08-05-2010 05:31 AM
I got an invitation in email to apply with my name on it and card number...that says:
Thanks for being a Capital One® customer since xxxxx 2005. Because you’re a great customer, we’d like to offer you an additional card that rewards you with 1.25 Miles per dollar on all of your purchases. Apply for the VentureOneSM card and you could enjoy features like
•1.25 Miles per dollar on every purchase, every day
•0% intro APR on purchases until July 2011, 13.9% after that
•No annual fee
Plus, you can redeem your Miles for flights, hotel rooms, car rentals, gift cards and more. Fly free on any airline, anytime with no blackout dates.
But this offer ends August 12, 2010—so don’t wait too long.
Start earning your Miles now!
When I click on the get started button it takes you to the website application for the Venture card, which says it is for people with excellent credit, and describes that as never having had a bankruptcy, etc. My BK doesn't fall off till next summer. I'd love the 0% APR and mileage so it's tempting to apply, but I think this is just a big advertising campaign and not an invitation based on my history with them,etc. (i.e. any type of prequalifying) What do other Cap 1 holders have to say? Are you getting this email from them too?
08-05-2010 06:05 AM
And one more question-if I use the prequalifying site for Cap 1, does it show as a hard inquiry? Sorry if I missed this info in another thread, but if anyone knows the answer I'd appreciate it!
08-05-2010 06:30 AM
The pre-qualify is a soft but if you actually apply for a Capitol One Card they pull a hard on all three bureaus.
08-05-2010 06:33 AM
08-05-2010 06:49 AM
I have had Crap1 since 2005 and I did not receive this letter, either. I do, however, receive multiple AWESOME "special" offers to do a balance transfer at my existing purchase rate ;-) heh
08-05-2010 09:27 AM
Been with Cap1 since '01 IIRC and did not receive this offer.
Sounds like a targeted offer.
08-06-2010 05:32 AM
I called and the csr said it is a targeted offer, but like any preapproval offer someone could still be denied. He said they were sending out offers to current customers based upon your history with them and what card they thought might be appropriate. I hate to take 3 inquiry hit for one application so I'm not sure I'll apply but it would be lower rate than I have on my other cards so it's tempting. Mostly I'm curious if the decision would weigh more heavily on the 5 years history with them, or the Bk on my report. If I apply I'll update as to the result.
08-06-2010 08:46 AM
Decided to apply, instant deny. Whatever "targeting" they were doing I guess their aim was off. Thanks everyone for replying. Kind of bummed but hope this info helps someone else in some way.
08-06-2010 09:09 AM
Don't sweat it, we all bite the bullet at one time doing a "preapproved" offer and got denied. lol You would think if you already had a relationship with a company and they send you (something you didn't ask for) an offer it would always be approved. Cap1 hasn't been good to me so it's a candy card, only use it for candy to keep it open
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.