Venture - Is waiting worth it?

[dapps06]

I was approved for a Venture in early April with a 10k limit. Recently I consolidated some of my Cap 1 accounts so I am now down to three.

QS - 12.8k

Venture - 10k

Plat Prestige - 1k

The QS has a balance of around 3k, I'll be paying this in full within the next 2-3 weeks. Two days ago I checked the Cap 1 prequal page and I'm pre-approved for a Venture and another QS. My question is, should I wait until after I pay off the QS in a couple of weeks to apply for a second Venture? Would that somehow improve the limit and/or rate compared to if I just applied now? I don't need another card, but if I could get another 10-15k with another Venture that wouldn't be terrible. I'd probably just consolidate that line six months from now anyway. I have two months to go on my current Venture and PP before I can consolidate those into my QS. So will waiting to pay off that balance matter? The only other balance I have is around 3.8k on my Slate, and at the same time that I pay off my QS I'll be paying 2k towards the Slate balance as well.

[CreditJim]

What APR is the pre-qual offering? That's probably the best indicator of a large or lower CL.

[dapps06]

17.9 for both the QS and Venture. The Venture I was approved for a few months ago for 10k also started at 17.9. My QS is at 22.9 and was a 3k approval.

Edit: Forgot to mention that I also recently paid four cards off. My Venture had a balance around 450, and my Discover/Walmart/Plat Prestige all had around 200 each. Those have been paid off but only a week or so ago so it hasn't posted yet....if this matters.

[kdm31091]

Don't make a habit out of applying and consolidating. 10k is still a pretty big limit they gave you in April. Do you really need more than that?

As far as your question with waiting I would wait until the prequal offers you a significantly better APR than what you have if you really want to go ahead with this

[Anonymous]

Personally, I think you answered your own question when you said "I really don't need the card". If I was you, I would absolutely not take a triple HP to get duplicate cards. It makes no sense really. Instead, what I would do is, charge as much as you can on your current 10K Venture, than in a few months, try for a CL increase. You'll get it, and with NO HP's. That's what I would do. Why carry multiple cards of the exact same product with AF's no less. Don't waste those HP's. Use um for another lender's CC that you really want or need. That's just my opinion. Remember, don't get caught up on this site (no offense) and some of the things people do here. This really is NOT normal, everyday, credit usage. Outside of these forum's, very, very, few people carry duplicate cards from the same lender. Go for something else. Quality over quantity has always been my rule. Best of luck.

[UncleB]

---

@Anonymous wrote:
Personally, I think you answered your own question when you said "I really don't need the card". If I was you, I would absolutely not take a triple HP to get duplicate cards. It makes no sense really. Instead, what I would do is, charge as much as you can on your current 10K Venture, than in a few months, try for a CL increase. You'll get it, and with NO HP's. That's what I would do. Why carry multiple cards of the exact same product with AF's no less. Don't waste those HP's. Use um for another lender's CC that you really want or need. That's just my opinion. Remember, don't get caught up on this site (no offense) and some of the things people do here. This really is NOT normal, everyday, credit usage. Outside of these forum's, very, very, few people carry duplicate cards from the same lender. Go for something else. Quality over quantity has always been my rule. Best of luck.

---

+1

[Anonymous]

not to mention there's no spend caps or rewards caps. idk why you'd want another. plus you have almost $24k exposure with them...

[kdm31091]

Right, taking a triple HP to get a duplicate card is pretty unnecessary considering that as mentioned there are no reward caps on Venture and 10k should be a sufficient limit for most people...don't get greedy.

[dapps06]

---

@kdm31091 wrote:

Right, taking a triple HP to get a duplicate card is pretty unnecessary considering that as mentioned there are no reward caps on Venture and 10k should be a sufficient limit for most people...don't get greedy.

---

I can assure you greed is not a problem I deal with, the main benefit of having another 10k card is for utilization purposes only. I like creating breathing room when I can, I don't max out my cards but it's never bad to add to your limits IMO, you never know when you might run into trouble and need the extra spending power.

Anyway, just wanted to clarify that greed has nothing to do with this, the world isn't so black/white that everyone who's looking into getting another card is doing so out of greed.

[kdm31091]

---

@dapps06 wrote:

---

@kdm31091 wrote:

Right, taking a triple HP to get a duplicate card is pretty unnecessary considering that as mentioned there are no reward caps on Venture and 10k should be a sufficient limit for most people...don't get greedy.

---

I can assure you greed is not a problem I deal with, the main benefit of having another 10k card is for utilization purposes only. I like creating breathing room when I can, I don't max out my cards but it's never bad to add to your limits IMO, you never know when you might run into trouble and need the extra spending power.

Anyway, just wanted to clarify that greed has nothing to do with this, the world isn't so black/white that everyone who's looking into getting another card is doing so out of greed.

---

If the card is strictly for utilization, then apply for something with a different issuer and take one HP instead of 3. This way you can also end up with a different product instead of a duplicate of the same exact thing you already have.

I only said "greed" because it seems you want to apply and then merge to create one mega card. I doubt Capital One institiuted the new policy because they want people doing this thing constantly and if someone does it a lot, it's just one step towards Capital One getting rid of the policy. That is what I meant by greed. The policy is to benefit people who legitimately open cards with them (different cards) and later one to combine. It is not, IMO, so that you can open 2 or more Venture cards and end up with one huge limit. But you have to do what you feel is best.

So if it's not for the reason I'm suggesting, then just apply for a different product altogether and avoid 3 HPs for the same product you already have. Otherwise yes, I feel you are being a bit greedy but that's your call.