topic Re: CAPITAL ONE VENTURE APPROVAL ODDS in Credit Card Applications

CAPITAL ONE VENTURE APPROVAL ODDS

YoungB718 — Tue, 06 Feb 2018 22:29:31 GMT

Interested in app'ing for the Venture card. My FICO scores are accurate as of 2 days ago (759/785/744) with an AAOA of (2.5/3.4/3) and a total inquiry count of (11/17/13). I'd also like to add that I haven't any lates or derogatory accounts. I've read that Capial One can be inquiry sensitive at times and many of my inquiries wont fall off until the end of the year. If I have to wait, then I'm okay with that but I'd really like to take of advantage of the 50k mile signup bonus. Also, my utilization is around 10%. I'd apprecitate the imput of anyone who may have been approved/denied with a similar profile. Thanks in advance ***FYI...can't seem to ever get a pre-qualified option***

Re: CAPITAL ONE VENTURE APPROVAL ODDS

steelers1 — Tue, 06 Feb 2018 23:41:50 GMT

From what you described you should be good to go.

I have had 2 Ventures over the past few years and I wasn't pre-approved either.

The pre-approvals are hit and miss.

Re: CAPITAL ONE VENTURE APPROVAL ODDS

frank784 — Tue, 06 Feb 2018 23:50:01 GMT

I was preapproved for the Venture with scores under 700. Income around 135K....instant approval of 20K. I would think you would be good to go as your scores are good and utilization is low. They are pretty aggressive with starting limits too! Let us know how it goes.

Re: CAPITAL ONE VENTURE APPROVAL ODDS

Anonymous — Wed, 07 Feb 2018 00:36:52 GMT

I think your good to go....applying for a credit product is always a crap shoot.

Re: CAPITAL ONE VENTURE APPROVAL ODDS

YoungB718 — Wed, 07 Feb 2018 00:50:49 GMT

All set! Your application is complete.

Thank you for submitting an application for a Capital One credit card! Notification of your application status will typically be sent in 7 to 10 business days; however, in certain circumstances it may take up to 15 days.

*** I ALWAYS HATE THIS MESSAGE***

Re: CAPITAL ONE VENTURE APPROVAL ODDS

CreditCuriosity — Wed, 07 Feb 2018 00:54:23 GMT

wrote:
All set! Your application is complete.
Thank you for submitting an application for a Capital One credit card! Notification of your application status will typically be sent in 7 to 10 business days; however, in certain circumstances it may take up to 15 days.

*** I ALWAYS HATE THIS MESSAGE***

Sounds like an approval... Cap1 usually will decline you right away if they want to. Most likely verification or trying to figure out APR/SL... Call in a day or so and get an update on status. I think you are good to go as Cap1 7 to 10 days is different than most lenders 7-10 days (which usually means a denial for other lenders). This isn't the case for Cap1.

Re: CAPITAL ONE VENTURE APPROVAL ODDS

Shooting-For-800 — Wed, 07 Feb 2018 01:11:41 GMT

"7-10-15 days"...

This is the exact message I got when I was pre-approved for my last Venture.

3 days later I called in, they verified information, and I got $30k at 13.99% !

I about fell over.

Cap One is slowing down the instant approvals on high limits.

I have also been approved for several Cap One cards WITHOUT preapprovals.

Re: CAPITAL ONE VENTURE APPROVAL ODDS

Anonymous — Wed, 07 Feb 2018 04:25:26 GMT

Don't fret over this message. You have a solid profile. And I'm betting approved.

Quite frankly cap1 lately has been giving most people this 7-10 day message .Myself included .And what it is, is a fraud verification. I tried calling in but it was a weekend. Well THEY called ME at 4:50 and left a voicemail to call in between 8 and 5 .I saw it at 5 and they were closed by then . So Monday morning I gave them a ring and verified my identity by answering a few questions. She said another 3-5 business days I will hear from them .Next day got an email saying my card was on the way. Also I read this forum every single day .No joke .And many many people lately have been getting the same dreaded message saying the same thing and end up coming back with an approved update .Im quite sure you will be ok .As stated above it would have Probaly been outright denied if they didn't want you .Best of luck and let us know .

Re: CAPITAL ONE VENTURE APPROVAL ODDS

MrDisco99 — Wed, 07 Feb 2018 06:13:09 GMT

Those of you who got approved, how long had it been since your previous most recent new account? And how many new accounts in the last 6/12 months?

I really want this card, too, especially with the new hotels.com promotion, but I'm afraid my recent app history (see sig) has me in credit card purgatory for a while. My current inquiry counts in the last 12 months are 8/9/5.

I also wonder if underwriting for the VentureOne might not be as strict?

Re: CAPITAL ONE VENTURE APPROVAL ODDS

Anonymous — Wed, 07 Feb 2018 09:01:43 GMT

wrote:
Those of you who got approved, how long had it been since your previous most recent new account? And how many new accounts in the last 6/12 months?

