topic Re: Quicksilver Denial in Credit Card Applications

Quicksilver Denial

rgd51 — Wed, 28 Feb 2024 05:21:53 GMT

I applied for it and got denied and the denial reason was too many accounts opened in the last 24 months. I'm only 3/24 and 1/12 though so this came as a shocker. My fico is over 800 and I have never had any baddies on my report ever and my oldest account is over 9 years.

Re: Quicksilver Denial

Horseshoez — Wed, 28 Feb 2024 07:03:48 GMT

@rgd51 wrote:
I applied for it and got denied and the denial reason was too many accounts opened in the last 24 months. I'm only 3/24 and 1/12 though so this came as a shocker. My fico is over 800 and I have never had any baddies on my report ever and my oldest account is over 9 years.

There seems to be a trend with CapOne for anything other than their Venture cards, the better your credit, the worse your chances are for approval and when you are approved, the lower your starting limit. With your scores, if you want a 1.5% cash back card, I'd opt for a Chase Freedom Unlimited instead.

Re: Quicksilver Denial

rgd51 — Wed, 28 Feb 2024 07:19:53 GMT

I already have the chase freedom unlimited and Amex cash magnet but I received a targeted offer for a $300 SUB on the QS which is why I applied for it. I guess I will go back to the garden for the time being.

Re: Quicksilver Denial

Linnaea — Wed, 28 Feb 2024 10:55:45 GMT

That seems off. I would call Capital One seems that something may of pulled up someone else.

@rgd51 wrote:
I already have the chase freedom unlimited and Amex cash magnet but I received a targeted offer for a $300 SUB on the QS which is why I applied for it. I guess I will go back to the garden for the time being.

Re: Quicksilver Denial

rgd51 — Wed, 28 Feb 2024 10:59:24 GMT

@Linnaea wrote:
That seems off. I would call Capital One seems that something may of pulled up someone else.

@rgd51 wrote:
I already have the chase freedom unlimited and Amex cash magnet but I received a targeted offer for a $300 SUB on the QS which is why I applied for it. I guess I will go back to the garden for the time being.

In the application they asked me if I plan to keep a balance or always PIF. I chose PIF because I didn't want to lie as I've never paid a penny of interest on a credit card my entire life. They also asked if I planned to transfer a balance and I chose no on that as well. Maybe that had something to do with it? My newest account was opened 4 months ago which is an Amex Blue Cash Everyday but that was about a year after I had opened up an Amex cash magnet.

Re: Quicksilver Denial

CorpCrMgr1 — Wed, 28 Feb 2024 14:53:21 GMT

Sorry for your denial. There's better cards out there. Good luck!

Re: Quicksilver Denial

rgd51 — Wed, 28 Feb 2024 18:33:33 GMT

@CorpCrMgr1 wrote:
Sorry for your denial. There's better cards out there. Good luck!

Think I have a good shot at a recon? I never thought cap one would be sensitive to someone who is 3/24 and 1/12.

Re: Quicksilver Denial

Slabenstein — Wed, 28 Feb 2024 19:16:06 GMT

@rgd51 wrote:
@CorpCrMgr1 wrote:
Sorry for your denial. There's better cards out there. Good luck!
Think I have a good shot at a recon? I never thought cap one would be sensitive to someone who is 3/24 and 1/12.

To my knowledge, Cap1 doesn't do recons.

Re: Quicksilver Denial

rgd51 — Wed, 28 Feb 2024 19:23:39 GMT

@Slabenstein wrote:
@rgd51 wrote:
@CorpCrMgr1 wrote:
Sorry for your denial. There's better cards out there. Good luck!
Think I have a good shot at a recon? I never thought cap one would be sensitive to someone who is 3/24 and 1/12.
To my knowledge, Cap1 doesn't do recons.

Have they always been like that?

Re: Quicksilver Denial

GZG — Wed, 28 Feb 2024 19:28:22 GMT

@rgd51 wrote:
I already have the chase freedom unlimited and Amex cash magnet but I received a targeted offer for a $300 SUB on the QS which is why I applied for it. I guess I will go back to the garden for the time being.

an online targeted offer email/credit wise or a mailer?

without using the online pre-approval tool, it's impossible to know if you'll be approved, many, many posts of people with mailers being outright rejected unfortunately.

This is a case of "it's not you, it's me, you're just not my type" as opposed to any indictment of your credit being bad or anything.

no recon unfortunately, they'll just pull your reports again and decline you again.

as far as I know, they've been like that, in the before times when the EO was more willing to intervene, perhaps there was a way to get manual reconsideration but not that I'm aware of personally.

Re: Quicksilver Denial

rgd51 — Wed, 28 Feb 2024 19:32:53 GMT

@GZG wrote:
@rgd51 wrote:
I already have the chase freedom unlimited and Amex cash magnet but I received a targeted offer for a $300 SUB on the QS which is why I applied for it. I guess I will go back to the garden for the time being.
an online targeted offer email/credit wise or a mailer?

without using the online pre-approval tool, it's impossible to know if you'll be approved, many, many posts of people with mailers being outright rejected unfortunately.

This is a case of "it's not you, it's me, you're just not my type" as opposed to any indictment of your credit being bad or anything.

no recon unfortunately, they'll just pull your reports again and decline you again.

as far as I know, they've been like that, in the before times when the EO was more willing to intervene, perhaps there was a way to get manual reconsideration but not that I'm aware of personally.

What do you mean by the "it's not you it's me"?

