Applying for a second Cap One

[Anonymous]

Hi guys 👋 I know when you apply for a second card with the same bank it is it's own new application. My question is when you do that does the bank also look at your other accounts with them and use that information in the approval/denial process? Does having a good standing account with them have any weight on their decision for a second card? TIA!! 

[raisemysc0re]

Absolutely...

[Anonymous]

Then they do consider it?

[Anonymous]

Indubitably 

[Anonymous]

Unless something drastic has changed, if your profile is still as listed below then its not worth three HPs applying for another Cap One card. At worst itll be a flat out denial, at best itll be yet another low limit, bucketed card that 99.9% of the time will not grow. 

Cap1 QS $400

Credit one $300

Kohls $300

EQ 619 TU 623 EX 621

You have three revolvers, thats good enough for gradual FICO progress but you need time. I don't see the logic in a 2nd Cap One at this point. Maybe look into a secured card that will eventually graduate. 

[Anonymous]

I'm almost positive my card is bucketed. My ultimate goal was to get another then eventually combine them.

[Anonymous]

@Anonymous Someone can correct me if I'm wrong but I'm almost certain I read Cap One stopped allowing this. But even if they did you would still likely end up with a card less than $1k when you can wait and apply for better cards down the road with decent SL. 

update: found it

https://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-Combining-Gone-Forever/td-p/6074119

[rostrow416]

I really think it effects borderline approvals more as well as starting limits.

Having some history with a lender is always beneficial.  But don't expect it to be the only thing to carry you to an approval.

[Anonymous]

I know aging takes time but have far is down the road?

[Anonymous]

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@Anonymous wrote:

I know aging takes time but have far is down the road?

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Hold on let me consult my crystal ball and reach out to a couple sorcerer acquaintances...

Seriously, there is no one size fits all answer for this question. Its entirely dependent on an individuals specific profile. For some it takes a few months to a year to see the type of improvement they want, for others it can take a few years. 

But I am pretty confident that indulging in credit seeking behavior, racking up inqs/potential denials and opening new accounts is not going to help your progress. Your last account was opened a month ago, right? I don't know what the standard on aging is around here so some more knowledgeable folks can answer that but personally I set a goal of letting the last account age to at least one year to show positive history before I even consider applying for more cards. There's not much you can do to rush progress but there are plenty of ways you can sabotage it and I think your on the sabotage track.