Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Somerset La La La
    • By Somerset La La La 3rd Sep 16, 11:12 AM
    • 793Posts
    • 284Thanks
    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 4
    • owlet
    • By owlet 26th Oct 16, 12:20 AM
    • 1,505 Posts
    • 1,502 Thanks
    owlet
    I tried again last night and was 100% pre-approved, so I submitted application and got a new card with a 1000 limit. Higher APR than my other Capital One card though.

    So what are the rules on consolidating these? Does the new one have to be 6 months old?
    Originally posted by m4rc
    I did mine as soon as I received the new card. I did it over the phone and she said it was all done.

    I need to ring them back though because when I log into my accounts they still haven't merged. Everything is still the same.
    SPC 8 (2015) #485 TOTAL: 334.65
    SPC 9 (2016) #485 TOTAL 84
    SPC 10 (2017) # 485 TOTAL: 464.80
    SPC 11 (2018) #485
    • cmc_entertainment
    • By cmc_entertainment 26th Oct 16, 8:47 AM
    • 332 Posts
    • 387 Thanks
    cmc_entertainment
    Questions

    I have the cap 1 plat at 29% with a low limit which has not increased at all since opening just over a year ago. Even after asking every 4 months.

    I applied for the cap 1 balance transfer card and got a 1k limit last week. This interest is higher at 34%.

    Could i consolidate the 2 now into the 29% card or should I wait and have a payment history with the new card?

    Also does the new card have to be zero balance to consolidate as i have not spent on it at the moment but have a running balance on the Plat29% card?

    Mtia
    Last edited by cmc_entertainment; 26-10-2016 at 8:49 AM.
    <mythbuster>
    Failure is always an option
    </mythbuster>
    • m4rc
    • By m4rc 27th Oct 16, 9:22 PM
    • 300 Posts
    • 388 Thanks
    m4rc
    Yea you can just consolidate them apparently, I thought I'd have to wait a while but I'm going to try as soon as the card arrives.
    • DarrenW80
    • By DarrenW80 1st Nov 16, 9:54 AM
    • 23 Posts
    • 2 Thanks
    DarrenW80
    I have a Capital One Card and a Ocean card, I have had the Capital One card 18 months and the Ocean card 1 month. I phoned them last night and got them to merge both accounts and close the Ocean account and they said it would take 2 days for it to happen. I am sure I read on here that you have to of had your 2nd account for 6 months before you can merge? When I phoned them they didn't say anything about having to wait, I will see what happens in 2 days
    • owlet
    • By owlet 1st Nov 16, 2:21 PM
    • 1,505 Posts
    • 1,502 Thanks
    owlet
    I have a Capital One Card and a Ocean card, I have had the Capital One card 18 months and the Ocean card 1 month. I phoned them last night and got them to merge both accounts and close the Ocean account and they said it would take 2 days for it to happen. I am sure I read on here that you have to of had your 2nd account for 6 months before you can merge? When I phoned them they didn't say anything about having to wait, I will see what happens in 2 days
    Originally posted by DarrenW80

    I only had my second account for a few days & hadn't used it and I merged ok. It took a couple of weeks for the merge to complete though. I've just had a letter to say it's done.
    SPC 8 (2015) #485 TOTAL: 334.65
    SPC 9 (2016) #485 TOTAL 84
    SPC 10 (2017) # 485 TOTAL: 464.80
    SPC 11 (2018) #485
    • Somerset La La La
    • By Somerset La La La 1st Nov 16, 9:34 PM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    They told me 'no changes' could be made before the 6 month mark.... obviously that was wrong!!

    I'm still fail in on affordability - just made my 4th payment, hoping they'll let me have another next week. I won't claim it til 6 months though (and try for a limit increase on my existing card simultaneously.....)
    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 5th Nov 16, 5:00 PM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    These companies struggle to count. Vanquis still think I've applied within the last 6 months (22nd April is more than 6 months by my maths).

    Capital One seem to have the 4 month mark as suggested - but this is still a few days too early for that!

