How come Cap1 denied my app for Venture?

[Anonymous]

I had to chime in, i applied for the ventureone like 2 months ago i think, they denied me as well, there reasons were, limited credit history which does make sense only 8 months at the time and not enough high enough credit limits. Now the funny thing is, if i would have been approved it probably would have been for only there minimum which is 3k. I decided to try my luck with the csp, despite many on here stating i had no shot if i could not even get the venture card, after the we need further review, i called in, analyst sd he cant see the app, i need to call verification. I called verification, answered a few questions and bam 7500 credit limit. I wanted a travel reward card, now i have a prime card, point is, capital one makes 0 sense, some of these denials are just asinine. My business is now with chase, i have a cap one platinum which was my very first unsecured card, they just gave me a bump from 300 to 800 to 2000, but i dont even use 100.00 a month on it, as far as im concerned, capital one will never ever get any real business from me. Best of luck to you, i would go for csp if i were you, you will probably get a way higher credit line anyhow.

[Legions36]

Ok so I called the number and they said since I was denied there was nothing that could be done and they would not allow me to speak with an executive rep.

After that I tried to do some research then found out you get denied if you have 2 cap1 cards. I have a quicksilver and and old starter cap1 card, i just closed the starter cap1 card a few weeks ago that only had a $400 limit in which i transfered to my quicksilver with that limit. I dont think the closed card has reported on my file since my closing dates for these cards each month is arounf the 18th. Not sure if this was the issue but maybe you guys know more than me?

I also checked to prequal offers and now no offers showing up.

I do aggree that this bank is a little far fetched with pulling all 3 bureues and I only have $3400 in lines with them, other places are throwing nice limits to me like its nothing.

[TrialByFire]

You can have more than 2 cap1 cards; I think there's another reason or reasons for the denial.

I also am not a fan of the 3B pull, wishful thinking I know but maybe that'll change at some point

[Legions36]

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@TrialByFire wrote:
You can have more than 2 cap1 cards; I think there's another reason or reasons for the denial.

I also am not a fan of the 3B pull, wishful thinking I know but maybe that'll change at some point

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Not sure cause i did the searches here at myfco forum and thats where i found this information about the 2 card limit, more than one thread i read...

[TrialByFire]

Yeah there are limits, thinking 2 subprime cards, and 5 overall plus cobranded. I'll go back and find links later

You currently have a QS (prime) and old starter (sub prime?) You applied for a Venture (prime). So you shouldn't be limited by either aforementioned scenario

[TrialByFire]

Here's one

http://ficoforums.myfico.com/t5/Credit-Cards/Total-of-Cap1-cards/m-p/3796337/highlight/true#M1052720

[Anonymous]

I used to have a Platinum, QS1, Journey, Venture and Venture One, so 5 cards total. Platinum was my first out of BK and the QS1 was a convert from an HSBC card and the Journey was converted from the old MTV Visa. I cold apped for the Venture and Venture One and was approved for 15k and 7.5k, respectively. I PC'd the Journey to a QS Visa Signature, then combined the Plat and QS1 into it. Recently paid off my Venture One and combined it into my QS Visa, bringing me to only two cards. So, as far as the 2 card max idea, well, it just doesn't hold water. Depends on how C-1 vews your credit, per their underwriting standards. I've scratched my head over my own approvals and seen others with even lesser credit scores than mine were, get approved as well, while seeing people with much higher scores get declined. I can't make accurate sense of it.

[Loquat]

You can certainly have more than 2 cards with C-1.  Currently I have 5 with them and I cold app'd for both my VentureOne cards and were approved with $10K & $7.5K and my scores are much lower than your own.  There has to be something else they don't like... 

[bodyboy1]

> best of luck with everything..  keep checking that preQualifier  Don't Worry abount Nothing.. You are Fine!

[Legions36]

Actually I made a mistake on the title of this thread. I just realized that I applied for "Venture One" which seems to be a difference of approvals and denials when I looked up old threads.