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DENIED!! Captial one secured credit card, Question

Frequent Contributor

DENIED!! Captial one secured credit card, Question

Hi guys i have applied for Captial one secured credit card, the only reason i got denied was because of not enough income. when can i reapply again? and how much income do you need to qualify? thanks
Samsung mobile
Message 1 of 13
12 REPLIES
Valued Contributor

Re: DENIED!! Captial one secured credit card, Question


creditscoreEE wrote:
Hi guys i have applied for Captial one secured credit card, the only reason i got denied was because of not enough income. when can i reapply again? and how much income do you need to qualify? thanks

Sorry for your denial. I didn't know that income was a factor in secured cards. If you're securing the card with cash, if you don't pay, the bank will just take the money and close the account, so no loss to them. I'd like to know the reason for this as well.

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Message 2 of 13
Frequent Contributor

Re: DENIED!! Captial one secured credit card, Question

yeah the letter said it did not affect my credit score since my credit score was not checked which i find a little odd, but i think i will apply maybe in couple of months again.,, well see.
Samsung mobile
Message 3 of 13
Mega Contributor

Re: DENIED!! Captial one secured credit card, Question


creditscoreEE wrote:
yeah the letter said it did not affect my credit score since my credit score was not checked which i find a little odd, but i think i will apply maybe in couple of months again.,, well see.

Have you checked your reports for INQ's??




EQ FICO 548 3/3/16
Message 4 of 13
Frequent Contributor

to this site sorry. you mean my credit scores?Re: DENIED!! Captial one secured credit card, Question

sorry what is that? im new to this site you mean my credit scores?

Samsung mobile
Message 5 of 13
Mega Contributor

Re: to this site sorry. you mean my credit scores?Re: DENIED!! Captial one secured credit card, Ques


creditscoreEE wrote:

sorry what is that? im new to this site you mean my credit scores?


Pulled your reports to see if Cap1 did any hard inquiries?




EQ FICO 548 3/3/16
Message 6 of 13
Frequent Contributor

Re: to this site sorry. you mean my credit scores?Re: DENIED!! Captial one secured credit card, Ques

and no i didnt i dont have a monthly plan here buti dont think so.

Samsung mobile
Message 7 of 13
Frequent Contributor

Re: to this site sorry. you mean my credit scores?Re: DENIED!! Captial one secured credit card, Ques

A simpler way to describe what inquiries are, about how many times in the past have you applied for any form of credit?  And if you don't mind, what did you state as your income?  I have never heard of anyone getting denied a secured card because of income.

AE CC: $1,050 | AEO Visa: $1,890 | Cap1 QS: $2,100 | Chase Freedom: $1,000 | Citi Forward: $1,500 | Citi Double Cash: $1,000 | Discover iT: $500 | GameStop: $1,650 | Overstock: $1,700 | PayPal Smart Connect: $1,500 | Walmart $2,200

TU (Discover): 663 | EQ (Citi): 651
Message 8 of 13
Frequent Contributor

Re: to this site sorry. you mean my credit scores?Re: DENIED!! Captial one secured credit card, Ques

this is my first time applying for a credit card i am trying to build my credit i only have stdent loans deffered at the moment which i will be paying next month i might have put less than 15,000 but i dont remmeber. do you know of any other secured credit cards?

Samsung mobile
Message 9 of 13
Mega Contributor

Re: to this site sorry. you mean my credit scores?Re: DENIED!! Captial one secured credit card, Ques


creditscoreEE wrote:

this is my first time applying for a credit card i am trying to build my credit i only have stdent loans deffered at the moment which i will be paying next month i might have put less than 15,000 but i dont remmeber. do you know of any other secured credit cards?


BofA has a $99 deposit $500 CL card.

 

Not a bad choice! 




EQ FICO 548 3/3/16
Message 10 of 13