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  • 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 1
    • A4445
    • By A4445 3rd Sep 16, 11:26 AM
    • 1,080 Posts
    • 553 Thanks
    A4445
    • #2
    • 3rd Sep 16, 11:26 AM
    • #2
    • 3rd Sep 16, 11:26 AM
    I applied for the first Capital One card on the 28th of October. I applied for the second card with Ocean on the 16th of January, the Ocean Quick check stated 100% chance of card. Its 2 cards max.
    • Dandytf
    • By Dandytf 3rd Sep 16, 1:23 PM
    • 2,403 Posts
    • 540 Thanks
    Dandytf
    • #3
    • 3rd Sep 16, 1:23 PM
    • #3
    • 3rd Sep 16, 1:23 PM
    Hi

    I have cap 1 for 2-3yrs (below 35% usage) 200 increased after 18mths to 450 limit.

    Accepted Luma card a few weeks ago -1000 initial limit- 55 spent 'emergency car tyre' 3 mths 0%
    sc dmp 2012 13k Jan 2019 9880paid. 75%approx.
    Mid 2018 Help2save 50 uk pounds per month
    Mid 2019-Virgin Money e-saver reward 18 -T.b.c.
    • Somerset La La La
    • By Somerset La La La 3rd Sep 16, 2:32 PM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    • #4
    • 3rd Sep 16, 2:32 PM
    • #4
    • 3rd Sep 16, 2:32 PM
    Thanks, I'll keep checking that then! Wanting another ASAP, then to try & up the limit on my first, followed by my 2nd, then combine them!

    Officially I'm still a few days short of the 2 months mark, that might be why. Affordability is a ridiculous reason, basically code for 'we don't trust you'!
    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 3rd Sep 16, 3:05 PM
    • 1,080 Posts
    • 553 Thanks
    A4445
    • #5
    • 3rd Sep 16, 3:05 PM
    • #5
    • 3rd Sep 16, 3:05 PM
    Just to warn you, if you open a second card, the first card won't be eligible for an increase until the second card is 6 months old. If you try to increase the limit you get a message that says " we can't increase your limit now as you have a second card with us that's less than 6 months old"
    • Somerset La La La
    • By Somerset La La La 3rd Sep 16, 3:09 PM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    • #6
    • 3rd Sep 16, 3:09 PM
    • #6
    • 3rd Sep 16, 3:09 PM
    Ah that's a pain. Only 2 'extra' months though, so if they're going to give it I need it pretty much 2 months and 1 day after I opened my first account!

    Otherwise I'll try waiting til the 6th month.... checking to see if I can get another card (through eligibility checker) and if it says yes, quickly logging into servicing and trying to put my first card up before I apply!!!! :P

    What I really want is Vanquis - they make it a lot easier to get a high limit!
    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 3rd Sep 16, 3:16 PM
    • 1,080 Posts
    • 553 Thanks
    A4445
    • #7
    • 3rd Sep 16, 3:16 PM
    • #7
    • 3rd Sep 16, 3:16 PM
    Capital One are not very good with limit increases, I got an extra 250 on one card only 1500 to 1750.

    I've been accepted for a new card..4000 limit @ 18.9% so tempted to get rid of Capital One all together.
    • MysteryCredit
    • By MysteryCredit 3rd Sep 16, 4:53 PM
    • 26 Posts
    • 7 Thanks
    MysteryCredit
    • #8
    • 3rd Sep 16, 4:53 PM
    • #8
    • 3rd Sep 16, 4:53 PM
    Capital one have a great little trick, which is how I have such an absurd limit with them.

    But to answer your question first about the eligibility checker it always showed 0% for capital one after holding one.

    So the trick is open a second account, ask them to transfer your credit limit to the account you had the longest, and they close the new account after. Repeat every 2 months and have a great limit soon enough.
    • Somerset La La La
    • By Somerset La La La 3rd Sep 16, 5:29 PM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    • #9
    • 3rd Sep 16, 5:29 PM
    • #9
    • 3rd Sep 16, 5:29 PM
    Capital one have a great little trick, which is how I have such an absurd limit with them.

    But to answer your question first about the eligibility checker it always showed 0% for capital one after holding one.

    So the trick is open a second account, ask them to transfer your credit limit to the account you had the longest, and they close the new account after. Repeat every 2 months and have a great limit soon enough.
    Originally posted by MysteryCredit
    So did you just apply directly then through the product details page then?

    Strange as A4445 above got 100% with Ocean (which is run by (and through) the same Cap1 eligibility check system).

    If they say not eligible to me after the 9th (When I've held my existing one for 2 months) I might just stick an app through anyway.... so what happens!

