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Capital One - 2nd Card

edited 30 November -1 at 1:00AM in Credit Cards
156 replies 28.7K views
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  • Somerset_La_La_LaSomerset_La_La_La Forumite
    995 posts
    Fifth Anniversary 500 Posts Name Dropper
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    This one?? http://www.capitalone.co.uk/creditcards/balance-plus-credit-card.jsf?d=y

    2k minimum limit as it's for excellent credit history - I guess yours is now!! :) now 2k minimum limit, merge and repeat you'd have a ridiculous cap1 limit in no time haha!!!
    Used to work in Underwriting. Only the lender can give a definitive answer to queries
  • edited 8 September 2016 at 10:33PM
    A4445A4445 Forumite
    1.1K posts
    edited 8 September 2016 at 10:33PM
    That's the one I did apply and it was approved like they said £2500 limit so I can merge that with the other card to make £5750. No more applications for me for a while lol I'm starting to look greedy.

    6.9% on balance transfers at any time with no fees is good.
  • Somerset_La_La_LaSomerset_La_La_La Forumite
    995 posts
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    Good plan, above the minimum too! It's absolutely ridiculous they will give you a brand new card, but will only give tiny increases to existing ones.

    Think of the administration time, costs etc setting up a new one, sending a card, CCA etc.... then in closing it all back down properly too!!!!

    My statement has appeared online in the last few hours (wasn't there when I checked at work) - tomorrow I should see if they'll give me a 2nd card!!
    Used to work in Underwriting. Only the lender can give a definitive answer to queries
  • edited 8 September 2016 at 10:42PM
    A4445A4445 Forumite
    1.1K posts
    edited 8 September 2016 at 10:42PM
    Well I tried yesterday and it was affordability and tried today and accept £2500 as the new card isn't a credit builder maybe their limit increases will work differently.

    Natwest approved me for a card @ 11.9% �� Is so weird when you need credit you cant get it and when you don't need credit you can get lots.

    Capital one statements normally come after 10pm the day their issued.
  • m4rcm4rc Forumite
    315 posts
    Can I clarify a few points? Do both cards have to be Capital One brand, or do any of their counts count? I have an old capital one account and an old Luma, had them both for a long time now, stupid low limits, won't increase.

    If I can merge them I just ring capital one and ask them to merge both? How long after they merge can I apply for a new card? I'm hopeful this would have a decent limit, £250 is just pointless.

    If I was successful how long before I merge those cards again? I did read through it all a few times, but wasn't entirely sure :)
  • Somerset_La_La_LaSomerset_La_La_La Forumite
    995 posts
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    Any issued by Capital One can be merged. Once (finally!) merged, A4445 appears to have opened another one within days, the quick check will tell you if you can have another one or not.

    The newest card must be 6 months old before a merge can take place :)

    If your circumstances have stayed the same or improved since the original applications then in theory you'd have a good chance of getting a better limit on the new cards (as any adverse on your file will be older and so less weighted against you).

    If you've picked up debt elsewhere, or your salary is low, then it may not be a decent limit - but all you can do is try and see!

    Also - you can apply for limit increases online now (via 'my account'). Try and increase both limits first.... then merge!
    Used to work in Underwriting. Only the lender can give a definitive answer to queries
  • m4rcm4rc Forumite
    315 posts
    Cheers for that Somerset. I wonder if the advisors have a clue what we mean when calling to merge cards - it sounds like A4445 had a hard time doing it!
  • A4445A4445 Forumite
    1.1K posts
    Capital One use the term consolidate, the original agent didn't do it correctly, but it was done correctly in the end. I was elegable for a new account 48 hours after the accounts were consolidated. I will give it 6 months as I would like to keep the new card as the APR much better and get rid of the high APR one. I know a lot of people complain about Cap 1 but I've found them great.
  • m4rcm4rc Forumite
    315 posts
    I just got round to doing this, the lady was very pleasant and seemed efficient (although had to over-explain every single point but I guess that's their job), but apparantly the consolidation will happen on the 15th October. Do you think she meant September, or does it take over a month?
  • A4445A4445 Forumite
    1.1K posts
    I was told the accounts would consolidate the day after the next statement of the account you choose to keep. This didn't happen for me. I called and there was an error the accounts concolidated 2 days after that call. Maybe give them a call back to clarify?
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