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  • FIRST POST
    • Somerset La La La
    • By Somerset La La La 3rd Sep 16, 11:12 AM
    • 579Posts
    • 179Thanks
    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!
Page 7
    • Samsung_Note2
    • By Samsung_Note2 9th Apr 18, 9:28 PM
    • 526 Posts
    • 200 Thanks
    Samsung_Note2
    But lenders cannot see your !!!8220;score!!!8221;.
    Only you logging into your account with the CRA can see it.

    They have their own internal scoring system which is completely different to the one used by the CRA!!!8217;s.

    Bankrupt people get a score of 999 following bankruptcy - how is that a good judgement on ones ability to manage money?
    Originally posted by Gary_Dexter

    See that's odd as im an ex bankrupt and my score was nearly none existent...its slowly improved inline with my credit file improving.

    Credit companies internal scoring might differ than that of a CRA but where does the information come from...Yes the CRA.

    Fact is the score is there as an indication...every CRA ive looked at my score has gone up or down inline with my credit report.
    If my appalling spelling offends you that much...dont read my posts.
    • Gary_Dexter
    • By Gary_Dexter 10th Apr 18, 10:40 AM
    • 1,784 Posts
    • 1,022 Thanks
    Gary_Dexter
    Yes - the history comes from the CRA. Not the score.

    Why would your score go down when opening an account? Or closing an account?

    It makes no sense and shouldn't be used
    • Samsung_Note2
    • By Samsung_Note2 11th Apr 18, 5:07 PM
    • 526 Posts
    • 200 Thanks
    Samsung_Note2
    Yes - the history comes from the CRA. Not the score.

    Why would your score go down when opening an account? Or closing an account?

    It makes no sense and shouldn't be used
    Originally posted by Gary_Dexter
    My children seem to have a better grasp of this...its an indication of your credit file.
    If my appalling spelling offends you that much...dont read my posts.
    • Gary_Dexter
    • By Gary_Dexter 11th Apr 18, 10:30 PM
    • 1,784 Posts
    • 1,022 Thanks
    Gary_Dexter
    Its really not.

    But ho hum
    • Superhoop91
    • By Superhoop91 16th Apr 18, 6:41 PM
    • 81 Posts
    • 15 Thanks
    Superhoop91
    Hi so I have. Cap 1 card with the limit going up to £1000 in a few days. I've been approved (by failing a fraud check) for an Aqua card but the interest rate is really high on it. I only want to use extra credit on top of what I currently have for the next 3 months so am I best sticking to taking the Aqua card and paying it as soon as I can or doing another hard search for a second Cap 1 card.

    Then if I take Cap 1, should I move the credit limit all onto one card or use them both together? What if say I get a few months 0% purchase on the Cap 1 new card, should I keep them both then. I've seen here one card is better and even better to keep your card you've had the longest as it makes it look like that card increased in credit limit even though you're just adding it on to another limit. I've been pre approved for all the Cap 1 cards except the balance transfer one so should get a second card but would imagine the limit would be low if I am getting a credit increase in a few days anyway. Thanks for any help you guys can offer.
    • Gary_Dexter
    • By Gary_Dexter 16th Apr 18, 9:07 PM
    • 1,784 Posts
    • 1,022 Thanks
    Gary_Dexter
    Keep both aqua and capital one cards.

    Use them both for normal purchases and pay off in full each month - that way you avoid the interest.

    If you've been accepted for the cards already then I'm assuming you've signed an agreement already?
    • Samsung_Note2
    • By Samsung_Note2 16th Apr 18, 10:31 PM
    • 526 Posts
    • 200 Thanks
    Samsung_Note2
    Hi so I have. Cap 1 card with the limit going up to £1000 in a few days. I've been approved (by failing a fraud check) for an Aqua card but the interest rate is really high on it. I only want to use extra credit on top of what I currently have for the next 3 months so am I best sticking to taking the Aqua card and paying it as soon as I can or doing another hard search for a second Cap 1 card.

    Then if I take Cap 1, should I move the credit limit all onto one card or use them both together? What if say I get a few months 0% purchase on the Cap 1 new card, should I keep them both then. I've seen here one card is better and even better to keep your card you've had the longest as it makes it look like that card increased in credit limit even though you're just adding it on to another limit. I've been pre approved for all the Cap 1 cards except the balance transfer one so should get a second card but would imagine the limit would be low if I am getting a credit increase in a few days anyway. Thanks for any help you guys can offer.
    Originally posted by Superhoop91
    Just be aware that being pre-approved and then passing a hard search doesnt mean you will be given the card.

