Capital One has traditionally had the strictest utility restrictions out of the 4 main bank card issuers within the U.S. (the others being Chase, American Specific and Citi).
The financial institution restricts the variety of private playing cards in your pockets to 2, however this doesn’t have an effect on cobranded or small-business playing cards. This rule has not modified, however one thing else did.
Beforehand, quite a lot of private playing cards — such because the Capital One Enterprise X Rewards Credit score Card (see charges and charges) and the Capital One VentureOne Rewards Credit score Card (see charges and charges) — had the next language:
The bonus will not be accessible for current or earlier accountholders.
This language has now been modified to:
Current or earlier cardmembers will not be eligible for this product if they’ve obtained a brand new cardmember bonus for this product previously 48 months.
Day by day Publication
Rewarding studying in lower than 5 minutes
Be part of over 700,000 readers for breaking information, in-depth guides and unique offers from TPG’s consultants
So, in impact, the vagueness round whether or not you would be accepted for a brand new Capital One private card has been clarified. Now you will not get the cardboard when you have obtained a bonus on that very same card previously 4 years.
Is that this a optimistic or detrimental change? Nicely, it may very well be argued that it is neither. The up to date language merely supplies readability and aligns Capital One’s coverage with Chase’s 48-month rule for the Chase Sapphire Reserve and the Chase Sapphire Most popular Card, in addition to Citi’s 48-month rule on most of its ThankYou points-earning and cobranded playing cards.
Associated: The last word information to bank card utility restrictions
It is value noting that many factors and miles fanatics — even these with credit score scores above 800 and excellent fee historical past — routinely get denied for Capital One bank card functions.
For instance, I’ve the Enterprise X and utilized for the Capital One Enterprise Rewards Credit score Card two months in the past. Even with a credit score rating above 800 and no missed funds, I received denied. It is a frequent prevalence for TPG staffers and readers.
It is also value declaring you can’t maintain Chase’s Sapphire Most popular and Reserve playing cards concurrently. Nevertheless, you possibly can maintain the Capital One Enterprise X and Enterprise Rewards playing cards on the similar time — so long as you meet the eligibility standards and are accepted.
Associated: Are you eligible for the Capital One Enterprise X’s welcome bonus?
