22 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.

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. 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.
  4. 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).
  5. Capital One does not match higher sign up bonuses. So make sure you’re applying for the best offer.
  6. You can request a credit limit increase with Capital One online, once every six months. It’s a soft pull as well.
  7. 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. (Update: Seems to be a soft pull)
  8. 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.
  9. 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.
  10. 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.
  11. 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.
  12. They do have a referral program. This was added in 2019
  13. 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. You can also check for potential product changes here.
  14. Minimum spending requirements start as soon as the card is approved.
  15. They will refund the annual fee if the card is cancelled within 30 days of the annual fee posting.
  16. Capital One doesn’t really offer retention bonuses, but they’ll usually waive the annual fee on your cards.
  17. 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.
  18. You won’t usually be able to reinstate a Capital One credit card which you closed voluntarily if you later change your mind.
  19. You cannot check your credit card application status online, instead you must call (800) 903-9177.
  20. Capital One will always proceed to do the auto-pay for the full statement balance, even if you make payments beforehand.
  21. It is possible to get an instant credit card number by downloading the app.
  22. 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):

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zrzhu
zrzhu

I just recently open CapitalOne Quicksilver card. I found a new way to use Capitalone card before you receive the physical card. In the app, you are able to connect Capone credit card with Paypal. Once you connect the credit card with Paypal, you can set up Paypal Key to use CapitialOne credit card. William Charles Chuck

Chuck
Jase
Jase

Does a Walmart Capital One count as a cobranded card? So I could have the quicksilver, savor, and Walmart capital one card?

amom
amom

What about updating that Cap One Biz Sparks will no longer be reported to your personal CR?

AA
AA

Interesting data point: apparently, you cannot product change into a Savor card.

But then again, there are lots of inconsistencies in their product change options.

Details:

While talking to Capital One today to downgrade my Savor card, I was told I would not be able to change back to the Savor card later. I asked some details and was told that they don’t allow product changes into the Savor card at all.

I do believe you can product change into the Savor One, though, because just a few days ago, while checking P2’s product change options, Savor One was listed.

***
My report above differs from the comment by @petitesybarite on 8/14/2018, saying that they were offered a product change to Savor:
https://www.doctorofcredit.com/capital-one-savor-and-savorone-card-review-500-signup-bonus-and-4-dining-entertainment-category/#comment-629333

A more recent comment by @Ace14 on 9/12/2019 says that downgrades to Savor or Savor One are not possible.
https://www.doctorofcredit.com/capital-one-savor-and-savorone-card-review-500-signup-bonus-and-4-dining-entertainment-category/#comment-809351

But then again, as I mentioned above, I saw a Savor One downgrade option just a few days ago.

I’m assuming that Capital One has either been changing their policies, or I was given wrong information.

Capital One is mysterious and inconsistent about their product changes in general, so I am not surprised about any of this.

dusty
dusty

point number 12 is not true. $100 referral bonus for the savor card

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[…] decided to check out Doctor of Credit’s resource page titled, “22 Things Everybody Should Know About Capital One Credit Cards“. Through that resource, I found some specific data points indicating that it is indeed […]

Danno
Danno

Just an interesting thing that happened to me, curious if anyone has had anything similar. I have been using the Buypower card to fund bank accounts and also for some day-to-day spending and I recently went to make a large payment (relatively new account, close to limit) and they restricted the account asking for Proof of Payment? The payment already went through both with C1 and my other bank checking account. Now they’re saying that they need a statement from the other bank to prove that the payment…occurred? Very strange considering that the payment already happened. I tried to give them a screenshot of the payment but they’re saying that it HAS to be the statement, which sucks because the payment was on the 2nd. Anyway, just something odd that I am dealing with currently and was wondering if anyone has had this specific issue before.

TuvDog
TuvDog

I called -1 month before 1-yr promotion ends. Asked to either waive fee for Savor OR product change.
CS told me to call back +1 day after promotion ends because he can’t waive fee before that.
I listened to CS and called +1 day after promotion ends.
CS didn’t waive fee for Savor. CS refused to refund even after I change to a free product. The only way to get the AF back is to close the account.
=> They stalled me so they can lock me in the AF without the ability to get pro-rated refund. They won’t product change. Beware.

Angela
Angela

This just happened to me too! Would not waive the annual fee of the Savor Card. They offered me a product change to a no fee card, however still would not refund my annual fee. Very odd.

1010
1010

Not able to get them wave the fee. Did they change rules?

YoniPDX

Question AF I Venture rewards hits I think next month (issued last December) will they PC non-AF or waive AF DW has used it for organic spend this year (after 75K SUB now at 100K) do you have to PC before AF or is it like AmEx or JPMC?

Thanks