Capital One has added some new restrictive language to cards with sign up bonuses. The language states:
Existing or previous cardmembers are not eligible for this product if they have received a new cardmember bonus for this product in the past 48 months.
Previously cards stated
existing or previous cardmembers may not be eligible
It’s often difficult to get approved for Capital One cards anyway and there is a limit of one new card per six months as well.
Hat tip to DDG