Posted by William Charles on February 9, 2016
Credit Cards

Published on February 9th, 2016 | by William Charles

67

24 Things Everybody Should Know About Capital One Credit Cards

Capital One isn’t the most popular credit card issuer (due to #1 on this list) but sometimes they offer big sign up bonuses so they are still worth considering (especially when you combine #2 and #3 for multiple cards with frozen reports). Here are some things everybody should know about Capital One credit cards.

Contents

The List

  1. Capital One pulls your credit report from all three credit bureaus. This matters because new applications on your credit report affect your FICO score, other issues will usually only pull from one of the three bureaus meaning you get a chance to spread those new inquiries out.
  2. Capital One will still approve you if you have one credit report frozen. This goes back to the point we made above, but basically you can freeze either your TransUnion or Experian credit reports and still get approved. Freezing Equifax doesn’t look like it’ll work.
  3. Capital One will merge multiple inquiries if you apply for multiple credit cards in the same day. Just keep in mind that they’ll still pull from all three credit bureaus.
  4. You can get the sign up bonus on Capital One cards more than once. As long as you’re approved, you should get the bonus. There doesn’t seem to be any minimum waiting period.
  5. Capital One has limits when it comes to how many cards you can have with them. Maximum of two personal cards, but only Capital One branded cards (e.g not co-branded cards like the Sony card) count. Cards that have been product changed due to other cards being discontinued do not count either (even if they are Capital One branded cards).
  6. Capital One does not match higher sign up bonuses. So make sure you’re applying for the best offer.
  7. You can request a credit limit increase with Capital One online, once every six months. It’s a soft pull as well.
  8. They also allow you to do credit limit reallocations online. Unfortunately we still do not know if it’s a hard or soft pull, both cards need to have been opened for at least six months.
  9. You can view what cards you’re pre-approved for online. Although I haven’t seen anybody saying they were offered a higher than publicly available bonus using this.
  10. Capital One doesn’t really have a reconsideration department if you’re denied for one of their credit cards. You need to receive an official e-mail from them with the status of your application you can then try calling one of the many numbers available for them. If you’re new to reconsideration calls, we recommend reading this first.
  11. They do not expedite new cards. If an existing card is lost or stolen, they might expedite a card but you’ll need to kick up a fuss and sometimes even pay a fee.
  12. Capital One will report your statement balance as your credit used to the credit reporting agencies. So if you want to lower your credit utilization, pay your card off before your statement closes.
  13. They do not have a referral program. Unfortunately you can’t refer friends to Capital One cards & get rewarded for doing so.
  14. They do allow product changes between different cards. But they have a weird set of rules that we don’t understand, sometimes they’ll process the request and sometimes they deny it. Either way, there is no hard pull.
  15. Minimum spending requirements start as soon as the card is approved.
  16. They will refund the annual fee if the card is cancelled within 30 days of the annual fee posting.
  17. If you apply for an authorized user card, they will also receive a hard pull on all three of their credit reports. Thanks to reader Tim for this data point.
  18. Capital One doesn’t really offer retention bonuses, but they’ll usually waive the annual fee on your cards.
  19. Capital One business credit cards DO get reported to the personal credit bureaus. Keep this is mind as these cards will show up on your credit report.
  20. You won’t usually be able to reinstate a Capital One credit card which you closed voluntarily if you later change your mind.
  21. You cannot check your credit card application status online, instead you must call (800) 903-9177.
  22. Capital One will always proceed to do the auto-pay for the full statement balance, even if you make payments beforehand.
  23. It is possible to get an instant credit card number by downloading the app.
  24. You’re limited to one Capital One card per six months.

Things We Aren’t Sure About

  • Currently there isn’t anything we are unsure about, we will update this section if there is.

Final Thoughts

Hopefully, you learned something new, we’ve done a similar thing for the majority of the other credit card issuers. I’d recommend reading those posts (linked below):



67 Responses to 24 Things Everybody Should Know About Capital One Credit Cards

  1. Tim says:

    My wife applied for two Capital One cards that were targeted to her. I was listed as an authorized user on both cards. There was a hard pull done on my credit report even though I didn’t apply for them.

