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Cap1 cash rewards card - denied

Valued Contributor

Cap1 cash rewards card - denied

Well I was pre approved for this card and applied for it weeks ago before entering garden. The denial letter came today and the only reason I was denied was that I had recently processed application with them. So I was denied because I just got their secured card. That's idiotic. I applied on phone and if that's reason then they should had told me to not apply as they could see I just got other card in their system before running app.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Message 1 of 10
9 REPLIES
Frequent Contributor

Re: Cap1 cash rewards card - denied

That's odd.  I got 2 Cap One cards within 2 months of each other.  Neither is secured. Maybe their rules are different with a secured card???

Message 2 of 10
Valued Contributor

Re: Cap1 cash rewards card - denied

Is that something I can try to call backdoor number and have them grant the card??? If so, please pm a good number to recon with. --thanks


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Message 3 of 10
Valued Contributor

Re: Cap1 cash rewards card - denied

Update-cap1 says they donor take apps within 45 days of the last app.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Message 4 of 10
Frequent Contributor

Re: Cap1 cash rewards card - denied

That makes sense.  My apps were more than 45 days apart (9/19 and 11/10).

Message 5 of 10
Valued Contributor

Re: Cap1 cash rewards card - denied


Duncanrr wrote:
Update-cap1 says they donor take apps within 45 days of the last app.

Yeah --I was going to do the same thing, until I researched on the board and found out not to apply to Cap1 for a couple months after..

 

Just wait a little while, and try again. But you lost the INQ unfortunately

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Message 6 of 10
Established Contributor

Re: Cap1 cash rewards card - denied

I remember I applied to three CapOne cards the same day so I was declined for two but luckily I only got one INQ hit on all three CRAs
Message 7 of 10
Valued Contributor

Re: Cap1 cash rewards card - denied

They didn't do a hard pull. I thank them for that at least


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Message 8 of 10
Valued Contributor

Re: Cap1 cash rewards card - denied


Duncanrr wrote:
They didn't do a hard pull. I thank them for that at least

Then no harm no foul! Smiley Happy

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Message 9 of 10
Established Contributor

Re: Cap1 cash rewards card - denied

Yes I was told there is a wait between unsecured cards but no wait to reapply for the secured. They can however resubmit a recon after a denial to re-review but this will cost another HP, which sucks since Cap 1 likes to pull all 3 CRAs.

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Message 10 of 10