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Approved for CapOne Venture with Lackluster to Average Credit

Member

Approved for CapOne Venture with Lackluster to Average Credit

This is maybe my second time posting on these boards, but I wanted to share my story for others who are looking to get new credit. I'm a recent college grad making 50k a year with about 16k in loan debt. I have 3 credit cards - one secured Cap1 with a $450 CL (started at 300, was increased about a year ago), one student Cap1 Journey with a $750 CL (started at 500, was increased about 6 months ago), and one Macy's card with a $100 CL (-_- cannot buy a thing). My credit report is less than 3 years old, and my AAoA is probably around 1.5 years. I have 1 60-day late about a year and a half ago from a mess-up on Macy's end that they refuse to correct and I'm done battling. I was just approved for a Cap1 Venture card - generally for people with 'excellent' credit - with a $5000 limit, 20 minutes after being denied CLIs on both Cap1 accounts. While my Experian was 710 (just entered the 700 club this month), whatever co. CreditKarma pulls put me at 687. So excellent by no means.

I think a few things helped me:
- my credit history with cap1. Even though I knew I had a better chance applying for other cards (CKarma said I had very poor chances and I read countless internet reviews), I figured that I'd never been late with Cap1 and infrequently carried a balance. If anyone was gonna go out on a limb for me and give me a 'big kid' credit card, it should be them.
- my utilization. It'd dropped down to 3% from about 30% 6 months ago. That is to say, I said eff credit, set up my cell phone bill to one card, put the cards far away and didn't check my scores for a long time.
- my inquiries. In line with saying eff it, I'm pretty sure I'd been unintentionally gardening for almost a full year. There would be one inq on my account from September 2012 (shxtty opaque apartment leasers hard pulling my credit), but that's it.

Moral of the story? Sometimes Cap1 isn't the devil, and sometimes it's okay to just close your eyes, go for a reach, and press submit. Consider your relationship with the company and remember: the worst they can say is no.

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Very quick question: I want to irresponsibly (but I deserve it!) book a $1500 international trip in June. This card is great for mileage and would obviously help, so I'd like to buy the trip entirely on the card and pay off half immediately and the other half a couple weeks later (obviously without carrying a balance). Do you all have any thoughts/ideas about how far this will set my scores back? Will the rebound be difficult enough to make my strategy not worth it? I'm not planning on applying for anything in the next 6 months. Thanks!

Starting Score: TU 604
Current Score: EX 719
Goal Score: All CB 800 (07/2018)

MY WALLET: AMEX BCE 13 K | Amazon Prime Rewards Visa Signature Card 9 K | CapOne Venture Rewards 5.5K | CapOne QuickSilver 3.7K | Discover IT 3.2K | AMEX HH 2K

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Message 1 of 14
13 REPLIES
Member

Re: Approved for CapOne Venture with Lackluster to Average Credit

As an update, after writing this I took my own advice and applied for an Amex BCE and was approved with a 3500 CL. I'm incredibly confused but am seriously done for good now - it's about time I shred that Macy's card.

God, these forums were right about credit utilization and gardening - even if accidental.

Starting Score: TU 604
Current Score: EX 719
Goal Score: All CB 800 (07/2018)

MY WALLET: AMEX BCE 13 K | Amazon Prime Rewards Visa Signature Card 9 K | CapOne Venture Rewards 5.5K | CapOne QuickSilver 3.7K | Discover IT 3.2K | AMEX HH 2K

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Message 2 of 14
Moderator Emeritus

Re: Approved for CapOne Venture with Lackluster to Average Credit

Welcome to the forums!

 

Thanks for posting your story, along with the specifics. This helps people to see that, while there are certain things that are generally true, apping for credit can be a YMMV sort of thing. Getting approved for a particular card doesn't just boil down to scores, but to the specific credit profile, which is different for each individual. Cap1 liked what they saw and gave you a non-toy card. Congratulations! Enjoy your new Venture and BCE and treat them well. And welcome to the Amex family, too. Smiley Happy


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 3 of 14
Moderator Emerita

Re: Approved for CapOne Venture with Lackluster to Average Credit

Message 4 of 14
New Contributor

Re: Approved for CapOne Venture with Lackluster to Average Credit

How did you get approve for venture with 2 other capital one cards I though the max was 2. Gives me hope

Message 5 of 14
Established Contributor

Re: Approved for CapOne Venture with Lackluster to Average Credit

Great story. Congrats on your approvals.

Starting Score: EX: 575 (PSECU 5/2/12) TU: 582 (3/6/12) EQ: 664 (4/27/12)
Current Score: EX: 699 (PSECU 06/04/14) 702 (my FICO 08/05/14) TU: 699 (08/01/14) EQ: 675 (07/08/14)
Goal Score: 720
20K PSECU 7/12 | 12K USAA 9/12 | 11K BOA 1-2-3 9/12 | 9K Citi HHonors 9/12 | 8.5K Citi AAdvantage 5/08 | 5K Chase Sapphire Pref. 9/12 | 3.8K Barclays USAir 7/12 | 6K Walmart Dis. 11/12 | 1K Amex SPG 11/12 | 2K Amex BCP 1/13
Message 6 of 14
Super Contributor

Re: Approved for CapOne Venture with Lackluster to Average Credit

grats!

 

the venture card is the best card offered by capitalone right? 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 7 of 14
New Contributor

Re: Approved for CapOne Venture with Lackluster to Average Credit

Never give up or surrender

Congratulation on your determinationSmiley Happy

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170
Message 8 of 14
Senior Contributor

Re: Approved for CapOne Venture with Lackluster to Average Credit

Congrats!! I love my Amex BCE!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 9 of 14
Member

Re: Approved for CapOne Venture with Lackluster to Average Credit

Thank you everyone! I can't wait to begin my membership into the exclusive Club Amex, though I don't anticipate buying anything more expensive than bubblegum on it for a while haha.

Starting Score: TU 604
Current Score: EX 719
Goal Score: All CB 800 (07/2018)

MY WALLET: AMEX BCE 13 K | Amazon Prime Rewards Visa Signature Card 9 K | CapOne Venture Rewards 5.5K | CapOne QuickSilver 3.7K | Discover IT 3.2K | AMEX HH 2K

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Message 10 of 14