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    • Somerset La La La
    • By Somerset La La La 3rd Sep 16, 11:12 AM
    • 822Posts
    • 306Thanks
    Somerset La La La
    Capital One - 2nd Card
    • #1
    • 3rd Sep 16, 11:12 AM
    Capital One - 2nd Card 3rd Sep 16 at 11:12 AM
    Hi all

    When holding one Cap1 card you can open another once your first card has been open 2 or 4 months (it varies depending where on the site you look!).

    To those that applied for the second - did the eligibility checker work & give you a chance of approval (e.g. 50/90/100 etc)?

    Or did you just go straight to the page and then 'apply now' (skipping the eligibility check)

    Getting a straight answer to whether it will ever work from Cap1 for a 2nd card is like getting blood from a stone. At the moment I fail eligibility on affordability, but am wondering whether I'd get a card if I put it straight through on the apply screen.

    Anyone got any experience?

    If the eligibility does work for 2nd apps, then I'll wait until that says I'll get one...... if not then it's like waiting for hell to freeze over!
    Work in Underwriting (Mortgages) - posts are my opinion/experience etc, not official company policy/lending rules.

    Only the underwriter assigned to a case at full application stage can give a 100% definitive answer to queries
Page 2
    • Somerset La La La
    • By Somerset La La La 8th Sep 16, 10:07 PM
    • 822 Posts
    • 306 Thanks
    Somerset La La La
    I would say the limit will be pants if you're 'affordability' one day, 100% the next......... but this is cap 1! They are a strange bunch.

    I'm still amazed by my total rejection (unsecured) and flat out decline for secured card..... 2 weeks later, 100% for 6 cards, including 'platinum', 1k limit!

    When you say normal 19.9 what ones that?? I want it but best one I can find is platinum (which I already have) @ 29.84% rep APR??
    Work in Underwriting (Mortgages) - posts are my opinion/experience etc, not official company policy/lending rules.

    Only the underwriter assigned to a case at full application stage can give a 100% definitive answer to queries
    • Somerset La La La
    • By Somerset La La La 8th Sep 16, 10:11 PM
    • 822 Posts
    • 306 Thanks
    Somerset La La La
    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!!!
    Work in Underwriting (Mortgages) - posts are my opinion/experience etc, not official company policy/lending rules.

    Only the underwriter assigned to a case at full application stage can give a 100% definitive answer to queries
    • A4445
    • By A4445 8th Sep 16, 10:30 PM
    • 1,086 Posts
    • 559 Thanks
    A4445
    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.
    Last edited by A4445; 08-09-2016 at 10:33 PM.
    • Somerset La La La
    • By Somerset La La La 8th Sep 16, 10:35 PM
    • 822 Posts
    • 306 Thanks
    Somerset La La La
    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!!
    Work in Underwriting (Mortgages) - posts are my opinion/experience etc, not official company policy/lending rules.

    Only the underwriter assigned to a case at full application stage can give a 100% definitive answer to queries
    • A4445
    • By A4445 8th Sep 16, 10:38 PM
    • 1,086 Posts
    • 559 Thanks
    A4445
    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.
    Last edited by A4445; 08-09-2016 at 10:42 PM.
    • m4rc
    • By m4rc 9th Sep 16, 9:29 PM
    • 300 Posts
    • 388 Thanks
    m4rc
    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 La
    • By Somerset La La La 9th Sep 16, 9:45 PM
    • 822 Posts
    • 306 Thanks
    Somerset La La La
    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!
    Work in Underwriting (Mortgages) - posts are my opinion/experience etc, not official company policy/lending rules.

    Only the underwriter assigned to a case at full application stage can give a 100% definitive answer to queries
    • m4rc
    • By m4rc 9th Sep 16, 11:30 PM
    • 300 Posts
    • 388 Thanks
    m4rc
    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!
    • A4445
    • By A4445 9th Sep 16, 11:55 PM
    • 1,086 Posts
    • 559 Thanks
    A4445
    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.
    • m4rc
    • By m4rc 14th Sep 16, 5:35 PM
    • 300 Posts
    • 388 Thanks
    m4rc
    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?
    • A4445
    • By A4445 14th Sep 16, 6:07 PM
    • 1,086 Posts
    • 559 Thanks
    A4445
    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?
    • m4rc
    • By m4rc 14th Sep 16, 8:35 PM
    • 300 Posts
    • 388 Thanks
    m4rc
    That would actually make sense, the statement for the one I'm keeping is due tomorrow, so I'm guessing the 15th October is about riht for the next one, and that it's too soon for it all to have been done before the statement tomorrow.

    She did sound confident that it was happening, explained how o wouldn't get this and would get that and mustn't try to use the closed card etc, she also said I'd get a letter clarifying.

