topic Re: Capital One Denied in Credit Card Applications

Capital One Denied

ZackAttack — Sat, 13 Apr 2019 03:12:19 GMT

Hi,

This is my 3rd time getting denied for Cap 1's Student Journey card. I tried responding them to reconsider the second time with no luck, so I need some help of how I'll respond.

This is the only bullet they put on the denial reasons:

- Based on your credit report from one or more of the agencies on the back of this letter, income is insufficient for requested credit

Fico 3 Score: EX 679

Red Facts:

- Length of time account

- Time since most recent account open

- Too many accounts w/ balance

- Too many inquiries last 12 months

My income is $5772. It would be more but I am a full-time college student.

So at the moment, I honestly got no idea of what should I write back to them to reconsider because they pretty much denied me on the income (same income I put on Discover's student and was approve).

Re: Capital One Denied

Anonymous — Sat, 13 Apr 2019 03:40:00 GMT

To the best of my knowledge, there isn’t much luck to be had with Capital One recons. They operated on auto-pilot and if the system spits out a denial they don’t overturn it. I wouldn’t waste your time trying.

Re: Capital One Denied

Brian_Earl_Spilner — Sat, 13 Apr 2019 03:53:07 GMT

Why are you applying for a journey card if you have a savor in your sig? Also, how many cards have you opened in the last 2 years, and how many inquiries do you have in the last 24 mos, 12, and 6?

Re: Capital One Denied

Anonymous — Sat, 13 Apr 2019 04:43:41 GMT

Sorry about your denial.

Your Savor Card is much better than the Journey card that you were denied for. Just use it for another year and build some more history.

Re: Capital One Denied

aircobra — Sat, 13 Apr 2019 05:24:22 GMT

@Brian_Earl_Spilner wrote:
Why are you applying for a journey card if you have a savor in your sig? Also, how many cards have you opened in the last 2 years, and how many inquiries do you have in the last 24 mos, 12, and 6?

It isn't their card. That's probably why.

Re: Capital One Denied

Anonymous — Sat, 13 Apr 2019 06:37:11 GMT

Your income is way too low. You’ve currently got $1500 worth of credit extended to you outside of the AU card. You could very easily get yourself in trouble so you need to show responsible use over time. Use those cards for 6 months and try again.

Aggressive credit seeking makes young files look extremely risky. I would stop throwing away HPs.

Re: Capital One Denied

ZackAttack — Sat, 13 Apr 2019 06:39:09 GMT

@aircobra wrote:
@Brian_Earl_Spilner wrote:
Why are you applying for a journey card if you have a savor in your sig? Also, how many cards have you opened in the last 2 years, and how many inquiries do you have in the last 24 mos, 12, and 6?
It isn't their card. That's probably why.

@Anonymous wrote:
Sorry about your denial.

Your Savor Card is much better than the Journey card that you were denied for. Just use it for another year and build some more history.

The Savor Card isn't mine. That is why there is a tag saying "AU" next to the credit line of that card.

The other 2 cards are mine and were open up 3 months ago

Re: Capital One Denied

Brian_Earl_Spilner — Sat, 13 Apr 2019 07:07:29 GMT

Got it. The tag can't be seen if you're not using a computer.

Re: Capital One Denied

Anonymous — Sat, 13 Apr 2019 07:40:57 GMT

@Brian_Earl_Spilner wrote:
Got it. The tag can't be seen if you're not using a computer.

Press and hold the image and it pops up. Not as convenient as running the cursor over it but it works.

Re: Capital One Denied

Brian_Earl_Spilner — Sat, 13 Apr 2019 07:42:26 GMT

@Anonymous wrote:
@Brian_Earl_Spilner wrote:
Got it. The tag can't be seen if you're not using a computer.
Press and hold the image and it pops up. Not as convenient as running the cursor over it but it works.

Doesn't work. Android phone, chrome, desktop view

Re: Capital One Denied

Anonymous — Sat, 13 Apr 2019 07:47:21 GMT

@Brian_Earl_Spilner wrote:
@Anonymous wrote:
@Brian_Earl_Spilner wrote:
Got it. The tag can't be seen if you're not using a computer.
Press and hold the image and it pops up. Not as convenient as running the cursor over it but it works.
Doesn't work. Android phone, chrome, desktop view

Works on my old HTC 10 running Oreo and Chrome in desktop mode. It’s admittedly not the most elegant way to get to it but it’s there.

... I forgot how slow that old thing is too. I need to buy a newer Android backup phone.

Re: Capital One Denied

MyDataMyChoice — Sat, 13 Apr 2019 16:46:51 GMT

Are you under 21?

If so, you really need 10k+ in income for most credit cards

Re: Capital One Denied

pinkandgrey — Sat, 13 Apr 2019 18:02:38 GMT

Sorry you were denied. Discover is great with low income but most lenders would hesitate with income that low. Cap One really doesn’t recon unfortunately.

Re: Capital One Denied

Lucifer — Sun, 14 Apr 2019 00:11:43 GMT

I don't know, to each their own but I think I might be just gardening and doing my school work for now. You have a decent set of cards already.

Re: Capital One Denied

CreditInspired — Sun, 14 Apr 2019 01:17:58 GMT

@ZackAttack wrote:
Hi,

This is my 3rd time getting denied for Cap 1's Student Journey card. I tried responding them to reconsider the second time with no luck, so I need some help of how I'll respond.

This is the only bullet they put on the denial reasons:
- Based on your credit report from one or more of the agencies on the back of this letter, income is insufficient for requested credit

Fico 3 Score: EX 679
Red Facts:
- Length of time account
- Time since most recent account open
- Too many accounts w/ balance
- Too many inquiries last 12 months

My income is $5772. It would be more but I am a full-time college student.

So at the moment, I honestly got no idea of what should I write back to them to reconsider because they pretty much denied me on the income (same income I put on Discover's student and was approve).

It’s time to let it go. 3 times being denied displays desperate, credit-seeking behavior. You don’t want to be that guy or gal. Wait until your income is about $7.5K and try again.

Re: Capital One Denied

Remedios — Sun, 14 Apr 2019 01:27:05 GMT

I really wish we'd ease up on words such as "desperate, needy, risky" etc.

Most people really dont understand how credit works and that's also how most of us have found this forum.

So, until is possible to differentiate between who's truly " desperate" vs. uninformed and eager, it's best to offer advice without excessive judgement.

Re: Capital One Denied

CreditInspired — Sun, 14 Apr 2019 08:17:06 GMT

@Remedios wrote:
I really wish we'd ease up on words such as "desperate, needy, risky" etc.

Most people really dont understand how credit works and that's also how most of us have found this forum.

So, until is possible to differentiate between who's truly " desperate" vs. uninformed and eager, it's best to offer advice without excessive judgement.

There is a difference between saying someone is “displaying” desperate credit seeking behavior vs. saying that someone is truly desperate. Personally, I would never say someone “is” desperate because I don’t know their specific circumstances.

But, I know for me, when I first joined, I did not see this advice as excessive judgment. I viewed it as learning; and honestly, I was grateful. Otherwise, I would not have learned, or more importantly, taken seriously things like breakout fraud or other credit-seeking behaviors that are deemed risky.

Re: Capital One Denied

Anonymous — Sun, 14 Apr 2019 11:55:29 GMT

The other reason to stop, aside from displaying risky credit-seeking behavior, is that OP is burning triple-HPs for denials every time. Three denials is 9 burned HPs. I wouldn’t want to waste that many...