cancel
Showing results for 
Search instead for 
Did you mean: 

Too many Capital One accounts?

tag
alexgold9393
New Contributor

Too many Capital One accounts?

Ive been in the rebuilding stage for a while and finally have enough courage to apply for an unsecured card however i have some updates and questions. 

 

When I opened 2 secured accounts with capital one I was told that they would be periodically checked for graduation and possibly unlocked in the near future. I called cap one couple of weeks ago and the rep said that was not the case and they no longer graduate accounts, so yesterday I called a supervisor to clear things up and she said that before it was the case, they did check credit worthiness and graduate accounts but as of 3 months ago they no longer do so. They don't know if this is permanent or temporary. 

 

So I applied for the quicksilver card and received a denial saying I had too many capital one accounts. I have 4 capital one accounts in total, 2 secured card accounts, 1 spark business unsecured and a 360 checking account. 

 

Question 1: When credit card issuer provides a denial letter, do they include all the reasons you would be denied or just some of them? If I close down one of my secured accounts and get rejected again it would hurt my AAoA, so if anyone has more info on this I would appreciate it. 

 

 

Current Situation:

Capital One Secured 0/651

Capital One Secured 0/452

Capital One Spark 0/600

Citi Secured 0/200

Discover 0/2300

US Bank Secured 0/300

Indigo 0/300

Credit One 0/400

Amazon Store Card 0/1000

Walmart Store Card 0/200

Firestone 0/900

Home Depot Store Card 0/500

Total Utilization 0%, but changes up to 10% on a monthly basis

Last 5 accounts opened within the last 2 months, all other 1-3 years old. 

 

 

 


Open Accounts:


Message 1 of 10
9 REPLIES 9
Remedios
Credit Mentor

Re: Too many Capital One accounts?

Your denial has nothing to do with number of Capital One cards you have. They allow two starter cards (which you have), and believe 4 or five "regular" cards. In any case, you haven't exceeded that number. 

 

More than likely, it's related to the number of new accounts you have

5 accounts in two months is a lot. You need to head to the garden and spend minimum of six months not applying for anything, longer would be better. You're getting secured cards with toy limits and now the denials have started. That's a really strong indication you need to stop. 

Closing secured card and applying again will result in another denial.Up to you, though 

 

The AA letters will list reasons for denial.

 

 

Message 2 of 10
Anonymous
Not applicable

Re: Too many Capital One accounts?

I am guessing you tried to apply for the QuicksilverOne and received that reasoning of too many Capital One accounts. The QS1 is a subprime account and you already have a max of 2 of those.

 

I would head to the garden for 6-12 months and let your accounts age. Then start applying for prime card and get rid of your secured cards that doesn't graduate. 

Message 3 of 10
Shooting-For-800
Senior Contributor

Re: Too many Capital One accounts?


@Anonymous wrote:

I am guessing you tried to apply for the QuicksilverOne and received that reasoning of too many Capital One accounts. The QS1 is a subprime account and you already have a max of 2 of those.

 

I would head to the garden for 6-12 months and let your accounts age. Then start applying for prime card and get rid of your secured cards that doesn't graduate. 


^ This.

 

I had 5 Cap One cards at one time and have 3 now.  

 

Any prequals?

Cap One, Merrick, Discover, Amex?

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 4 of 10
Remedios
Credit Mentor

Re: Too many Capital One accounts?

Five accounts in two months, last thing they need to do is check prequals unless approvals for $50.00 or denials are desired result. 

Message 5 of 10
FireMedic1
Community Leader
Mega Contributor

Re: Too many Capital One accounts?


@Shooting-For-800 wrote:

@Anonymous wrote:

I am guessing you tried to apply for the QuicksilverOne and received that reasoning of too many Capital One accounts. The QS1 is a subprime account and you already have a max of 2 of those.

 

I would head to the garden for 6-12 months and let your accounts age. Then start applying for prime card and get rid of your secured cards that doesn't graduate. 


^ This.

 

I had 5 Cap One cards at one time and have 3 now.  

 

Any prequals?

Cap One, Merrick, Discover, Amex?


OP doesnt need anymore tempting to apply for more cards. Thats the last thing they need right now. Respectfully Submitted of course.......Smiley Wink


Message 6 of 10
alexgold9393
New Contributor

Re: Too many Capital One accounts?

Appreciate the advice, will head to gardening for the next 6 months!

 

Thanks


Open Accounts:


Message 7 of 10
kdm31091
Super Contributor

Re: Too many Capital One accounts?


@Remedios wrote:

Five accounts in two months, last thing they need to do is check prequals unless approvals for $50.00 or denials are desired result. 


This exactly. Need to let things cool down.

Message 8 of 10
Shooting-For-800
Senior Contributor

Re: Too many Capital One accounts?

One can look at prequals to help judge one’s position without applying for a card.

 

shheesshh.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 9 of 10
mikesonthemend
Valued Contributor

Re: Too many Capital One accounts?

OP, I agree with stopping the inquiries. No more applications until your last wast 6 months.

 

I do agree with checking for pre-qualifications. Don't apply evenn if asked to. It just let's you know if you have made progress, and some provide why they can't qualify you. So you know what to work on.

 

#ThisPostIsNotHallMonitorApproved




Living through Darwinism is so much worse than learning about about it in school.
Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.