cancel
Showing results for 
Search instead for 
Did you mean: 

Denied Capital One Secured Mastercard

Member
70.90.107.65

Re: Denied Capital One Secured Mastercard

Hey

 

I was in a similar situation as yours; I applied for the Wells-Fargo student and got it with a $1000 limit.

I did have a savings and checking account with them, and I’m sure this helped. Perhaps before you apply go and open a checking/savings account with them and ask to apply while you’re there.

In addition Wells-Fargo specificly allows you to use scholarships, grants ect as “income”

 

 

As an aside I have heard its hard to get CLIP with them, anyone know if this is true?

Message 11 of 36
Established Contributor
70.90.107.65

Re: Denied Capital One Secured Mastercard

ive heard that students CAN include scholarship monies in the INCOME section.

 

on a side note: i think ive read alot of fine print on cards where it states the minimum income is 10k. MAybe OP can re-configure income to include grants,scholarships to meet that requirement



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 Smiley Wink
Message 12 of 36
Valued Member
70.90.107.65

Re: Denied Capital One Secured Mastercard

Public records, personal online footprint, other webpages open during access to your application and their website...

 

CS 701, CK 682, Credit.com 719/ TU FICO 666 (DIS 8/12) EU FICO 658 (8/12)
After spree CS 738, CK 684, TU FICO 666 (Dis 8/5)

WF Secured 600Cl (7/11), Discover More 1.5k (8/12), Walmart 150CL(8/12), Cap1 Platinum w/Credit steps($300) (8/12)
Message 13 of 36
Valued Contributor
70.90.107.65

Re: Denied Capital One Secured Mastercard


janvanderm wrote:

Hey

 

I was in a similar situation as yours; I applied for the Wells-Fargo student and got it with a $1000 limit.

I did have a savings and checking account with them, and I’m sure this helped. Perhaps before you apply go and open a checking/savings account with them and ask to apply while you’re there.

In addition Wells-Fargo allows you to use scholarships, grants ect as “income”

 

 

As an aside I have heard its hard to get CLIP with them, anyone know if this is true?


+1...I've read a few posts of people getting preapproved for the card when opening an checking/savings account at WF. It's worth a shot.

 

Scores 5/15/2016 (clean reports!): TU Walmart FICO: 696 | EQ FICO: 679 | EX AMEX FICO: 680

In my new wallet: American Express Green EMV: PSL $2000 | BankAmericard Cash Rewards Visa EMV: $2500 | Citi AAdvantage Platinum Select World MasterCard: $6400 | Barclaycard Arrival World MasterCard: $1000 | Discover IT: $2500 | Amazon Rewards Visa Signature: $1500 | Chase Freedom: $1500 | Capital One QuicksilverOne MasterCard: $2100 | Target: $2800 | J.Crew $21,550 | Marvel (Captain America) MasterCard: $6000
Message 14 of 36
Valued Member
70.90.107.65

Re: Denied Capital One Secured Mastercard


gettnthere wrote:

ive heard that students CAN include scholarship monies in the INCOME section.

 

on a side note: i think ive read alot of fine print on cards where it states the minimum income is 10k. MAybe OP can re-configure income to include grants,scholarships to meet that requirement


Due to the new regulation you can not solely use money received after the college takes there part as income. Most CC companies actually say it now in the terms of service. Although as a student, especially with student cards.... You can stipulate "income" from say; parents, friends, side job...  Cap1 didn't consider my funds I receive after school feels, that was stated in the "other income" section.

 

CS 701, CK 682, Credit.com 719/ TU FICO 666 (DIS 8/12) EU FICO 658 (8/12)
After spree CS 738, CK 684, TU FICO 666 (Dis 8/5)

WF Secured 600Cl (7/11), Discover More 1.5k (8/12), Walmart 150CL(8/12), Cap1 Platinum w/Credit steps($300) (8/12)
Message 15 of 36
Established Member
70.90.107.65

Re: Denied Capital One Secured Mastercard

Hopefully you can app for another card. Capital One isn't the greatest CCC.  Perhaps you could even get a prime card.


Experian 715 (09/04/2013), T/U 706 (12/05/2013), Equifax 743 (12/05/2013).
Message 16 of 36
Member
70.90.107.65

Re: Denied Capital One Secured Mastercard

 
Message 17 of 36
Contributor
70.90.107.65

Re: Denied Capital One Secured Mastercard

Thanks for the replies.

 

I checked out the Wells Fargo cards again and hate the checking/savings account fees that are required for their secured card, but am still considering it.

 

Any thoughts on any other cards?  I'd hate to have to do another hard inquiry with the recent Cap1 one, and keep getting rejected over and over, but I do want to start somewhere Smiley Sad

 

Thanks again!


Goal Scores: 720+ (Experian Lender Pull 09/13): 733; Discover TU (01/14): 751; Walmart TU08 (02/14): 754;
WF Platinum (10/12) $1,600; WM Discover (12/12) $5,500; Amazon GE (12/12) $2,500; CapOne Quicksilver (12/12) $750; Discover IT (01/13) $1,000; Chase Amazon (02/13) $2,500; Citi Forward Student (02/13) $2,000; AMEX BCE (09/13) $15,000
Message 18 of 36
Contributor
70.90.107.65

Re: Denied Capital One Secured Mastercard

Do you guys think I have a shot at reconning with Capital One and maybe saying I'm a full time student too, or is it pretty much set in stone because of income?

 

Edit:

 

Also someone mentioned CapOne Journey card.  But wouldn't they have my income saved on file from the previous app if I was to suddenly include the other sources on there?


Goal Scores: 720+ (Experian Lender Pull 09/13): 733; Discover TU (01/14): 751; Walmart TU08 (02/14): 754;
WF Platinum (10/12) $1,600; WM Discover (12/12) $5,500; Amazon GE (12/12) $2,500; CapOne Quicksilver (12/12) $750; Discover IT (01/13) $1,000; Chase Amazon (02/13) $2,500; Citi Forward Student (02/13) $2,000; AMEX BCE (09/13) $15,000
Message 19 of 36
Contributor
70.90.107.65

Re: Denied Capital One Secured Mastercard

I got approve for my first credit card (with no history) a little over a year ago with only 8k in income.

 

 

 

Also while capital one suck, I bet you can get there jouney card and with 1.25% unlimited cash back its not that bad of a deal.

My ultimate credit wish,
a JP Morgan Palladium card
Message 20 of 36