Interesting development, re. recently-received Cap1 BuyPower WEMC card...

[galahad15]

I just experienced a  rather interesting development, regarding the Cap1 BuyPower WEMC card that I got in a the mail a few days ago.  Turns out, a day or so after I received my BuyPower card, in the mail this evening, I got a pre-qual mail invite for yet *another* Cap1 BuyPower card, this offer with a go-to APR of 22.9% V (the first BuyPower card I received had a go-to APR of 19.9% V).  I guess my question here is, since my earlier cold app and receiving of the 19.9% V BuyPower overlapped by a few days of getting the new 22.9% V mail pre-qual offer, do you think it might potentially be worth trying for a second bite of the apple, so to speak, and apping for the 2nd BuyPower pre-qual offer?  Or is the fact that I already received the 19.9% V BuyPower mean that Cap1 will likely automatically decline me, if I did app for a second BuyPower card?  A lil confusing, tbh...also not sure if "pre-qualified" necessarily translates into the same thing as "pre-approved" or not?  I would hate to hypothetically app for a 2nd BuyPower card, only to be declined b/c I already have one in possesion -- any thoughts or advice please?

[Anonymous]

Looking at your signature, why would you want another one? Are you planning on putting more than $5k on this card and are a diehard GM fan?

[galahad15]

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@Anonymous wrote:

Looking at your signature, why would you want another one? Are you planning on putting more than $5k on this card and are a diehard GM fan?

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Fair question, although I guess the answer may not be as simple or straightforward as I had ideally hoped.  The truth is, I could really use another 12-month 0% promotional APR card atm, since I am trying to finance some very important big-ticket items that I would like to pay off by the time all of the 0% promos expire.  I also already have 0% promo offers applied to my existing BoA, FNBO, Discover, and a few other existing cards.  The 0% promos could really potentially help me in saving a good chunk of interest charges, at which time once the promos expire, I could then BT them to my cards that are around 10% APR or below.  Plus, the AF-free WEMC status is indeed very tantalizing 

[galahad15]

bump?

[Anonymous]

Sorry, OP, I have no clue, but someone in the forum will have advice, I am sure.

[galahad15]

Trying to bump thread once again...any thoughts anyone might have would be deeply appreciated.

[Anonymous]

CAP 1 allows you to have 2 of the same card.  As long as you don't have more than 5 CAP1 cards, you should be fine.  But @Tato asked a very important question.  Can you get a better offer on any of your current cards instead of applying for another of the same card?

[Anonymous]

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@Anonymous wrote:

@Anonymous 1 allows you to have 2 of the same card.  As long as you don't have more than 5 CAP1 cards, you should be fine.  But @Tato asked a very important question.  Can you get a better offer on any of your current cards instead of applying for another of the same card?

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+1

[galahad15]

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@Anonymous wrote:

@Anonymous 1 allows you to have 2 of the same card.  As long as you don't have more than 5 CAP1 cards, you should be fine.  But @Tato asked a very important question.  Can you get a better offer on any of your current cards instead of applying for another of the same card?

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In response to the question above, yes I have an excellent 0% offer on BT until 6/2017 on my BoA Cash Rewards WMC and until 4/2017 on my BBR.  I also have several various 0% offers on my Discover More and FNBO Maximum Rewards VISA cards, and now the 0% promo on the current/existing BuyPower WEMC.  These are all existing cards, but I was also hoping to try to avoid too much util or exposure on any one single card, even while making use of the 0% promos, and so I thought I could potentially avoid overutilization on the existing cards.  Lastly, I have 0% promos that are winding down on my Citi DP's and Chase Freedom cards.

@Anonymous:  some of this was also referenced or hinted at by me in response to @Tato's question, in the 3rd post on the thread.

[Anonymous]

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@galahad15 wrote:

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@Anonymous wrote:

@Anonymous 1 allows you to have 2 of the same card.  As long as you don't have more than 5 CAP1 cards, you should be fine.  But @Tato asked a very important question.  Can you get a better offer on any of your current cards instead of applying for another of the same card?

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In response to the question above, yes I have an excellent 0% offer on BT until 6/2017 on my BoA Cash Rewards WMC and until 4/2017 on my BBR.  I also have several various 0% offers on my Discover More and FNBO Maximum Rewards VISA cards, and now the 0% promo on the current/existing BuyPower WEMC.  These are all existing cards, but I was also hoping to try to avoid too much util or exposure on any one single card, even while making use of the 0% promos, and so I thought I could potentially avoid overutilization on the existing cards.  Lastly, I have 0% promos that are winding down on my Citi DP's and Chase Freedom cards.

@Anonymous:  some of this was also referenced or hinted at by me in response to @Tato's question, in the 3rd post on the thread.

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I don't want to be intrusive but how much are you planning on spending that it can't be spread on other cards?  I don't think applying for another card is the smartest move here to be honest with you.

Your current limit on the buy power card is $5,000.  CAP 1 is known to be stingy when it comes to limit on that card.  So applying for a 2nd card with lower CL or if you are lucky another $5,000 CL won't make much of a difference.

Another thing you should consider is your AAoA should you get a new card.  So based on the amount, find a way to spread it on your old cards instead of getting another card.