Limit on # of Cap1 Cards?

[atarvuzdar]

Hi all,

I have a Cap1 Platinum rebuilder and a Cap1 No Hassle Rewards for fair credit. I had tried to PC the Platinum into another No Hassle Rewards a few weeks back and was shot down. I see the NHRC is no longer available and has been replaced by the Cash. In fact, I received a pre-approval for the Cash. Perfect, I thought--I'll apply for the Cash and close out the Platinum, then I'll have two rewards cards. I figured I wouldn't mind the triple HP since I'm "obviously" good enough for their rebuilder and fair credit cards based on past apps.

So I applied and immediately got a denial. Sullen, I waited for the HP's to show on my reports, but it's been almost a week and no HP's have shown up. So, it makes me wonder if they auto-denied me because I have 2 cards already? Or because I have the NHRC? I didn't get any information from the denial screen as to why I was denied. Anyone have any thoughts on this?

I'm considering calling and mentioning that I would close the Plat and apply for the Cash, but I'm not 100% certain the reason I was denied was due to # of cards, or the like.

[Anonymous]

I've heard of this limit before.  Have you received a letter with the reasons for denial?  You could try calling and asking about your application and if there is a 2 card limit.  I'm curious myself, as I am going to close my 2 CapOne cards sometime this year, but I may also apply for the Cash card.  I would like to know if I had to close first, or if I could apply first.

[Tommy5746]

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@atarvuzdar wrote:

Hi all,

I have a Cap1 Platinum rebuilder and a Cap1 No Hassle Rewards for fair credit. I had tried to PC the Platinum into another No Hassle Rewards a few weeks back and was shot down. I see the NHRC is no longer available and has been replaced by the Cash. In fact, I received a pre-approval for the Cash. Perfect, I thought--I'll apply for the Cash and close out the Platinum, then I'll have two rewards cards. I figured I wouldn't mind the triple HP since I'm "obviously" good enough for their rebuilder and fair credit cards based on past apps.

So I applied and immediately got a denial. Sullen, I waited for the HP's to show on my reports, but it's been almost a week and no HP's have shown up. So, it makes me wonder if they auto-denied me because I have 2 cards already? Or because I have the NHRC? I didn't get any information from the denial screen as to why I was denied. Anyone have any thoughts on this?

I'm considering calling and mentioning that I would close the Plat and apply for the Cash, but I'm not 100% certain the reason I was denied was due to # of cards, or the like.

---

You would wind up with two of the exact same card which Cap one doesnt allow you to have.. you can have one of every card they offer, but no more than one of that particular card.. So, you couldnt have two no hassle cards, only one. The no hassle has been replaced by the new cash back card... hence, if you have the no hassle card you couldnt have the new cash back card because it is the same card as no hassle only with a new name. Make sense?

[john398]

I have a Sony Visa card with capital one and 2 plat master cards with capital 1

[Juan123]

you can only have 2 capital one cards. co branded cards are not taken into account.

if you check the pre-approval page while having 2 cards it'll come back as nothing offered, but if you close one of your accounts, there will immediatly be an offer for you.

This is from experience and personal knowledge from working at capital one

[john398]

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@Juan123 wrote:

you can only have 2 capital one cards. co branded cards are not taken into account.

if you check the pre-approval page while having 2 cards it'll come back as nothing offered, but if you close one of your accounts, there will immediatly be an offer for you.

This is from experience and personal knowledge from working at capital one

---

Ok I just tried it having 2 capital one cards and 1 sony and I got this:

Congratulations! We think you'll like this pre-qualified card offer.
Capital One Platinum
Primary Benefit Get the credit you need. Plus, enjoy a $0 intro annual fee for the first year; $19 after that. Purchase APR 24.9% variable APR Transfer Information 24.9% variable APR; No transfer fee
Annual Fee $0 intro for the first year; $19 after that

You are also pre-qualified for:

Capital One® Cash

 
Primary Benefit
50% cash back bonus every year.  Earn 1% cash back on all purchases.
Purchase APR
0% Intro APR until November 2012; 19.8% variable APR after that
Transfer Information
19.8% variable APR; No transfer fee Annual Fee
$39

I am not going to pull the trigger though

[Juan123]

---

@john398 wrote:

---

@Juan123 wrote:

you can only have 2 capital one cards. co branded cards are not taken into account.

if you check the pre-approval page while having 2 cards it'll come back as nothing offered, but if you close one of your accounts, there will immediatly be an offer for you.

