I have two; the QS1 MC is an old Orchard/HSBC account that was converted to Capital One, and is 8 years old. The QS Visa Sig. is fairly new, and I did a new app for it (I needed a larger credit line for utilization, and couldn't get an increase on the QS1).
One is certainly enough, and I'll likely combine mine in the spring if I can't get Cap One to do away with the AF on the QS1. The last few years, the best they've been able to do is waive half the fee, but it's still the old amount ($79) so waiving half just makes it so that mine is the same price as everybody else. Ironically, the QS1 MC is my card with the lowest APR, at 14.9%, so if they will get rid of the fee I really would like to hang on to it.
My 'plan B' is to wait until next Spring and app for the 'Platinum MC w/ no AF', which the pre-qual says I'm preapproved for at 15.9% (it has me for the Venture or another QS Visa at 17.9%). If I got the plat. MC at the lower APR, I could always have it converted later to a QS (and keep the low APR). Next year the last of my baddies drop off, so I might be able to get a rate even better than that (in which case, I'll most likely *certainly* get the new card, and roll the current ones into it).
There was a 'plan C' to app for a Venture for the higher credit limit and the sign-up bonus, but honestly I have enought exposure with Capital One and for my level of spending getting even more would be just silly (for me - I'm not judging others... LOL). I almost always PIF, so there's no need in getting a $20K credit line... the (almost) $10K combined I already have is plenty for me.
