topic Re: Cap1 Venture Approval Odds? in Credit Card Applications

Cap1 Venture Approval Odds?

pinkandgrey — Fri, 23 Mar 2018 19:38:40 GMT

New myFicoer here!

So on the Cap1 prequal site, I am prequalified for the Venture. I would love to apply IF I can get one of those great starting limits I hear about. Here are the stats:

Approx income: 24k
AAoA: 8 mos to a year
Approx scores: 720s across
Other cards: Discover it with 10.2k, Barclays Apple with 4k, GM Buypower with 5k, Amex BCE with 6k
Inquiries: EX 4-5, EQ 1, TU 1

A few of those inquiries are in the last couple months

I have never carried a balance, always paid in full before due date, used to have a student loan and auto loan but both are paid off so I have 4 OPEN accounts.
As a side note, one of the most recent inqs was for the GM Buypower, which is technically a Cap1 card....

Advice? Apply or no?
Thanks, everybody!

I don't really want to waste the HPs for another 5k card. The only way I would risk apping is if I had a shot at those 5 digit SLs. Any personal experiences would be welcome!

Oh, and my util on all cards is below 10%

Re: Cap1 Venture Approval Odds?

Anonymous — Fri, 23 Mar 2018 15:07:26 GMT

IMO, I say you get it with a least $5k...Be warned, you will get 1 HP in EX, 1 in EQ and 1 in TU. Good luck!!

Re: Cap1 Venture Approval Odds?

SteelCityPride — Fri, 23 Mar 2018 15:25:28 GMT

Try for Chase CSP 1st

Re: Cap1 Venture Approval Odds?

jl4 — Fri, 23 Mar 2018 16:18:28 GMT

@SteelCityPridewrote:
Try for Chase CSP 1st

This. Long term you'll probably enjoy this card more.

Re: Cap1 Venture Approval Odds?

Anonymous — Fri, 23 Mar 2018 16:18:32 GMT

@SteelCityPridewrote:
Try for Chase CSP 1st

Assuming OP can handle to meet the spending for both.

Re: Cap1 Venture Approval Odds?

pinkandgrey — Fri, 23 Mar 2018 18:47:17 GMT

The only problem is that the CSP has a higher AF, and I don't hear about as generous of limits on that one...

Re: Cap1 Venture Approval Odds?

Anonymous — Fri, 23 Mar 2018 22:44:43 GMT

One Cap 1 card per 6 months is generally the rule so keep that in mind.

After the first year, the annual fee is the same for both. The CSP would be a minimum starting line of $5K. With your stats, I’d expect the same from Cap 1.

What’s the age of your oldest account?

Re: Cap1 Venture Approval Odds?

Anonymous — Sat, 24 Mar 2018 00:13:50 GMT

GM being a Cap1 card, but co-branded, you may be out of luck for 6 months. They do seem to be a lot more inquiry sensitive lately, too

Re: Cap1 Venture Approval Odds?

Gregory1776 — Sat, 24 Mar 2018 00:39:22 GMT

@SteelCityPridewrote:
Try for Chase CSP 1st

Why? Don’t do this..🤨

Re: Cap1 Venture Approval Odds?

pinkandgrey — Sat, 24 Mar 2018 01:25:43 GMT

@Anonymouswrote:
One Cap 1 card per 6 months is generally the rule so keep that in mind.

After the first year, the annual fee is the same for both. The CSP would be a minimum starting line of $5K. With your stats, I’d expect the same from Cap 1.

What’s the age of your oldest account?

Oldest is around 2 years