topic Re: Capital One Important Data in Credit Card Applications

Capital One Important Data

MauiMan85297 — Fri, 10 Jun 2016 18:31:50 GMT

Had my co-worker apply for QS card as all her scores are over 730 but she was recently approved 3 months ago for a 15k Venture, it showed her pre-approval at 18.34% and she proceeded to fill out the rest of app and was DENIED, long story short....... She calls in and after speaking to CSR was xfer to a supervisor and she says Cap1 has implemented a new policy as of June 1st that if you were approved for any card that it's a minimum 6 month time before they can approve another card, was told that the system picked that up and there was no HP for your application.

Hmmm, new policy!

Re: Capital One Important Data

creditguy — Fri, 10 Jun 2016 17:32:12 GMT

If this is true, and I don't doubt your friend was told this, I often doubt the CSR's and the supervisors when they speak because they are usually misinformed or wrong, but anyhow, if true, that's an interesting turn for Cap One to take. Seems as if they are tightening things up, could the good old days really be coming to an end? Time will tell. Good info, thanks for sharing.

Re: Capital One Important Data

Anonymous — Fri, 10 Jun 2016 18:10:39 GMT

@gsully00 wrote:
Had my co-worker apply for QS card as all her scores are over 730 but she was recently approved 3 months ago for a 15k Venture, it showed her pre-approval at 18.34% and she proceeded to fill out the rest of app and was DENIED, long story short....... She calls in and after speaking to CSR was xfer to a supervisor and she says Cap1 has implemented a new policy as of June 1st that if you were approved for any card that it's a minimum 6 month time before they can approve another card, was told that the system oicked that up and there was no HP for your application.

Hmmm, new policy!

Yeesh. Now it sounds as if they want to do 25 multi-bureau hard pulls on everyone just to get a couple of cards.

Re: Capital One Important Data

Jerry45 — Fri, 10 Jun 2016 20:07:29 GMT

Wow! Thanks Sully, good to know that vluable info.

Re: Capital One Important Data

Anonymous — Fri, 10 Jun 2016 21:07:33 GMT

Any card from any credit company or any Capital One card?

Also, so this means when I go for the Venture this fall, I shouldn't bother for the QS Visa Signature at the same time like people have been doing?

Re: Capital One Important Data

MauiMan85297 — Fri, 10 Jun 2016 22:14:50 GMT

@Anonymous wrote:
Any card from any credit company or any Capital One card?

Also, so this means when I go for the Venture this fall, I shouldn't bother for the QS Visa Signature at the same time like people have been doing?

Just a card from Capital One, this was discussed to my co-worker I sit next to. A supervisor said that they have implemented a policy starting on June 1st that any card that you apply for will not get approved until a 6 month time window has elapsed from your last approved C1 card.

Whether this holds truth only time will tell if people chime in on their results.

Re: Capital One Important Data

driftless — Fri, 10 Jun 2016 22:32:27 GMT

If this is a new policy, while it may be unpopular on this forum, it makes some sense given that Cap One allows you to combine accounts now. One way to test this is for someone who just received a CC from Cap One to check the pre-qualified page.

Re: Capital One Important Data

surferchris — Fri, 10 Jun 2016 23:02:49 GMT

@gsully00 wrote:
Had my co-worker apply for QS card as all her scores are over 730 but she was recently approved 3 months ago for a 15k Venture, it showed her pre-approval at 18.34% and she proceeded to fill out the rest of app and was DENIED, long story short....... She calls in and after speaking to CSR was xfer to a supervisor and she says Cap1 has implemented a new policy as of June 1st that if you were approved for any card that it's a minimum 6 month time before they can approve another card, was told that the system picked that up and there was no HP for your application.

Hmmm, new policy!

Thanks for the info...

Re: Capital One Important Data

Anonymous — Fri, 10 Jun 2016 23:31:58 GMT

Wow.... that sucks. Def glad I applied for my three new accounts when I did...I was able to get three new Cap1 cards in three months.

Re: Capital One Important Data

MauiMan85297 — Fri, 10 Jun 2016 23:37:49 GMT

On mobile. Needing more than just her pre qual rejection to find out if this is really true. I'm glad I got my 4 all in 4 months and no way I'd know if I could get another because I'm gardening until Dec.

Re: Capital One Important Data

RonM21 — Sat, 11 Jun 2016 14:16:51 GMT

First I heard of this. Good to know, although I wasn't planning on aping multiple cards within that time frame with them due to their HP process.

Re: Capital One Important Data

Anonymous — Sat, 11 Jun 2016 14:23:23 GMT

Just my experience... I recently was pre-qual'd for the Venture card also. My last application was 30+ days ago at the end of April. When I applied for the Venture card with my pre-qual, it was denied due to "there is a currently pending or recently processed application with Capital One"

Edit : I did not receive any HPs due to this either.

Other than this application and the one in April, I have had no recent applications. I call customer service and the fraud department to verify that I had no applications since April. No one was able to tell me WHY that was given as the denial reason. Unfortunately I wasn't able to speak with a supervisor, but neither the frontline CSR, nor the fraud depart could provide any other details. ( Fraud recommended putting a passcode on my account and having the new account freeze put on my CRs.)