    • Wei says:

      That’s horrible, thanks for your data point.

    • Evan says:

      Did you dispute it with the bureaus?

      • Tim says:

        No I did not dispute it. From the research I did online the bureaus are allowed to report authorized users in their files. Even though the accounts are not in my name, I now have two additional accounts in my credit report! They are at 50% usage and are negatively affecting my score!

        • Jon says:

          Is it possible that you’re really a co-borrower on the account? An AU doesn’t get a credit check because they have no obligation to repay. In fact, if someone makes you an AU and you don’t want the account on your credit report, you can just dispute it with the CRAs.

          • Tim says:

            My mistake. There was not a check, or hard pull. However, if you are an authorized user on someone else’s account, their account will be listed with your other accounts in your credit report. This will impact your credit score either positively or negatively, depending on how the account is used.

      • anthonyjh21 says:

        So is it true that AU get hard pulled or not? Tim followed up almost a month after your response here with the post just above yours claiming it was his mistake. If so, I’d think the post should be updated/#17 removed.

  2. chuck says:

    I was able to get my annual fee on the Spark Card waived when I mentioned that the there was no annual fee on the Citi Double Cash Mastercard, an otherwise identical card in almost every way.

  3. Drew R says:

    5) Capital One has limits when it comes to how many cards you can have with them. Maximum of two personal cards, but only Capital One branded cards

    Is this a recent rule? I’ve had three active CapOne branded cards for around two and a half years now – Platinum, VentureOne, and Quicksilver. Maybe only for CapOne branded rewards cards?

  4. Elliot says:

    Does anyone have any first-hand experience (or can mention others’ data) about churning the Venture and VentureOne sign-up bonuses? I know DoC is saying there’s no wait period, but I’d love to hear actual reports.

  5. Mark says:

    Capital one will generally waive the annual fee the next year if you ask, though they’ll first try to get you to downgrade

    I too have three cards: quicksilver, venture one, and venture.

    Does anyone know if I can get a signup bonus for the venture again if I already have another venture?

  6. Secretary Toaster says:

    Re: (3) — This is NOT always the case. They only merge if you receive instant approval on both. The alternative is that one gets approved instantly and the other goes to pending. In that case, you’ll get a total of 6 hard inquiries spread out over 2 days and all 3 bureaus 🙁

  7. Dukie02 says:

    I have both a Venture and a QuickSilver. I don’t really use the QuickSilver (other than the ongoing 30% off Uber promo), but the Venture is one of my go-to cards. I’ve noticed that the CapOne site has shown for months that I’m pre-qualified for the Venture and Venture One cards. I’ve been tempted to see if I could get the Venture bonus again, but never pulled the trigger. Any idea if the pre-q offers from banks take into account what we already hold? Or is it just a formula based off their latest FICO pulls?

  8. korrinda says:

    CapOne shut me down for churning Visa Buxx cards and it looks like they blacklisted me.
    They keep sending me preapproval offers, they even approved a new card, but closed it within few days.
    Any idea how to long this blacklist will last?

  9. Mark says:

    They take credit cards over the phone.

  10. Yasir says:

    After how long of account opening can request a product change? I got their platinum MC as my first unsecure card, with 300$ CL 3months back ,assuming wont be approved for quicksilver but seeing reviews I might have been.
    Got approved for Discover IT card after that and have BofA Partially secured Cashback rewards card also.
    Should i wait for them to increase CL via steps (I barely use this card) or ask before that?

    • Doesn’t hurt to ask earlier.

      • Yasir says:

        Hi
        So I 1st requested CLI via the automated system online and got 500 increase to total of 800$.
        Have not even put 100$ on this card in three months.
        Then today on chat asked rep if i can get rewards added on. And he immediatedly replied that have QS with no AF in my offers. Needless to say i accepted.
        Both of these were soft pulls.
        Thanks for your site. Really helpful

  11. brteacher says:

    Do Capital One business cards show up on personal credit reports? I seem to remember that they do.

