topic Re: Closed Cap1 Secured Card - How Long For New Account? in Credit Cards

Closed Cap1 Secured Card - How Long For New Account?

dallasareaguy — Tue, 17 May 2016 15:50:12 GMT

So I know that you can only have two of the lower tiered Capital One cards, so I closed my Platinum Secured card today. They are issuing me a $1800 refund for the secured portion I had. In the past, if I applied for a QS1, it came back saying I had too many accounts with Capital One. Does anyone know how long it takes for the account I closed today to actually close enough to allow me to apply for another QS1... my hope is to PC it to Venture over time.

Thanks!

Re: Closed Cap1 Secured Card - How Long For New Account?

Anonymous — Tue, 17 May 2016 16:00:41 GMT

Typically u can do it the next day after account closure

Re: Closed Cap1 Secured Card - How Long For New Account?

dallasareaguy — Tue, 17 May 2016 16:25:03 GMT

Thanks,

I started my QS1 with $300 and got it to $7500 in 1 1/2 years and PC'd to a World Mastercard. At the time I did that they offered me either World Master Card in QuickSilver or Venture variety...so my goal is to get approved for another QS1 and PC it 6 months down the road. I hope that strategy works, because I would like to earn both travel and cash on two different cards over time.

Re: Closed Cap1 Secured Card - How Long For New Account?

Anonymous — Tue, 17 May 2016 17:17:34 GMT

I would see if they have any Venture pre-approvals for you. The sign-up bonus on that card is really good, there's no bonus on the QS1. Cap1's definition of excellent isn't the same as other lenders. All of your steady, on-time payments make you considered excellent to them.

I wouldn't bother with another rebuilder, I'd go for their prime cards.