I just got approved for a venture for 10K, and I have several student loan baddies from 2009. Also, my utilization was extremely high, in the 90% range, on my other credit cards. So, you never know...........
Here's what I'll say about CO: I've never seen a company so forgiving and willing to grow with you as your financial situation improves and as you show continued responsible use on their cards.
Brief history: Ch. 7 bankruptcy discharged 3 years ago after financial devestation from the recession. Current FICO scores 648-655. Current annual income is 6 figures.
My experience with Cap One and the Venture card goes like this: CO immediately gave me a platinum MC with a low SL after my ch.7 discharge. That card is now a QS One with a $4,000 CL. I've put a lot of use on that card in the past 3 years and PIF with multiple payments per month. In June of this year, I checked out the prequal site and was prequalified for the Venture card. I applied with instant approval with $20,000 SL and 17.9% APR. Just a few days ago, barely 2 months after opening the card, I hit the luv button and was granted a $10,000 CLI on that card for a total limit of $30,000 on the Venture card. I've been doing the same with the Venture card as with my QS One (tons of use, multiple payments, and always PIF).
Also, about 3 weeks ago, I applied for the Venture One and regular QS back-to-back. Received instant approval on both. Venture One $10k, QS VS $5k.
I'd say could have a decent chance, but then again who knows. CO is strange in that I've seen people with a much better credit profile than mine get rejected for the Venture Card.
Good luck and hopefully this just gives you another data point to consider!
Has anyone gotten a venture with charge off and collections? My score are 650s across the board, but I have charge offs and collections from 2012. These are my current cards at 10% utilization
Credit one 600
Care Credit 3000
Amex authorized user 9000
How long have you had the QuicksilverOne cards? What is your usage / payment pattern? How heavily do you use and then how fast do you pay these two cards?
Those are decent limits on those Capital One cards, and so even with 650's I'd say you are probably a lock for a Venture, at $5k.
Even if you decide to wait, I'd start using those cards often, paying in full each month, to build up your reputation with Capital One.