  12. CJ says:

    I have 3 personal cards: World Mastercard (since ’12), Quicksilver (’13), and Venture (’15). I don’t think any of them have ever had a product change

    • dan says:

      for the venture card, anyone knows that some regular purchases are needed first before they approve 1 large transaction for $3k-4k? saw on FT that the spark biz card got declined for a large purchase even calls had been made in advance for a notation

  13. Chris says:

    “If you apply for an authorized user card, they will also receive a hard pull on all three of their credit reports.”
    – So you can mess with somebody simply by asking to add them on your cap1 card? Do they ask/include an SSN?

    …On that note, does getting an AU on Capital One cards HELP the person being added, Credit Score wise if you have say an 800 rating? Or does the hard pull x3 nullify that benefit?

    • Jeff says:

      My mother put me as an AU on her Chase card and I immediately started seeing an increase in my credit score. I had no cards or credit line of my own at the time.

  14. Aloe says:

    Anyone have any thoughts on how to have the discussion about lowering your APR? I’ve spoken with them several times and talked to a district manager who claims she wasn’t allowed to see my information to reevaluate me. Have scores between 750-760 with a 23.29% APR rate. Had the card since July 2014.

    • David says:

      Getting an APR reduction is difficult. The best I’ve been able to do is get a promotional reduction of 4% for seven months at a time and sometimes even that’s not available.

      Giving advice that I don’t follow myself is something I like to do so I’ll suggest you contact the executive office and try working them. They’ve been known to get things done in stubborn situations. I haven’t done it for my APR which is too high also but I did get the EO to double my CL from 10K to 20K after a series of denials for bogus reasons. One reason I haven’t gone to them yet is during the seven years I’ve had the card, I haven’t paid a penny of interest so this is more a matter of principle rather than dollars for me. It is my APR though and I would like to see it chopped down.

      No one with your score should have to pay 23.29% unless there’s something else going reflected in their records but not on the reports (a late less than 30 days or making only minimum payments, etc.)

  15. Pingback: [Targeted] Capital One Spark Cash $750 bonus offer

  16. Pingback: Capital One Tightens their Credit Card Churning Rules - Doctor Of Credit

  17. payyoutuesday says:

    The annual fee for both my Venture and my wife’s Venture card posted yesterday. My experience was not the same as some posted above:

    Are there any retention offers on my account? No. Will you waive the annual fee? No, but you can change the account to the Venture One card. I would rather have the no-annual-fee Quicksilver Card. OK. So this means that I don’t have to pay the annual fee that has already posted to my account, right? No, you still have to pay the fee. So the only way to not pay the annual fee is to cancel the card? Yes, if you cancel the card the $59 annual fee will be refunded in 3-5 days. Please cancel my account.

    My wife’s experience was identical.

  18. Dana Cook says:

    Capital One has frozen my card after I made a payment and called to request a pin. I never do cash advances but I am on vacation and ran into a problem. The guy who first helped me asked me to “guess” what I might have used as a pin if I had created one. I kept telling him I hadn’t but gave him 2 options anyway. He told me how much I could take out per day and what my pin was going to be. He then put me on hold for a while. He came back and said my account had been flagged for fraud. Then it had been frozen. I would need to email them my driver’s license, social security card, and a utility bill or bank statement to unfreeze it. Who travels with their Social Security card? Who travels with their bank statement or a utility bill? So now I am stuck in Florida, there’s a possible hurricane coming and I won’t have shelter. Thanks Capital One!

  19. DH7 says:

    Not sure if this data point is useful, but I applied for a Capital One QuickSilver and Spark on the same day and after being approved for the Quicksilver and denied the Spark they sent a letter an email link to a letter with an explanation. The reason given was

    “Based on your application information, there is a currently pending or recently processed application with Capital One”

    I thought it might be different since one was personal and the other business but I guess not.

