topic Re: Cap One Quicksilver Application... in Credit Card Approvals

Cap One Quicksilver Application...

Andy77 — Thu, 16 Oct 2014 20:47:10 GMT

I applied yesterday for the Quicksilver...got the 7-10 day message. I called today to see if they needed to verify anything and they said everything was a-ok, but its

"still processing"

Does this mean a decline ?

They did approve me for the Venture card in June with 20k limit, I have been using the card since then...about 2k a month and PIF before statement cuts...just FYI

Re: Cap One Quicksilver Application...

Anonymous — Thu, 16 Oct 2014 21:09:26 GMT

My guess is that you are approved. However, since they do 3 HPs, they have to justify them pretending they have a lot of manual reviewing to do....

Re: Cap One Quicksilver Application...

Andy77 — Fri, 17 Oct 2014 16:29:37 GMT

So I called back today to see if they needed any addl info, since my Accountant is going out of town tomorrow for 3 months and he sends me statements via snail mail and I wanted to request them from him today is Cap One needed any financial info and they said they don't need any info now and I was told it would take another 5 days...

I will just assume I am declined...

I asked the rep on the phone, if it were declined, could you tell me over the the phone and he said, yes.

Has anyone else had to wait this long, then to get an approval?

Re: Cap One Quicksilver Application...

coldnmn — Fri, 17 Oct 2014 16:37:07 GMT

If they could tell you if you were denied (maybe) then I think your in and they have to decide upstairs how much the CL will be. In my opinion.

edit: I'm sure with your current limit it has to be decided in upper management the CL.

Re: Cap One Quicksilver Application...

Anonymous — Fri, 17 Oct 2014 19:08:21 GMT

@coldnmn wrote:
If they could tell you if you were denied (maybe) then I think your in and they have to decide upstairs how much the CL will be. In my opinion.

edit: I'm sure with your current limit it has to be decided in upper management the CL.

Seems to me like CapitalOne is more of a computer reliant bank like GE/Synch.

Re: Cap One Quicksilver Application...

black_citi — Fri, 17 Oct 2014 19:16:41 GMT

I got a similar message from Barclay's. I apped yesturday for their rewards mastercard (then I find out today their apple card is easier to get :/) and they hit me with the 10 day. I might call the BD number to see if theres anything they need or explained. I wonder if I can still get that apple card.

Re: Cap One Quicksilver Application...

Kenny — Fri, 17 Oct 2014 19:27:54 GMT

@Andy77 wrote:

I applied yesterday for the Quicksilver...got the 7-10 day message. I called today to see if they needed to verify anything and they said everything was a-ok, but its
"still processing"

Does this mean a decline ?

They did approve me for the Venture card in June with 20k limit, I have been using the card since then...about 2k a month and PIF before statement cuts...just FYI

No, it doesn't. I've received a flat denial from Cap1 before.. and it goes like this.. I'm sorry we can't approve you for this card. I was like HUH!!!?!!?! lol

They're just trying to figure out how big of a line they are going to give you... lol

Re: Cap One Quicksilver Application...

Andy77 — Sat, 18 Oct 2014 18:49:12 GMT

Ok...thanks for the reply...

this is what the automated system says...after applying on 10/15/14... still says...

"we have recieved your application and are still processing it, we'll "send more information to your mailing address within the next 10 days"

I have a feeling that means declined ....

Re: Cap One Quicksilver Application...

Andy77 — Sat, 18 Oct 2014 18:59:29 GMT

One other thing...

When I pulled my actual "Fico", not their score, with Equifax yesterday, it said it was 692...does anyone know what EQ Fico Cap One uses ?

Re: Cap One Quicksilver Application...

Andy77 — Mon, 20 Oct 2014 19:05:14 GMT

After my facebook postings...EO called my back...my Quicksilver account was approved, but they don't have a CL yet.

Since its a visa sig and they already gave me an account with a 20k limit, I hope this limit is 10k

I will let you all know when I know what it is.

Re: Cap One Quicksilver Application...