Re: Capital One Important Data

svtthis — Sat, 11 Jun 2016 23:04:31 GMT

I believe the op is right. I was just approved for a venture last night and immediately applied for the quicksilver card. My qs application was instantly denied and doesn't look like it pulled my cr. I was pre qualified for the venture venture one and quicksilver. Seemed odd at the time but now this makes sense

Re: Capital One Important Data

UncleB — Sat, 11 Jun 2016 23:38:24 GMT

@svtthis wrote:
I believe the op is right. I was just approved for a venture last night and immediately applied for the quicksilver card. My qs application was instantly denied and doesn't look like it pulled my cr. I was pre qualified for the venture venture one and quicksilver. Seemed odd at the time but now this makes sense

I can add a data point as well... yesterday one of my brothers checked the pre-qual site and it presented him with the QS1 and the Platinum. He apped for the QS1 and was approved, and a few minutes later he tried the Platinum and it was declined... and it didn't take but a second to respond, either (a much faster response than the approval).

It's certainly not a 'good' change, but it does make sense. Now that you can combine accounts after six months, this is (or rather, 'was') a good way to build up a credit line quickly that otherwise they might not have approved you for outright.

It was nice while it lasted, though...

Re: Capital One Important Data

Anonymous — Sun, 12 Jun 2016 02:48:52 GMT

Well to those applying twice in one day.... the previous ( or current ) policy from Cap One was ONE app within a 30 day time frame. If you submit two, the first would be processed, the second would be instantly denied for this reason ( within 30 days ).

The OP is saying the 30 day window is being changed to 6 months between apps. It is Cap One so we have no way of knowing....

Re: Capital One Important Data

UncleB — Sun, 12 Jun 2016 02:53:53 GMT

@Anonymous wrote:
Well to those applying twice in one day.... the previous ( or current ) policy from Cap One was ONE app within a 30 day time frame. If you submit two, the first would be processed, the second would be instantly denied for this reason ( within 30 days ).

The OP is saying the 30 day window is being changed to 6 months between apps. It is Cap One so we have no way of knowing....

That might have been "official" policy, but unofficially many folks on here have reported being able to get approved for two cards back-to-back.

It seems to have been over for a little while now, though.

Re: Capital One Important Data

UncleB — Sun, 12 Jun 2016 03:02:42 GMT

@Anonymous wrote:
Well to those applying twice in one day.... the previous ( or current ) policy from Cap One was ONE app within a 30 day time frame. If you submit two, the first would be processed, the second would be instantly denied for this reason ( within 30 days ).

The OP is saying the 30 day window is being changed to 6 months between apps. It is Cap One so we have no way of knowing....

I also wanted to note that officially it's two cards in a 30 day period, not one.

I understand that I am not eligible for this offer if:

My application is received after this offer expires, is incomplete, unreadable, inaccurate or cannot be verified.
My address is not in one of the following locations: the 50 United States, Washington, D.C., or a U.S. military location.
My address is a correctional institution.
My monthly income (my disclosed total annual income divided by 12) doesn't exceed my monthly rent/mortgage payment by at least $425. Or, Capital One otherwise determines that I am unable to make my monthly payments.
I am under 18 or do not have a valid Social Security Number or Individual Taxpayer Identification Number.
I have applied for a Capital One credit card 2 or more times in the last 30 days.
I have 5 or more open credit card accounts with Capital One.
I have a past due Capital One credit card account.
I am over my credit line on a Capital One credit card.
I have had a Capital One credit card that charged off within the past year.
I have a non-discharged bankruptcy (one that is still unresolved).

You can read all the fine-print at the botton of any of their card description pages, such has here.

Re: Capital One Important Data

Anonymous — Sun, 12 Jun 2016 03:32:55 GMT

You are correct in that uncleB... I'm can only speak to my experience.

April 28 I applied for QS, then immediately applied for the Venture. The QS was approved, but the Venture was denied due to "recently processed application." So I called CS, and the nice lady told me that I was only able to apply and be approved for one card within a 30 day period. If I was still interested in the card, I could apply again after 30 days, that no HP had been done to my reports.

I'm sure others have had different results, as it is Cap One and YMMV...

Re: Capital One Important Data

Gmood1 — Sun, 12 Jun 2016 03:46:04 GMT

Wow!! Glad I got all my double Capital one apps out of the way. I acquired two QS and two Ventures last year.
Just zeroed out all of the balances. Snagged a $1k increase on one of the Ventures a few days ago. Now waiting for the go ahead to combine 3 of my cards into my oldest card.
Today was 6 months for the newest cards. Looking forward to creating a $49.5k QS. While clearing out the clutter.

Thanks OP for the info!

Re: Capital One Important Data

Anonymous — Sun, 12 Jun 2016 05:56:29 GMT

You know Cap One is pretty cappy crappy sometimes with the CSR's. I can get a totally different answer when speaking with a couple of them. But if this is the new rule. It's going to be a lot of pulls and a long wait. Sorry to hear about your co-worker. Seems most are making new rules now. Economy is tightening up a bit again. We had a rush of new homes built around here and now they have come to a halt.