topic Re: Cap One APR in Credit Cards

Cap One APR

Anonymous — Mon, 25 Apr 2016 21:15:57 GMT

Currently have a 5k limit on Cap One QS but really high APR. I have read they dont really reduce your APR, but like the idea that they soft pull for CLI. Should I close card completely or would I be able to get approved for venture or another QS with a lower APR and combine the two?

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 21:40:49 GMT

Welcome to the board. You can have as many as five Capital One cards. So don't close the one with the high APR if it is your oldest account because there is no guarantee that a new approval from them will guarantee a lower APR.

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 21:43:29 GMT

ive only had it open for 6 months now. also have chase freedom, boa travel, and recently approved for amex everday. wouldnt they tell you in prequal offers what your apr would be?

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 21:49:45 GMT

@Anonymous wrote:
ive only had it open for 6 months now. also have chase freedom, boa travel, and recently approved for amex everday. wouldnt they tell you in prequal offers what your apr would be?

They will tell you in the pre-equal. How old is your credit file and also which Cap One card do you have and what is the limit?

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 21:56:45 GMT

BOA Travel: 10k 2 yrs

Freedom 2.5k 6 months

Cap One QS 5k 6 months

Amex Everyday 1.2k *still waiting on card in mail*

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 21:59:13 GMT

@Anonymous wrote:
BOA Travel: 10k 2 yrs
Freedom 2.5k 6 months
Cap One QS 5k 6 months
Amex Everyday 1.2k *still waiting on card in mail*

Ok.. What is the current APR on the QS and what is CAP One now showing in the pre-equal in terms of APR for the new card you are eyeing / thinking of applying for?

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 22:09:29 GMT

no prequals it changes everyday it seems yesterday i had a QS and venture both for 18.24 apr right now i think im at 22.24

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 22:19:57 GMT

@Anonymous wrote:
no prequals it changes everyday it seems yesterday i had a QS and venture both for 18.24 apr right now i think im at 22.24

I don't understand the above sentence. No pre-equals? What changes everyday? The APR on your current account? Clarify if you can.

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 22:21:16 GMT

sorry no prequals as in currently i dont have an pre qualified offers, but just a couple days ago i had two for venture and venture one. the apr on those pre qualified offers were 18.24 and my apr right now is 22.24 on qs.

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 22:29:26 GMT

@Anonymous wrote:
sorry no prequals as in currently i dont have an pre qualified offers, but just a couple days ago i had two for venture and venture one. the apr on those pre qualified offers were 18.24 and my apr right now is 22.24 on qs.

Got it. So based on the information you have provided so far, here is what I'd do if I were in your shoes. Keep the QS open and if you are not carrying a balance then the APR should not be a big deal.

Wait until you start seeing a trend of solid pre-equals then apply if you can wait. Once you get the Venture with a decent APR, close the QS and move the limit to the new card.

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 22:34:30 GMT

how easy is it to move limit from one to the other? i assume qs would have to be paid off before i can combine limits

Re: Cap One APR

Anonymous — Mon, 25 Apr 2016 22:37:57 GMT

The account has to be at least 6 months old and must have a zero balance.