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how likely Capital One will give me a credit line

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eric19k
Established Contributor

how likely Capital One will give me a credit line

Just a month and a half ago I applied 4 times for capital one CC.
Well today I decided to apply again and see what happens. Booom! Got a decline message. Well went to smoke a cigarette and while smoking was cursing and blaming myself. Then I logged in and searched forum for similar stories, found EO number, called and spoke to a nice guy.
He asked income, rent questions and then he said within 5-7 days someone will be calling me and he submitted my application. So i wonder how likely they will approve me?
TU Scores:
May 2014- 466
July 2014- 537
September 2014- 602
Goal Scores- 720 by March 2014
Message 1 of 14
13 REPLIES 13
thelastoneonearth
Contributor

Re: how likely Capital One will give me a credit line

You should try getting the Secured Credit Card. You put your own money and it gives you that same amount as a credit limit. Try not applying so frequently.  They'll think you're desparate. Good luck though Smiley Happy

Capital One Secured Platinum $750.00, Amazon Store Card $500.00, AEO Visa $4000.00, PlayStation Credit Card $500.00, My BestBuy Platinum MasterCard $1000.00 Amazon Chase $500.00 Discover IT $1500. Chase Disney Premier Visa $5000. Barclays Carnival Cruise MasterCard $500 Bank of America Norwegian Visa Signature $1500 "Apple Card" $1700 Chase Sapphire Preferred $5,000

My future card list:
Amex BCE
Citi Hilton Honors
AAOA 1.2years
Message 2 of 14
Membersince2013
Valued Contributor

Re: how likely Capital One will give me a credit line


@eric19k wrote:
Just a month and a half ago I applied 4 times for capital one CC.
Well today I decided to apply again and see what happens. Booom! Got a decline message. Well went to smoke a cigarette and while smoking was cursing and blaming myself. Then I logged in and searched forum for similar stories, found EO number, called and spoke to a nice guy.
He asked income, rent questions and then he said within 5-7 days someone will be calling me and he submitted my application. So i wonder how likely they will approve me?

Seems like you applied yet again and it going to be yet another hard pull. Try to limit you apping. Not only does it make you look desperate, it also reduces your score and makes it even harder for you to get prime cards. Which card are you apping for?

Arrival+ | Barclaycard Rewards Mastercard | Citi Double Cash | CapOne QS (2) | Citi Diamond P | Freedom | Fidelity Amex | Amex Plat | Old Blue Cash | PRG | SPG | BCP | HHonors Surpass | Cap1 Venture | Discover | CSP | Cap1 Venture1 | BOA CR&TR (2) | Ritz Carlton | Southwest Rapid Rewards | Hyatt (2) | US Airways Mastercard (2) | Wells Fargo Rewards Visa | Marriott Premier (2) |

Fico Scores as of 2/21/15 - EX: total crap, TU: total crap, EQ: total crap
Message 3 of 14
--HighHopes--
Regular Contributor

Re: how likely Capital One will give me a credit line


@eric19k wrote:
Just a month and a half ago I applied 4 times for capital one CC.
Well today I decided to apply again and see what happens. Booom! Got a decline message. Well went to smoke a cigarette and while smoking was cursing and blaming myself. Then I logged in and searched forum for similar stories, found EO number, called and spoke to a nice guy.
He asked income, rent questions and then he said within 5-7 days someone will be calling me and he submitted my application. So i wonder how likely they will approve me?

