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Hello All,
First time asking a question on here. But here goes. Both my wife and I have been approved for the QS1 in May, both for $300. We both hit "luv" button for CLI last month and received a $500 increase. Will be Credit Step finished end of November. My question is I have been kind of stalking the Venture approval Forums and see that my credit scores (660-690), income (80,000) , and AAOA ( 5.7) are within ear shot of all approvals. But on "Recent Cap1 Venture Approval Stats" I see that almost everyone who was approved already had a Card with a high credit limit over 3,000. I am prequalified on Cap One Website for Both Venture, Venture 1, and QS. But now knowing that information...... I'm not sure I want to take the risk. I have been waiting for 5 inquiries and my Util. to post about 3% come Oct. 5th. Question is: Has there been anyone out there that had a credit line under $1000 and been approved for Venture or Venture 1? And also, should I just wait to see what Credit steps CLI will be after November?
@68comebackspecial wrote:
If you have a prequal on the website with a specific APR I would app with no second thoughts.
+1
Welcome to the board OP!!
ETA:
I was also nervous about pulling the trigger on applying for both V and QS, but with the fixed APR and the theory that I heard about it being as good as approved, I did. And boy am I glad that I did. As always, YMMV. Good luck OP! If you see a fixed APR and not a range go for and come back and let us know how it worked out.
@68comebackspecial wrote:
If you have a prequal on the website with a specific APR I would app with no second thoughts.
This is exactly what I did(double dipped on QS & Venture) instantly approved on 8/8. 3K on QS Visa and 10K on venture.(1 pull btw).
And also approved for Venture1 for 5K on 9/10.
@NewNimproved wrote:Hello All,
First time asking a question on here. But here goes. Both my wife and I have been approved for the QS1 in May, both for $300. We both hit "luv" button for CLI last month and received a $500 increase. Will be Credit Step finished end of November. My question is I have been kind of stalking the Venture approval Forums and see that my credit scores (660-690), income (80,000) , and AAOA ( 5.7) are within ear shot of all approvals. But on "Recent Cap1 Venture Approval Stats" I see that almost everyone who was approved already had a Card with a high credit limit over 3,000. I am prequalified on Cap One Website for Both Venture, Venture 1, and QS. But now knowing that information...... I'm not sure I want to take the risk. I have been waiting for 5 inquiries and my Util. to post about 3% come Oct. 5th. Question is: Has there been anyone out there that had a credit line under $1000 and been approved for Venture or Venture 1? And also, should I just wait to see what Credit steps CLI will be after November?
OP, do it and do it now....seriously before your pre Q goes away.
Someone correct me if I'm wrong, but I believe the minimum for Venture is $5k and Venture 1 and QS is $3k. If you have prequals, go for the Venture and/or the QS as well if you're feeling spicy.
For reference I started with a QS1 last August at $3k, then got a Venture in January for $5k, then this past July got a Venture for $30k. I've never had a prequal with Capital One, but I did put significant use through each card before getting the next one.
Good luck!
@Anonymous wrote:
I had an $800 Cap1 platinum still in credit steps and scores way lower than yours. But it said I was prequalified for Venture and QS. Approved for Venture with 15k SL!
What were your stats at the time?
I would wait but that's me. If your credit profile remains relatively the same then your prequal shouldn't go away. Remember that Cap1 now offers combining CLs. You can always roll your lower limit cards into one to create a larger CL once they reach 6 months and have a zero balance. Please let us know what you decide. Best of luck!