I know many people do not like cap one for various reason, but all of that aside... Can you have 3 cards by them? And all of them opened in a short amount of time or will this just end up in a denial?
Capital One 3 cards?
Started by
queenmum
, May 16 2012 12:56 PM
20 replies to this topic
#1
Posted 16 May 2012 - 12:56 PM
#2
Posted 16 May 2012 - 01:00 PM
when I was rebuilding it seemed cap1 will let you have as many cards as you are willing to pay for.
but that was in the dark ages, it might be different now.
but that was in the dark ages, it might be different now.
#3
Posted 16 May 2012 - 01:10 PM
I was wondering the same?? I have had a secured Cap1 for 6 months and I am going to try and clean up my report a bit, then apply for an unsecured. Just having the secured and unsecured from Credit One has helped my score out a ton, but my scores were really in the pit. I plan on getting 12 months of 2% utl and paying on time and then apply. good luck
#4
Posted 16 May 2012 - 01:11 PM
I have 3, one opened Jan 2011, another July 2011, and a third Oct 2011
#5
Posted 16 May 2012 - 01:30 PM
I also at one time had 3, so I would say that 3 cards is not a problem.
#6
Posted 16 May 2012 - 01:38 PM
I have 3...
#7
Posted 16 May 2012 - 01:41 PM
ask yourself...is adding another crap1 card a progressive move or just more of the same?
#8
Posted 16 May 2012 - 02:07 PM
ask yourself...is adding another crap1 card a progressive move or just more of the same?
For myself it would more than likely help because i can get credit through them and not many other places. I add $300 each month to my secured and should be up to $2500 in 5 months and I will apply for an unsecured at Cap1 or Orchard. I might even try one of the CU because I will be 15 months out of ch7 with a decent payment history. I do not think adding another cap1 would hurt..I could be wrong though
For myself it would more than likely help because i can get credit through them and not many other places. I add $300 each month to my secured and should be up to $2500 in 5 months and I will apply for an unsecured at Cap1 or Orchard. I might even try one of the CU because I will be 15 months out of ch7 with a decent payment history. I do not think adding another cap1 would hurt..I could be wrong though
#9
Posted 16 May 2012 - 06:09 PM
My first 2 have decent limits, 2k each. I am only a year into rebuilding and another would help with utilization. I am pretty much shunned from the prime cards for awhile now. I have not decided since it is relatively soon after getting the 2nd. I just wonder if being "pre-qualified" would end up in denial since I already had the 2.
#10
Posted 16 May 2012 - 06:13 PM
I recently applied with almost a solid year of payment history on my secured through them and 8 months of solid history with my HSBC card they bought. I was denied for having too many Cap1 accounts and no mortgage account. YMMV. They are also the source of my one PR and charge off so I imagine that hurts my chances too.
#11
Posted 16 May 2012 - 07:50 PM
does the new card have an annual fee?ask yourself...is adding another crap1 card a progressive move or just more of the same?
For myself it would more than likely help because i can get credit through them and not many other places. I add $300 each month to my secured and should be up to $2500 in 5 months and I will apply for an unsecured at Cap1 or Orchard. I might even try one of the CU because I will be 15 months out of ch7 with a decent payment history. I do not think adding another cap1 would hurt..I could be wrong though
what CUs have you tried?
For the OP who already has 2 crap1 cards, I am not sure another $500 limit will be worth three inquires and a new account that will never grow with you.
Edited by hegemony, 16 May 2012 - 07:51 PM.
#12
Posted 17 May 2012 - 10:16 AM
The fee is waived the first year for the secured Cap1. I plan on trying to get an unsecure with them or someone else and cancel before the fee comes due. I have not tried any CU as of yet but I have been reading about some friendly BK CU's, but from what I am reading most of them want you discharged a few years. I guess you are correct about a 500 CL with the original poster.
#13
Posted 17 May 2012 - 10:27 AM
My first 2 have decent limits, 2k each. I am only a year into rebuilding and another would help with utilization. I am pretty much shunned from the prime cards for awhile now. I have not decided since it is relatively soon after getting the 2nd. I just wonder if being "pre-qualified" would end up in denial since I already had the 2.
.
They due have a rule of only one product every 45 days.
#14
Posted 17 May 2012 - 03:38 PM
I have 3 1st,8/2011 2nd 10/2011 3rd 12/2011
#15
Posted 17 May 2012 - 03:51 PM
I have 3 1st,8/2011 2nd 10/2011 3rd 12/2011
And you took three hits for each one? Every two months? Twelve inquiries in 4 months from one creditor?
Just thinking about that gives me the willies.
#16
Posted 17 May 2012 - 09:36 PM
I have 3 1st,8/2011 2nd 10/2011 3rd 12/2011
And you took three hits for each one? Every two months? Twelve inquiries in 4 months from one creditor?
Just thinking about that gives me the willies.
me also, although did the CL go up with each card?
#17
Posted 18 May 2012 - 12:20 PM
The fee is waived the first year for the secured Cap1. I plan on trying to get an unsecure with them or someone else and cancel before the fee comes due. I have not tried any CU as of yet but I have been reading about some friendly BK CU's, but from what I am reading most of them want you discharged a few years. I guess you are correct about a 500 CL with the original poster.
I am the OP and both my limits are 2000. That is not too bad for rebuilding.
#18
Posted 18 May 2012 - 12:45 PM
I have 3 1st,8/2011 2nd 10/2011 3rd 12/2011
And you took three hits for each one? Every two months? Twelve inquiries in 4 months from one creditor?
Just thinking about that gives me the willies.
Yeah....was just lurking on here and had NO ideal what I was doing......sad but true.
#19
Posted 19 May 2012 - 11:24 PM
I have 2 Crap 1 cards. The first, originally opened in 2003, has never had an increase. The second opened in 2006 was a 3 step, $500, $1000, $1500 and has not seen an increase since. Never been late and utilization until recently has been around 45 - 50%.
#20
Posted 20 May 2012 - 08:14 AM
I have 3 1st,8/2011 2nd 10/2011 3rd 12/2011
And you took three hits for each one? Every two months? Twelve inquiries in 4 months from one creditor?
Just thinking about that gives me the willies.
Yeah....was just lurking on here and had NO ideal what I was doing......sad but true.
Hahaha, nor do I have any idea what I'M doing when it comes to math. Three cards times three inquiries each would be NINE inquiries, not 12.
#21
Posted 20 May 2012 - 10:46 AM
I have 3 1st,8/2011 2nd 10/2011 3rd 12/2011
And you took three hits for each one? Every two months? Twelve inquiries in 4 months from one creditor?
Just thinking about that gives me the willies.
Yeah....was just lurking on here and had NO ideal what I was doing......sad but true.
Hahaha, nor do I have any idea what I'M doing when it comes to math. Three cards times three inquiries each would be NINE inquiries, not 12.
Haha yeah if I'd learn math and finance a long time ago maybe i would be "the credit bomb" now instead of "the credit rebuilder"!!
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