topic Re: Capital One Quicksilver DENIAL - High Scores & CLs in Credit Card Applications

Capital One Quicksilver DENIAL - High Scores & CLs

Anonymous — Fri, 19 Mar 2021 21:58:48 GMT

After a long hiatus from the forums, I'm back!

Applied for the Capital One Quicksilver card today and recieved an unexpected instant denial . Immediately called for recon, and was told I must first wait the 7-10 business days to receive my denial letter before I can recon. What gives!?!?!

Stats:

FICO: EQ - 729 TU - 747 EX - 746

Total CLs: $38,050

Usage: 4%

Income: $60,000

AAoA: 1y 5m

AoOA: 2y 1m

AoYA: 5m

Re: Capital One Quicksilver DENIAL - High Scores & CLs

blindambition — Fri, 19 Mar 2021 21:40:18 GMT

They are sensitive to inquiries and new accounts. How many in 12 months, 24 months? Any derogatory?

Re: Capital One Quicksilver DENIAL - High Scores & CLs

Anonymous — Fri, 19 Mar 2021 22:00:55 GMT

No derogs

12mo IQs: TU - 0 EQ - 2 EX - 1

24mo IQs: TU - 4 EQ - 8 EX - 9 (2 of which were for mortgage prequalifications, should "combine," and 1 an auto loan, neither fulfilled)

Re: Capital One Quicksilver DENIAL - High Scores & CLs

Ficoproblems247 — Fri, 19 Mar 2021 21:52:38 GMT

Agree with the new account sensitivity but your last 12 months doesn't look too bad. I'd be curious to know their denial reasons. Be sure to share with the group (if you would like to) when you receive your letter. I'm very sorry for your denial, OP.

Re: Capital One Quicksilver DENIAL - High Scores & CLs

Anonymous — Fri, 19 Mar 2021 21:54:33 GMT

Absolutely, I keep y'all posted on the results of the letter.

Re: Capital One Quicksilver DENIAL - High Scores & CLs

blindambition — Fri, 19 Mar 2021 21:55:30 GMT

Wait for letter. I wasn't aware CO was doing recon, but maybe so, since rep said to call back. If so, and its inquiries, explain the auto and home loans.

Re: Capital One Quicksilver DENIAL - High Scores & CLs

barca — Fri, 19 Mar 2021 23:01:06 GMT

@Anonymous

did you freeze your credit reports?

Re: Capital One Quicksilver DENIAL - High Scores & CLs

Anonymous — Fri, 19 Mar 2021 23:42:21 GMT

Unfroze all prior to applying, and checked all after to confirm Capital One drew from all three.

Re: Capital One Quicksilver DENIAL - High Scores & CLs

csl1 — Fri, 19 Mar 2021 23:52:05 GMT

I'm sorry to hear about your denial. Cap1 is a strange bird. They seem to approve/deny without any rhyme or reason. Best wishes on your recon.

Re: Capital One Quicksilver DENIAL - High Scores & CLs

4sallypat — Sat, 20 Mar 2021 14:31:44 GMT

Agree Cap 1 is very strange - have had their QS card for over 5 years and same SL - no CLI even after requesting online...

Re: Capital One Quicksilver DENIAL - High Scores & CLs

Anonymous — Sat, 20 Mar 2021 22:58:55 GMT

Received my decision e-letter today. The sole reason they provide is "Based on your credit report from one or more of the agencies on the back of this letter, there are too many revolving accounts." I'll contact recon on Monday and see if there's anything they can do about reversing that decision as it seems kinda lame.

Re: Capital One Quicksilver DENIAL - High Scores & CLs

FinStar — Sat, 20 Mar 2021 23:36:07 GMT

I would temper expectations, OP. Capital One is known for not being able to have flexibility on reconsiderations. Unless, somehow in the last couple of months they've relaxed their policies, they typically cannot reverse system-declined decisions.

Re: Capital One Quicksilver DENIAL - High Scores & CLs

Anonymous — Tue, 23 Mar 2021 10:31:13 GMT

7 is too many for them? You have opened quite a few in the last two years but that doesn't seem overly high of an amount