I was approved for a Capital One Venture One Card. Even more I was shocked that I was given a $20K credit limit. I actually received the card over the weekend.
Today I received the actual approval welcome letter and it showed me the credit score and APR. While my Experian FICO 8 Score at time of approval was over 750+ the Experian Score on the Credit Score Disclosure Notice was 648. I am assuming they used my FICO Score 3 which is commonly used in credit card lending because my Experian Score has been in the 700s for a while now. I was very surprised that they used the FICO Score 3 but even more surprised I was given a $20K limit and a 0% introductory APR for the first 12 months and a 12.99% APR after that.
Is a 648 Experian FICO Score 3 good? I will take the low APR but surprised if they are scoring me at 648.
Very happy but still surprised. Thoughts?
Congrats on your approval and CL!
Mortgage scores they use.. Grats on your very nice approval and terms!