So many Capital One cards????

[awp317]

this is just a curiosity question no disrespect or judgement from me. But I noticed on quite a few signatures peoples having multiple capital one cards some times 5 or 6 even and some are even the same cards. IM genuinely curious what the point of that is? Wouldn't it make more sense to grow 1 or 2 different Cap one products? I would love to be educated as I just got my first capital one card back in july and am curious how they work and what the strategy is? I noticed quite a few have much higher limits than the rest of the cards on the profiles from other creditors. I'm interested in the venture card too but worried about applying so soon after getting the quicksilver (and not actually spending anything on it yet) 

[Vegas4Play]

In short the Venture card has a nice sign up bonus 40 K miles, and seems to give generous limits 10K plus usually.

[Sharingan]

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@awp317 wrote:

this is just a curiosity question no disrespect or judgement from me. But I noticed on quite a few signatures peoples having multiple capital one cards some times 5 or 6 even and some are even the same cards. IM genuinely curious what the point of that is? Wouldn't it make more sense to grow 1 or 2 different Cap one products? I would love to be educated as I just got my first capital one card back in july and am curious how they work and what the strategy is? I noticed quite a few have much higher limits than the rest of the cards on the profiles from other creditors. I'm interested in the venture card too but worried about applying so soon after getting the quicksilver (and not actually spending anything on it yet) 

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It's definitely something I have noticed on these boards for as long as I've been reading them; but I can't say that I have been entirely interested in knowing why grown adults do whatever it is they do, nor is it something I'd do myself. The number of inquiries to acquire a single Capital One card is quite prohibitive to me. Regardless, I presume for some members that Capital One will give them what other banks won't. For others, it's evident that they are growing several cards to merge them into one large limit or keeping the accounts open for history. I'm sure many consolidate Venture cards into a QS after the bonus and after the first year.

Lastly, I believe Capital One has recently implemented a 6 month wait period between approvals, likely in the best interest of the bank but also to protect applicants from themselves.

[tcbofade]

I can't speak for anyone but myself, but I have SIX capital one accounts, but only applied for two. 

A few years ago, Cap One got aquisition happy and bought out Household, Orchard, Sony, Direct Rewards, and others...  so while I've only applied for TWO capital one products, I have SIX.

Currently, most of them are open and empty, getting ready to combine and/or close. 

[Anonymous]

Several of us would like to combine cards and only have one Capital One card, but for some reason Capital One's messed up systems won't allow it. Frustrating.

[Anonymous]

^^^^ +1 this is exactly why I still have six. I want just two but I still can't combine.

[Gmood1]

I did have five. Combining the cards and the HPs from double apping is exactly what I did. Now I have one and those pulls don't mean much after 12 months.

[SunriseEarth]

There are various reasons why people might have multiples of the same Cap One product.   Sometimes, it's due to acquisition and other times, it has to do with sign-up bonuses and PCs.

I had a Household Bank rebuilder, which was acquired by Cap One when they bought the HSBC portfolio.   It's now a QS WMC.   I later applied for a Sony Card, which is now SDed, since I no longer use it for dining.   I then later applied for a V1, so I could get the 20K miles and the 12 month 0% APR.   I PCed that to a QS VS, since that's more in line with what I need.   I will combine that into my older QS WMC once the balance is paid and the system allows it.    I'm hoping Cap One eventually ends the Sony Card program, so I can PC it.  Or I'm hoping they allow cobranded cards to be combined in the future.   For now, it's a zero balance card.  

[SouthJamaica]

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@awp317 wrote:

this is just a curiosity question no disrespect or judgement from me. But I noticed on quite a few signatures peoples having multiple capital one cards some times 5 or 6 even and some are even the same cards. IM genuinely curious what the point of that is? Wouldn't it make more sense to grow 1 or 2 different Cap one products? I would love to be educated as I just got my first capital one card back in july and am curious how they work and what the strategy is? I noticed quite a few have much higher limits than the rest of the cards on the profiles from other creditors. I'm interested in the venture card too but worried about applying so soon after getting the quicksilver (and not actually spending anything on it yet) 

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Capital One recently implemented a new policy that you can't get a new Capital One account if you've gotten one during the preceding 6 months.

[Anonymous]

Well, I've heard that for their own cards, they only allow 2 max, though you can get more co-branded cards. Store cards have their own perks and uses, so that's probably accounting for most of what you're seeing.

Personally, CapOne is really good for rebuild (and horrible if you mess up, ha), so I have two cards, one secured and one not. The secured card I'm closing eventually, at least by the two-year mark, because it won't graduate or combine with anything. The other one is currently my highest limit, so I'm not closing that!