RE: Can you apply for a credit card from capital one if you already have a different card from them?

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Can you apply for a credit card from capital one if you already have a different card from them?

alex Silver Asked on July 19, 2019 in Business & Finance.
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Yes, you can apply for an additional card from Capital One when you have an existing card.

There are certain dangers you should be aware of just so you weigh all the different factors involved.

In the past, Capital One was known for offering people many cards with low credit limits. What can happen in that circumstance is that a financial hiccup such as loss of job or income or unexpected emergency expenses could lead to extremely high fees. People would not have one late fee, but multiple late fees.

If your Capital One card, or any new card you open, has a low credit limit, be aware how any balance you carry affects your credit rating. While it is best to pay off your balances in full each month, to avoid interest charges, you want to keep any running balance you carry to less than 30% of the credit limit.

If you have small credit limits on your card(s), then even a small running balance can harm your score. For example, a card with a $300 limit and a $100 balance would be using 33% of your available credit and hurt your credit score.

Star Answered on July 19, 2019.
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