topic Am I out of luck with capital one??? And weird credit score in Credit Card Applications

Am I out of luck with capital one??? And weird credit score

folks19 — Wed, 03 Mar 2021 05:27:55 GMT

I just filled out the pre approved on c1's website and I got denied for the following reason:

Based on your credit report from one or more of the agencies below, there are too many new revolving accounts

I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.

Re: Am I out of luck with capital one??? And weird credit score

AllZero — Wed, 03 Mar 2021 05:33:23 GMT

@folks19 wrote:
I just filled out the pre approved on c1's website and I got denied for the following reason:
Based on your credit report from one or more of the agencies below, there are too many new revolving accounts
I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.

839 appears to be a Transunion FICO 4 score.

Perhaps, wait at least 6 months if not longer and try the pre-qualification site in the future to see if you have any offers before actually applying?

Re: Am I out of luck with capital one??? And weird credit score

FinStar — Wed, 03 Mar 2021 05:44:06 GMT

As suggested upthread as far as gardening, of the 8 credit cards, how many of those did you open in the past 12 months?

Re: Am I out of luck with capital one??? And weird credit score

Ficoproblems247 — Wed, 03 Mar 2021 14:09:22 GMT

@AllZero wrote:
@folks19 wrote:
I just filled out the pre approved on c1's website and I got denied for the following reason:
Based on your credit report from one or more of the agencies below, there are too many new revolving accounts
I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.
839 appears to be a Transunion FICO 4 score.

Perhaps, wait at least 6 months if not longer and try the pre-qualification site in the future to see if you have any offers before actually applying?

+1 to them using TU FICO 4, and +1 to them being new account sensitive. I tested this myself last fall when I crossed the 6 months since new account mark. I have no interest in another Cap1 card, just wanted to confirm DPs I had been reading about them. When I tried the pre-approval site before my new accounts turned 6 months it was no dice. Reasons they gave were new accounts and number of inqs. I tried again after 6 months and had instant pre-approval. Now to add another +1 to Finstars advice to garden. If you have 8 open cards, why are you going for a Cap1 card? Unless it's the Venture or Savor and looking for a nice SUB.

Re: Am I out of luck with capital one??? And weird credit score

folks19 — Sun, 14 Mar 2021 06:10:55 GMT

@Ficoproblems247 I'm interested in the sign up bonus.

Small update: I checked the pre approval again, and this time I got pre approved for the secured card... 8 cards and a 740 FICO...

The interesting part is that I was denied for the secured card a while back when I was building.

Re: Am I out of luck with capital one??? And weird credit score

sarge12 — Sun, 14 Mar 2021 06:26:46 GMT

@AllZero wrote:
@folks19 wrote:
I just filled out the pre approved on c1's website and I got denied for the following reason:
Based on your credit report from one or more of the agencies below, there are too many new revolving accounts
I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.
839 appears to be a Transunion FICO 4 score.

Perhaps, wait at least 6 months if not longer and try the pre-qualification site in the future to see if you have any offers before actually applying?

Also keep in mind that Capital One will do a triple pull, resulting in an inquiry at all 3 CBA's.

Re: Am I out of luck with capital one??? And weird credit score

MrZero — Sun, 14 Mar 2021 09:10:47 GMT

The triple pull and out of date info I was provided/read is what made me regret getting CapOne's secured card. Also why I kind of lost interest in applying for Savor at some point.

IMO they're one you really have to consider if the pulls are worth it, especially while building or rebuilding.

Re: Am I out of luck with capital one??? And weird credit score

Anonymous — Sun, 14 Mar 2021 10:07:25 GMT

@sarge12 wrote:
@AllZero wrote:
@folks19 wrote:
I just filled out the pre approved on c1's website and I got denied for the following reason:
Based on your credit report from one or more of the agencies below, there are too many new revolving accounts
I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.
839 appears to be a Transunion FICO 4 score.

Perhaps, wait at least 6 months if not longer and try the pre-qualification site in the future to see if you have any offers before actually applying?
Also keep in mind that Capital One will do a triple pull, resulting in an inquiry at all 3 CBA's.

Eek. Good to know. 🙏🏻

Re: Am I out of luck with capital one??? And weird credit score

Ficoproblems247 — Sun, 14 Mar 2021 12:05:39 GMT

@folks19 thank you for updating with DPs, thats great info. I know you said you have 8 open accounts, and that the most recent was from 2 months ago, but could you tell us how many you have opened within the last 6 months, and the last 12 months? Those specifics could be super helpful for other members asking the same questions. This may mean that Cap1 is loosening up a bit on new apps with cards opened under 6 months now. Thank you for you input, always much appreciated!

Re: Am I out of luck with capital one??? And weird credit score

Anonymous — Sun, 14 Mar 2021 13:46:51 GMT

For DPs and giggles, I just ran a prequal. Scores and UTI in sig below. Account-wise I am:

1/3

5/6

6/12

They offered me a secured card lol. No interest in apping with them anyhow as I am not in the least impressed with anything they offer. I did it for the DPs for those looking. Hope it helps someone.

Re: Am I out of luck with capital one??? And weird credit score

folks19 — Sun, 14 Mar 2021 18:20:16 GMT

@Ficoproblems247 wrote:
@folks19 thank you for updating with DPs, thats great info. I know you said you have 8 open accounts, and that the most recent was from 2 months ago, but could you tell us how many you have opened within the last 6 months, and the last 12 months? Those specifics could be super helpful for other members asking the same questions. This may mean that Cap1 is loosening up a bit on new apps with cards opened under 6 months now. Thank you for you input, always much appreciated!

Most recent is 2 months old, and I think i applied for 3 others in the last 6 months.

Why do you think x1 is loosening up? Because I was pre approved for the secured?

Re: Am I out of luck with capital one??? And weird credit score

Ficoproblems247 — Sun, 14 Mar 2021 18:52:56 GMT

@folks19 wrote:
@Ficoproblems247 wrote:
@folks19 thank you for updating with DPs, thats great info. I know you said you have 8 open accounts, and that the most recent was from 2 months ago, but could you tell us how many you have opened within the last 6 months, and the last 12 months? Those specifics could be super helpful for other members asking the same questions. This may mean that Cap1 is loosening up a bit on new apps with cards opened under 6 months now. Thank you for you input, always much appreciated!
Most recent is 2 months old, and I think i applied for 3 others in the last 6 months.
Why do you think x1 is loosening up? Because I was pre approved for the secured?

They were very consistently denying people with new accounts less than 6 months old for awhile. Mainly from last spring through the fall as a lot of DPs during that time pointed to. It sounds like they are back to being a lot looser on the new account front which will be a welcome change for a lot of people that are looking to apply for them. Thanks for sharing, lenders change policies all the time, and we would never know if people didn't report back what they find!