    And the new card, combine, new card is my plan.... people in the US have done it up to ridiculous limits!!
    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
    • Dandytf
    • By Dandytf 3rd Sep 16, 5:45 PM
    • 2,403 Posts
    • 540 Thanks
    Dandytf
    Just to warn you, if you open a second card, the first card won't be eligible for an increase until the second card is 6 months old. If you try to increase the limit you get a message that says " we can't increase your limit now as you have a second card with us that's less than 6 months old"
    Originally posted by A4445
    I agree though to add I did try a 2nd in 3rys Cap1 rise from 450-declined due to way I was using my card -no late payments no where near the 450 limit at the time.

    I was honestly surprised when Luma application offered a new card with 1000 0% 3mths.

    Find it funny that Cap 1 wouldn't offer increase find it impossible to answer why I get the Luma card considering both are Cap 1 cards.
    sc dmp 2012 13k Jan 2019 9880paid. 75%approx.
    Mid 2018 Help2save 50 uk pounds per month
    Mid 2019-Virgin Money e-saver reward 18 -T.b.c.
    • MysteryCredit
    • By MysteryCredit 3rd Sep 16, 5:56 PM
    • 26 Posts
    • 7 Thanks
    MysteryCredit
    It's a great way to get credit limit increases every two months

    I meant MSE Eligibitly checker always shows I'm 0% chance, however capital one website after the two months gives me the 100% guaranteed so I'm not sure how they can be linked.

    However waiting 3 months in my practise has worked better. If I wait the straight two months the new limit is 200 (Happened Twice) however waiting 3 months has given 1500 on each try.
    • A4445
    • By A4445 3rd Sep 16, 8:32 PM
    • 1,080 Posts
    • 553 Thanks
    A4445
    I called Cap One last month to consolidate both cards but it wasn't done, agent didn't do it properly. It will consolidate the end of this month hopefully. I will run the quick check at the end of the month and see what it says.

    Not quite sure why you would want a large limit as the APR is very high. It would cost a fortune to run a balance.
    • MysteryCredit
    • By MysteryCredit 3rd Sep 16, 8:34 PM
    • 26 Posts
    • 7 Thanks
    MysteryCredit
    I don't run a balance. But great to pay for large purchases in one go.
    • Somerset La La La
    • By Somerset La La La 3rd Sep 16, 10:04 PM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    Hmmm, will be interesting to see if a card is offered next month.... if it is, I may wait a month before going through and see what the new limit is! I guess every 2 months does make you look desperate, but that's a ridiculous jump from 2 to 3 months - there seems no logic in some of these decisions (including Cap1's limit increase 'policy')

    I don't want to run a balance - it's for Car Rental excess. They generally demand something silly like 1,000 pre-auth from a credit card, some get funny about using a debit card - even though that amount in cash is in there.

    Plus an account for several thousand on my credit report will look better and show I'm behaving nowadays
    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
    • john1002
    • By john1002 4th Sep 16, 9:20 AM
    • 959 Posts
    • 390 Thanks
    john1002
    Don't forget each time you apply you will have hard searches on call credit and equifax.

    This could impact you applying for something else or another cap one card.

    John
    • Somerset La La La
    • By Somerset La La La 6th Sep 16, 6:23 PM
    • 793 Posts
    • 284 Thanks
    Somerset La La La
    Very good point. When I applied for my first card, I had Experian & Equifax, which is even worse!!

    I think if that's *all* someone is applying for, then if 3 months is the optimal interval for highest limit, 4 a year isn't a great deal. Even if you then add in a few apps elsewhere, any lower than say 12 a year isn't a great deal (unless you want a mortgage etc).

    What worries me more is all the new & short lived accounts on the credit file (all are going to be combined and shut within 7 months!), but if the limit is decent it's worth doing IMO. If it was 200 I think I'd keep it running longer and try to up the limit on both cards first.

    I want a mortgage Oct 2018, so from Oct 2017 I have to stop applying for things 'for the fun of it' because although Unsecured underwriters don't seem to care, a mortgage underwriter would!!
    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 7th Sep 16, 3:07 PM
    • 1,080 Posts
    • 553 Thanks
    A4445
    After 3 calls Cap One have merged accounts, they said it would be the end of the month but it's already done, tried quick check but it's still coming up with affordability message. I did read online that you have to wait 30 days before you can re apply. Will try again next month.
    • MysteryCredit
    • By MysteryCredit 7th Sep 16, 3:46 PM
    • 26 Posts
    • 7 Thanks
    MysteryCredit
    A4445 you must wait two months from the point of your last application. But it's advisable to wait three months.
    • A4445
    • By A4445 7th Sep 16, 3:53 PM
    • 1,080 Posts
    • 553 Thanks
    A4445
    The last application was in January, I believe you have to wait 30days after the merge before you can apply again.
    • A4445
    • By A4445 8th Sep 16, 9:39 PM
    • 1,080 Posts
    • 553 Thanks
    A4445
    I tried the quick check today I'm 100% eligible for their normal card 19.9% and 6.9% on balance transfers.
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