  20. Pingback: Credit Card Reference Pages - Doctor Of Credit

  21. Pingback: Do Capital One Credit Cards Have Pin Numbers | New Credit Card

  22. Nicholas says:

    FUN FACT: If you file a dispute with Experian explaining that your Spark card is a business account and should not appear on your personal credit report (an option that is clearly provided on their dispute form), CapOne will automatically assume your account was fraudulently applied for and immediately close your account pending review. They will reopen (with a new number and new cards) upon submission of a notarized affidavit signed saying that you are personally responsible for the account. In the meantime, either CapOne or Visa will also send out letters to your vendors notifying them of potential fraudulent activity and demanding copies of charge receipts.

  23. Len says:

    Hi, I noticed you said Capital One pulls all 3 credit bureaus. :Last week, I applied using their pre-approval offer and got approved. They pull Transunion only not the other two. I believe because before applying I sign up for their Cap One “Creditwise” free credit help similar to Krama. Guess, which credit bureau Creditwise pulls from to give your score and report. You guess it “Transunion. Maybe, it had nothing to do with signing up, but it cannot hurt to make use of their free tools on their credit help site.

    Thanks,

  24. Craig says:

    I just had the following chat with Capital One. Interesting info (granted from a chat CSR)…

    You01:26 PM
    I have had the Venture card in the past, though that account is now closed. Would I be eligible for the promotional off that comes with approval of that card (40,000 miles)?
    Celine01:26 PM
    Every new account that meets our minimum early spend bonus requirement and credit approval will be eligible for the one-time bonus.
    Celine01:27 PM
    If you have not opened this credit card in the past two years, you are eligible for the one-time bonus.
    Celine01:27 PM
    If you’ve opened two or more of these credit cards in the past two years, you may be subject to additional review.

  25. Meer says:

    That’s usual for Capital one for pulling up 3B credit report for even authorized user. But it is done only when you add the authorized user while submitting the application. But they don’t do it if you add the authorized user upon receiving the card for principal applicant. It can be done either you call the capital one or log in to the online account and add authorized user. My brother applied for Capital one Venture adding his wife at the time of application. Both of their credit got hard pulls on all 3. But I added my wife later on. Her credit wasn’t pulled. Amaizingly her SSN # wasn’t being asked either. All I needed is her full name and DOB. I hope this information helps, those who is looking to add an authorized user.

  26. Lia_b says:

    I have my student daughter as an authorized user on my Capital One account. When she applied for her own card, she was immediately denied by Capital One. It turns out the current debt on my card is showing up as her own debt and hurting her credit score. This should not be as she is an authorized user. She uses this card only for emergencies.

    Capital One says that they cannot help what the credit bureaus report. Has anyone else run into this and how can it be fixed besides taking her off as an authorized user.

    • z-nut says:

      My understanding is that as an authorized user, she is not liable for your debts, etc. That being said, they are still reported to the credit bureaus under both of your names. She has grounds to file and win a dispute over whatever negative marks are on her account that have occurred because she was an authorized user.

  27. Curt says:

    Had a Capital One card for three years. Went from a $300 credit limit to $4800 over that time frame. Nearly maxed out my card at $4700. Went to make a payment online using different checking account than I normally pay. I accidently entered wrong number for the account. Five days later noticed my payment had not been taken out. So I called them. Lady I spoke to applauded me for catching it and helped me fix it. I made my payment again and this time it went through obviously. I then went to check my account two days after I made my payment to A. Check my free credit score and B. Make sure the payment went through. When I went to do this it show my account balance 0 but my account closed. So I called them. They said closed by the fraud department and they cannot reopen it. I explained it was my fault when I went to make my payment online I entered the wrong numbers. What I did was enter my routing number from my check correctly but when I put in my bank account number I also entered the check number at the end of it by mistake. Was with them for three years with never a late payment and they close my account for one mistake. I am shocked and at the same time kind of hurt by it. Been working hard to improve my credit over the years and I thought it was working until now but what they did feels like betrayal to me honestly. I make one typo and they dump me for it. But not until after they let me fix it on my own and pay off my balance.