Re: Quicksilver Denial

GZG — Wed, 28 Feb 2024 19:38:38 GMT

@rgd51 wrote:
@GZG wrote:
@rgd51 wrote:
What do you mean by the "it's not you it's me"?

your credit is great, but your profile suggests Cap1 isn't going to make money giving you the $300 SUB, so they declined you.

other banks would be happy to give SUBs to great credit customers, just not Capital One, it's not their business model.

Re: Quicksilver Denial

rgd51 — Wed, 28 Feb 2024 19:41:07 GMT

@GZG wrote:
@rgd51 wrote:
@GZG wrote:
@rgd51 wrote:
What do you mean by the "it's not you it's me"?
your credit is great, but your profile suggests Cap1 isn't going to make money giving you the $300 SUB, so they declined you.

other banks would be happy to give SUBs to great credit customers, just not Capital One, it's not their business model.

Then why do so many people on this site have the QS despite PIF? If that was their denial reason they should have said so. Never thought being 1/12 and 3/24 would cause me to get denied for a card.

Re: Quicksilver Denial

GZG — Wed, 28 Feb 2024 19:47:47 GMT

@rgd51 wrote:
@GZG wrote:
@rgd51 wrote:
@GZG wrote:
@rgd51 wrote:
What do you mean by the "it's not you it's me"?
your credit is great, but your profile suggests Cap1 isn't going to make money giving you the $300 SUB, so they declined you.

other banks would be happy to give SUBs to great credit customers, just not Capital One, it's not their business model.
Then why do so many people on this site have the QS despite PIF? If that was their denial reason they should have said so. Never thought being 1/12 and 3/24 would cause me to get denied for a card.

they never have to give "the" denial reason, just "a" denial reason and Capital One can't just be like:

"yeah, you're not profitable, no thanks"

many people on here may have gotten the quicksilver earlier on in their credit journey where Cap1 would be more likely to give a SUB, some have gotten the card without the SUB "for good credit" version. I had a quicksilver that was product changed from a platinum, and I voluntarily opened the savor one without a SUB (cap1 won't give me a SUB either) because I wanted the Uber benefits for the rest of the year

there's a 99% chance you weren't denied for being 1/12, 3/24 despite that being what the letter said.

you were most likely denied because Cap 1 doesn't see you as a profitable customer for that SUB.

If you want to try the pre-approval, you'll most likely be pre-approved for the 'for good credit' version of their cards, which has no SUB:

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

Re: Quicksilver Denial

rgd51 — Wed, 28 Feb 2024 19:53:47 GMT

@GZG wrote:
@rgd51 wrote:
@GZG wrote:
@rgd51 wrote:
@GZG wrote:
@rgd51 wrote:
What do you mean by the "it's not you it's me"?
your credit is great, but your profile suggests Cap1 isn't going to make money giving you the $300 SUB, so they declined you.

other banks would be happy to give SUBs to great credit customers, just not Capital One, it's not their business model.
Then why do so many people on this site have the QS despite PIF? If that was their denial reason they should have said so. Never thought being 1/12 and 3/24 would cause me to get denied for a card.
they never have to give "the" denial reason, just "a" denial reason and Capital One can't just be like:

"yeah, you're not profitable, no thanks"

many people on here may have gotten the quicksilver earlier on in their credit journey where Cap1 would be more likely to give a SUB, some have gotten the card without the SUB "for good credit" version. I had a quicksilver that was product changed from a platinum, and I voluntarily opened the savor one without a SUB (cap1 won't give me a SUB either) because I wanted the Uber benefits for the rest of the year

there's a 99% chance you weren't denied for being 1/12, 3/24 despite that being what the letter said.

you were most likely denied because Cap 1 doesn't see you as a profitable customer for that SUB.

If you want to try the pre-approval, you'll most likely be pre-approved for the 'for good credit' version of their cards, which has no SUB:

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

The good credit version is exactly what the pre-approval had given when I did the pre-approval prior to applying. When they denied me why didn't they offer the good credit version?

Re: Quicksilver Denial

GZG — Wed, 28 Feb 2024 19:58:57 GMT

@rgd51 wrote:
@GZG wrote:
@rgd51 wrote:
@GZG wrote:
@rgd51 wrote:
@GZG wrote:
@rgd51 wrote:
The good credit version is exactly what the pre-approval had given when I did the pre-approval prior to applying. When they denied me why didn't they offer the good credit version?

sometimes Cap1's system offers a counter-offer, sometimes it doesn't.

only Cap1 would understand why they do that.

my best guess is that Cap1 runs off of the same technology for approvals that worked in 2010, so this is the best we get and they have no current incentive to invest a bunch of money in fixing it.

hopefully with their discover aqquisition, we see an increase of transparency in their card approval process and we get something closer to Amex/Apple card than we currently have.

Re: Quicksilver Denial

Doodlebug30 — Wed, 28 Feb 2024 20:22:59 GMT

I had the same experience with cap one. I applied with an 809 fico and 1% utilization And I was shocked they denied me. Don't remember the reason now but it was BS

Re: Quicksilver Denial

rgd51 — Wed, 28 Feb 2024 22:12:18 GMT

I called and asked for a recon and was told it would be treated as another application with a potentially 2nd HP and the CSR could barely tell me anything. I decided not to do the recon since that would be a 2nd triple pull despite an inquiry being done yesterday.

Re: Quicksilver Denial

youngandcreditwrthy — Fri, 01 Mar 2024 18:00:38 GMT

hahhaha your score is too high for cap one my friend.

Re: Quicksilver Denial

youngandcreditwrthy — Fri, 01 Mar 2024 18:02:52 GMT

You could try to contact the exec office or email the president **bleep** fairbanks (his email is easy to guess)

Ive been denied on cap ones pre approvals about 3x now. Cap one's pre approvals are not worth much.