How many Capital One cards can you have?

You’re happy with the Capital One credit card you have. But other Capital One cards are appealing too.

Maybe you want multiple cards to boost your buying power or earn elevated rewards. Whatever the reason, it might help to consider a few things before you apply for another Capital One card.

What you’ll learn:

• You can apply for more than one Capital One credit card and have multiple accounts open. 

• Whether you’re approved for multiple Capital One credit cards depends on your situation and Capital One’s credit policies.

• No matter how many Capital One credit cards you have, the key is to use them responsibly. That includes things like paying on time and keeping your balances low.

Yes, it’s possible to have more than one Capital One credit card.

You can choose how many cards to apply for. But like other issuers, Capital One has policies that determine whether to approve or deny those applications.

There’s no rule about how many credit cards you should have. It depends on your needs and circumstances. But it’s always worth asking yourself what an additional Capital One card might do for you.

Consider what rewards and benefits your current card provides. For example, if you’re currently earning cash back, you might want to think about a Venture card or Venture X card to maximize travel rewards. 

If you’re interested in earning extra cash back at grocery stores, dining and other food and fun, check out the Savor card.

There are a few things to keep in mind when you’re considering applying for an additional Capital One card.

Having multiple credit cards can have a positive or negative impact on your credit. That’s because it affects these factors used to calculate credit scores:

• Credit utilization ratio: This is a measure of how much of your available credit you’ve used versus how much you have. The Consumer Financial Protection Bureau (CFPB) recommends keeping your credit utilization ratio below 30%. Adding a new line of credit can decrease the ratio if you maintain the same spending habits. 

• Credit age: The CFPB says that having a higher credit age can help your scores. Opening a new credit card may bring down the average age of your credit accounts. 

• Applications for new credit: Applying for new credit can trigger a hard inquiry. A single hard inquiry generally won’t have a big impact on your credit, according to FICO®. But applying for multiple credit cards in a short time could signal you’re a greater credit risk.

When you have more available credit, it might be tempting to spend more. Plus, multiple payment due dates and balances could be challenging to keep up with. This might be easier if the cards are from the same issuer, though.

Here are some ways to use your cards that can have a positive impact on your scores:

• Pay on time. Your payment history plays a major role when companies like FICO and VantageScore® calculate your credit scores. So no matter how many credit cards you have, it’s crucial to pay on time, every time. 

• Consider payment amounts. You don’t have to pay more than the minimum payment to keep your account in good standing. But the CFPB says, “The more you pay each month, the less interest you will pay over time.” Plus, it can help keep your balances and credit utilization ratios low. 

• Keep older accounts open. It may be tempting to close an old credit card you don’t use as much, but that might lower the average age of your credit accounts. Consider alternatives like using the card lock feature or continuing to use the card for small, recurring purchases.

• Monitor your credit reports. Checking your credit reports can help you identify errors or fraud that can potentially hurt your credit scores. You can get free copies of your credit reports at AnnualCreditReport.com. Or you could use CreditWise from Capital One. It gives you access to your credit score and is free to use, even if you’re not a Capital One cardholder.

You’ve decided that you can manage multiple Capital One credit cards by using them responsibly. So you might consider having more than one Capital One credit card if:

• You want to maximize the benefits. You might add a credit card to access and maximize benefits you don’t yet have. A travel rewards credit card could help you collect miles for an upcoming vacation. A dining rewards credit card could earn you cash back and other perks when you eat at restaurants, order takeout and more.

• You want to boost your buying power. An additional card can increase your available credit as long as you’re not maxing out your cards. This can be especially helpful in a financial emergency.

• You want a backup card. Having more than one credit card gives you flexibility when a card is damaged, lost or stolen.

There’s no definitive answer to how many Capital One credit cards you can have. But it’s probably more helpful to think in terms of how many you should have. And that depends on how many you can make work for you and the amount you can responsibly manage.

If you decide to add a new Capital One credit card to the mix, the CFPB recommends comparing cards before you apply. You can compare cards from Capital One by credit requirements, rewards and other factors.

If you’re new to credit or searching for your next credit card, Capital One can help: 

• See if you’re pre-approved for credit cards without harming your credit scores. 

• If you’re looking to build your credit with responsible use, explore cards for people with fair credit. 

• Earn unlimited 1.5% cash back on every purchase, every day with a cash back rewards card. 

• Monitor your credit report and score with CreditWise. It’s free for everyone, and using it won’t hurt your credit.