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Valued Contributor
FinStar
Posts: 6,108
Registered: ‎10-21-2012
0

Re: got my 1st denial in a long time...


bigblue7722 wrote:

dbutz1109 wrote:

Like @drkaje said, 2012 is pretty recent and you said there were a ton of lates, which will weigh even more on the decision to decline. Just ride it out and let the penalty of lates on your CR lessen over time.

 

On a side note, I feel like the Cap1 Quicksilver has been giving quite a few denials, can anyone back this up?

 

Cheers!


I know there are a ton of lates but how can I get approved for the barclaycard average credit and the paypal smart connect? I have read who gave me credit so many people had bk that were less than two years old and people who have burned capital one in the past and still got approved for capital one qs cards


Simple - every lender's u/w criteria is different.  Capital One is not Barclays, and Barclays is not GECRB.  Plus, take a look at the APRs you are receiving with both of those products - not very stellar.

Valued Contributor
FinStar
Posts: 6,108
Registered: ‎10-21-2012
0

Re: got my 1st denial in a long time...


tinuviel wrote:

09Lexie wrote:

bigblue7722 wrote:

Well I got greedy. Last Tuesday I was approved for the barclaycard rewards, then on Sunday I was approved for paypal smart connect. Before that I was approved for every card or secured card I applied for. I was orignally going to wait to apply for the capital one quicksilver card ,but after hours of looking at whogavemecredit and creditkarma I said I have to try because this way I can get all my apps out of the way and basically garden for all of 2014. I have had my capital one secured card for almost ten months used it a lot, paid in full and on time every month. Also, I have received an unsecured increase of 300 dollars which from what I have read is kinda unheard of with capital one most people dont get an unsecured increase or if they do its just 100 dollars.

 

 I already called the backdoor numbers its like talking to a robot  who has a human voice. I sent an email to the ceo I have not heard back yet which is kinda odd they usually call within 24 hours. But I was so frustrated last night I messaged them on facebook and I finally got someone who is not a robot. I told the person that I just want my credit line to be 300 so basically asking if they can move my unsecured line to the quicksilver card and then close my secured card. I told them if they can't get me approved I just want to close my secured card take my 1k dollars and just take my business elsewhere. The person said that they might have an answer for me as soon as today and the fact that they want me to grow with capital one. I am not sure what else I could have done short of waiting a year as I said I just wanted to get the app out of the way and I really thought I would get approved.

 

Is what I am asking for crazy? I have one bad account on my credit report it is sallie mae student loan with a ton of lates on it from 2012, but I do not owe anyone anything on my credit report everything is paid off except for the 2% I show on one of my cards every month. My current scores are 655 from myfico eq and 670 from tu 08 barclaycard. I know a lot of people have been approved with way lower scores than that for the quicksliver card and yes i did apply for the average credit version with the af.


Just so I'm clear, you applied for QS and not QS1?

If so, your credit profile is not ready for the QS and Cap1 does not combine CL's.

 With a ton of lates , new TLs, and a scores in the mid 600's - patience is in order. 


Agreed. This sounds like a situation that calls for gardening.


I concur with all the other posters.

Frequent Contributor
MissCredit9
Posts: 419
Registered: ‎08-08-2013
0

Re: got my 1st denial in a long time...

When i got approved for my Quicksilver One (w/ annual fee, avg credit) I had had a secured car with Cap1 for 9 months with 1300 CL (like you, 1000 secured and 300 unsecured). I only got approved for a measly 500 dollars in spite of having no baddies. There's a good chance your lates and recently opened tradelines/ inquiries had an effect on your denial but I wouldnt sweat it. Even if your profile had been slightly better you would still likely have been stuck with a low limit worthless tradeline that is notorious for slow growth. Cap 1 is extremely conservative in their lending practices.

AMEX PRG NPSL, CITI DIAMOND PREFERRED 20K, FIDELITY AMEX 20K, CHASE SAPPHIRE PREFERRED 15K, AMEX DELTA SKYMILES GOLD 6K, CHASE MARRIOTT PREMIER 5K, BARCLAYCARD REWARDS MASTERCARD 4K, CAPITAL ONE QUICKSILVER 3K, AMAZON STORECARD 6K, VICTORIAS SECRET 1050, EXPRESS NEXT 650
Valued Contributor
bigblue7722
Posts: 1,251
Registered: ‎05-17-2013
0

Re: got my 1st denial in a long time...

[ Edited ]

FinStar wrote:

bigblue7722 wrote:

dbutz1109 wrote:

Like @drkaje said, 2012 is pretty recent and you said there were a ton of lates, which will weigh even more on the decision to decline. Just ride it out and let the penalty of lates on your CR lessen over time.

