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Established Contributor
Posts: 712
Registered: ‎06-11-2012
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Capital One Cash Rewards

Hello everybody!

 

I'm in the process of rebuilding my credit and I took care of almost everything on my credit report already. I had a car repo that fell off my report this year and I PFD for almost all my collections except for one. I settled with one collection and it's still on file, but I am in the process of disputing on it cause it's still showing as an open account on my transunion report.

 

well, 4 months ago I applied for my first credit card with capital one and got a secured card with them. I'm on my 4th statement with them and I decided to apply for a second card with them which is the cash rewards card with an annual fee. I got a denial letter that made no sense......the reasons for denial were:

 

Based on the application information for BLAH BLAH, there are too many Capital One accounts

Based on the credit report from Equifax for BLAH BLAH, credit bureau information is missing or unavailable

Based on the credit report from Experian for BLAH BLAH, credit bureau information is missing or unavailable

Based on the credit report from Transunion for BLAH BLAH, credit bureau information is missing or unavailable

 

I tried the first backdoor number in the backdoor thread and the guy tells me capital one probably felt that one card is probably enough for me at the moment. I tried another number and he said he's gonna put me a recon for me and to wait 7-10 business days for answer because he sees that I only have one account with capital one.

 

Do you think my recent disputes had anything to do with my credit reports being missing and unavailable at the time I applied?

 

 


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Valued Contributor
Posts: 2,505
Registered: ‎11-11-2010
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Re: Capital One Cash Rewards

[ Edited ]

Basically, you are back to thin file once again. Thin file = very little credit information.

 

Right now you are no different than an 18 years old college student trying to get a credit card. Since your Capital One Secured CC is only on its 4th statement it conrtibutes very little to your credit report right now. I'm guessing CRA cannot even generate a credit score right now.

 

This is good though because it means you have a fresh start.

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Established Contributor
Posts: 1,837
Registered: ‎08-20-2012
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Re: Capital One Cash Rewards

+1

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Capital One Cash Rewards


eviLution wrote:

Hello everybody!

 

I'm in the process of rebuilding my credit and I took care of almost everything on my credit report already. I had a car repo that fell off my report this year and I PFD for almost all my collections except for one. I settled with one collection and it's still on file, but I am in the process of disputing on it cause it's still showing as an open account on my transunion report.

 

well, 4 months ago I applied for my first credit card with capital one and got a secured card with them. I'm on my 4th statement with them and I decided to apply for a second card with them which is the cash rewards card with an annual fee. I got a denial letter that made no sense......the reasons for denial were:

 

Based on the application information for BLAH BLAH, there are too many Capital One accounts

Based on the credit report from Equifax for BLAH BLAH, credit bureau information is missing or unavailable

Based on the credit report from Experian for BLAH BLAH, credit bureau information is missing or unavailable

Based on the credit report from Transunion for BLAH BLAH, credit bureau information is missing or unavailable

 

I tried the first backdoor number in the backdoor thread and the guy tells me capital one probably felt that one card is probably enough for me at the moment. I tried another number and he said he's gonna put me a recon for me and to wait 7-10 business days for answer because he sees that I only have one account with capital one.

 

Do you think my recent disputes had anything to do with my credit reports being missing and unavailable at the time I applied?

 

 


4 months is a very short time to apply for next card with them.   Wait until you have over a year then try the prequalify on there web site.   If you don't like what they offer, wait a few months and try again.

 

Established Contributor
Posts: 712
Registered: ‎06-11-2012
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Re: Capital One Cash Rewards


trumpet-205 wrote:

Basically, you are back to thin file once again. Thin file = very little credit information.

 

Right now you are no different than an 18 years old college student trying to get a credit card. Since your Capital One Secured CC is only on its 4th statement it conrtibutes very little to your credit report right now. I'm guessing CRA cannot even generate a credit score right now.

 

This is good though because it means you have a fresh start.


yeah, i was thinking that because the denial letter said it couldn't generate a credit score. i guess i'll wait til some of the 6 inquiries to fall off to apply again. i just wanted to at least have a second card with rewards to help me rebuild my credit. thanks everyone for your time ;D

 


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