Did a pre-qual test at Cap1 site, any feedback on results?

[Anonymous]

"we weren’t able to locate any pre-qualified offers for you, but the offer below may fit your needs best"

No Hassle CashSM Rewards CardCapital One® Platinum PrestigeNo Hassle PointsSM Rewards CardNo Hassle CashSM Rewards Card

Any thoughts on those?

Scores hover around 700, not sure who they pull.  Experian just dropped my Cap1 (irony) CO from 01 corp card, so I should be at 720 or so.  Efx still has it but dropping soon, 720 or so.

Some also say with those scores to not apply for Cap1...

[Miner]

Last month, Capital One pulled all 3 of my scores.  By their definition I have Good Credit an applied for the corresponding No Hassle Cash Rewards Card and they gave me a $10k CL which was the max listed for that card and credit category (but I already have a CC with $11.5k CL which helped).  In my case, I have received numerous preapproval offers from them so they had no trouble finding one on their website.

The problem is you have only listed FAKO scores.  FAKO have no direct relation to your FICO scores which is what everyone uses.  In my case, my highest FICO score is my lowest FAKO score and the difference is almost 50 pts.  So its impossible to say what you could qualify for.  Most people would prefer a Chase or Citi card to Capital One, but they are harder to qualify for (need 685 or higher, the higher the better the acceptance rate is).  And who they pull depends on where you live.  Capital One is easier to get and their customer service isn't considered very good.  They have different credit tiers and you accounts don't seem to move into the next higher tier when your credit history improves (at least that is the case with their sub-prime cards).

I personally would like to get a CHase Freedom Card and even with my scores, I might consider applying for it if it wasn't for those 90+ day lates on my report.

Message Edited by Miner on 10-01-2008 12:05 PM

[score_building]

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@Miner wrote:

 ...if it wasn't for those 90+ day lates on my report.

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may i ask, how old are your lates?

[Miner]

All those really bad lates are from my Discover Card.  The last one was 120days late and happened Sept 2005 (3 years ago).  I became current with the account the next month and PIF this past March.  And it was obviously closed long before(2003).

[Anonymous]

Hmm sorry my signature is confusing, the only FAKOS are the old 500s.

Current scores all at or above 700 (well last time I checked).

TU has Cap1 7yo CO about to fall off any day and a 4 yo CA that falls off in 2 months otherwise clean.

Efx has the Cap1 7yo CO about to fall off, otherwise clean.

Experian has   a 4 year old Ballys CO and a paid judgment otherwise clean.

When I used to co Cap1 Pre-Approves all the cards were the low to medium credits (the $300 to $5,000 lines) this time it was their best card (the $500 to $20,000) line.

Just wondering if they'll pul report or check internally to see the CO that just dropped off...

For a $10k line I'd take the three pulls (CLs range from $3k to $10k now), for a decline of course not...

[Miner]

To get Capital One's Excellent Credit Rating, you need the following:

• I have had a loan or credit card for at least five years
• I have a credit card with a credit limit greater than $10,000
• I have never been more than 60 days late on a credit card, medical bill or loan payment <- This is the main trouble
• I have never declared bankruptcy

Their Good Credit Rating is easier:

• have had a loan or credit card for three years or more
• I have had a credit card with a credit limit above $5,000
• I have not been more than 60 days late on any credit card, medical bill, or loan in the last year

I don't know if you qualify for the top tier card with the CL up to 20K.  I know I don't.

Message Edited by Miner on 10-01-2008 12:23 PM

[Anonymous]

They gave me their "good" credit card, when I only had an 18 month history and my highest limit was $3000.00. Maybe those are just guidelines. I had nothing bad @ all my credit report, so I didn't really fit into the average category, so I shot for the good one and it worked.