    Just looked at my clearscore (not even on a file refresh date) and I'm pre-approved for

    Cap1 Classic 34.9%, 3 months 0%
    Luma 35.9%, 3 months 0%.

    A few days ago they were all blocked.

    So I went for Cap1 Classic and got the max 1,500 credit limit. Checked my existing Cap1 for an increase before I submitted, and got declined due to it being < 6 months old. Madness. If they'd just add 1.5k to my existing card they'd save costs on postage, a new account setup, CCA etc etc!!

    I'll keep the accounts as is for 3 months, then unsure whether to continue 'as is', or whether to merge/consolidate the 34.9% into the Platinum 28.94%?!?! 2 streams of Credit Card 0's... or 1 large limit less 0's. Decisions decisions!

    Edit: Just applied for Luma straight after to see what happens (it was also pre-approved), got to await decision, then got the 'one of our team need to do extra checks'. Expecting a no, but you never know haha!
    Last edited by Somerset La La La; 05-11-2016 at 5:06 PM.
    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 5th Nov 16, 5:51 PM
    • 1,084 Posts
    • 557 Thanks
    A4445
    My new account is only two months old if I try their checker it's says I fail on affordability. I will try again after 4 months and see what it says. I think your luma application will be cancelled as you can only have two accounts.
    • Somerset La La La
    • By Somerset La La La 9th Nov 16, 11:38 AM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    I'm back to affordability decline now, but I've got 2 active cards. Was expecting a 'max of 2 cards' decline instead!

    Haven't heard about my Luma app, assume it's been declined!

    In online servicing I have two usernames (work address - first card, personal - 2nd card). It's not saying "you have a 2nd account under 6 months" it's just saying "your [i.e. the current] account" is under 6 months.

    Will be interesting to see if it changes in 2 months when I request an increase at 6m - as the Cap1 cards aren't tied up on online servicing (does that ever happen??) - so maybe I've got 2 profiles!?
    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 9th Nov 16, 7:54 PM
    • 1,084 Posts
    • 557 Thanks
    A4445
    I think it's definitely more than 2 months for a second card. I'm getting the affordability message and my new account have been open for more than 2 months.
    • Somerset La La La
    • By Somerset La La La 10th Nov 16, 7:13 PM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    I think it's definitely more than 2 months for a second card. I'm getting the affordability message and my new account have been open for more than 2 months.
    Originally posted by A4445
    Yea I had to wait until 4 months (well a few days short of 4!). 4

    Their online banking is conflicting info, but clearly the 2 months needs updating if I can get 'affordability' at 3 months and 1.5k shortly after!!

    My new card arrived today, amazingly quick!!
    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 17th Dec 16, 9:44 AM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    Tried to increase my limit on my original 'platinum' card today, it's just over 5 months since I was accepted. My 5th statement arrived the other day, no sign of a limit increase.

    WE CAN'T INCREASE YOUR CREDIT LIMIT RIGHT NOW

    We recently let you know about an increase to your credit limit which will be applied to your account soon. While this increase is pending, we're unable to process your new request.

    Your increased credit limit will be available soon and we'll let you know when it's ready to use.
    It's definitely not on the statement, and my account still shows 1k. Will be very interesting to see what it goes up to (and when!)

    Most bizarre timing from them, as it's not 6 months since I took the card yet, and I've just had another 1,500 card from them which is 99.59% maxed out (0% promo)!

    I think some of these cards are like elite nightclubs..... can be very hard to get into, but once you're in you have a whale of a time!!