This is from experience and personal knowledge from working at capital one

---

Ok I just tried it having 2 capital one cards and 1 sony and I got this:

Congratulations! We think you'll like this pre-qualified card offer.
Capital One Platinum
Primary Benefit Get the credit you need. Plus, enjoy a $0 intro annual fee for the first year; $19 after that. Purchase APR 24.9% variable APR Transfer Information 24.9% variable APR; No transfer fee
Annual Fee $0 intro for the first year; $19 after that

You are also pre-qualified for:

Capital One® Cash

 
Primary Benefit
50% cash back bonus every year.  Earn 1% cash back on all purchases.
Purchase APR
0% Intro APR until November 2012; 19.8% variable APR after that
Transfer Information
19.8% variable APR; No transfer fee Annual Fee
$39

I am not going to pull the trigger though

---

thats the same offer everyone without a real offer will get. since the new average credit cash card was released they're giving everyone that offer.

Anyone with 2 capital one cards that are directly from capital one will be denied when trying to get a 3rd. unless its a business card.

[LS2982]

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@atarvuzdar wrote:

Hi all,

I have a Cap1 Platinum rebuilder and a Cap1 No Hassle Rewards for fair credit. I had tried to PC the Platinum into another No Hassle Rewards a few weeks back and was shot down. I see the NHRC is no longer available and has been replaced by the Cash. In fact, I received a pre-approval for the Cash. Perfect, I thought--I'll apply for the Cash and close out the Platinum, then I'll have two rewards cards. I figured I wouldn't mind the triple HP since I'm "obviously" good enough for their rebuilder and fair credit cards based on past apps.

So I applied and immediately got a denial. Sullen, I waited for the HP's to show on my reports, but it's been almost a week and no HP's have shown up. So, it makes me wonder if they auto-denied me because I have 2 cards already? Or because I have the NHRC? I didn't get any information from the denial screen as to why I was denied. Anyone have any thoughts on this?

I'm considering calling and mentioning that I would close the Plat and apply for the Cash, but I'm not 100% certain the reason I was denied was due to # of cards, or the like.

---

It's possible they did not pull your reports. Have you contacted them about the situation?

[atarvuzdar]

Thanks, everyone, for the responses.

I haven't called to inquire because, while I appreciate Cap1's business, their CSR's leave a lot to be desired (as I'm sure you all know!). I'll venture to call when I have the energy to deal with it.

[Gollum]

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@Juan123 wrote:

you can only have 2 capital one cards. co branded cards are not taken into account.

if you check the pre-approval page while having 2 cards it'll come back as nothing offered, but if you close one of your accounts, there will immediatly be an offer for you.

This is from experience and personal knowledge from working at capital one

---

If I google for

"capital one" multiple credit cards

the first hit is for a November 06, 2006 businessweek.com article titled

Cap One's Credit Trap

and subtitled

"By offering multiple credit cards, the lender helps land some subprime borrowers in a deep hole and boosts its earnings with fee income":

http://www.businessweek.com/magazine/content/06_45/b4008048.htm

I don't know if Capital One reports credit limits for NPSL credit cards like their Capital One Venture (Visa Signature) credit cards that they are currently trying to product change existing prime Capital One Visa Platinum credit card customers to.  I suspect Capital One only began reporting credit limits because credit reports became available to consumers in 2003:

http://www.wikipedia.org/wiki/Fair_and_Accurate_Credit_Transactions_Act

I couldn't find anything on Capital One's website that said Capital One customers can have only two Capital One credit cards.  Since you work/worked at Capital One, are you able to provide more insight?  If so, please provide a URL (or a way to find that URL... like google for whatever) to back up that insight.