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Frequent Contributor
kkapdolee
Posts: 329
Registered: ‎09-17-2012
0

Capital One Quicksilver denial. Recon Advice?

Hi everyone,

 

I currently have 5 cards with CL greater than or equal to 5,000 from Chase, Amex, and PenFed some of which were instant approvals.

 

So Capital one was my first credit card ever that I opened a year and a half ago. I opened up for 300. It did an auto CLI to 500 after 6 months or something. Then it never went up and denied my CLI request.

 

I tried opening up a Capital One Quicksilver and was instantly denied. Seems like Cap1 hates me for some reason.

 

I talked to their executive office and they said the reasons were 1. short credit history, 2. too many inquiries, and 3. too many accounts with balance.

 

Reason number 3 is not right because I have never carries a balance before in any of my cards. I always paid in full each month.

The person explained that it could be a timing issue and at the time my CR was pulled, it must have shown balance as I had not due yet.

But same can be said about any other card. Why is Cap1 the only one denying me for it? I got instantly approved today for Amex Blue Sky today with 5k CL.

 

How should I go about dealing with Capital One to get this card?

 

Thanks.

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Established Contributor
thelethargicage
Posts: 621
Registered: ‎09-19-2012
0

Re: Capital One Quicksilver denial. Recon Advice?

How many of your cards close their statements with a balance? (Regardless of whether you PIF or not) Wait till all your inquiries fall off and apply again in a couple years.
      
"The family who apps together files for bankruptcy together." - Dave Ramsey
Valued Contributor
mauve
Posts: 2,487
Registered: ‎02-18-2010
0

Re: Capital One Quicksilver denial. Recon Advice?

Because they denied you, they have to provide you with a credit report if any of their reasons are related to it. And a score, if that was a factor. I believe Capital One gives you that in their message center and sends you a hard copy. Pull the report, see what it says. Then recon with what you see if it doesn't match what they said. 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


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Valued Contributor
FinStar
Posts: 5,821
Registered: ‎10-21-2012
0

Re: Capital One Quicksilver denial. Recon Advice?


mauve wrote:

Because they denied you, they have to provide you with a credit report if any of their reasons are related to it. And a score, if that was a factor. I believe Capital One gives you that in their message center and sends you a hard copy. Pull the report, see what it says. Then recon with what you see if it doesn't match what they said. 


Capital One does not provide individuals with a credit report.  If denied, the individual is entitled to obtain a free copy directly from the CRA that was used as part of their decision.  The denial letter would also provide a score as applicable.

OP - reconsideration efforts are a mixed bag and rare at best with Capital One.  If your CR (whichever was used) reflects the information based on those reasons provided, then work or improve on those points to position yourself to get approved in the future.

 

Valued Contributor
mauve
Posts: 2,487
Registered: ‎02-18-2010
0

Re: Capital One Quicksilver denial. Recon Advice?


FinStar wrote:

mauve wrote:

Because they denied you, they have to provide you with a credit report if any of their reasons are related to it. And a score, if that was a factor. I believe Capital One gives you that in their message center and sends you a hard copy. Pull the report, see what it says. Then recon with what you see if it doesn't match what they said. 


Capital One does not provide individuals with a credit report.  If denied, the individual is entitled to obtain a free copy directly from the CRA that was used as part of their decision.  The denial letter would also provide a score as applicable.

OP - reconsideration efforts are a mixed bag and rare at best with Capital One.  If your CR (whichever was used) reflects the information based on those reasons provided, then work or improve on those points to position yourself to get approved in the future.

 


Yeah, I definitely misspoke. Cap 1 has to give you a score if that's one of the reasons they denied you. And yes, you're entitled to a CR from the CRA in question. But my point is ultimately that 1) you can get some benefit from this and 2) if your CR doesn't reflect what they said they're denying you over, you could recon on that basis. 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


Take the myFICO Fitness Challenge
Valued Contributor
wHiTeSoL
Posts: 1,059
Registered: ‎07-09-2013
0

Re: Capital One Quicksilver denial. Recon Advice?

Since you stated you already have a Capital One card you might want to Email the E.O and get them to PC or just add rewards. It seems like many people are successful getting this perk and/or being moved over the the QS card anyways.


   3/12 $3500     6/12 $1200      10/12 $1500   12/12 $3400    6/13 $12000      7/13 $5000      7/13 $2500       8/13 $2000    8/13 $6000

  | CSP (AU) $12,000 | Amex PRG (AU) | United $6,000 | OCCU $12,000 | Ink Bold | GM $3,200 | DCU $7500 | Luthansa $9000 | SPG $6,000 | Citi AA Executive $11,000 | Ink Plus $5,000                                                                         | EX 2/7 697 | EQ 10/27 721 | TU 12/15 719 |

Epic Contributor
Creditaddict
Posts: 20,823
Registered: ‎10-23-2007
0

Re: Capital One Quicksilver denial. Recon Advice?

Are you sure you spoke to exc office because being told denial reasons is not typically what they would talk to you about, they would have a credit analyst review manually.
2. As someone stated if you already have an account you should ask exec office to PC that to quicksilver and cli

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