topic Re: Capital One Venture denial in Credit Card Applications

Capital One Venture denial

Anonymous — Thu, 19 Apr 2018 00:26:02 GMT

First time poster here. I’m very new to all of this, as I checked my credit score for the first time ever in February and saw it was a 679. As the subject shows, I applied for The Capital One Venture card today and was denied. My Experian FICO 8 score as of today is 747. Average age of accounts is 8 years and 6 months. I am an authorized user on a BOA card with around a $13,000 limit with an age of 16 years. I got my first card a year ago, it is a store card through synchrony financial with a $5,000 limit. I have not yet received the reason for denial from capita one. My question is does capital one mainly disregard authorized users, and should I be looking into lower tiered cards? I travel a lot for work, with expenses going on my own card then being reimbursed by my employer, so a travel card would be quite beneficial. Also, how long should I wait until I apply for another card? Thanks for any help in advance!

Re: Capital One Venture denial

Anonymous — Wed, 18 Apr 2018 22:54:05 GMT

@Anonymous wrote:
First time poster here. As the subject shows, I applied for The Capital One Venture card today and was denied. My Experian FICO 8 score as of today is 747. Average age of accounts is 8 years and 6 months. I am an authorized user on a BOA card with around a $13,000 limit with an age of 16 years. I got my first card a year ago, it is a store card through synchrony financial with a $5,000 limit. I have not yet received the reason for denial from capita one. My question is does capital one mainly disregard authorized users, and should I be looking into lower tiered cards? I travel a lot for work, with expenses going on my own card then being reimbursed by my employer, so a travel card would be quite beneficial. Thanks for any help in advance!

I don't think they do. Regardless of you being an AU or not, your profile seems good for the little details you provided. You could try to recon or look into getting another travel card.

What do you value most, hotels, lounges certain airlines?

The CSP/CSR would be great for the thee above in blue. You could also try the AMEX PRG.

Re: Capital One Venture denial

Anonymous — Wed, 18 Apr 2018 23:02:11 GMT

Try the Capital One prequalify tool first before apping.

Re: Capital One Venture denial

Anonymous — Wed, 18 Apr 2018 23:54:18 GMT

Thanks for the feedback. I’ll typically spend 60-80 nights a year in hotels for work, so I value hotels the most. My initial plan was to get the venture card to utilize the new offer through hotels.com for when I don’t stay at Hilton hotels, and to also get one of the new Hilton Amex cards (preferably the aspire) as I try to stay at Hilton’s as much as possible. I was looking into doing a recon, but a lot of the info I read online said Capital One no longer does this. Also, how long should I wait before applying to a different card? As stated above, I’m pretty knew to this.

Re: Capital One Venture denial

Brian_Earl_Spilner — Thu, 19 Apr 2018 03:10:41 GMT

You can apply as many times as you want. There are people here with 30+ inquiries in the last 2 years getting approved. The problem for you is you're going for the big guns with a thin profile. It's just not gonna happen. You're going to need about a year of credit with a non-store card before getting those types. You might get lucky, I was approved for an Amex gold with nothing but 3 or 4 months of car payments when I turned 18, so it's definitely possible. But, I would do what was suggested above, which is to try the prequalification apps on all the major bank's sites. It'll give you an idea of what types of cards you'll be able to get. Then, you can choose to apply for the one that will benefit you the most.

Re: Capital One Venture denial

Anonymous — Thu, 19 Apr 2018 14:10:30 GMT

I appreciate you replying. I didn’t realize the fact that my card was a store card would hinder me that much. I took your advice and did the prequals, and am now deciding between US Bank FlexPerks gold, Capital One Quicksilver, and Amex everyday preferred. Unfortunately didn’t prequalify for any of the chase cards. Thanks again for all the help

Re: Capital One Venture denial

UncleB — Sat, 21 Apr 2018 21:35:48 GMT

@Anonymous wrote:
I appreciate you replying. I didn’t realize the fact that my card was a store card would hinder me that much. I took your advice and did the prequals, and am now deciding between US Bank FlexPerks gold, Capital One Quicksilver, and Amex everyday preferred. Unfortunately didn’t prequalify for any of the chase cards. Thanks again for all the help

If I were you I would avoid the Quicksilver for now since you were just denied for the Venture.

Although the Quicksilver can be approved for a credit line under $5k (which is the minimum for Venture) the underwriting is likely otherwise similar and it will be another triple-hit on your reports (they pull from each credit bureau for every application).

Just my 2¢.

Re: Capital One Venture denial

Anonymous — Sun, 22 Apr 2018 15:12:44 GMT

Thanks for that advice. I actually went ahead and applied for one card I forgot to mention, which was the Discover It Miles card. I was approved for a $1,500 credit limit.

Re: Capital One Venture denial

Anonymous — Sun, 22 Apr 2018 15:25:08 GMT

Congrats on the one approval. I'm actually kind of shocked you were denied for the Cap 1 Venture. Maybe it's because they didn't feel comfortable approving you for that $5K SL, since that's the minimum on that card. As previous post mentioned, you may want to try a recon. Otherwise, you'll find out the reason when you receive the denial letter in the mail and can work on whatever the reason behind the denial was so as to try again later.

Good luck and keep us posted if you do a recon.... we love to hear everyone's experiences on here so others can learn from these things and have a general idea when they make a move.

Welcome to the forums!!

Re: Capital One Venture denial

Anonymous — Sun, 22 Apr 2018 16:05:27 GMT

I honestly thought I’d be approved as well. I received my reason for denial via email, which stated “the reason for our decision: based on your credit report from Transunion, length of credit history.”

Re: Capital One Venture denial

WolfChild1 — Sun, 22 Apr 2018 17:56:48 GMT

@Anonymous wrote:
First time poster here. I’m very new to all of this, as I checked my credit score for the first time ever in February and saw it was a 679. As the subject shows, I applied for The Capital One Venture card today and was denied. My Experian FICO 8 score as of today is 747. Average age of accounts is 8 years and 6 months. I am an authorized user on a BOA card with around a $13,000 limit with an age of 16 years. I got my first card a year ago, it is a store card through synchrony financial with a $5,000 limit. I have not yet received the reason for denial from capita one. My question is does capital one mainly disregard authorized users, and should I be looking into lower tiered cards? I travel a lot for work, with expenses going on my own card then being reimbursed by my employer, so a travel card would be quite beneficial. Also, how long should I wait until I apply for another card? Thanks for any help in advance!

Have you tried APPing at your bank where you deposit paychecks?

My DH has a thin file too (was only an AU on my cards). US Bank solicited him at the counter and gave him a 4500CL, 0% int for 12 MOS. At the time he only had one CRA: (EX 720). Recently he was able to get approval on the AMEX BCE (5% cash back) with a 2000 SL, Cap1 Platinum 300 SL and Discover IT 1500 SL.

Re: Capital One Venture denial

Anonymous — Sun, 22 Apr 2018 20:07:56 GMT

American Express is certainly a possibility; especially the Premier Rewards Gold or Blue Cash Everyday (to accumulate Member Rewards points rather than cashback). Forget Chase; they usually require at least 1 year of credit history and with only an authorized user account (which Chase ignores) and a store credit card you really dont have an appreciable credit history.