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Let me get this straight = Cap-1 6 mth rule

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Anonymous
Not applicable

Re: Let me get this straight = Cap-1 6 mth rule


@Anonymous wrote:

@Anonymous wrote:

And honestly, if you get a CapOne w/a SL of $2k, you probably have the file to support better cards. 

 



Not necessarily.  I received a $3k SL on a Cap One Platinum when my scores averaged 619.  My scores 6 months prior were 780-790, but I hit a rough patch which did a lot of damage.  My scores and baddies prevented me from acquiring any good cards at the time and Cap One was the only one that would seemingly give me a chance... but in doing so they still gave me a decent SL considering my overall credit history IMO outside of the rough 6 months or so.


I agree, BBS. I got a $3000 SL and my scores one week later (when I started MyFICO subscription) were EQ 632, TU 576, EX 619. I doubt Discover or Barclaycard would have approved me then. After Cap1 started reporting, they went to EQ 659, TU 603, EX 668. I apped Discover and was approved for $1000 SL, but they saw the need to pull both EQ and EX, so even then they weren't quite sure about me. Then I was extremely surprised to get the NFL Extra Points for $3500 SL card at TU 603 when I did a "what the heck" app...still scratching my head over that approval, but I doubt they would have approved me when I was at TU 576.

Message 21 of 26
Anonymous
Not applicable

Re: Let me get this straight = Cap-1 6 mth rule


@cuthatcard wrote:

@FroggieMom wrote:

OP~ you may be confusing the 6 mo rule with Cap1 as it applies to CLI, not approvals for cards.  I have not read anywhere on the forum where Cap1 has a limit to the # of cards/time frame.  I do believe 4 total cards with them is the limit, but you could apply for 2 or more back to back and be approved if your file supported it.

 

But on the mailers, it was probably a timing thing.  Same thing happened to me with my AMEX upgrade, upgraded in May.. was still receiving solicitations both by snail mail and email to upgrade after I already had the card in my wallet.


Yep, bet that's it ! 

 

I've read 22,000 + post since getting back here, again,  in April and sometimes I get to wanting to do the "right thing" and ...all of this...runs together! ! 

 

I really only want a total of 3 cards and I'm not sure if the Platinum is the other card I need or want ! 

I do so appreciate Cap-1 for letting me in with the QS1 at a SL of $2,000.00, it floored me as I've been paying with cash, for yrs ! 

 

No way I'm getting on here and bash them, they've been great to me and it seems,  many others.  

I could take this offer and wait a few more months as I build but I sure hate 3 inq ! Have 3 on TU  (1 falls in December ), 1-EQ, 1 on EX. .those all belong to Cap-1 except 1 of the 2 on TU, ( Care Credit =Sync-Bank ). 

 

So yes, I think I'm mixed up, thanks for that !! 

 

 


Totally agree! I love Cap1 for giving me a chance when the only other one that would was Credit One. I will never say anything bad about them. In fact, one of the cards I plan on getting in the not so far future is the Venture card, then eventually PC it to the Quicksilver VS then roll my current QS balance into it. That is, if all that is possible. Smiley Happy

Message 22 of 26
Anonymous
Not applicable

Re: Let me get this straight = Cap-1 6 mth rule


@Anonymous wrote:


I agree, BBS. I got a $3000 SL and my scores one week later (when I started MyFICO subscription) were EQ 632, TU 576, EX 619. I doubt Discover or Barclaycard would have approved me then. After Cap1 started reporting, they went to EQ 659, TU 603, EX 668. I apped Discover and was approved for $1000 SL, but they saw the need to pull both EQ and EX, so even then they weren't quite sure about me. Then I was extremely surprised to get the NFL Extra Points for $3500 SL card at TU 603 when I did a "what the heck" app...still scratching my head over that approval, but I doubt they would have approved me when I was at TU 576.


Exactly.  Perfect example of someone getting a decent SL from Cap One when obtaining even a mere approval from one of the bigger names was quite unlikely.

Message 23 of 26
cuthatcard
Frequent Contributor

Re: Let me get this straight = Cap-1 6 mth rule

My QS1 SL of $2,000.00 has yet to report yet. So, after this happen AND..I'm awaiting the results of my dispute with EQ on a pd PR they refuse to update ( been nearly 7 months now), I will then go for the 3rd card, pre-equal or not ! 

 

Thanks,  for all this great information and self trials you guys have been through,  it's an eye opener !

FICO :November 2016
TU-761 EQ 756. EX - 749
No Baddies
QS1 -$2,000. Care Credit $9,600.00 CHASE Freedom $3,000.00 Discover IT $1,000.00
Inq TU 4 EQ 3 EX 2
Message 24 of 26
FroggieMom
Regular Contributor

Re: Let me get this straight = Cap-1 6 mth rule


@iheartwings wrote:

@cuthatcard wrote:

@FroggieMom wrote:

OP~ you may be confusing the 6 mo rule with Cap1 as it applies to CLI, not approvals for cards.  I have not read anywhere on the forum where Cap1 has a limit to the # of cards/time frame.  I do believe 4 total cards with them is the limit, but you could apply for 2 or more back to back and be approved if your file supported it.

 

But on the mailers, it was probably a timing thing.  Same thing happened to me with my AMEX upgrade, upgraded in May.. was still receiving solicitations both by snail mail and email to upgrade after I already had the card in my wallet.


Yep, bet that's it ! 

 

I've read 22,000 + post since getting back here, again,  in April and sometimes I get to wanting to do the "right thing" and ...all of this...runs together! ! 

 

I really only want a total of 3 cards and I'm not sure if the Platinum is the other card I need or want ! 

I do so appreciate Cap-1 for letting me in with the QS1 at a SL of $2,000.00, it floored me as I've been paying with cash, for yrs ! 

 

No way I'm getting on here and bash them, they've been great to me and it seems,  many others.  

I could take this offer and wait a few more months as I build but I sure hate 3 inq ! Have 3 on TU  (1 falls in December ), 1-EQ, 1 on EX. .those all belong to Cap-1 except 1 of the 2 on TU, ( Care Credit =Sync-Bank ). 

 

So yes, I think I'm mixed up, thanks for that !! 

 

 


I think you were right in the beginning.

 

There was a thread this summer about this new 6-month between approvals rule with Capital One, and I was able to find it:

 

http://ficoforums.myfico.com/t5/Credit-Card-Applications/New-Policy-for-Cap-1-Applications/m-p/46609...

 

I hope that helps. Looks like it's been in place since about June 1.

 


I stand corrected! Smiley Wink  I opened my last Cap1 card in Apr...I guess right before they made the switch so I really stopped following any posts on approvals from them.  I have just read countless posts about their staunch 6 mo CLI rule. 

 

Sorry OP for not knowing about this change!

Summer 2018 FICO 8 scores~
Gardening until 2019....at least
Message 25 of 26
FroggieMom
Regular Contributor

Re: Let me get this straight = Cap-1 6 mth rule

I stand corrected! Smiley Wink  I apologize OP for not knowing about the threads posted on this new rule.  I apped for my last Cap1 card back in April before this change in policy and also stopped following the approvals/apps page then so I never saw these posts about 1 card every 6 mo.  On the contrary, I've read a gazillion posts about their staunch stance on 1 CLI every 6 mo. Smiley LOL

Summer 2018 FICO 8 scores~
Gardening until 2019....at least
Message 26 of 26
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