Reply
Frequent Contributor
ronstar7
Posts: 403
Registered: ‎04-30-2013
0

Capital One Pre-qualified letter in the mail

Soooo, hello everyone I will keep this short and sweet. In 2 days I will have been in the garden for 3 months BUT then Cap 1 goes and sends me a letter with a reservation number and access code and says I am pre-qualifed for theit platinum after 5th payment I would get an increase. Went to the site entered the numbers given anf a box popped to confirm pre-qual but I closed it out.  I have a secured card with them in great standing will be a year in August. I check the pre-qual link EVERYDAY to see if I have anything. Always comes empty, but then I get the letter... Did an online chat w/ Cap 1 rep and she said she didnt see any offers that were sent to me. Scores are not that great below 600 for all three (not by much though) I know they pull all 3, question is do I bite the bullet and app or trash it.? Only other card I have beside store cards (via shooping cart trick)  is 1st Premier...I would love to finally have a good unsecured card to help my scores as they seem to just be sitting idle. Any help is greatly APPreciated (lol)



Experian 594 12/26/14 Goal 650



Epic Contributor
Creditaddict
Posts: 22,096
Registered: ‎10-23-2007
0

Re: Capital One Pre-qualified letter in the mail


ronstar7 wrote:

Soooo, hello everyone I will keep this short and sweet. In 2 days I will have been in the garden for 3 months BUT then Cap 1 goes and sends me a letter with a reservation number and access code and says I am pre-qualifed for theit platinum after 5th payment I would get an increase. Went to the site entered the numbers given anf a box popped to confirm pre-qual but I closed it out.  I have a secured card with them in great standing will be a year in August. I check the pre-qual link EVERYDAY to see if I have anything. Always comes empty, but then I get the letter... Did an online chat w/ Cap 1 rep and she said she didnt see any offers that were sent to me. Scores are not that great below 600 for all three (not by much though) I know they pull all 3, question is do I bite the bullet and app or trash it.? Only other card I have beside store cards (via shooping cart trick)  is 1st Premier...I would love to finally have a good unsecured card to help my scores as they seem to just be sitting idle. Any help is greatly APPreciated (lol)


I have found offers from capital one are the only way I apply to capital one!

and with scores below 600 INQ are not really going to hurt you accept if you are trying to get better cards soon... so if you are gardening for the next 6 months or so I would apply now!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Frequent Contributor
ronstar7
Posts: 403
Registered: ‎04-30-2013
0

Re: Capital One Pre-qualified letter in the mail


Creditaddict wrote:

ronstar7 wrote:

Soooo, hello everyone I will keep this short and sweet. In 2 days I will have been in the garden for 3 months BUT then Cap 1 goes and sends me a letter with a reservation number and access code and says I am pre-qualifed for theit platinum after 5th payment I would get an increase. Went to the site entered the numbers given anf a box popped to confirm pre-qual but I closed it out.  I have a secured card with them in great standing will be a year in August. I check the pre-qual link EVERYDAY to see if I have anything. Always comes empty, but then I get the letter... Did an online chat w/ Cap 1 rep and she said she didnt see any offers that were sent to me. Scores are not that great below 600 for all three (not by much though) I know they pull all 3, question is do I bite the bullet and app or trash it.? Only other card I have beside store cards (via shooping cart trick)  is 1st Premier...I would love to finally have a good unsecured card to help my scores as they seem to just be sitting idle. Any help is greatly APPreciated (lol)


I have found offers from capital one are the only way I apply to capital one!

and with scores below 600 INQ are not really going to hurt you accept if you are trying to get better cards soon... so if you are gardening for the next 6 months or so I would apply now!


Hello and thank you for the response!!!

 

No I am not aiming for any  big girl cards any time soon as I know I wouldnt get them even if if I took the reps to dinner lol. Yes I plan to stay in the garden as long as possible, I like it here and there are always free drinks!  I have just been going back and forth about applying since I know they pull all 3. Good to know my score wont get dinged too badly if I do though. Maybe I will have a glass of wine tonight get bold and do it lol. Then I thouhgt maybe I should PIF the highest cards I have first wait to let that utilization report then apply so they would see Im not maxing out. What do you think about that strategy?



Experian 594 12/26/14 Goal 650



Moderator
09Lexie
Posts: 26,624
Registered: ‎09-13-2012
0

Re: Capital One Pre-qualified letter in the mail

Before answering, what's your profile? Util, baddies etc? I posted a response to you in The GC thread as well.
Frequent Contributor
ronstar7
Posts: 403
Registered: ‎04-30-2013
0

Re: Capital One Pre-qualified letter in the mail


09Lexie wrote:
Before answering, what's your profile? Util, baddies etc? I posted a response to you in The GC thread as well.