    I passed both and was then declined..despite having an account and being pre-approved and passing credit search...go figure..
    If my appalling spelling offends you that much...dont read my posts.
    • Superhoop91
    • By Superhoop91 17th Apr 18, 10:13 AM
    • 81 Posts
    • 15 Thanks
    Superhoop91
    Gary_Dexter

    I've got a pre contract through the post for Aqua and been told I just need to provide proof of ID. Does this mean it's not guaranteed I'll be getting it.

    As mentioned previously I'll need to use the additional credit for the next 3 months and then can begin paying them off (clearing higher interest rate pay day loans). Should I still get an Aqua card and try for another cap 1 card?

    Thanks
    • Gary_Dexter
    • By Gary_Dexter 17th Apr 18, 10:26 AM
    • 1,784 Posts
    • 1,022 Thanks
    Gary_Dexter
    So you have other debts elsewhere at the moment as well?
    • Superhoop91
    • By Superhoop91 17th Apr 18, 1:52 PM
    • 81 Posts
    • 15 Thanks
    Superhoop91
    Yes, that's what I'm trying to get a card for to reduce the debt. I've reduced it already some what by being smart with money and borrowing from friends at 0% APR. Want to clear more now without paying as high interest if possible. What would you recommend?
    • Gary_Dexter
    • By Gary_Dexter 17th Apr 18, 2:14 PM
    • 1,784 Posts
    • 1,022 Thanks
    Gary_Dexter
    Yes, that's what I'm trying to get a card for to reduce the debt. I've reduced it already some what by being smart with money and borrowing from friends at 0% APR. Want to clear more now without paying as high interest if possible. What would you recommend?
    Originally posted by Superhoop91
    You're reducing debt by getting a credit card that can put you in... debt?

    What do you owe and where?
    • Superhoop91
    • By Superhoop91 18th Apr 18, 1:52 PM
    • 81 Posts
    • 15 Thanks
    Superhoop91
    I have payday loans I'm trying to clear with credit cards as the interest on payday loans is of course far greater. Then I'll look to have the credit cards clear in a few months.
    • Gary_Dexter
    • By Gary_Dexter 18th Apr 18, 5:04 PM
    • 1,784 Posts
    • 1,022 Thanks
    Gary_Dexter
    Pay Day loans will make your application for further credit increasingly difficult.

    How much is owing in total?
    • Superhoop91
    • By Superhoop91 21st Apr 18, 8:46 AM
    • 81 Posts
    • 15 Thanks
    Superhoop91
    About £2,500 to payday loans, 2k overdraft and 2k to mates. 800 to Cap 1

    I guess now I have the aqua card pre approval and the hard search I should carry on with this application or should I still look to get the cap 1 card with half the interest rate of aqua but another credit search.
    • Gary_Dexter
    • By Gary_Dexter 21st Apr 18, 8:52 AM
    • 1,784 Posts
    • 1,022 Thanks
    Gary_Dexter
    It depends on what purpose you need another card for when you're already over £7k in debt
    • Superhoop91
    • By Superhoop91 21st Apr 18, 10:31 AM
    • 81 Posts
    • 15 Thanks
    Superhoop91
    As I said, I'd use it for monthly spending so I can allocate more of my money in my bank account to paying the payday loans on far higher interest rates than the credit cards would charge.

    Again going back to my question, do I take the card I've been offered at 54.9% or do another search for one I've been pre approved for at 29.9% even if it means another credit search on me. I'm trying to clear the payday loans as quickly as possible.
    • A4445
    • By A4445 21st Apr 18, 11:16 AM
    • 792 Posts
    • 360 Thanks
    A4445
    I donít see why you can have both? If itís pre approved then itís not a waste of a hard search. You wonít know what the credit limit will be on the pre approved card, it may not be enough to clear your loans. Iíd put as much on the lower rate card as possible and then use the higher rate card.
    • Superhoop91
    • By Superhoop91 21st Apr 18, 12:26 PM
    • 81 Posts
    • 15 Thanks
    Superhoop91
    A4445

    It's pre approved on the eligiblity checker, only then do they do a hard search after anyway. Your suggestion is I get both cards (so 3 in total)?
    • Gary_Dexter
    • By Gary_Dexter 21st Apr 18, 12:45 PM
    • 1,784 Posts
    • 1,022 Thanks
    Gary_Dexter
    So you're not going to be paying the new card/s off in full each month?
    • Superhoop91
    • By Superhoop91 21st Apr 18, 1:45 PM
    • 81 Posts
    • 15 Thanks
    Superhoop91
    No Gary, I've said this a few times.
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