Which of the CapOne cards are you applying for?  That makes a big difference on your chances, but I will def. agree with the above posts.  You really need to take it slow on the apps especially when you're getting denials.  You have multiple hard pulls on your credit report and no new accounts which tells other lenders you're desperately seeking new credit and noone is approving you.  Believe me I know how hard it is as I myself have just in the past year started to build my credit portfolio up and I know how eager you get to get there fast and how hard it is to resist the urge to keep apping even though you're not getting anywhere, but the painful truth is there is NO fast or easy way...just time and patience and you WILL prevail!  It sounds as if you did another app over the phone rather than a recon.  Hopefully they won't do another hard pull, but at any rate regardless of whether they do another or not the fact remains if you do get approved thats great news.  Take it and garden it to get your scores up and let those hard pulls age some so you can set yourself up for more prime cards in the future.  If you don't get approved then I would highly recommend the secure cards like one of the other posters mentioned as that is a GREAT way to raise your scores, however, if you don't have the funds to do that there is always Credit One who just about approves anyone in the 500's.  Due be advised though that they are very low end cards and have a lot of fees and high APR's.  A lot on here don't like them and speak against them and although I wouldn't recommend them to anyone with any other alternative I did personally have them and they def. served the purpose I got them for and that was to get me started and raise my score enough to app and be approved for more prime cards and then I let them go before the annual fee was due.

 

This forum is AMAZING at educating you on how to handle and maintain and improve any credit so you're in the right placeSmiley Happy  Just keep reading around the forum and you will uncover a wealth of information regarding all aspects of credit!  Good Luck to you in your credit journey!!  Smiley Happy




Message 4 of 14
MT936
Established Contributor

Re: how likely Capital One will give me a credit line

Looking at your current score I think it would be best if you applied for their secured card and manage that for a year before applying for a unsecured. You are taking unecesary hard pulls each and every time you apply for one of their cards which is only harming you.

Amex Blue Cash Everyday: $25,000 | Navy FCU Cash Rewards: $25,000 | Discover It: $20,500
Chase Freedom: $12,500 | Citi Double Cash: $10,000 | Bank of America Cash Rewards: $8,000

Message 5 of 14
eric19k
Established Contributor

Re: how likely Capital One will give me a credit line

Thank you for your advices. This is the last card before I garden and take a vacation from credit rebuilding.
Currently my scores in the low 600s. I have some hard pulls around 6.
Currently I have 4 revolving and 1 installement lines.
Currently Goodwilling 2 charge offs, fighting MCM and Verizon.
Well no matter what is going to be I will post a result.
TU Scores:
May 2014- 466
July 2014- 537
September 2014- 602
Goal Scores- 720 by March 2014
Message 6 of 14
Dalanar
Regular Contributor

Re: how likely Capital One will give me a credit line

Good luck to you.  Hopefully, 5th time the charm.  The guy you spoke to wasn't Yuri was it?

Experian: 729 Equifax: 740 Transunion: 732
Capital One Mastercard: $0.4K, Capital One Quicksilver: $5K, Chase Southwest Premier: $7.5K, Amex Blue Cash Everyday: $24.9K, Discover It: $9.4K, Chase Sapphire Preferred: $16.9K, Citi Hilton HHonors Reserve: $7.7K, Arrival+ BarclayCard MC WE: $7.5K
Message 7 of 14
eric19k
Established Contributor

Re: how likely Capital One will give me a credit line

Sorry I didn't catch his name.
So here is an update:
So I had alerts and it was Cap1 HP on all three bureaus. After that someone called and asked some questions again, was very nice and asked to fax proof of income and said that probably they will get back to me by next week.
Don't know where it's going to lead but at least I had a very nice experience with Cap1. Customer service is 8/10.
TU Scores:
May 2014- 466
July 2014- 537
September 2014- 602
Goal Scores- 720 by March 2014
Message 8 of 14
eric19k
Established Contributor

Re: how likely Capital One will give me a credit line

 
TU Scores:
May 2014- 466
July 2014- 537
September 2014- 602
Goal Scores- 720 by March 2014
Message 9 of 14
eric19k
Established Contributor

Re: how likely Capital One will give me a credit line

so here is an update. I faxed my income information twice. First time they didn't receive and were going to decline but I called in and faxed again. After waiting for a week I called again and was told that they approved me for $1000 credit limit. It is Quicksilver card.
Thank you guys for support and help.
TU Scores:
May 2014- 466
July 2014- 537
September 2014- 602
Goal Scores- 720 by March 2014
Message 10 of 14
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