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I applied for platinum and denied with fico Ex 650. Filed in september fro Ch7 and discharged in December ( I was denied 3-4 times by Cap 1 with hard inquires on all my CRS. Cap 1 was never IIBK. Many yrs ago I closed two cap 1 with zero balance. No love for me.. The reason(s) for our decision are:
"Based on your credit report from Equifax,there have been too many recent inquiries" about 40-41 inquires.
Did their prequalify page actually give you a thumbs up first?
Nope cold app
I've only used their prequal site -- never cold apped with them. When my FICOs were 540 they offered me the secured platinum or the unsecure platinum. I went secured so I could have a $3000 TL instead of a $300 toy card limit.
Stop apping
Capital One pulls all 3B when you apply, so you've got to take into consideration your WORST report/score. In your thread title and original post you referenced a 650 EX score. That's all fine and well, but if your EQ and TU scores are lower than that, you must know that Capital One saw them and made their lending decision based on the entire body of data that they had at hand. Capital One is one of those lenders that I'd suggest being solid on all 3B prior to apping for this reason. Someone may be at 700 scores on 2 bureaus because they're clean there, but could be at 600 on the third because they're dirty. It's important to know that CO will see that dirty report, so definitely take that into consideration.
EX 645
TU 633
EQ646
The reason(s) for our decision are:
Ø Based on your credit report from Equifax,there have been too many recent inquiries.
Your Credit Score 650 Date: 2017-08-13
Source: Experian
I will stay low for a while.. I was looking to open a Cap1 and close Open Sky, First Premier, credit one, and lend up.
40 inquiries on just one credit report? That's massive since they drop off in 24 months, so it will spook creditors thinking you're desperate for credit. Not a good place to be.
How many inquiries do you have on TU and EX?
Inquiries hurt your FICO score for 12 months for sure, but they stay there for 24 months. You really need to garden until you get your inquiries down to 4 on each. Don't app for anything until they're WAY down. It isn't going to magically correct itself short of the drop-off period.
Creditors don't only go with FICO score, they also use their own internal calculations based on many things such as how many new accounts you have in what period of time, how many inquiries you have, how your utilization is, and other metrics. Each creditor varies in their internal scoring methods.
Capital One approved me for an unsecured QS1 with a lower score than yours, but I only had 6 inquiries on each report -- and to be honest, that's still too much for me. I am going to garden until I am below 3 inquiries on each.