I really want this card, too, especially with the new hotels.com promotion, but I'm afraid my recent app history (see sig) has me in credit card purgatory for a while. My current inquiry counts in the last 12 months are 8/9/5.

I also wonder if underwriting for the VentureOne might not be as strict?

I read an entire Reddit thread of seemingly endless denials back in October which kept me from applying then. In December, I applied and was instantly approved (SL 15K) with the below data points:

Cold App

AAoA:
7yr11mo

Double Pull
Inquiries:
EX FICO 8 - 9 ||| Score: 730
TU FICO 8 - 8 ||| Score: 737

The approval letter showed a Bankcard 2 or 4 score of only 700. I can’t remember anything more specific than that. Apologies.

Last Opened Account:
BoA Premium Rewards - October
Discover it - October
Barclaycard Red Aviator - October

New Accounts:

10 in previous 7 months.

4 in previous 4 months.

3 in previous 3 months.

I hope this helps. But I do think this was an aberration from all of the data points I saw on Reddit.

Re: CAPITAL ONE VENTURE APPROVAL ODDS

MrDisco99 — Wed, 07 Feb 2018 15:13:20 GMT

Wow DPs for Venture really are across the board.

I kinda want to try in a couple weeks after putting 6 months between me and my August app spree. If I get declined how useful would a recon call be? Could I get them to use the same HP(s) to try for a different product?

Re: CAPITAL ONE VENTURE APPROVAL ODDS

Anonymous — Wed, 07 Feb 2018 16:15:47 GMT

Recons are useless with Cap One, however, I think 6 months is enough time between apps. Regarding utilizing your existing HP for other products, I’m unsure.

Re: CAPITAL ONE VENTURE APPROVAL ODDS

Snipper117 — Wed, 07 Feb 2018 18:39:51 GMT

I was checking capone preapproval link for couple months. Finally on 1/3/18 Venture poped up with set APR 14.24%. Apped got 7-10 day and ended up calling in 1/2 days later for verification. Called back in another 1/2 days I assume they processed application during this time and was approved 30k. Almost fell out of my chair and asked CSR to please confirm.

Data at time of application 1/3/18.

Last 6 months 2 new accounts 2 inquirys

Last 12 months 5/5/6 inquiries

Perhaps underwriting is a little less strick: quick story

I previously had venture and QS which capone closed in May 2017 both accounts because of payment being returned. I will say balance and CL at this time was $3500, I PIF then made another purchase of $3500. First one got returned so balance showed as around $7100. Capone pulled the plug right away which is totally understandable. From May 2017-Jan 2018 I would check the cap one prequal page (more frequently at the end of this time frame) and QS and VENTURE never showed not once until 1/3/18.

Re: CAPITAL ONE VENTURE APPROVAL ODDS

Anonymous — Sun, 08 Apr 2018 15:59:52 GMT

Okay, so through this "credit card" process I've learned a lot. I'll at least give you my stats.

I'm currently rebuilding my credit, made some young, dumb decisions to say the least. My credit score isn't the best TU 675, EX 682 and EQ 679. It's taken me two years to get it in the upper sixties. Now, onto the card...I've taken my time and actually started rebuilding with capital one. Two years ago I got the credit rebuilder card, made every single payment on time. A year later I applied for the Quicksilver card and was approved with LOW scores, but I was showing I was being patient and making payments.

Finally two days ago I called and applied for the Venture card and was instantly approved for 15k. I was shocked, but it was my plan all along to take it slow and build up to this card. Now, as I was speaking to the application guy on the phone he actually told me Capital One doesn't neccessarily base their decision off your credit score, but rather credit utilization, history of on-time payments and credit to debt ratio. Now of course credit score plays some role in their decision, but based off my scores, they seemed to go after what my history was reporting. I of course have history with capital one and two years worth of on-time payments with two cards.

If you have scores like mine, simply build history with the card company you want to do business with. Your approval odds will sky rocket and be patient with the process. It took me two years to get this card, but I finally did it. No this isn't the best card when it comes to travel rewards (do your research) but for me, it was a start. I plan to work my way up to some type of black card and it's possible even though currently, by myself I only make $58k a year.

Helpfull tip: I've learned to always pay balance in full every month, and I even apply extra money on my card to give myself "credit" on a credit card, if that makes sense. That will REALLY impress the card companies and by doing that over a period of time, you can get any card you want. It shows the card companies you are capable of handling a higher limit. Even though my 15k limit isn't the highest, for my scores, that's pretty hight. By doing it this way, next month my scores will finally be in the 700's. Just remember to be patient!

Re: CAPITAL ONE VENTURE APPROVAL ODDS

UncleB — Sun, 08 Apr 2018 16:04:06 GMT

This thread is closed to new messages.

The new thread can be found here: http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Capital-One-Venture-Approved/m-p/5160862