Credit Cards

[scarzy]

I had applied for their cash rewards card, and they did 3 hard pulls! Is this standard for them??

[namvet]

Yes this is standard operating practice for Cap One. 

[Jutz]

Yup, all three bureaus for every new product. 

[Duncanrr]

Number 1 reason why ill never get another cap1 product. If I had found myfico before I apped for my secure card with them I wouldn't have the one I have right now. No cap1 card is worth 3 HPs

[Epcot]

That stinks..

[rootpooty]

welcome to capital one

[CreditWorld2013]

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rootpooty wrote:

welcome to capital one

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Is your name Peggy by any chance?   

In all seriousness...I wish Capital One would warn applicants about the 3 inquiries. I'm okay even ok with a 2nd pull if the application is borderline but 3 is a bit much. 

[navigatethis12]

I don't really see why people hate this so much. It's not three on the same bureau, so to me it isn't that big of a deal. Many people on here seem to have negatives on some or one report instead of all of them. I reckon Capital One just wants to get all the information they can about the credit profile.

[bs6054]

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navigatethis12 wrote:

I don't really see why people hate this so much. It's not three on the same bureau, so to me it isn't that big of a deal. Many people on here seem to have negatives on some or one report instead of all of them. I reckon Capital One just wants to get all the information they can about the credit profile.

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Yes, I'm surprised that more lenders don't do this, for their own protection.  Giving all the gaming advice ("which CRA does bank X pull?") it seems to make sense for banks to pull from, and report to, all.  I assume there is additional costs to do this, which Cap One thinks is worth it (perhaps because they are good at giving credit to marginal cases) and others don't.

[CreditWorld2013]

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navigatethis12 wrote:

I don't really see why people hate this so much. It's not three on the same bureau, so to me it isn't that big of a deal. Many people on here seem to have negatives on some or one report instead of all of them. I reckon Capital One just wants to get all the information they can about the credit profile.

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I agree that they want the most info. The issue is that if every bank did a 3 pull if you wanted 3 accounts that would = 9 inquiries. Technically they are only 3 on each but 3 may be enough to start auto denying if you wanted a different product. For example, 10 months ago I started with Capital One. They did a 3 pull. Since I wanted to build credit I needed to get credit. Therefore, I applied to a few other places as well (Discover and Citi). I got denied over inquiries even just for having 2. In the end a recon got me approved for the Citi...but if people don't know they can do a recon they would accept the auto denial.