CapOne Spark Business Denial...

[KeithW]

I personally have 3 CapOne cards that are all several years old, and none have ever had a late payment. Today our business got a letter in the mail advertising Spark Business and I thought I would sign up for it. My business has been around for 102 years, we have yearly sales between 500K and 1 million dollars and have no debt. I personally have decent scores as well.

After I applied though it told me that they couldn't approve my application. Any thoughts on why this might be???

[Creditaddict]

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@KeithW wrote:

I personally have 3 CapOne cards that are all several years old, and none have ever had a late payment. Today our business got a letter in the mail advertising Spark Business and I thought I would sign up for it. My business has been around for 102 years, we have yearly sales between 500K and 1 million dollars and have no debt. I personally have decent scores as well.

After I applied though it told me that they couldn't approve my application. Any thoughts on why this might be???

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cap1 pulls all 3 personal credit reports but basis approvals on your EQ which is your lowest but I would send an email to the .... google "Capital one president email address" and send an email just short and sweet...

"I have been cap 1 personal cardholder customer for years and have 3 accounts and recently got an offer for my business and applied and was denied, i would like to have this application reconsidered.

thank you

and leave a contact number like a cell, they will probably call you monday to go over reconsidering"

[KeithW]

I will give that a shot. I still have the number for their executive offices, which are the ones that have given me CLIs in the past.

It looks like they pulled my TU report.

[KeithW]

I talked to the executive offices and they sent my application to the underwriters. They denied it based on the fact that my utilization was up at 50%, as I had used my rewards card for business expenses and they reported before I got re-imbursed for them.