    • MP says:

      Capital One is a pretty crappy bank, short of no transaction fees abroad. Before the days of cash back, miles, etc. I used to use their card exclusively, just for convenience, no other reason. Then I got married and wanted both my then-husband and I to use it, again just for convenience and keeping charges in one place. However, the limit wasn’t high enough, so I asked them to raise it. They didn’t. I stopped using the card. Simple.

      I also had (and still kinda have) a Capital One savings account. As you know, for many years savings accounts haven’t been paying anything. CO was paying a tiny bit more than nothing; that’s why the money was there. Fairly recently I discovered there are somewhat better rates. At the same time I also discovered that CO has been paying 2 to 3 times higher rates on CO 360 accounts. Did they convert my account to that? No. Did they offer anything like that to me? No. Granted, CO 360 used to be ING Direct, but they’ve been under the umbrella of CO for years. So, I pulled pretty much all money out of CO. Now, all of a sudden, I started hearing from them. I even got a pretty letter, on pretty paper, saying that if I have savings accounts with banks paying nothing, I should open a CO 360 account! Really, CO?! All of a sudden I got your attention, huh?! Now that all the money’s out! How come you never offered it to me when it was sitting in the regular CO account?!

  28. Jd says:

    Not sure if it’s possible to apply for more than one card per day, thus nullifying the option to merge multiple inquires per #3 above.

    I currently have zero cap one cards.

    On the same day:

    I applied for spark miles as a sole proprietor using ssn and automatically approved.

    I applied for spark cash and was auto denied.

    I applied for venture one and was auto denied.

    I got letters for the spark cash and venture one and the denial reason was “Based on your application information, there is a currently pending or recently processed application with Capital One”

  29. Tiffany says:

    I added my fiancé as an AU on my capital one card but they restricted my card and are not requesting additional information from my fiancé and myself such as copy of ID and social security cards. Is this normal?

  30. Austin says:

    DP in response to your “we’re not sure” section:

    At least for business cards, CapOne DOES give an instant card number.

    I just got the Spark Cash, and after instant approval I was prompted to download the Capital One Wallet app (not the normal Cap One app). In this app you can sign in and view your card number, expiration, etc. instantly.

    I assume this works for personal cards, too, as there’s an “Other Cards” section in the app. Unfortunately I don’t have any personal cards with the bank so I can’t confirm.

    Also – the info about the new 1/6 rule is not included on this list, so that should be added.

    Thanks DoC!

  31. Trippy says:

    Just got upgraded to Quicksilver from the student (Journey) card, 4 month after opening. The CL is still $300 (lol)

    Regarding AU, I had earlier called up and added my sister and they didn’t ask for anything.

  32. Josh Carter says:

    Hello,

    I noticed that if you apply for more than one credit card the same day they will merge the inquiries. I have also heard that you can only apply for one credit card every six months. What is the updated info? If I apply for more than one personal cards on the same day, will they only check my credit once? Will it be two/three separate checks? Or will I have to wait every six months to apply?

    Thanks for the info!

    • Chuck says:

      It used to be possible to apply for multiple cards. Last I heard, it’s once per six months, but not a lot of people I hear about apply for Capital One so we are working on limited data points.

      Given the 6 month wait, you are correct that the merging thing doesn’t help us in practice.

      • anthonyjh21 says:

        Is it 6 months between ANY applications or is it only for approvals? If you are approved in Month #1, apply in Month #3 and declined, can you then apply again in Month #7 and be outside of this 1/6 rule?

  33. Andrey says:

    Interesting point: I currently have two cards with Capital One and their online check tool shows I am prequalified for another card. I didn’t apply because of 5)
    Anyone seen this before?

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top ↑