Cap One Letter

Discussion in 'Credit Talk' started by Shantel, Jul 25, 2001.

  1. Shantel

    Shantel Well-Known Member

    Hi all. I've been out of pocket. I started a new job on Monday and I've been busy. No time to surf the board. Boy are you guys busy! :)

    Anyhow, a while back, I'd applied for an additional Capital One card. I didn't really WANT the card. I wanted the CL so I could combine the new one with my old one.

    Well, 2 weeks ago, the card comes in the mail - Gold, with $200CL. So I called to cancel the card. The CSR goes on the cancel AND gives me a $700 CL increase on my existing account. I cut up the old card.

    Today, I get a letter in the mail from Cap One saying that they want me to keep the account and that they were going to give me a $1500 CL. Now I'm thinking....0% APR until 9/01 AND $1500? What's a girl to do? My existing account is a MC but this new card is a Visa. Would I be able to combine the two? I have an additional $1000 CL coming on my MC along with a new gold card.

    So what do you guys think? Should I take it?

    By the way, I had 3 more inquiries on EQ and a new account and my score didn't drop. Hmmmm. Maybe I have so many now that it doesn't matter. Even though number of inquiries is my #1 reason code.

    Thanks in advance!
  2. Marie

    Marie Well-Known Member

    take it, wait 6 mos. call to cancel, get another increase. Combine the cards (yes you can combine visa and mc). Take the best terms on the combination.

    close 1 account. wait 2 mos. apply for another card. repeat. It works. You'll end up eventually w/2 Plat. cards. I did that in 2 years.
  3. NanaC

    NanaC Well-Known Member

    HOw did you apply for a second card?
  4. Shantel

    Shantel Well-Known Member

    Hey Nana....

    I just went to their website and applied again. Go figure.

    Okay, I'll take the deal....BUT they gotta send a new card...I destroyed the first one...trying to be a good girl!

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