Capital One is very different than most credit card issuers. You are limited to one new card every six months, Capital One pulls credit reports from all three credit bureaus, and it is hard for people with stellar credit to get approved for their premium cards.
Capital One Application Rules
Capital One has several credit card application rules that you need to know before applying for any of their cards.
Maximum of Two Personal Cards
You are limited to two personal Capital One credit cards. But business cards and co-branded cards such as the Walmart or Bass Pro Shops card do not count towards this two-card limit.
One Approval Every Six Months
Capital One will not approve you for more than one card every six months. This limit applies to both personal and business credit cards.
Sign Up Bonus Eligibility
Your eligiblity for a second sign-up bonus on the same Capital One card will vary by credit card and offer.
The sign-up bonus for the Venture Rewards card is only once per lifetime.
You can generally get a second bonus on other Capital One cards if approved, but Capital One includes vague language that indicates they may deny you for a second bonus at their discretion:
- “The bonus may not be available for existing or previous account holders.”
You can check your pre-qualified offers online by entering your name, birth date, address, email, and social security number.
But the pre-qualified offers only applies to the Capital One QuicksilverOne, Platinum and Secured Mastercard.
Capital One Application Tips
Below are several application tips you need to know before you apply for any Capital One credit card.
Low Approval Odds for Premium Cards
Capital One is very conservative when approving applicants for their premium credit cards such as the Venture Rewards card, but fairly easy to get approval for their student or secured cards.
There is no exact formula for approvals for these premium cards because Capital One will routinely deny people with 800+ credit scores while approving people with 700-750 credit scores.
If you want to boost your chances, have a low number of new accounts, a low number of credit inquiries, and a good prior relationship with Capital One.
Three Credit Hard Pulls
Capital One is the only credit card issuer that pulls all three of your credit reports (Experian, TransUnion, and Equifax).
This is why many people stay away from Capital One because a denied credit card application can really sting since you had three hard inquiries for no gain.
Prior Relationship with Capital One
No Reconsideration of Application
You can call many credit card issuers and request reconsideration of your application, but Capital One rarely ever will reverse a credit decision and may require additional hard pulls of you credit to reconsideration an application.