Capital One's Credit Steps Program

[randaljon]

January/2011 I was approved for a Capital One card $500 limit. I thought being part of the credit steps programs I would get an increased CL. Instead they sent me a 2nd account with $750 limit. Now I have 2 cards.

Will it hurt my credit to close the smaller card? I rather use the new card because I earn reward dollars.

Should I keep both open?

[pizzadude]

Weird. That's a new one ~ I have never heard of cap1 just sending a whole new card. And you didn't apply for a new account either right ?

What did your credit steps letter say ? Did it mention anything about a new card ??

[LIGHTNIN]

I would not close out that CC, not until you get a major CC under your belt or maybe a few major ones.

Contact Cap one, Ask whats sup?

[Anonymous]

Same exact things happened to me, got pre approved for one in 07, opened it and got cl of 500, 2 years later got another pre approved with cl of 750 came with rewards. I tried to close smaller one and transfer balance, but they didn't allow, so kept both and now their cl rose to 1k and 1250 respectively.

[stoopidmunkee]

Yea that's happened to me. I would keep it for a while until you can get a better card, at least that's my plan.

[GoodCredBen]

i have 2 of the step cards, my regular cap 1 plat, the cred was just bumped up

I havent gotten a bump on my card just yet... 

[samy2576]

Definitely keep it open. Multiple accounts with balances under 9 percent seems to be the way to go. It would also shorten your average account age, which would be bad.