    Edit: My 2nd card also says we recently gave you an increase - presumably in relation to the 1st... but the profiles are most definitely tied then (despite the bizarre way of servicing the accounts under 2 different logins!)
    Last edited by Somerset La La La; 17-12-2016 at 9:45 AM. Reason: 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
    • Matty17
    • By Matty17 22nd Nov 17, 9:03 AM
    • 15 Posts
    • 3 Thanks
    Matty17
    Hey, I opened a capital one card in May with a 200 limit. On the 25th September I opened a secon card with the same limit and closed the new one on the same day. When I try quick check it states I already have an application in progress with them. I do not as capital one have confirmed this they did however state I need to wait two months from second card closure before re applying. Is this correct as I can see that some people have opened a new one a few days after the old one closing?
    • Gary_Dexter
    • By Gary_Dexter 22nd Nov 17, 2:03 PM
    • 6,983 Posts
    • 4,645 Thanks
    Gary_Dexter
    What are you hoping to gain by opening and closing accounts with the same provider with the same credit limit?
    • cmc_entertainment
    • By cmc_entertainment 12th Dec 17, 5:04 PM
    • 332 Posts
    • 387 Thanks
    cmc_entertainment
    Done mine via the telephone. Completed 3 Days later. Now waiting the time to do another eligibility check
    <mythbuster>
    Failure is always an option
    </mythbuster>
    • cmc_entertainment
    • By cmc_entertainment 13th Dec 17, 7:44 AM
    • 332 Posts
    • 387 Thanks
    cmc_entertainment
    So 2 working days after it seems I am eligible again

    Top hint:
    Look if accepted/eligible, but before application, check the source code for the following crLineAlocdAmt. It will be there around 7/8 times but it will give an good indication of what you'll receive.

    Proof: done a check for the other half and looked at the source code. The min figure after crLineAlocdAmt was 750 to max 1250. She got 750 after going through the full application
    Last edited by cmc_entertainment; 13-12-2017 at 7:51 AM.
    <mythbuster>
    Failure is always an option
    </mythbuster>
    • Somerset La La La
    • By Somerset La La La 31st Dec 17, 3:01 PM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    If you opened an account recently you can't open another until 2 months after the last, even if you closed the first. There's a line in the source for declined due to L2M....

    I had 2.5k ish outstanding on my normal card (just monthly spending and repay in full). Limit 4k via various consolidations. Affordability decline - source code: Max credit limit

    Reduced my credit limit down to 3,000 and re-checked, and was then accepted for 750, 4 months 0% (essentially 5 because of the dates). So my 'max' had obviously come down from 4k to 3,750 since my last apps based on the monthly feed/conduct (and fair enough because I've got a car loan, new accounts etc). Consolidated the accounts, and after hitting my head against a brick wall with their CS a few times, they did confirm the entire balance would be 0% until April so I've switched to minimum payments and maxed it out.

    My L2M marker expires in a few days, going to re-check. Hopefully my max has gone back up to 4k - then I can open a card @ 250, 4 months 0%, and consolidate the entire 3,750 over...

    Sadly I think they won't, as my job has changed (I don't think they wanted time in employment in the full app?? But they'll guess from the job title change in the eligibility check!). So I might have to pay a bit off, reduce the limit again and then repeat and combine from last time. Ultimately I guess if they've re-assessed me to something silly like 2k max risk, I'll have to keep dropping the limit. I'm hoping it's only a minor drop!

    I could pay it off if I must, but living in rented accommodation I'd much rather have the 3k available in cash if I need to move etc!


    Interesting your other half got various figures CMC. I've found my CrLineAlocd has always been the same for every line - each one is a different product so if it varies you need to work out which product is which - click through from Totally Money/Clearscore etc and it appears in the URL.

    Would be interesting to see if their 'better' products have lower limits (since they're a higher tier of product and so you're eligible for less as you go up the sub-prime system), or higher limits because you've chosen the 'higher' track. If you play it right and solely chase the limits (the benefits on all their sub-prime cards are quite limited afterall!) you could game the system to pick a 1,250 card rather than a 750 card.

    I'll make sure to keep an eye out for that next week!

    Also - my app used something like the "upmarket risk model" which I'm presuming was because of my salary and/or job title (Manager). Will be interesting what is it now (same salary but title has dropped to 'senior' at a different company) - that must impact upon what's offered, but sadly even their very detailed source code didn't give too much away!
    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
    • cmc_entertainment
    • By cmc_entertainment 31st Dec 17, 10:23 PM
    • 332 Posts
    • 387 Thanks
    cmc_entertainment
    If you opened an account recently you can't open another until 2 months after the last, even if you closed the first. There's a line in the source for declined due to L2M....

