Wanted to share cap 1 venture requirements

[Rkalynsmith]

So I was thinking about applying for the venture card but I called the application line to ask some questions first. She stated you needed to have excellent credit, min of 3 years CC reporting and a CC reporting at least 5k limit. Anybody's report different when they applied?

[CreditCuriosity]

---

@Rkalynsmith wrote:
So I was thinking about applying for the venture card but I called the application line to ask some questions first. She stated you needed to have excellent credit, min of 3 years CC reporting and a CC reporting at least 5k limit. Anybody's report different when they applied?

---

Complete lie.. That is what they would like, not what they get applying for that card.  People have had 1k limits and get approved for the Venture for 5k-15k lines.  Less then 3 years history as well.. Their underwritting standards are not that tough.. I would say 660's across the board would probably get you a 5k approval and possibly more depending upon income.  So ya you got to have a little credit history, but not a 5k CC nor 3 years of history.  Probably at least 1 year of CC history, probably a few cards the better, but what they state is bogus.

Their deffenition of Excellent Credit is alot different then Citi's or BofA, etc..

[Anonymous]

---

@Rkalynsmith wrote:
So I was thinking about applying for the venture card but I called the application line to ask some questions first. She stated you needed to have excellent credit, min of 3 years CC reporting and a CC reporting at least 5k limit. Anybody's report different when they applied?

---

I do believe credit age is a big factor.

5K limit is untrue, my mom only had a $3,000 card before getting a $10,000 Venture

Excellent Credit?  I guess this is true if you consider 685 "Excellent" 

[Anonymous]

I have a thin file and a low aaoa (depending on the bureau and they pulled all 3) but higher scores and relatively low income (I think i put $35000 which is my personal projected income for this year). I was approved for $5000 venture one (I was preapproved for both but decided the venture one was more usable in my case), i think the cl was based on income because they did not send me a letter stating my score or any negatives that affected their decision.  I even asked them to a few weeks ago and they havent.  This is my only card at or above $5000 but I am AU on a card with a much higher cl.

[Anonymous]

---

@Rkalynsmith wrote:
So I was thinking about applying for the venture card but I called the application line to ask some questions first. She stated you needed to have excellent credit, min of 3 years CC reporting and a CC reporting at least 5k limit. Anybody's report different when they applied?

---

NOT!!!  I had an $9000 Amex, but it was not reporting yet.  The highest CL I had showing was $3000 on two accounts and $4500 on JCrew.  And I do not have 3 years worth of rebuilding credit history yet.  I do have closed accounts in good standing from yearssssssssssssss ago though.

[Rkalynsmith]

Okay so my highest limit is 1k and I have 3 baddies on transunion. I was thinking about applying after my cards update tomorrow. AAOA is 1year 2months with my oldest CC is 8/13. Should I wait then? Planning on asking DCU for a 10k limit Thursday when I refi. Scores should be 700 expect for TU.

[racer-x]

---

@Rkalynsmith wrote:
Okay so my highest limit is 1k and I have 3 baddies on transunion. I was thinking about applying after my cards update tomorrow. AAOA is 1year 2months with my oldest CC is 8/13. Should I wait then? Planning on asking DCU for a 10k limit Thursday when I refi. Scores should be 700 expect for TU.

---

I'm curious, but what is happening to your credit file that will net you 30 pts overnight?

If your anticipated score increase does happen, then just wait to hit the Venture, otherwise, hit it NOW!  lol

[Rkalynsmith]

Had 51% utilization And paid it all down to 2% in a month so all 3 cards report this week.

[ddemari]

VentureOne was my first 5k Visa Signature... I had a prequal though and at the time 5 capitalone cards. 

[Anonymous]

---

@Rkalynsmith wrote:
So I was thinking about applying for the venture card but I called the application line to ask some questions first. She stated you needed to have excellent credit, min of 3 years CC reporting and a CC reporting at least 5k limit. Anybody's report different when they applied?

---

LOL! 

So, Friday I apped and got:

Venture $10,000 at 17.9%

Quicksilver $3,000 at 17.9%

My AAoA is kinda high (for now) due to old installment loans set to fall off this year. But my CC age is really young. Oldest card is 9 months old. Highest limit card was $1,000. My scores were TU 646, EX 648 and EQ 648. Cap1 had been sending me pre-approved mailers for their average/rebuilding credit cards and I had been shredding them. I jumped onto the Cap1 pre-qual site Friday night and I was pre-approved for both those cards (NOT the Ones) with that interest rate. I hit the button and voila. I have no idea their rhyme or reason. I also screwed Cap1 over when I was 18 and settled my account for 50% about 8 years ago. 

I guess that's why they say YEMV.