I know lol, I just saw and answered you there :smileyhappy:



Experian 594 12/26/14 Goal 650



Moderator
09Lexie
Posts: 26,624
Registered: ‎09-13-2012
0

Re: Capital One Pre-qualified letter in the mail

[ Edited ]
@ronstar7 wrote:

Thank you for the response, yeah I am working on having some things removed wrote some GW's waiting on responses. Some things fell off but I think all I can do right now is get my utl down by paying down and possibly applying for this card to get more credit. Didnt get preapproved for anything else. Applied to Discover about 6 mos ago denied. Last app was 3 months ago to Walmart and was denied, also denied to JC Penny and I think Sears. Thats why I went in the garden... have a car loan but Ive gotten 3 30 day lates on it so far but even before that my scores were not moving old lien that is due to fall off next year (PIF). I do have alot of inq mostly Transunion. The rest is maybe one or two old collections and student loans that are all current. Never missed any payment on my CC's and always PIF or at least close to it.



When were the lates on the car? And what is your util?
Frequent Contributor
ronstar7
Posts: 403
Registered: ‎04-30-2013
0

Re: Capital One Pre-qualified letter in the mail

The first late is from Feb and the last two are from April and May of this year. All cleared up now but the as you know its still reporting late. Utl is 29% 



Experian 594 12/26/14 Goal 650



Regular Contributor
CenturyChild
Posts: 221
Registered: ‎08-06-2012
0

Re: Capital One Pre-qualified letter in the mail

[ Edited ]

I don't know if this will help or not, but I can fill you in on my recent approval for a Cap One Cash rewards card.

 

I too had the Secured card, and had it 10 months at the time of application. It was in good standing.

The Pre-Qual link on thier site always came up empty for me as well.

 

I apped anyway, for the CW card (Average Version) and was approved for $500 and $250 increase in 6 months (so $750 limit)

 

At the time of my app, I had 12 INQs on TU. (3 in last 6 months)

 

For baddies:

Unpaid tax Lien thats 3 years old

 

My FICO for TU was around a 654 I think.  It dropped from a 670 right before app due to higher utilization (at 24% at the time I apped)

 

 

I know this is no guarntee you get approved either, but maybe you can tell if your close to what I was.

 

Although you can still be denied with a letter, having the letter should mean you have a pretty good chance though. Better than just apping without.  I do think CapOne will put some wieght into your history with them so far to, so that will help significantly.

 

I got this card and Walmart Card for $700 on the same day.  But, I also have a good history started with GE from Amazon. So that may have been a factor here.

 

But I do not have any negatives other than the lien. No lates or missed payments etc on any of my accounts.

--Gardening until 12-2014--

Average Starting FICO 585 (6-12)
Current FICO 685 as of (3-14)
Moderator
09Lexie
Posts: 26,624
Registered: ‎09-13-2012
0

Re: Capital One Pre-qualified letter in the mail

Unfortunately, those recent lates and util are a killer - even for Cap 1 IMO. It looks like you want more credit and can't manage the debt you already have outstanding. Let some time between the lates before applying for a new cc. You might want to try GW letters too. After you've tackled the lates and your util - then app for a new cc.

Maybe not what you want to hear but going for cap 1 now is not in your best interest.
Frequent Contributor
ronstar7
Posts: 403
Registered: ‎04-30-2013
0

Re: Capital One Pre-qualified letter in the mail


CenturyChild wrote:

I don't know if this will help or not, but I can fill you in on my recent approval for a Cap One Cash rewards card.

 

I too had the Secured card, and had it 10 months at the time of application. It was in good standing.

The Pre-Qual link on thier site always came up empty for me as well.

 

I apped anyway, for the CW card (Average Version) and was approved for $500 and $250 increase in 6 months (so $750 limit)

 

At the time of my app, I had 12 INQs on TU. (3 in last 6 months)

 

For baddies:

Unpaid tax Lien thats 3 years old

 

My FICO for TU was around a 654 I think.  It dropped from a 670 right before app due to higher utilization (at 24% at the time I apped)

 

 

I know this is no guarntee you get approved either, but maybe you can tell if your close to what I was.

 

Although you can still be denied with a letter, having the letter should mean you have a pretty good chance though. Better than just apping without.  I do think CapOne will put some wieght into your history with them so far to, so that will help significantly.

 

I got this card and Walmart Card for $700 on the same day.  But, I also have a good history started with GE from Amazon. So that may have been a factor here.


Thank  you for the response, yeah you have less inq than me at the time of app and your score was way higher. I just find it strange that even though I got the letter the rep said they have no record of sending me on which makes me belive its not a true pre-qual even though it says it is.



Experian 594 12/26/14 Goal 650




myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}