Prequal for Venture, Interested in Spark

[Anonymous]

Hope everyone out in credit land is doing well!

I have been on the fence about applying for another capital one product (you guys seem to have multiples), especially because they hp all 3.  TU-7 (only 2 last 6 mos)  EX-6 EQ-2

GOAL:  a card with a decent limit (10k) with no foreign transaction fees. Venture seems to be the one to give em.  Another member here informed me that the 2% Spark business card would be accessible without a business as they do not ask for a taxpayer ID. So my theory here is to do this.  Possibly freeze my TU which has 7 inquiries  and apply for the Venture and the Spark right after the other.  I  do not want to have both of those cards added at the same time.  I am trying to groom my new Amex and would only be able to dedicate enough love to one more card.  

If I could have things be exactly how I wanted them, I would like to have the sign up bonus for the Venture, with a $10k limit. But not have to hem haw around with waiting until I have min points to call in and say oh, this item I purchased was while traveling can you please credit the purchase... I would have use for the miles tho.

I really just want to get the Venture while not wasting all these inquiries to see if I could qualify for the spark.  What should I do?  Apply for the spark first, if the limit is under $5k, call EO, or dont accept the offer, and finish the preapproval for the Venture? Doesnt cap1 EO usually have to HP a 2nd time for adjustments?  Would they even combine these application INQs later anyway?

My venture offer does list a specific APR 17.9 (my current qs will be 22.9 starting in october).  The credit pulls database shows scores lower than mine with limits mostly of 10k or 15k and a few 5k. The spark ones are much lower, around 2-5k. Again that database is a gamble...

Bottom line here, what do I really need?  I already have  a general spend card (qs).  I have access to discover and their double cash promo.  I have access to a 3% gas card.  I get 2.4%  on groceries with the amex. I don't need anything for amazon. As an avid extreme couponer the sign up bonus is appealing, plus the extra .5%, bogo movie tickets, etc.

I will respect the decision of the group.  The only reason I am even considering this is the venture preapproval. I would live without another card right now.  I just wont qualify for chase and have no interest in them until later..too risky.

[Anonymous]

Based on your thread here - http://ficoforums.myfico.com/t5/Business-Credit/Spark-Cash-without-business/td-p/4079255

The Spark is geared specifically for business and if you don't have a business, you are better off getting the Venture.  But if you want an Amex, then hold off applying all together.

Lastly, freezing reports in order to force a creditor to pull another one is something Myfico does not encourage.

[Anonymous]

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@Anonymous wrote:

Based on your thread here - http://ficoforums.myfico.com/t5/Business-Credit/Spark-Cash-without-business/td-p/4079255

The Spark is geared specifically for business and if you don't have a business, you are better off getting the Venture.  But if you want an Amex, then hold off applying all together.

Lastly, freezing reports in order to force a creditor to pull another one is something Myfico does not encourage.

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I was considering the blue cash but the MR points can be very valuable with the ED and EDP.  I am content with my current Amex for now.

Is this breaking a rule or something?  I mean if the creditor allows you to apply for a product, that specifically reports to personal CR, sounds like if they didn't want it, they wouldnt allow it.  I do sell things but it is not my primary source of income. No LLC or anything. But have considered the possibility of exploring that more.

I don't think I would want to deal with the hassle of freezing reports.  Never have done it. Probably never will. Was just pondering and parroting.

[myjourney]

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@Anonymous wrote:

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@Anonymous wrote:

Based on your thread here - http://ficoforums.myfico.com/t5/Business-Credit/Spark-Cash-without-business/td-p/4079255

The Spark is geared specifically for business and if you don't have a business, you are better off getting the Venture.  But if you want an Amex, then hold off applying all together.

Lastly, freezing reports in order to force a creditor to pull another one is something Myfico does not encourage.

---

I was considering the blue cash but the MR points can be very valuable with the ED and EDP.  I am content with my current Amex for now.

Is this breaking a rule or something?  I mean if the creditor allows you to apply for a product, that specifically reports to personal CR, sounds like if they didn't want it, they wouldnt allow it.  

I do sell things but it is not my primary source of income. No LLC or anything. But have considered the possibility of exploring that more.

I don't think I would want to deal with the hassle of freezing reports.  Never have done it. Probably never will. Was just pondering and parroting.

---

T/C 

The Business Signer and the Business, through the Business Signer, hereafter collectively referred to as “we”, hereby

1. Apply to Capital One Bank (USA), N.A. (Capital One®) and request that Capital One establish a Capital One Spark Business Credit Card account (“Account”) and issue a credit card on the Account to the Business Signer whose signature appears on this application and to all “Authorized Users” for whom additional cards are requested.
2. Agree to be bound by the terms and conditions of the Customer Agreement, and future revisions thereof that will be sent to us after the account is opened, including the provision therein that the Customer Agreement and the Account will be governed by Virginia and federal law.
3. Acknowledge and agree that all cards and convenience checks will be used solely for business or commercial purposes and not for personal, family or household purposes.
4. Agree that the Business and the Business Signer will be liable for all transactions made with all cards and convenience checks on the Account.
5. Acknowledge that each Authorized User is duly employed by the Business as of the date a card is requested for such Authorized User.
6. Agree to be individually, jointly and severally liable for all charges to the card(s) issued to the above Authorized Users.
7. Agree that the Business Signer and the Business, including all Authorized Users, may be contacted by Capital One from time to time regarding all cards and the account as described in the Customer Agreement.

