topic Re: Venture approved, Quicksilver Denied in Credit Card Applications

Venture approved, Quicksilver Denied

Anonymous — Wed, 20 May 2015 09:32:55 GMT

So I got the Venture with a 5,000 credit limit, 17.9 APR. And I applied for the Quicksilver Visa RIGHT after that. 7-10 day notice saying they needed more time. Got the secure message this morning saying this: Thank you for applying for a credit card issued by Capital One®. Unfortunately, after reviewing your application and information obtained from your consumer credit report(s) from the agencies detailed on the back of this letter - we cannot approve your request at this time. The reason(s) for our decision are: Based on your credit report from Trans Union, insufficient experience with high lines of credit or credit amounts Based on your credit report from Experian, balance owed on delinquent past or present credit obligation(s) is too high Based on your credit report from one or more of the agencies on the back of this letter, financial obligations are too high compared to income Based on your credit report from one or more of the agencies on the back of this letter, there are too many delinquent past or present credit obligations If you feel we missed something or misread your information, then please write to us at P.O. Box 30280, Salt Lake City, UT 84130-0280 and include your Application ID number referenced above. (Please note: we recommend you contact the credit agencies first to ensure they have accurately reported your information to us. Contact information is provided on the back of this letter.) We know this isn't the answer you were hoping for, but we hope there is an opportunity to provide you new products and services in the future. *000000001* Sincerely, Capital One Customer Care Team. I'm like huh? Venture but no QS? Ok lol

Re: Venture approved, Quicksilver Denied

Anonymous — Wed, 20 May 2015 09:35:42 GMT

Re: Venture approved, Quicksilver Denied

SecretAzure — Wed, 20 May 2015 12:58:22 GMT

Wow this is really interesting. It's almost as if they're saying the Venture has a lower requirement than QS even though they usually get higher limits.

Re: Venture approved, Quicksilver Denied

Anonymous — Wed, 20 May 2015 13:16:57 GMT

That is crazy! I just took the Venture and opted to not get the QS as I had feeling after the 10k SL with 17.9% would yield for QS to be lower and higher APR.

Re: Venture approved, Quicksilver Denied

SecretAzure — Wed, 20 May 2015 13:53:03 GMT

@Anonymous wrote:
That is crazy! I just took the Venture and opted to not get the QS as I had feeling after the 10k SL with 17.9% would yield for QS to be lower and higher APR.

I know I don't need Venture as I don't travel much but if I did, this would be one of the furthest cards down the list to look at (for me). I don't really need a high limit card with such a high interest. I have a low enough interest rate on my BCE and that already has a CL of 18K+ (with more on the way). OP if you are planning on carrying a balance I really would not look at Venture. Bananas1 is correct in saying QS is probably a better fit for you.

Re: Venture approved, Quicksilver Denied

Anonymous — Wed, 20 May 2015 13:35:40 GMT

@SecretAzure wrote:
@Anonymous wrote:
That is crazy! I just took the Venture and opted to not get the QS as I had feeling after the 10k SL with 17.9% would yield for QS to be lower and higher APR.
I know I don't need Venture as I don't travel much but if I did, this would be one of the furthest cards down the list to look at (for me). I don't really need a high limit card with such a high interest. I have a low enough interest rate on my BCE and that already has a CL of 18K+ (with more on the way). OP if you are planning on carrying a balance I really would not look at Venture. Bananas1 is correct in saying QS is probably a better fit for you.

I think your response was supposed to go in another post? no?!

Re: Venture approved, Quicksilver Denied

SecretAzure — Wed, 20 May 2015 13:53:30 GMT

@Anonymous wrote:
@SecretAzure wrote:
@Anonymous wrote:
That is crazy! I just took the Venture and opted to not get the QS as I had feeling after the 10k SL with 17.9% would yield for QS to be lower and higher APR.
I know I don't need Venture as I don't travel much but if I did, this would be one of the furthest cards down the list to look at (for me). I don't really need a high limit card with such a high interest. I have a low enough interest rate on my BCE and that already has a CL of 18K+ (with more on the way). OP if you are planning on carrying a balance I really would not look at Venture. Bananas1 is correct in saying QS is probably a better fit for you.
I think your response was supposed to go in another post? no?!

Probably. Disregard it if it makes no sense LOL. Too many tabs and too many work distractions.

Re: Venture approved, Quicksilver Denied

Anonymous — Wed, 20 May 2015 18:35:32 GMT

Yeah I should have gardened until August. EQ had one CO and EX had a collection. They would have been gone. Plus my credit steps cards would have been finished next month. Oh well, I went with the strike while the iron is hot method because of the Pre-approvals. Got the Venture. Only one triple pull though thankfully haha. Does this seem right to guys though? I'm guessing that 5,000 may have just been my internal limit with them at this time, but I don't really know that for sure.

Re: Venture approved, Quicksilver Denied

Anonymous — Thu, 21 May 2015 01:19:38 GMT

interesting~

Re: Venture approved, Quicksilver Denied

NRB525 — Thu, 21 May 2015 03:54:37 GMT

@Anonymous wrote:
Yeah I should have gardened until August. EQ had one CO and EX had a collection. They would have been gone. Plus my credit steps cards would have been finished next month. Oh well, I went with the strike while the iron is hot method because of the Pre-approvals. Got the Venture. Only one triple pull though thankfully haha. Does this seem right to guys though? I'm guessing that 5,000 may have just been my internal limit with them at this time, but I don't really know that for sure.

Congratulations on getting the Venture. I would agree you seem to have used your internal limit at present on this card.

With all those future updates that will brighten your file, plus the bonus spend and PIF you have with the Venture, you should be well placed if you decide to try for QS again later this year.

Re: Venture approved, Quicksilver Denied

Anonymous — Thu, 21 May 2015 06:18:45 GMT

Oh i definitely will be getting it later this year. It's the Quicksilver I actually want.

Re: Venture approved, Quicksilver Denied

Anonymous — Thu, 21 May 2015 10:45:12 GMT

Recon....the denial was computer generated....they denied me and I recon and was approved....

Re: Venture approved, Quicksilver Denied

Anonymous — Thu, 21 May 2015 10:52:33 GMT

Actually it wasn't a denial at first. 7-10 day message saying we need more time to look into this for you. Called credit analyst and she said I would have to wait for the email results becuase she didn't have any more information, as they were doing a manual review, I guess that's what they do in their back office. Then a few days later, that email came

Re: Venture approved, Quicksilver Denied

SecretAzure — Thu, 21 May 2015 13:35:52 GMT

@Anonymous wrote:
Actually it wasn't a denial at first. 7-10 day message saying we need more time to look into this for you. Called credit analyst and she said I would have to wait for the email results becuase she didn't have any more information, as they were doing a manual review, I guess that's what they do in their back office. Then a few days later, that email came

Call/email the EO and say you're willing to shift CL from your Venture to QS. When Venture gets an increase, it's usually significant anyways. Why get it later when you havn't yet exhausted all the things you could try to get it today?

Re: Venture approved, Quicksilver Denied

Anonymous — Fri, 22 May 2015 21:53:32 GMT

I couldn't do that right now anyways, I only got approved for the min 5k SL