Anonymous — Mon, 20 Oct 2014 19:17:04 GMT

@Andy77 wrote:

After my facebook postings...EO called my back...my Quicksilver account was approved, but they don't have a CL yet.
Since its a visa sig and they already gave me an account with a 20k limit, I hope this limit is 10k

I will let you all know when I know what it is.

It's Interesting they gave you a 20k limit with a 692 EQ FICO, Even more so if they give you a 10k limit on a second card with that.

Is your EQ your lowest score?

Re: Cap One Quicksilver Application...

Andy77 — Mon, 20 Oct 2014 20:33:17 GMT

My score, when I got approved for the 20k in June, was not 692, it was probably around 660.

I know score is not the only factor banks look at. At the time I applied in June Penfed had approved me in Feb for a 20k card and Citi was at 12k, so I guess Cap One wanted to match Penfed's limit

I had 1 % utiliaztion, income between 150-175k, been at my same job 6 yaers and same living situation 6 years

Re: Cap One Quicksilver Application...

Anonymous — Mon, 20 Oct 2014 20:42:36 GMT

@Andy77 wrote:

My score, when I got approved for the 20k in June, was not 692, it was probably around 660.

I know score is not the only factor banks look at. At the time I applied in June Penfed had approved me in Feb for a 20k card and Citi was at 12k, so I guess Cap One wanted to match Penfed's limit

I had 1 % utiliaztion, income between 150-175k, been at my same job 6 yaers and same living situation 6 years

That's a sizable income for sure so that does make a bit more sense.

Re: Cap One Quicksilver Application...

ddemari — Tue, 21 Oct 2014 01:36:52 GMT

Cap1's internal scoring system intrigues me. I was approved with a prequal offer for ventute1 on the tailend of an app spree when my scores took a hit in 660s. I was approved for 5k visa signature, which i reconned to 8k. And qs signature visa reconned to 6k both within a week. Granted i have other cap1 accounts for 4 years excellent payment history, income 65k at same job for 7 years.

Re: Cap One Quicksilver Application...

Andy77 — Tue, 21 Oct 2014 20:05:27 GMT

So, I am ANXIOUSLY waiting to see what my credit limit would be... EO called me Monday and said my app was approved for the Quick Silver Visa Sig, but they are trying to determine the credit limit and I would have the plastic by the end of this week. The automated system, as of today, still says they are processing it.

I stated in the app I spend about 8k per month (one of the app questions)

My other card with them has a 20k limit

My assets increased from the app for the card with the 20k limit, that I apped for in June, to the Quick Silver card that I apped for last week ....

so maybe it will be over 20k but I don't know

I am afraid to call in and ask...

Opinions ?

Re: Cap One Quicksilver Application...

Anonymous — Tue, 21 Oct 2014 23:14:40 GMT

I recently got a 7 to 10 day and they gave me a card after about 7 days. It's probably an approval. You can have up to 5 cards with them.

Re: Cap One Quicksilver Application...

Andy77 — Wed, 22 Oct 2014 20:31:16 GMT

I bit the bullet and called in and talked to an application specialist... I first asked what my APR was and she said....it was 0 percent until July 2015 and she said my account was approved on Oct 20th.

She said the credit limit was still not determined and that the account was not actually created.

She said I should have the card by the end of the week.

I just think its odd that there is no credit limit assigned if the account was approved two days ago, as the rep stated

Re: Cap One Quicksilver Application...

Andy77 — Mon, 27 Oct 2014 17:30:30 GMT

Got appproved for 10k. I wrote the EO to see if they could increase my CL since, when I applied in June and got approved for 20k my income and net worth was actually less in June.

I will keep you posted to see what they say.

Re: Cap One Quicksilver Application...

Anonymous — Mon, 27 Oct 2014 20:31:15 GMT

@Andy77 wrote:

Got appproved for 10k. I wrote the EO to see if they could increase my CL since, when I applied in June and got approved for 20k my income and net worth was actually less in June.

I will keep you posted to see what they say.

Looks like you hit it on the nose.

Re: Cap One Quicksilver Application...

Andy77 — Mon, 27 Oct 2014 23:15:08 GMT

Yep, I hit on nose. Decided I would not call EO now. I am just gonna use card and build more history with them. 30k is not bad