That's what you agree to by hitting the submit button

Where they report to..... personal and business CR's I might add has no bearing of who they expect these cards to be for which is strictly businesses 

So essentially by not have a business and lying on app you can either say you bent the truth, didn't understand or flat out commit fraud 

Not worth it IMHO and risk having the account closed, rewards forfeit etc etc .....but that's just me and there are other 2% cards available for personal use 

[Anonymous]

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@myjourney wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Based on your thread here - http://ficoforums.myfico.com/t5/Business-Credit/Spark-Cash-without-business/td-p/4079255

The Spark is geared specifically for business and if you don't have a business, you are better off getting the Venture.  But if you want an Amex, then hold off applying all together.

Lastly, freezing reports in order to force a creditor to pull another one is something Myfico does not encourage.

---

I was considering the blue cash but the MR points can be very valuable with the ED and EDP.  I am content with my current Amex for now.

Is this breaking a rule or something?  I mean if the creditor allows you to apply for a product, that specifically reports to personal CR, sounds like if they didn't want it, they wouldnt allow it.  

I do sell things but it is not my primary source of income. No LLC or anything. But have considered the possibility of exploring that more.

I don't think I would want to deal with the hassle of freezing reports.  Never have done it. Probably never will. Was just pondering and parroting.

---

T/C 

The Business Signer and the Business, through the Business Signer, hereafter collectively referred to as “we”, hereby

1. Apply to Capital One Bank (USA), N.A. (Capital One®) and request that Capital One establish a Capital One Spark Business Credit Card account (“Account”) and issue a credit card on the Account to the Business Signer whose signature appears on this application and to all “Authorized Users” for whom additional cards are requested.
2. Agree to be bound by the terms and conditions of the Customer Agreement, and future revisions thereof that will be sent to us after the account is opened, including the provision therein that the Customer Agreement and the Account will be governed by Virginia and federal law.
3. Acknowledge and agree that all cards and convenience checks will be used solely for business or commercial purposes and not for personal, family or household purposes.
4. Agree that the Business and the Business Signer will be liable for all transactions made with all cards and convenience checks on the Account.
5. Acknowledge that each Authorized User is duly employed by the Business as of the date a card is requested for such Authorized User.
6. Agree to be individually, jointly and severally liable for all charges to the card(s) issued to the above Authorized Users.
7. Agree that the Business Signer and the Business, including all Authorized Users, may be contacted by Capital One from time to time regarding all cards and the account as described in the Customer Agreement.

That's what you agree to by hitting the submit button

Where they report to..... personal and business CR's I might add has no bearing of who they expect these cards to be for which is strictly businesses 

So essentially by not have a business and lying on app you can either say you bent the truth, didn't understand or flat out commit fraud 

Not worth it IMHO and risk having the account closed, rewards forfeit etc etc .....but that's just me and there are other 2% cards available for personal use 

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Alright. That is enough of a reason for me to nix the spark. I am an honest person. I just thought it was just part of the game, thats all.  That half percent would not be worth it if it was in jeopardy.  This is good to know. Thank you.

I was only trying to maximize the effects of multiple pulls. Not a big deal. If I do apply, however, I wont be applying for duplicates (a 2nd quicksilver) or non rewards card (platinum). Not worth it to me. I want the venture and eventually the citi double cash.

Citi sends me offers quite frequently with 0% for 12mos or 18 mos then 19% apr but I am going to wait until the final apr goes down a bit. More mailers for Diamond Preferred than Double Cash but get both. I guess I dont think of my credit as being good enough for Citi and I am not risking a denial this soon.

Thank you guys for keeping me in check!  I am thinking it is either going to help or hurt by waiting another month when my amex limit finally shows on my report, and the new CL on Amazon/Sams....

I am gonna say that I'd probably get approved for the venture, but its a 50/50 chance on the limit. 50% for 5k and 50% that its 10k.  And I REALLY dont want AMEX to deny my 3x CLI either!

[myjourney]

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@Anonymous wrote:

---

@myjourney wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

Based on your thread here - http://ficoforums.myfico.com/t5/Business-Credit/Spark-Cash-without-business/td-p/4079255

The Spark is geared specifically for business and if you don't have a business, you are better off getting the Venture.  But if you want an Amex, then hold off applying all together.

Lastly, freezing reports in order to force a creditor to pull another one is something Myfico does not encourage.

---

I was considering the blue cash but the MR points can be very valuable with the ED and EDP.  I am content with my current Amex for now.

Is this breaking a rule or something?  I mean if the creditor allows you to apply for a product, that specifically reports to personal CR, sounds like if they didn't want it, they wouldnt allow it.  

I do sell things but it is not my primary source of income. No LLC or anything. But have considered the possibility of exploring that more.

I don't think I would want to deal with the hassle of freezing reports.  Never have done it. Probably never will. Was just pondering and parroting.

