Capital One or Luma?

[Deleted User]

Just seen the Luma advert on tele, going on about taking people with poor credit etc.

Got me thinking, again, about why they've bothered to make the Luma brand...??

Similar to how Vanquis have Granite etc, all essentially issued by Vanquis. Luma is Cap1, under a different banner.

Do they 'credit score' differently, e.g. Cap1 is the traditional poor credit, Luma is for people with slightly better?

Or is it (my suspicion) some form of favorable accounting treatment in having multiple divisions to the same company, offering the exact same card with same rates etc?

The only thing I can see that is different is the name and logo! And they're not even 'disguised' (e.g. Luma trying to be an 'upgrade' by hiding the Cap1 branding) as it clearly states everywhere it's issued by Cap1.

So, which would be the best to apply to, and why?

(I'm not going to be given either, but am interested in views on why they're setup like this!?)

[Deleted User]

Luma is issued by Cap One, but promoted by MI Money. So a different financial set up.

It competes with the Cap One cards, though Cap One will feel they make enough from the contract to make it worthwhile. A little like you may find Heinz beans in an own brand can.

A4445

Capital one are behind quite a lot of cards

Ocean
Luma
Very
Littlewoods

Luma Apr is 1% higher than the rest. I believe they are scored the same. I applied for a cap one and got £1500 limit and 3m later I applied for an ocean card and also was given £1500.

The cards are linked together as I asked for an increase on capital one card as I've had it more than 6m, I had a message back saying unable to increase as I had a second capital one card that's less than 6m old.

In hindsight I wish I hadn't applied for the ocean card was abit pointless however it is possible to merge both accounts together to make 1 card with £3k.