE, so just having one is a big plus. And they increase credit limits pretty easily. 

 

Other than that, you could try for an AMEX Green charge card and cross your fingers that you get in :smileyhappy: It will build AMEX history plus set your Member Since date as 2013 so when you open a better card, like BCE, it will backdate to 2013 (only AMEX does backdating).

 

Thinking now, there's also the US Bank Harley Davidson Secured card which gets rewards, has no annual fee and would build some history with US Bank so you could get their Cash+ card down the road. Just some ideas.


Total CL $179k | Budget Management | FICO Scores (TU 693) (EX 718) (EQ 729) | EIDT Me+Spouse Plan
Contributor
firstladyd
Posts: 143
Registered: ‎05-23-2011
0

Re: CapitalOne question

+1 on the Walmart card.


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Established Member
mekikya
Posts: 26
Registered: ‎11-23-2012
0

Re: CapitalOne question

I really dislike the taste of a "secured card" which is basically only for people that have really bad items on their credit history, and no other options. I have no bad marks just a small file, because I choose early on in life, not to just get credit because people where shoving offers in my mailbox. I'd rather have someone pay me to use their card then pay them a few hundred dollars for the "privilege" Maybe the AMEX green would work, though I'd rather have a real credit card. If I have to wait a while to get another card thats fine, I really love Discover's More card, and just upgraded it to an IT card via their online chat feature, and their customer service is EXCELLENT. woot! for the 1% cash back with no ramp up time like on the More, and no inquiry to do it. I would love a Chase Freedom, but I think thats a bit out of my reach for a little while longer...


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Valued Contributor
navigatethis12
Posts: 1,954
Registered: ‎01-24-2012
0

Re: CapitalOne question

There was somone who got a Chase Freedom with eight months of history so you may have a chance with that.

 

Maybe six months is long enough for Capital One to open another card for you?

 

If you shop at Walmart there is nothing wrong with getting the card. If you don't another shop where you buy from would be a better choice in my opinion.

 

The American Express green card is worthless since you seem to be wanting cashback cards over points/miles for traveling. You would also have to pay the annual fee ($95) to be able to keep benefiting from it after the first year.

Valued Contributor
SnackTrader
Posts: 1,567
Registered: ‎09-15-2012
0

Re: CapitalOne question

Your other option is to Garden for 6 months and see where it gets you. 6 additional months with 2 credit cards paid on time would make you look much more desirable to any company for your third card. I would say at that point your chances would increase. 


In My Wallet: Amex BCP (12/12) $22.200, Cap1 Quicksilver (6/12) $14,000, Chase CSP (4/14) $12,000, Barclaycard Rewards (5/13) $10,500, Citi Forward (12/12) $9,600, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013
0

Re: CapitalOne question


mekikya wrote

I got approved for my first credit card ever, in July '12. CapitalOne Platinum Mastercard 300 credit limit, which recently got bumped to 500 without me asking. When I applied they said to not try to apply for another CapitalOne card within 45 days. Well, I waited 4 months (all my balances PIF) and applied for another CapitalOne card, which was denied immediately because they said I had applied too recently. which I hadn't applied for at least 120 days. Now I have a Discover More card, which is inifinitely better, but I would like a third before I start gardening.  I want to apply for a CapitalOne Cash Rewards card. the date of the last inquiry for CapitalOne was November 22nd. Is it too soon to try again? Did they deny me for another reason and just didnt say?


    I would log in to your capital one account and then use the online chat feature to ask them about getting another card through them. That or call and talk to a human being as opposed to just submitting an electronic application. That way you can find out of your application will be considered without risking a hard pull or a record of having applied and been denied again. This way you can get info from them on a more informal level saving you the situation where you formally apply and are denied. If you can get a human being on their end's advice you can find the info you need. I concur with others that a second capital one card with a small CL might not be the best next move for you. I went for the Walmart card with very bad credit and was approved. Others have stated the benefits of that strategy in this thread.. Good luck.

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