Capital one Venture X Decline

[911gt34life]

I just apply for capital one venture x card automatically decline didn't even pull credit maybe apply too soon ....  

[GZG]

---

@911gt34life wrote:

I just apply for capital one venture x card automatically decline didn't even pull credit maybe apply too soon ....  

---

one card every six months

it also has a 10k mininum CL, so it is unlikely you would have been approved unless you pre-approved for the Venture and have the profile to support a 10k CL

[911gt34life]

Thanks for the information. Yes I guess too soon. ... I apply on July ... 

[49erFaithful85]

Sorry about your denial. Based on your limits I think we're in the same bucketed boat with Cap One. Have SavorOne with a limit under $1000 and its only inching toward that goal by $100 increments every six months. Pre-approved for Quicksilver, not interested as I believe it too would be bucketed.  

[LADave]

@911gt34life sorry to hear about the decline. Since you got a Capital One about 2 months ago, they'll decline you automatically for the short period of time, which is probably why they didn't pull your report. I understand they prefer no new cards for at least 6 months before applying for the Venture X.

Without knowing more about your profile (including FICO scores), I noticed that you have only 3 cards listed, all from Capital One and with low limits. The Venture X is a Visa Infinite, which has a minimum SL of $10,000. And they look for excellent credit with a history of handing cards with a $5,000 (or better) limit.

Time to get your popcorn, because I'm about to do something you might never see me do again... 🍿

If a Venture X or another Visa Infinite-type card is your goal, you may be a good candidate for the X1 card. I rarely recommend the card because of their customer service issues and their inflexible rewards program - and in fact, this is the first (and possibly last) time I'll suggest it. But because they typically give much higher SLs than other cards, it might be up your alley. Although they'll ask for your banking info, they won't pull your credit until you've accepted it - and by that time, you'll know what limit you're approved for.

Credit is a marathon, not a sprint - and getting approved for the Venture X is an indication that you're running the marathon well. Keep at it and you'll eventually get approved for it or something better. 😀

[GZG]

---

@LADave wrote:

@911gt34life sorry to hear about the decline. Since you got a Capital One about 2 months ago, they'll decline you automatically for the short period of time, which is probably why they didn't pull your report. I understand they prefer no new cards for at least 6 months before applying for the Venture X.

Without knowing more about your profile (including FICO scores), I noticed that you have only 3 cards listed, all from Capital One and with low limits. The Venture X is a Visa Infinite, which has a minimum SL of $10,000. And they look for excellent credit with a history of handing cards with a $5,000 (or better) limit.

Time to get your popcorn, because I'm about to do something you might never see me do again... 🍿

If a Venture X or another Visa Infinite-type card is your goal, you may be a good candidate for the X1 card. I rarely recommend the card because of their customer service issues and their inflexible rewards program - and in fact, this is the first (and possibly last) time I'll suggest it. But because they typically give much higher SLs than other cards, it might be up your alley. Although they'll ask for your banking info, they won't pull your credit until you've accepted it - and by that time, you'll know what limit you're approved for.

Credit is a marathon, not a sprint - and getting approved for the Venture X is an indication that you're running the marathon well. Keep at it and you'll eventually get approved for it or something better. 😀

---

this is a great suggestion @911gt34life 

Your deposit history will be considered far more heavily than your credit score/history for a card like this and it would have a higher limit than you're able to get elsewhere if you can get approved 

[911gt34life]

One of the reasons I went for this card is high limited of 10K over and my chances of getting approved are high 😁 because capital one doesn't seem to care about income or score relationship is what matters ..   

Preapproved page ? It's a joke I wasn't preapproved for savor stil got it since I have a few collections and charge off getting delete few months I wait ....  

2023 strategy

X1 card with Verizon visa signature  and Venture X hopefully that 60,000 limited in 3 card ..

[LADave]

---

@911gt34life wrote:

One of the reasons I went for this card is high limited of 10K over and my chances of getting approved are high 😁 because capital one doesn't seem to care about income or score relationship is what matters ..   

---

Capital One's Venture X page explicitly says that they're looking for "Excellent" credit for applicants. There have been a few positive DPs for scores below 720 but not many, and I don't recall seeing any below 680 or so.

The DPs I've seen indicate that they're much more interested in positive history with higher limit ($5K+) cards with any bank than with low limit cards with Capital One. If they're not approving you for more than a few hundred dollars per card, they're not going to approve you for a Visa Infinite (min. $10K SL) like the Venture X in the short term.

Capital One's rewarding customers for loyalty only goes so far. Since  your approvals with them so far are in the $300-$500 range, you're better off developing relationships with other banks (and getting higher limit cards with them) before trying your luck again with Capital One. It sounds like you've already got a plan for that.

[GTS]

I notice you have both the savor and quicksilver card. I think you can only hold 2 "regular cap 1 cards" at a time. The Walmart card doesn't count because it's co-branded as well as any cap 1 business cards wouldn't apply to that rule eaither even though they all report on your personal credit.

[RedKhaos]

@GTS wrote:

I notice you have both the savor and quicksilver card. I think you can only hold 2 "regular cap 1 cards" at a time. The Walmart card doesn't count because it's co-branded as well as any cap 1 business cards wouldn't apply to that rule eaither even though they all report on your personal credit.

---

This shows up a lot and I just saw it in forbes article no less, but that's not an actual capitalone rule, at least not anymore.

https://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-2-Card-Rule/td-p/6498718

OP, CapitalOne is a little different from a lot of lenders in that they go after a mix of customer groups. They heavily target subprime borrowers which is why you can get SavorOne with 600 scores, but they also want some prime/superprime folks for their Venture X. Their ideal customer is probably someone who got QS/S1 while being subprime and then when their credit improved, got the Venture X while keeping those low class tranched cards out of inertia.

---