Capital One is one of the most popular and diverse credit card companies in the world. The company issues cards with Visa and MasterCard labels, addressed to business owners, consumers, frequent travelers, students and even people trying to rebuild their credit. Of course, with all this popularity, there are several questions about the rules and restrictions that Capital One can set for its credit cards. Can I have two credit cards from Capital One?
Basically, you can only have two Capital One credit cards. Because of this limitation, it is important to apply only for the Capital One cards you really want.
Capital One Credit Card Restriction Policy
Capital One limits consumer credit cards to two cards per person. Technically, you can have more than two Capital One cards, but for some Capital One cards they don’t accept new applications.
Here’s how some cardholders have more than two Capital One credit cards:
- Old credit card accounts. They already had more than two Capital One cards when this principle was implemented in 2011. If they decided to keep their cards, the rule did not apply to them.
- Capital One has acquired banks. People with credit cards by banks bought through Capital One, such as HSBC, do not count towards the principle of two cards.
- Cobranded credit cards. Cobranded cards issued by Capital One and a retailer do not count as a rule. For example, you can get the GM BuyPower business card from Capital One® in addition to two Capital One cards without conflicting with the rule.
- Secured credit cards. Secured Capital One cards do not count as a rule. If you started with a Capital One secured credit card and managed to build a loan, you are still entitled to two additional seats for Capital One credit cards.
- Business Credit Cards. You can freely add Capital One business credit cards to your personal card if you need more than two, without conflicting with the two-card rule.
Apply only for what you need
First of all, it’s important to know that every time you apply for a new credit card, this creates a difficult question – then the bank or lender looks at your loan to decide if you will be approved. So applying for many cards means raising many difficult queries. And although one hard inquiry from one credit card issuer usually has little impact on your credit standing, many inquiries can have a more significant effect – especially if you apply for too many cards in a short time.
Pay on time, spend responsibly
Regardless of the number of credit cards you have, the only way to keep your credit card healthy is to pay your bills on time. Set a reminder on your phone or leave a note on the fridge to make sure you don’t forget and try to pay off the balance in full every month. It’s also a good idea to keep your credit usage low, which means knowing your credit line and making every effort to stay well below that number for each card. The Consumer Finance Bureau recommends keeping credit usage below 30% if you can.
We love the convenience of making quick purchases anywhere, we love the benefits of all reward programs, and we love the flexibility of using different cards in various shopping situations. And even if you can only carry two Capital One credit cards, there are other reward cards and co-branded cards that have the same great benefits from the same great credit card issuer. We Americans also like to have a choice, and luckily, when it comes to credit cards, we have many options.