    I had 2.5k ish outstanding on my normal card (just monthly spending and repay in full). Limit 4k via various consolidations. Affordability decline - source code: Max credit limit

    Reduced my credit limit down to 3,000 and re-checked, and was then accepted for 750, 4 months 0% (essentially 5 because of the dates). So my 'max' had obviously come down from 4k to 3,750 since my last apps based on the monthly feed/conduct (and fair enough because I've got a car loan, new accounts etc). Consolidated the accounts, and after hitting my head against a brick wall with their CS a few times, they did confirm the entire balance would be 0% until April so I've switched to minimum payments and maxed it out.

    My L2M marker expires in a few days, going to re-check. Hopefully my max has gone back up to 4k - then I can open a card @ 250, 4 months 0%, and consolidate the entire 3,750 over...

    Sadly I think they won't, as my job has changed (I don't think they wanted time in employment in the full app?? But they'll guess from the job title change in the eligibility check!). So I might have to pay a bit off, reduce the limit again and then repeat and combine from last time. Ultimately I guess if they've re-assessed me to something silly like 2k max risk, I'll have to keep dropping the limit. I'm hoping it's only a minor drop!

    I could pay it off if I must, but living in rented accommodation I'd much rather have the 3k available in cash if I need to move etc!


    Interesting your other half got various figures CMC. I've found my CrLineAlocd has always been the same for every line - each one is a different product so if it varies you need to work out which product is which - click through from Totally Money/Clearscore etc and it appears in the URL.

    Would be interesting to see if their 'better' products have lower limits (since they're a higher tier of product and so you're eligible for less as you go up the sub-prime system), or higher limits because you've chosen the 'higher' track. If you play it right and solely chase the limits (the benefits on all their sub-prime cards are quite limited afterall!) you could game the system to pick a 1,250 card rather than a 750 card.

    I'll make sure to keep an eye out for that next week!

    Also - my app used something like the "upmarket risk model" which I'm presuming was because of my salary and/or job title (Manager). Will be interesting what is it now (same salary but title has dropped to 'senior' at a different company) - that must impact upon what's offered, but sadly even their very detailed source code didn't give too much away!
    Originally posted by Somerset La La La
    Thanks for the L2M tip.

    Done the consolidation and limit up to 1950

    You can tell by the time it takes to check. A quick checking and then complete is a rejection and anything longer is more likely.

    Also MneySuperMarket always has the better deals on cap1 cards eg 6 months 0% BT and 4 months 0% purchases fyi
    <mythbuster>
    Failure is always an option
    </mythbuster>
    • Somerset La La La
    • By Somerset La La La 1st Jan 18, 9:17 AM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    I have imacro for chrome (fills the form out quickly!) for checking on the Cap1 site direct, then go hunting for the best card. Thanks I'll check MoneySuperMarket, I know they had 'exclusive' aqua deals before too.

    I think I'm eligible again from Wednesday (they do 2 months to the minute too - if you applied at 9:30am and check at 9am you get declined, but then again later on and it goes through!). Although as my 0% runs out just after Easter, so I won't apply just yet - just want to see if I'm eligible again (or more likely, what the decline reasons are!).

    Last time was quite funny, I consolidated within an hour - so the new card/pin etc hadn't even been dispatched yet!! Why they can't just offer existing customer promos like Barclaycard (& even Vanquis!) I really don't know - it would save them a lot of time/money/effort

    Once I've got a house I want to work in lending, ideally with them (they seem an interesting bunch!)
    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
    • Gary_Dexter
    • By Gary_Dexter 2nd Jan 18, 2:34 PM
    • 6,983 Posts
    • 4,645 Thanks
    Gary_Dexter
    I have one Capital One Classic Card with a limit of 750 on it.

    I have just applied for and been accepted for a Balance Transfer card from C1 with a limit of 1500 on it.

    Is it possible to close the card with the 750 limit on and have the limit "merged" into the one with 1500 on it - thus making my limit 2250 on the one card?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

172Posts Today

2,107Users online

Martin's Twitter