Capital one Buy Power card mailer

[Anonymous]

Just got a "pre-approved" offer in the mail. 
I have 2 capital one cards

The first one is a secured card with a $500 that I can't touch. I can't add more money to it (Thanks Cap1) and they will not allow me to graduate it to a different card. It was my intention to eventually close this card. HOWEVER it is also the card with the longest AOA. (By about 6 months) 

Do I app for this one, and close out the secured card? Do I app and keep all the cards?
Should I not bother. 

I'm intrigued by this card mostly because I would LOVE to own a GMC Yukon at some point and from what I see this card helps you rack up "points" or an amount towards your downpayment?

Should I just scrap it and see if Capital One has a better offer for me? 

[MrsCHX]

I won't comment on closing the one card...that's so personal. I closed one store card. It's a store I like but I didn't realize they'd all but left my area and their online shopping sucks. So having it was a waste. 

As far as the Buy Power card - it's a different Capital One product. It can come with Credit Steps (I was approved via mailer for $300 and 6 months later it went to $500) but otherwise doesn't function quite the same as the run-of-mill CapOne rebuilders (platinum and QS1)

[Anonymous]

---

@MrsCHX wrote:

I won't comment on closing the one card...that's so personal. I closed one store card. It's a store I like but I didn't realize they'd all but left my area and their online shopping sucks. So having it was a waste. 

As far as the Buy Power card - it's a different Capital One product. It can come with Credit Steps (I was approved via mailer for $300 and 6 months later it went to $500) but otherwise doesn't function quite the same as the run-of-mill CapOne rebuilders (platinum and QS1)

---

Well I already have a QS1 but I've been wanting to get another Cap 1 besides the stupid secured card that I can't do anything with. It will be stuck at a $500 limit forever -_- 

[CreditCuriosity]

Just a FYI... Buy Power credit cards usually get stuck with 300-500 CL's(although there are exceptions of people with good credit getting 5-15k limits).  I would personally hold off for other pure cashback card until your scores get up a bit more.  That way you aren't restricted to GM or whatever and you can use the CB from another say 1.5% card for whatever card you choose with no caps.  Others that have the card can pipe in alot more than myself.  

[tussking]

IMO Worst CC Cap One offers...It's not treated like other Cap One cards...Stay far away IMO.

[Anonymous]

It's a good card if you are really set on a gm in the future. 5 percent first 5k in year and 2 after that. I started with a 5k cl and put a ton of money through it for 7 months and I asked for a cli and they gave me 750 while Citi gave me 12k and others have given me more. I don't think capital one really cares about this product. Website sucks, no app, sketchy cs and fraud protection. They did finally get my purchases credited as I stayed up on them but should have caught it in the first place IMO. All said I'd rather use a different card. Some like it a lot, most don't.

[Anonymous]

Oh, only NEW vehicles qualify. I didn't even activate my replacement. Probably should and decide if I want to keep it. I have about a car payment or two in rewards. Just don't like my rewards being tied to a new gm product. Not a die-hard gm fan.

[Anonymous]

---

@Anonymous wrote:

Just got a "pre-approved" offer in the mail. 
I have 2 capital one cards

The first one is a secured card with a $500 that I can't touch. I can't add more money to it (Thanks Cap1) and they will not allow me to graduate it to a different card. It was my intention to eventually close this card. HOWEVER it is also the card with the longest AOA. (By about 6 months) 

Do I app for this one, and close out the secured card? Do I app and keep all the cards?
Should I not bother. 

I'm intrigued by this card mostly because I would LOVE to own a GMC Yukon at some point and from what I see this card helps you rack up "points" or an amount towards your downpayment?

Should I just scrap it and see if Capital One has a better offer for me? 

---

I read somewhere here on this forum that Cap One is now graduating some secured cards. Might be worth chatting or calling them to see if yours can potentially graduate

[Anonymous]

---

@Anonymous wrote:
It's a good card if you are really set on a gm in the future. 5 percent first 5k in year and 2 after that. I started with a 5k cl and put a ton of money through it for 7 months and I asked for a cli and they gave me 750 while Citi gave me 12k and others have given me more. I don't think capital one really cares about this product. Website sucks, no app, sketchy cs and fraud protection. They did finally get my purchases credited as I stayed up on them but should have caught it in the first place IMO. All said I'd rather use a different card. Some like it a lot, most don't.

---

I also hear that there is a cap on the amount of pts you can use towards the new vehicle, so it's not like you can bank points and walk in and  pay for a vehicle with just points.

I got the same mailer today (2nd time I got it).  First time, I thought about it, but I will NEVER buy a GM vehicle, I hear the card has low SLs, and it can't be converted or combined, so this would be less than useless to me.  Today's mailer went straight to the shredder.

[Anonymous]

Sounds like the general consensus is to stay away.  Thank you very much for all the input