Too Many Cap1 Cards?

[upinflagstaff]

I recently apped for another Cap1 card online and got the following:

Thank you for your recent request for a credit card issued by Capital One®. After reviewing your application and/or information obtained from consumer credit report(s), we have determined that we cannot grant your request for credit at this time.

The reason(s) for not approving your request are:

• Based on the application information for (name), there are too many Capital One accounts

We based our decision strictly on a review of application information and therefore no inquiry will be placed on your credit report.

If you feel you have additional information you wish to submit to us that might influence our decision, feel free to write to us at the address listed at the top of this letter.

I currently have 2 cards with Cap1. I guess that's enough

[creditreformer]

time btwn apps?

have you previously comboed cap 1 ccs?

have you previously had charged off cap 1 ccs?  i ask b/c i know hsbc limits you to 4 'active' ccs and chargeoffs count as 'active' ccs

cap 1 told me there is 'no limit' on the # of ccs, but i've not tested that theory

i have 2 cap 1s...i got the 2nd b/c i wanted a shot @ a 4 digit CL through credit steps.  my 1st cap 1 cc (4/08) started @ 300 and went to 1.1k.  it's the no hassle rewards- great and i've already earned nearly $50 in gift cards (which i resold for over face value lol love it).  the 2nd cap 1 is the no hassle CASH rewards.  it too started @ 300, but rose to 1.1k.

pre cap 1- NO 4 digit cls.

post cap 1- 2 4 digit cls.

i'm hoping my cap 1 cls inspire BA to beat them w/a CLI when my 99/500 unsecures in early 09.

btw, my cap 1 'preapproved' page shows me ALL their ccs as 'preapproved' now that i have the 2nd cap 1.  when i got the 1st cap 1, only 1 cc showed 'preapproved.'  after a few mos., the no hassle cash cc (which i wanted first but was afraid to apply for b/c it didn't show as preapproved) showed up on the preapprovals page.  now they all show up lol it's like cap 1 taunts me to try their 'no limit on # of ccs' theory.  so far, i've not tried it.

[treski]

IMHO, one Cap One card is too many. 

[upinflagstaff]

I have one from 10/2005 and one from 9/2006. I also got a card from Cap1 that was a pay off this old debt and keep the card open type account. This card was interest free on the original debt, but Cap1 transfered the account after a few months indicating that they were getting out of the old debt payoff business.

I did recently get a CLI on each card from Cap1.

I know there are a lot of people who don't care for Cap1 but any of my problems - late fees, etc. - were my own doing. And most of my lates didn't hit my CR - you have to be over 30 days before Cap1 will ding your report. And they don't do Universal Default. Cap1 was the first company to offer me a CC when my scores were mid-500s. I have gotten my APR reduced and eliminated the AFs on these two accounts. For me these are the best two cards that I hold. 

[niecey89]

Have you tried to combine your Cap1 cards? I just called the backdoor number last week and combined a $2500 and $500 card. Both were opened in 2006.

[Geordi]

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@treski wrote:

IMHO, one Cap One card is too many. 

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ROFLOL

How about (if one person that resides in the same neighborhood has a Captial One card) is one too many.

[upinflagstaff]

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@niecey89 wrote:
Have you tried to combine your Cap1 cards? I just called the backdoor number last week and combined a $2500 and $500 card. Both were opened in 2006.

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I have never tried to do this. My focus has been to eliminate AFs, reduce APRs and eventually to start working on the CL. My UTL is over 70% on one, but just over 50% on the other. I don't want to bump the one that will be under 50% after the next payment to a higher UTL. I was looking to get another card to help my overall UTL, but that doesn't seem to be happening right now.

[niecey89]

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@upinflagstaff wrote:

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@niecey89 wrote:
Have you tried to combine your Cap1 cards? I just called the backdoor number last week and combined a $2500 and $500 card. Both were opened in 2006.

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I have never tried to do this. My focus has been to eliminate AFs, reduce APRs and eventually to start working on the CL. My UTL is over 70% on one, but just over 50% on the other. I don't want to bump the one that will be under 50% after the next payment to a higher UTL. I was looking to get another card to help my overall UTL, but that doesn't seem to be happening right now.

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Both of my cards had high balances and one had an AF. They combined them to the one with the lowest APR. For me it was just to have one bill instead of 2 on different dates. Also my goal was to elimitate the number of CCs. With CCs doing CLD (i was hit on 2 of my store cards issed by GEMB), i thought this would help me out in the long run. By combining cards I now have one card with the highest limit. 

[upinflagstaff]

DW has done this kind of thing with one of her cards. They wouldn't reduce the APR on the card she had, but they would open a new card with a lower APR and move all but 500 of the CL to the new card.

[niecey89]

That is the first i every heard them do something like that