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Cap 1 Secured

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Anonymous
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Cap 1 Secured

So I recently applied for Cap1 Secured Card my score is about 620 and I was selected for review and they want proof of income for a $200 secured card seriously?

Meanwhile my friend applied same day with me he has 480 score and was instantly approved for a $200 secured card no verifications. I seriously don't understand.

My income right now is financial aid and student loans in a full time student. What's going on here?
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Anonymous
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Re: Cap 1 Secured

Bump
Message 2 of 4
Anonymous
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Re: Cap 1 Secured

Bump
Message 3 of 4
Anonymous
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Re: Cap 1 Secured

What do you want @Matt?

You were given additional options, bro

You clearly say, you were SELECTED for review,
it happens your friend out through you didn't.

You asked about this same issue I'm like 3 different post
We all speed but only if we are SELECTED for review do we get the ticket that day....

What's going on is you got pulled over and your pal didn't...how clearer could it be😃

Cop pulls you over as a Red Mustang speeds by...it is what it is bro.

As, I recall you don't think your student aid or whatever will cut it as POI
And you may be correct

I feel you, because most times Cap-1 doesn't vet POI at all secured or not.... The problem you have now is how do you tell them they don't Need something their asking when it's a basic ask.

Did you go overboard with what you put down for income?

Did you TELL them too much regarding your income, you didn't TELL them you only had FA did you?

Since, the Credit Card Act... these companies try to protect themselves from charges of predatory lending to ppl this no ability to pay....so to save face, especially for young unmarried ppl they want to at least have in their records evidence that they checked and vetted that their 'victims' / cc holders seemed able to pay when they opened the account.

Am, not suggesting anything but do you know anybody, family whatever that can provide you with some cover here, ya know a he works for me type deal.

You can't need more than a $1k a month POI to satisfy the vetting of a $200CL secured card... again depending on what you put down for your rent / income
It's hard to know what the trigger is thus it's hard to know how to advise you how to pivot out of it.

I'm not judging, as you I'm a solutions dude...if there is one (might want to share the scoop via PM so it's not public😉)
Message 4 of 4
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