---

T/C 

The Business Signer and the Business, through the Business Signer, hereafter collectively referred to as “we”, hereby

1. Apply to Capital One Bank (USA), N.A. (Capital One®) and request that Capital One establish a Capital One Spark Business Credit Card account (“Account”) and issue a credit card on the Account to the Business Signer whose signature appears on this application and to all “Authorized Users” for whom additional cards are requested.
2. Agree to be bound by the terms and conditions of the Customer Agreement, and future revisions thereof that will be sent to us after the account is opened, including the provision therein that the Customer Agreement and the Account will be governed by Virginia and federal law.
3. Acknowledge and agree that all cards and convenience checks will be used solely for business or commercial purposes and not for personal, family or household purposes.
4. Agree that the Business and the Business Signer will be liable for all transactions made with all cards and convenience checks on the Account.
5. Acknowledge that each Authorized User is duly employed by the Business as of the date a card is requested for such Authorized User.
6. Agree to be individually, jointly and severally liable for all charges to the card(s) issued to the above Authorized Users.
7. Agree that the Business Signer and the Business, including all Authorized Users, may be contacted by Capital One from time to time regarding all cards and the account as described in the Customer Agreement.

That's what you agree to by hitting the submit button

Where they report to..... personal and business CR's I might add has no bearing of who they expect these cards to be for which is strictly businesses 

So essentially by not have a business and lying on app you can either say you bent the truth, didn't understand or flat out commit fraud 

Not worth it IMHO and risk having the account closed, rewards forfeit etc etc .....but that's just me and there are other 2% cards available for personal use 

---

Alright. That is enough of a reason for me to nix the spark. I am an honest person. I just thought it was just part of the game, thats all.  That half percent would not be worth it if it was in jeopardy.  This is good to know. Thank you.

I was only trying to maximize the effects of multiple pulls. Not a big deal. If I do apply, however, I wont be applying for duplicates (a 2nd quicksilver) or non rewards card (platinum). Not worth it to me. I want the venture and eventually the citi double cash.

Citi sends me offers quite frequently with 0% for 12mos or 18 mos then 19% apr but I am going to wait until the final apr goes down a bit. More mailers for Diamond Preferred than Double Cash but get both. I guess I dont think of my credit as being good enough for Citi and I am not risking a denial this soon.

Thank you guys for keeping me in check!  I am thinking it is either going to help or hurt by waiting another month when my amex limit finally shows on my report, and the new CL on Amazon/Sams....

I am gonna say that I'd probably get approved for the venture, but its a 50/50 chance on the limit. 50% for 5k and 50% that its 10k.  And I REALLY dont want AMEX to deny my 3x CLI either!

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Waiting never hurts IMHO 

It allows for more history and scores to grow which ultimately can lead to better results on future apps 

[Anonymous]

I have receieved my SEVENTH citi offer.

This one says You are PRE SELECTED with 0%apr for 21 months then 12.99% apr thereafter.

I'd honestly prefer their double cash. My previous offers have been for the diamond preferred or the double cash (once) with 19% apr and 0% for 12 months.

Now I am really tempted to wait until my doublecash mailer almost expires in august, and app for that instead.  So now its official.  Cap1 Venture or Citi DC.

Which of these two do you think would give higher limits? Based on the info I have seen, citi usually only gives 5k+ limits to those with credit above 740.  Probably better wait a month or two, app for the venture, then save the citi for later?

[kdm31091]

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@Anonymous wrote:

Based on your thread here - http://ficoforums.myfico.com/t5/Business-Credit/Spark-Cash-without-business/td-p/4079255

The Spark is geared specifically for business and if you don't have a business, you are better off getting the Venture.  But if you want an Amex, then hold off applying all together.

Lastly, freezing reports in order to force a creditor to pull another one is something Myfico does not encourage.

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Agree that freezing reports to get a certain pull is IMO, unethical and not the road to go down but you have to do what you think is best.

It's more than just "geared for business"....you aren't allowed/supposed to get it without having a business. Of course people probably skate around that, but realistically, it's in the terms and if they ever found out, they could easily close your card.

Anyway, OP, if you don't have a business, go with the Venture though I don't know why people want to pay an AF for 2% back only redeemable on travel. A Quicksilver or Double Cash is a better choice IMO.

[Themanwhocan]

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@Anonymous wrote:

I have receieved my SEVENTH citi offer.

This one says You are PRE SELECTED with 0%apr for 21 months then 12.99% apr thereafter.

I'd honestly prefer their double cash. My previous offers have been for the diamond preferred or the double cash (once) with 19% apr and 0% for 12 months.

Now I am really tempted to wait until my doublecash mailer almost expires in august, and app for that instead.  So now its official.  Cap1 Venture or Citi DC.

Which of these two do you think would give higher limits? Based on the info I have seen, citi usually only gives 5k+ limits to those with credit above 740.  Probably better wait a month or two, app for the venture, then save the citi for later?

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Have you been using the Citi pre qualification check? I always get one of those offers in the mail each time I check for pre qualififications online.

[Anonymous]

No I haven't because it never works. It says error yet works for other people