topic QUICKSILVER DENIED in Credit Card Applications

QUICKSILVER DENIED

Doodlebug30 — Sat, 01 Jul 2023 00:03:34 GMT

My fiance sent me a referral link. FICOs all between 768-786 at the time of application. Income 109,000. I'm 2/12 and 0/6 for new accts. No derogs. I'm shocked at the the flat out denial tbh....

Does capital one hold grudges? I did burn them for 1,000 when I was a kid but that was 15 years ago.

Re: QUICKSILVER DENIED

Brian_Earl_Spilner — Sat, 01 Jul 2023 00:44:19 GMT

They can hold a grudge, but they typically don't like people with really good credit.

Re: QUICKSILVER DENIED

Doodlebug30 — Sat, 01 Jul 2023 01:13:04 GMT

They don't?? Why?! Lol I pay my bills!

Re: QUICKSILVER DENIED

Brian_Earl_Spilner — Sat, 01 Jul 2023 01:34:10 GMT

@Doodlebug30 wrote:
They don't?? Why?! Lol I pay my bills!

You're not their target demographic.

Re: QUICKSILVER DENIED

Horseshoez — Sat, 01 Jul 2023 01:46:25 GMT

@Brian_Earl_Spilner wrote:
@Doodlebug30 wrote:
They don't?? Why?! Lol I pay my bills!
You're not their target demographic.

^This!

I got my Quicksilver card less than a year after my Chapter 13 discharge with a starting limit of $3,000 (since grown to $6,300); two years down the road my income was, well, comfortably high, I had zero debt, and my scores were all 835 or higher (FICO 8 was 850 across the board), so when CapOne sent me a pre-approval for a SavorOne; I was expecting a very nice credit limit..., nope! It came with a credit limit of $2,000 and that's where it stands over a year later.

Re: QUICKSILVER DENIED

Doodlebug30 — Sat, 01 Jul 2023 02:06:21 GMT

Jeez. Maybe I dodged a bullet then. I only really wanted it bc of $200 bonus for $500 spend. Plus my fiance will get a $100 referral bonus. I guess there's other bonus' to be had.

Re: QUICKSILVER DENIED

Doodlebug30 — Sat, 01 Jul 2023 23:07:41 GMT

I wanted to update this, I got an email with my denial letter. It states that I have too many open accts in 24 months and then reason ##2 was too many revolving accts. I have 14 total revolvers. I'm 5/24. I thought 5/24 was a chase thing? Whatever. I'm over it lol

Re: QUICKSILVER DENIED

GZG — Sat, 01 Jul 2023 23:19:00 GMT

@Doodlebug30 wrote:
Jeez. Maybe I dodged a bullet then. I only really wanted it bc of $200 bonus for $500 spend. Plus my fiance will get a $100 referral bonus. I guess there's other bonus' to be had.

you need to check their pre-approval tool to see what they would be willing to offer you, it wouldn't surpirse me if it came up secured cards, or the version without the bonus

I'm rather surprised they didn't counter offer you an offer with the card without the bonus

https://www.capitalone.com/credit-cards/preapprove/u/?landingPage=quicksilver

they 'correctly' determined you were a $300 loss, they're pretty good at that, anti-churn, pro-people who pay interest is their business model