    It's only a month to wait so I guess I'll soon find out. The card I'm closing may stop sooner so I'll keep an eye on that online, the statement for that one is due around the 5th of October.

    So 48 hours after it happens I'll check if I can get a new card, how soon can I consolidate those? As you are waiting 6 months I'm assuming you have to have an account open 6 months to make that the one you keep and transfer too?
    • A4445
    • By A4445 14th Sep 16, 9:03 PM
    • 1,086 Posts
    • 559 Thanks
    A4445
    I've got the original classic card 3250 34.9% and the new card 2500 @19.9.

    I've only just consolidate so I'm gonna give it 2momths and then try and consolidate into lower rate card. I won't be applying again a limit of 5750 is plenty. They offer 6.9% no fee balance transfers whenever on the new card so that's quite a good deal.
    • m4rc
    • By m4rc 14th Sep 16, 9:17 PM
    • 300 Posts
    • 388 Thanks
    m4rc
    Sounds good! I'm doing it as I've had these cards for ages, the older one maybe 3 years, the limit has never increased from 200 even though the Apr is 24.9%. The other card has a higher Apr, so I'm closing that should get the benefit of having a settled account on my file and one ever so slightly higher limit is better than two pathetically small ones. If I can then get them to give me a new card wih at least a thousand I can consolidate again and that will start to make a difference and look like a reasonable card. I guess it all depends how often they let me consolidate and reapply again. Did you just do it once or is it something you've done several times A4445?
    • A4445
    • By A4445 14th Sep 16, 9:33 PM
    • 1,086 Posts
    • 559 Thanks
    A4445
    I had 1500 on the classic card that was increased to 1750. I had an ocean card with 1500 and I combined that for the 3250. Once the ocean card was closed I ran the quick check and I was 100% chance of the lower rate card. Fingers crossed I can consolidate to the low rate card if not I will just get rid of the high APR card as I have other better rate cards.
    • A4445
    • By A4445 5th Oct 16, 12:07 PM
    • 1,086 Posts
    • 559 Thanks
    A4445
    I think Capital One are wiseing up to this they have increased the time you can apply for a second card for 2 months to 4 months.
    • m4rc
    • By m4rc 5th Oct 16, 6:53 PM
    • 300 Posts
    • 388 Thanks
    m4rc
    I think Capital One are wiseing up to this they have increased the time you can apply for a second card for 2 months to 4 months.
    Originally posted by A4445
    The time from when? From closing a card u til you can apply again? I was told you can only consolidate to a card that is older than a certain amount of time, I believe the lady said it was 6 months but it could have been longer. So in theory if you could keep opening cards you could consolidate to the same account over an drew over, but not the other way which was your plan.

    My accounts are meant to be consolidated next week, I was going to try to apply soon after, but you think they will now say I must wait 4 months?
    • A4445
    • By A4445 6th Oct 16, 11:32 PM
    • 1,086 Posts
    • 559 Thanks
    A4445
    I've sent them a message online to clarify, will update when I've had a reply

    I was able to open a new account 2 days after the old one closed.
    • Somerset La La La
    • By Somerset La La La 7th Oct 16, 4:54 PM
    • 822 Posts
    • 306 Thanks
    Somerset La La La
    One screen says you can apply after 2 months ('Help' once your are logged in), another one says 4 months. It's been like that for a while, so maybe there was a transition period but now they are enforcing it? Still haven't bothered updating the 2 month reference though!

    I've had mine 3 months now and it still says affordability fail for me. Will be interesting to see if it does update to say approved next month (4 months). If it does, I'll wait until 6 months anyway - but will be interesting to see if 4 months is the trigger point now.

    My first limit was surprisingly high, so I'm thinking maybe they just went with the max they want to give me.

    Rather than do a worse thing of giving me 200 in July, 200 in Sept, let me combine them in March, then 200 shortly after etc. I'd take forever to even get to the grand I've got that way - so I should be thankful really!
    Work in Underwriting (Mortgages) - posts are my opinion/experience etc, not official company policy/lending rules.

    Only the underwriter assigned to a case at full application stage can give a 100% definitive answer to queries
    • DarrenW80
    • By DarrenW80 7th Oct 16, 5:19 PM
    • 23 Posts
    • 2 Thanks
    DarrenW80
    This thread is interesting as I have a Capital One card, I have had it for over a year now and when I first applied I was given 1000 limit and then in 5 months they upped it to 1750. I have just applied for another card with Ocean and got approved and they have given me a 200 limit. What I would like to know is, over time will the 200 limit on the Ocean card get upped if I pay on time every month and pay it off in full?
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