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Super Contributor
Posts: 14,138
Registered: ‎01-04-2014
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Re: One APR 24.9%.... The other is 12.9%

[ Edited ]

I have a friend with a Capital One card she hasn't used in 5 years or better.  I talked her into putting gas and some groceries on it to show a little useage after all that time then go for a CLI. LoL

Last App-Jan 26* It's All In The Magic Of Your Own Destiny * FICO TU 769 EQ 723 EX 777
Valued Contributor
Posts: 1,823
Registered: ‎01-23-2012
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Re: One APR 24.9%.... The other is 12.9%

smakjets wrote:
Ok, I just was approved for Cap 1 Venture with 15K CL and 12.9% APR. My only other card is Cap 1 Platinum with 5K CL and 24.9% APR. That card still is in Credit Steps so the CL will rise at least $500 but that is beside the point. Obviously, I will stop using the high APR card and put it all on the lower one. I guess a balance transfer is in store, too!

My question is twofold: First, since the high APR card is only 4 months old, would calling for an APR reduction be a waste of time? Second, would putting the high APR in the sock drawer subject it to being closed by Cap 1 if I don't use it at all or sparingly?

Did you check the CapOne prequal site prior to applying for the Venture....just curious?

Valued Contributor
Posts: 1,914
Registered: ‎09-23-2013
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Re: One APR 24.9%.... The other is 12.9%

Ask for an APR reduction, I got one of my cards that started out as a HSBC > 20% APR card down to 13.9%. 

Regular Contributor
Posts: 177
Registered: ‎02-22-2015
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Re: One APR 24.9%.... The other is 12.9%

Joedtx, I did the pre-qual check on the Cap 1 website and it spat back Venture Rewards with 12.9% APR. About 3 weeks ago, it said the same BUT with 17.9% APR! Who knows what could have happened if I had waited even longer? Probably an even higher SL but I'm very happy with 15K.
EQ - 662
TU - 671
EX - 668

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