Capital One - 2nd Card

Somerset_La_La_La wrote: »

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!