 

On a side note, I feel like the Cap1 Quicksilver has been giving quite a few denials, can anyone back this up?

 

Cheers!


I know there are a ton of lates but how can I get approved for the barclaycard average credit and the paypal smart connect? I have read who gave me credit so many people had bk that were less than two years old and people who have burned capital one in the past and still got approved for capital one qs cards


Simple - every lender's u/w criteria is different.  Capital One is not Barclays, and Barclays is not GECRB.  Plus, take a look at the APRs you are receiving with both of those products - not very stellar.


I understand they are different u/w but u must admit they are in the same class of cards. Also, I have had my capital one card longer than any other card and they are my highest tradeline that has to mean something comapred to two companies that dont know me at all...I dont care about the apr they can charge me whatever I never leave a balance I just want to get my foot in the door and work my way up. Just as an update capital one messaged me back saying there are working with a "special group" to override my application. I got my fingers crossed but I am not getting my hopes up

TU08 Fico Score (689)-Goal Score-(750)
AMEX PRG NPSL,CSP $6000, AMEX BCE $5000, Chase Marriott $5000,Chase Hyatt $5000, Capital One Quicksliver $3500,Chase Freedom $3200, Discover it $3000,Paypal smart connect $3000, Sallie Mae Mastercard $2900
Super Contributor
enharu
Posts: 7,008
Registered: ‎02-27-2013
0

Re: got my 1st denial in a long time...

[ Edited ]

bigblue7722 wrote:

FinStar wrote:

bigblue7722 wrote:

dbutz1109 wrote:

Like @drkaje said, 2012 is pretty recent and you said there were a ton of lates, which will weigh even more on the decision to decline. Just ride it out and let the penalty of lates on your CR lessen over time.

 

On a side note, I feel like the Cap1 Quicksilver has been giving quite a few denials, can anyone back this up?

 

Cheers!


I know there are a ton of lates but how can I get approved for the barclaycard average credit and the paypal smart connect? I have read who gave me credit so many people had bk that were less than two years old and people who have burned capital one in the past and still got approved for capital one qs cards


Simple - every lender's u/w criteria is different.  Capital One is not Barclays, and Barclays is not GECRB.  Plus, take a look at the APRs you are receiving with both of those products - not very stellar.


I understand they are different u/w but u must admit they are in the same class of cards. Also, I have had my capital one card longer than any other card and they are my highest tradeline that has to mean something comapred to two companies that dont know me at all...I dont care about the apr they can charge me whatever I never leave a balance I just want to get my foot in the door and work my way up. 


you may feel they're in the same class of cards, but they are different companies with different policies on risk management.

 

CapitalOne is your highest tradeline because it's also your oldest card, like you've said. You didn't get that CL overnight; it took months / years before they eventually trusted you with that amount of money. Other banks have very limited data on you, so it's only natural they remain skeptical. Would you be more comfortable lending money to your best friend, or some random elementary schoolmate that you have not kept in contact with for the past decades?

 

Edit: Just noticed your Cap1 card is partially secured as well, so that somewhat explain things as well....

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Contributor
bigblue7722
Posts: 1,251
Registered: ‎05-17-2013
0

Re: got my 1st denial in a long time...


enharu wrote:

bigblue7722 wrote:

FinStar wrote:

bigblue7722 wrote:

dbutz1109 wrote:

Like @drkaje said, 2012 is pretty recent and you said there were a ton of lates, which will weigh even more on the decision to decline. Just ride it out and let the penalty of lates on your CR lessen over time.

 

On a side note, I feel like the Cap1 Quicksilver has been giving quite a few denials, can anyone back this up?

 

Cheers!


I know there are a ton of lates but how can I get approved for the barclaycard average credit and the paypal smart connect? I have read who gave me credit so many people had bk that were less than two years old and people who have burned capital one in the past and still got approved for capital one qs cards


Simple - every lender's u/w criteria is different.  Capital One is not Barclays, and Barclays is not GECRB.  Plus, take a look at the APRs you are receiving with both of those products - not very stellar.


I understand they are different u/w but u must admit they are in the same class of cards. Also, I have had my capital one card longer than any other card and they are my highest tradeline that has to mean something comapred to two companies that dont know me at all...I dont care about the apr they can charge me whatever I never leave a balance I just want to get my foot in the door and work my way up. 


you may feel they're in the same class of cards, but they are different companies with different policies on risk management.

 

CapitalOne is your highest tradeline because it's also your oldest card, like you've said. You didn't get that CL overnight; it took months / years before they eventually trusted you with that amount of money. Other banks have very limited data on you, so it's only natural they remain skeptical. Would you be more comfortable lending money to your best friend, or some random elementary schoolmate that you have not kept in contact with for the past decades?

 

Edit: Just noticed your Cap1 card is partially secured as well, so that somewhat explain things as well....

