Accidentally approved for same card twice

For just about anything you want to get off your chest about credit cards.
17 posts
LessIsMore
Gold Member
Gold Member
 
Posts: 44
Joined: Sat Feb 21, 2015 5:59 pm
Location: Vader, WA

Postby LessIsMore » Fri Mar 06, 2015 6:24 pm

If I was in your shoes and I received two CapOne cards in the mail, I'd keep both - using them alternately, one month to the next, but always paying off each card's balance when due. But, I'm no credit expert (yet, hehe). I've just been around the block for a while.

I had something similar happen to me MANY years ago (pre-Internet) when the only way to apply was by mail or over the phone. I applied for a CitiBank VISA by mail. I got one notice back in the mail saying it was approved. And a week later, I received it in the mail. Then, about two days later, I received a 2nd CitiBank VISA card ... same CL, different number. I called them up to tell them about the 2nd VISA card. And the lady on the phone said it was my choice - to either cancel the 2nd account or accept both cards. I chose the latter (grin). It seemed like the appropriate thing to do at the time. They told me they'd only done one hard-pull. I believed them since, back then, the only "free" way I knew of to get a credit report was requesting one after I'd been "denied" credit.
"People with a clever plan can assume the role of the mighty."
Paul Kantner


User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3753
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Fri Mar 06, 2015 7:10 pm

LessIsMore wrote:If I was in your shoes and I received two CapOne cards in the mail, I'd keep both.


You'd really want to pay two $59 annual fees each year for two CapOne cards? If someone's spending so much that he or she actually needs two big credit limits, then an Amex PRG would probably be a better value - it has only a moderately higher fee ($175, soon to be $195 vs. $118) with much better perks.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

LessIsMore
Gold Member
Gold Member
 
Posts: 44
Joined: Sat Feb 21, 2015 5:59 pm
Location: Vader, WA

Postby LessIsMore » Sun Mar 08, 2015 8:44 am

CarefulBuilder14 wrote:You'd really want to pay two $59 annual fees each year for two CapOne cards?


The original poster said nothing about an annual fee on the card. My CapOne MasterCard has no annual fee now nor an annual fee after the 1st year.
"People with a clever plan can assume the role of the mighty."
Paul Kantner

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3753
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Sun Mar 08, 2015 10:56 am

LessIsMore wrote:The original poster said nothing about an annual fee on the card. My CapOne MasterCard has no annual fee now nor an annual fee after the 1st year.


The OP (who has since vanished) said it was a Venture, and the Venture has a $59 AF after the first year, according to the CO website.

I don't expect CO would waive the fee in future years, or even waive it for the first year on the second card.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

LessIsMore
Gold Member
Gold Member
 
Posts: 44
Joined: Sat Feb 21, 2015 5:59 pm
Location: Vader, WA

Postby LessIsMore » Sun Mar 08, 2015 4:12 pm

CarefulBuilder14 wrote:The OP (who has since vanished) said it was a Venture, and the Venture has a $59 AF after the first year, according to the CO website.

I don't expect CO would waive the fee in future years, or even waive it for the first year on the second card.


Good catch. I made the incorrect assumption that if there was an AF, the OP would have mentioned it. Every person's needs are different. And while a card can have an AF, the value of the card can outweigh the AF. In my situation, I've just never applied for a card with an AF.

Of course, in his case, since he "wanted" the Venture card, he could ask CapOne if they'd consider making the 2nd card a VentureOne Rewards card with no AF (or a no-AF Quicksilver card) - if it suited his situation. To me, it would be a shame to waste an approval. But, that's just me.
"People with a clever plan can assume the role of the mighty."
Paul Kantner

Gamma
Centurion Member
Centurion Member
 
Posts: 464
Joined: Sat Sep 15, 2012 1:15 am
Location: Los Angeles, CA

Postby Gamma » Sun Mar 08, 2015 5:08 pm

CarefulBuilder14 wrote:From card terms:

"Existing or previous Accountholders may not be eligible for this one-time bonus."

CO could conceivably give the double bonus - but they legally don't have to. They wouldn't stay in business very long if they didn't limit the $400 bonuses.


There's been reports of people getting the offer multiple times in the flyertalk thread

http://www.flyertalk.com/forum/credit-card-programs/1154161-consolidated-capital-one-venture-other-cards-now-40k-23.html#post24448544

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3753
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Sun Mar 08, 2015 5:26 pm

Gamma wrote:There's been reports of people getting the offer multiple times in the flyertalk thread

http://www.flyertalk.com/forum/credit-card-programs/1154161-consolidated-capital-one-venture-other-cards-now-40k-23.html#post24448544


The particular page that your link brings up (#23) doesn't mention multiple bonuses. The page before it (#22) does mention occasional success in getting the AF waived if you call and ask (one year at a time - not a permanent waiver).

I didn't read the other 21 pages to see where the 'multiple offers' are discussed. Perhaps there is a requirement that you have to wait some length of time between applications?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests