cancel
Showing results for 
Search instead for 
Did you mean: 

Apply for same Capital One card?

cal1
Member

Apply for same Capital One card?

I checked my prequalification offers from Capital One and one of them was for a card I already have: Quicksilver. I wasn't considering getting a second QS. Is it possble? Another thing is when I applied for credit increases on the card 2-3 months ago, they used to offer me a $100 increase from $1,000, but now they don't budge from $1,000.

Message 1 of 8
7 REPLIES 7
NRB525
Super Contributor

Re: Apply for same Capital One card?

Probably not a good idea. Prequal pages are marketing.

 

What other cards do you have? What are their ages?

Why did you not accept the offered $100 CLI?

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
Message 2 of 8
sarge12
Valued Contributor

Re: Apply for same Capital One card?


@cal1 wrote:

I checked my prequalification offers from Capital One and one of them was for a card I already have: Quicksilver. I wasn't considering getting a second QS. Is it possble? Another thing is when I applied for credit increases on the card 2-3 months ago, they used to offer me a $100 increase from $1,000, but now they don't budge from $1,000.


As far as getting a second quicksilver card, I don't see why not. You would not be likely to receive the SUB or 0% on the second card. A possible reason to do so is if you dedicate 1 card to charge tax deductible purchases to make it easier to compile that data come tax time. It can sometimes be due to qualifying for a lower interest rate or better rewards due to improvement to a credit profile, or the card having an improved reward structure in general on a given version of the card. I have not personally done so, and it would likely prompt the issuer to ask why you were applying for the same card. It might also prompt lowering the credit limit on the first one if they are not comfortable with the added exposure. In your case the lower limit leads me to believe that you have a thin file or some baddies, so I doubt you could. Also...and this is fairly important...Capital One does triple pulls on the credit report. That alone is good reason to choose another card issuer if you are trying to improve your scores.

TU fico08=842 05/20/21
EX fico08=830 06/04/21
EQ fico09=835 06/01/21
EX fico09=824 05/05/21
EQ fico bankcard08=856 05/25/21
TU Fico Bankcard 08=881 05/23/21
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 3 of 8
sarge12
Valued Contributor

Re: Apply for same Capital One card?

I also should have stated in my previous post, I am a firm believer in diversifying a credit card profile. I personally will not get more than 2 cards total from any 1 issuer, even if they are very different cards. Having too many cards with 1 issuer can cause issues with the issuer cancelling all the cards issued to you, which will tank your utilization if you have too much exposure. Many on these boards found out the hard way with Synchrony, and Comenity. Some here have had over 10 cards issued by Synchrony, and had them all closed by the issuer. If no 1 issuer represents over 10% of your total credit limits, the closures will not be too bad of a hit on a credit score. I also am a true believer to always PIF all credit cards. For the record, I have resisted all temptation to get any Synchrony or Comenity cards, even though the Walmart or Lowes cards might make sense if you frequent either on of them. The added rewards are for me just not been worth forming a relationship with an issuer that has as many unhappy people posting in the message boards. In fact I have not chosen to get any store cards, period. It is Visa, MC, Amex, or Discover cards only for me.

TU fico08=842 05/20/21
EX fico08=830 06/04/21
EQ fico09=835 06/01/21
EX fico09=824 05/05/21
EQ fico bankcard08=856 05/25/21
TU Fico Bankcard 08=881 05/23/21
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 4 of 8
cal1
Member

Re: Apply for same Capital One card?

As for my other cards, I have Wells Fargo Platinum of six years and Paypal Extras Mastercard of over two years. I didn't accept the CLI because I wanted a higher CLI, but I think I am bucketed on the Quicksilver. I don't have baddies and my score is over 780.

When I checked the preapproval, they said Venture, Venture One, and Savor were also prequalified.  I was thinking I could also get a fresh Quicksilver by either getting another card like Savor, cancelling QS and then doing PC before the annual fee hits or just cancelling QS and applying for a fresh QS after six months.

Message 5 of 8
Steve891
Senior Contributor

Re: Apply for same Capital One card?

With you score, I wouldn't apply for a 2nd QS. There are much better options out there, not limited to just Capital One.




Message 6 of 8
Saeren
Mega Contributor

Re: Apply for same Capital One card?

Capital One prequals are generally pretty solid as long as your Equifax (which they SP) is similar enough to your TU and EX scores. 

 

Since it shows Venture, you would likely be approved for a decent SL as long as your income matches. Venture starts at $5K so your Savor or QS would have a high probability of a $5K or higher SL. 

 

You can have a second QS, there are many who do. Before they got rid of account combinations, it was common to go for a second QS and combine the original QS that’s bucketed into the new one. 





Message 7 of 8
cal1
Member

Re: Apply for same Capital One card?

The reason they gave for denying CLI was "Capital One is evaluating account activity at assigned credit limits." I thought it was a strange reason because I spent an average of over $3500 for the past four cycles on a card with $1000 limit. The last two cycles I paid in full before the cycle ended. For the two cycles before that I left balances of under $100 which I paid soon after the statement was sent.

Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.