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How Many Capital One Credit Cards Can You Have

Credit Cards
Expensivity Editors

Owning a wallet full of credit cards might seem like a flex. However, are you sure that it is a wise or affordable flex? Card users have piled up a $1 trillion debt in recent years.

Capital One has strict selection criteria for its card members. So, how many Capital One credit cards can you have? Read our detailed answer.

How Many Capital One Credit Cards Can You Have?

You can have as many Capital One credit cards as you can afford. The bank does not restrict you. However, they will make inquiries about your creditworthiness and capability before approval. You will be rejected if you want to get five Capital One cards on top of an outstanding debt. 

A wallet with different credit cards and money

Every issuer looks at:

  • Debt-to-income ratio
  • Credit score
  • Previous financial behavior

Before approving you for a card, you should apply for cards that help you spend within your means. 

Applying for Multiple Cards

When you consider applying for multiple Capital One credit cards, there are several factors to keep in mind:

  • Each application makes a hard inquiry on your credit report. It can affect your credit scores. Too many hard inquiries could indicate risk to lenders.
  • Hard inquiries from credit card applications may temporarily lower your credit scores. Lenders use these scores to gauge creditworthiness.
  • You must have a solid credit history before applying for multiple cards. This shows lenders that you manage your credit responsibly.
  • Some credit cards charge annual fees. Verify that any benefits outweigh these costs before applying for several cards.
  • Seek pre-approved cards. It raises chances of acceptance with less impact on your credit score.
  • Issuers review your income to determine if you can handle multiple cards.

Selecting a Capital One Card

When considering a Capital One credit card, match your financial needs and lifestyle with the card’s benefits. Capital One provides a range of cards for diverse personal and business finance goals.

Rewards

You can find cards that reward you for your everyday purchases. You must look for:

  • Cash Back – Look for cards offering returns on purchases, especially in categories like grocery stores or dining. Some cards even offer bonuses for streaming services.
  • No Annual Fee – Consider cards without an annual fee to maximize your rewards. This means more money in your pocket and less worry about offsetting costs with rewards.
An Asian woman holding an orange credit card while looking at the laptop with tow two more credit cards on the table

Travel

If travel is a large part of your life, here are some travel-specific benefits you may enjoy:

  • Travel rewards – Earn travel miles for flights, hotels, and rental cars that can be redeemed for future travel.
  • Global Entry/TSA PreCheck – Some cards offer statement credits for Global Entry or TSA PreCheck, speeding up your travel process.
  • No foreign transaction fees – Cards tailored for travelers exempt foreign transaction fees, saving you money while abroad.

Credit Building

You can be a student or someone looking to rebuild a damaged credit score. You should look for:

  • Credit limit increases – Look for a card that helps you become eligible for a credit limit increase.
  • Low or 0% intro APR – Cards with low or intro APR on purchases and balance transfers can help manage existing debt and reduce interest.
  • Credit utilization monitoring – Keep an eye on your credit utilization ratio by getting a credit-building card. 

Pairing Capital One Credit Cards

Your spending habits should dictate how you pair your cards. For example, pairing two travel-oriented cards might make more sense if you travel frequently. However, we tried some general pairing tips that worked fine. You can:

  • Start with a primary card for everyday purchases.
  • Add a card that rewards high spending in specific categories like groceries or gas.
  • Use the combination to cover gaps and maximize rewards.

We believe that two or three cards are enough for an income-based household. You must be able to clear your monthly statement balance for every card. Otherwise, you will incur a high APR that may be difficult to pay.

Pros and Cons of Owning Multiple Cards

You must know that you are making the right decision by carrying more than one card. 

Pros

  • You earn multiple rewards by strategically using different rewards cards for various purchase categories.
  • Cards offer enticing signing bonuses and limited-time offers that can be pretty lucrative.
  • It can help you maintain a lower credit utilization ratio by spreading your purchases across multiple cards.
  • Each card comes with its own set of perks. Travel insurance, extended warranties, or exclusive access to events are a few examples.

Cons

  • Juggling multiple cards means you must be vigilant. Your spending habits might make you miss due dates and accumulate fees and interest.
  • The temptation to spend more may increase with the number of cards you have. It can lead to higher balances and debt.
  • Applying for multiple cards usually involves hard credit checks. It can temporarily lower your credit score.
  • Keeping track of automatic payments for several cards can be challenging. You can miss payments or overdraw your account.
A man using her credit card for his purchase online

Related Questions

Is 5 Credit Cards Too Many?

Having five credit cards is not necessarily too many if you manage them responsibly. You must be able to pay off balances on time to avoid accumulating debt. If you think handling that many cards might damage your credit score, you must not go for them.

Can You Have Two Capital One Business Credit Cards?

Yes, you can have two Capital One business cards. This might be particularly useful if you have two different ventures and want to separate their expenses. Or if you want to leverage different rewards programs that align with specific areas of your business spending.

How Many Credit Cards Are Too Much?

The “too much” card threshold varies by your financial circumstances and credit management skills. Although multiple cards can help you build credit, you can overextend and accumulate a high debt. You must research thoroughly because an unwise decision can damage your credit score. 

Conclusion

You can have as many Capital One cards as you can afford. You should match your needs and payment capacity before applying for multiple cards. Paying the minimum balance and piling debt is an unwise move if you plan to do so. For an average household, two reward cards can do well.