In this paper, we present a critical reflection on the concept of social capital. We argue that there is no such idea of an umbrella concept of social capital. Instead, two overarching conceptualizations of social capital exist, namely individual social capital and collective social capital. As these conceptualizations of social capital are completely different, we emphasize that studies using social capital as a theoretical lens should clarify the concept as well as be consistent in the interpretation of the concept, from its definition to its methodological operationalization. In this article, we first map the two different conceptualizations of social capital. Next, these conceptualizations are illustrated with well-known teacher research studies, followed by examples of studies in which individual and collective social capital are mixed. Finally, we discuss the consequences of the use and the mix of these different conceptualizations in terms of measurement methods. Additionally, implications for teacher education are presented.