topic Re: Capital One - Recon? in Credit Card Applications

Capital One - Recon?

tschaet — Fri, 15 Apr 2022 21:59:37 GMT

I have a Quicksilver card with Capital One and decided to try for a CLI. I got a denial that says they based it off of my credit report, but the date of the report they used is two months old!? Is this normal? You'd think they'd run a new soft pull. My FICO score has increased 70 points since then.

I called the customer service line and they connected me with someone who couldn't answer why it was an old one. They just said I'd have to mail in a dispute letter, then wait 30 days for processing, then 7-10 more days for the decision to be mailed to me.

I also read on here that Capital One doesn't recon?

Re: Capital One - Recon?

FinStar — Fri, 15 Apr 2022 22:22:17 GMT

@tschaet wrote:
I have a Quicksilver card with Capital One and decided to try for a CLI. I got a denial that says they based it off of my credit report, but the date of the report they used is two months old!? Is this normal? You'd think they'd run a new soft pull. My FICO score has increased 70 points since then.

I called the customer service line and they connected me with someone who couldn't answer why it was an old one. They just said I'd have to mail in a dispute letter, then wait 30 days for processing, then 7-10 more days for the decision to be mailed to me.

I also read on here that Capital One doesn't recon?

Correct.

Capital One does not reconsider system-declined decisions, whether it's a CLI request and/or a credit application. In the past, they used to on a case-by-case basis. Unfortunately, no longer the case.

FWIW, this is pretty typical of Capital One CLI (SP) decisions. Meaning, there's usually a lag of time from the [periodic review] SP vs when a CLI is requested.

Re: Capital One - Recon?

tschaet — Sat, 16 Apr 2022 03:52:37 GMT

@FinStar wrote:
@tschaet wrote:
I have a Quicksilver card with Capital One and decided to try for a CLI. I got a denial that says they based it off of my credit report, but the date of the report they used is two months old!? Is this normal? You'd think they'd run a new soft pull. My FICO score has increased 70 points since then.

I called the customer service line and they connected me with someone who couldn't answer why it was an old one. They just said I'd have to mail in a dispute letter, then wait 30 days for processing, then 7-10 more days for the decision to be mailed to me.

I also read on here that Capital One doesn't recon?
Correct.

Capital One does not reconsider system-declined decisions, whether it's a CLI request and/or a credit application. In the past, they used to on a case-by-case basis. Unfortunately, no longer the case.

FWIW, this is pretty typical of Capital One CLI (SP) decisions. Meaning, there's usually a lag of time from the [periodic review] SP vs when a CLI is requested.

That's unfortunate. You'd think it would make more sense for them to run a SP when you ask for a CLI and base it off of that and not an old one.