 


IF i had a 1300 dollar capital one unsecured card I would really be going crazy lol. But i do agree with you I would rather lend money to my best friend which in this case would be capital one. Credit lines can always grow apr can always go lower but a denial is almost always a denial.

TU08 Fico Score (689)-Goal Score-(750)
AMEX PRG NPSL,CSP $6000, AMEX BCE $5000, Chase Marriott $5000,Chase Hyatt $5000, Capital One Quicksliver $3500,Chase Freedom $3200, Discover it $3000,Paypal smart connect $3000, Sallie Mae Mastercard $2900
Valued Contributor
bigblue7722
Posts: 1,251
Registered: ‎05-17-2013
0

Re: got my 1st denial in a long time...

Still no update from capital one about overriding the app. I got my fingers crossed what a christmas present it would be lol.  Im gonna facebook them again monday if i dont hear anything before then.

TU08 Fico Score (689)-Goal Score-(750)
AMEX PRG NPSL,CSP $6000, AMEX BCE $5000, Chase Marriott $5000,Chase Hyatt $5000, Capital One Quicksliver $3500,Chase Freedom $3200, Discover it $3000,Paypal smart connect $3000, Sallie Mae Mastercard $2900
Senior Contributor
SunriseEarth
Posts: 4,157
Registered: ‎08-12-2013
0

Re: got my 1st denial in a long time...

It's frustrating, but probably a sign that you need to garden.


Start: 619 (Wally, 9/2013) | Current: 669 (Wally, 10/6/14), 703 (EQ myFICO 8/13/14)
Care Credit $10200 | Walmart Store $5000 | AMEX BCE $4500 | Cap 1 QS1 $4000 | JCP $3900 | AMEX Costco TE $3500 | Macy's Special Events $2900 | Macy's Revolving $2500 | CU Visa $2500 | Sony Card $2500 | Amazon Store $1800 | Citi DC WMC $1200 | Merrick $1200 | Target $1000 | VS $850 | Gold Violin $850 ~~Gardening Since 8/28/14
Valued Contributor
bigblue7722
Posts: 1,251
Registered: ‎05-17-2013
0

Re: got my 1st denial in a long time...


SunriseEarth wrote:

It's frustrating, but probably a sign that you need to garden.


im garding till next december when discover it and chase freedom do their spend 500 get 200 cash back or something similar

TU08 Fico Score (689)-Goal Score-(750)
AMEX PRG NPSL,CSP $6000, AMEX BCE $5000, Chase Marriott $5000,Chase Hyatt $5000, Capital One Quicksliver $3500,Chase Freedom $3200, Discover it $3000,Paypal smart connect $3000, Sallie Mae Mastercard $2900
New Contributor
maximiliano
Posts: 65
Registered: ‎11-25-2013
0

Re: got my 1st denial in a long time...

[ Edited ]

Wbigblue7722 wrote:

Well I got greedy. Last Tuesday I was approved for the barclaycard rewards, then on Sunday I was approved for paypal smart connect. Before that I was approved for every card or secured card I applied for. I was orignally going to wait to apply for the capital one quicksilver card ,but after hours of looking at whogavemecredit and creditkarma I said I have to try because this way I can get all my apps out of the way and basically garden for all of 2014. I have had my capital one secured card for almost ten months used it a lot, paid in full and on time every month. Also, I have received an unsecured increase of 300 dollars which from what I have read is kinda unheard of with capital one most people dont get an unsecured increase or if they do its just 100 dollars.

 

 I already called the backdoor numbers its like talking to a robot  who has a human voice. I sent an email to the ceo I have not heard back yet which is kinda odd they usually call within 24 hours. But I was so frustrated last night I messaged them on facebook and I finally got someone who is not a robot. I told the person that I just want my credit line to be 300 so basically asking if they can move my unsecured line to the quicksilver card and then close my secured card. I told them if they can't get me approved I just want to close my secured card take my 1k dollars and just take my business elsewhere. The person said that they might have an answer for me as soon as today and the fact that they want me to grow with capital one. I am not sure what else I could have done short of waiting a year as I said I just wanted to get the app out of the way and I really thought I would get approved.

 

Is what I am asking for crazy? I have one bad account on my credit report it is sallie mae student loan with a ton of lates on it from 2012, but I do not owe anyone anything on my credit report everything is paid off except for the 2% I show on one of my cards every month. My current scores are 655 from myfico eq and 670 from tu 08 barclaycard. I know a lot of people have been approved with way lower scores than that for the quicksliver card and yes i did apply for the average credit version with the af.


Which number did you call for the recon?? I called Cap One EO and they were really nice about it. It took them a long time to finally give me an answer though, like 5 days I believe.

 

 

mod edit-Number


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