topic Re: Denied for Venture Card with strange explanation in Credit Card Applications

Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:01:45 GMT

Has anyone ever heard this before? I was deined for a Capital One Venture card and this is what it said:

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 application information, Capital One account credit limit(s) are too high

Has anyone ever had this denial reason? What does it even mean? i have a QS1 with a $7000 limit and C1 Platinum with $3000. Certainly I havent exceeded any crazy ammoun with them? I really dont understand this and when I called to inquire I was told they cant tell me anything about it over the phone and I would have to contact the credit bureau. Is there anything I can do about it?

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:14:36 GMT

Maybe try to PC the platinum to a Venture?

Re: Denied for Venture Card with strange explanation

Maddog_ — Sun, 26 Jul 2015 19:16:18 GMT

@Anonymous wrote:
Has anyone ever heard this before? I was deined for a Capital One Venture card and this is what it said:

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 application information, Capital One account credit limit(s) are too high

Has anyone ever had this denial reason? What does it even mean? i have a QS1 with a $7000 limit and C1 Platinum with $3000. Certainly I havent exceeded any crazy ammoun with them? I really dont understand this and when I called to inquire I was told they cant tell me anything about it over the phone and I would have to contact the credit bureau. Is there anything I can do about it?

It's probably based on the income you reported to them, along with a DTI calculation of your overall monthly payments. Capital One can be very stingy sometimes. They tend to be very generous if you have higher income and few revolvers.

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:20:18 GMT

What is PC?

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:22:09 GMT

@Anonymous wrote:
What is PC?

Product Change. Change the platinum to Venture

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:25:27 GMT

awesome, I will try that! Thank you

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:26:29 GMT

@Anonymous wrote:
awesome, I will try that! Thank you

You're welcome. Good luck

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:40:37 GMT

Update!! Called this number: 877 513 9959. Actually spoke with someone I could understand, so that was win #1! They upgraded my Platinum to a Venture One and Upgraded my QS1 to a regular Quicksilver. So I got rid of two annual fees and gained another rewards card! Im quite happy about this! Unfortuately I am missing out on the sign-up bonus miles with the Venture, but at least I got rid of the Platinum which was giving me no rewards AND costing me an annual fee. All in all Im pretty happy with Capital One and their products!

Re: Denied for Venture Card with strange explanation

sunkissed — Sun, 26 Jul 2015 19:46:11 GMT

@Anonymous wrote:
Update!! Called this number: 877 513 9959. Actually spoke with someone I could understand, so that was win #1! They upgraded my Platinum to a Venture One and Upgraded my QS1 to a regular Quicksilver. So I got rid of two annual fees and gained another rewards card! Im quite happy about this! Unfortuately I am missing out on the sign-up bonus miles with the Venture, but at least I got rid of the Platinum which was giving me no rewards AND costing me an annual fee. All in all Im pretty happy with Capital One and their products!

Cool beans! I'm happy it all worked out for you Congrats on the upgrades.

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:48:47 GMT

woohoo!

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:50:25 GMT

@Anonymous wrote:
Update!! Called this number: 877 513 9959. Actually spoke with someone I could understand, so that was win #1! They upgraded my Platinum to a Venture One and Upgraded my QS1 to a regular Quicksilver. So I got rid of two annual fees and gained another rewards card! Im quite happy about this! Unfortuately I am missing out on the sign-up bonus miles with the Venture, but at least I got rid of the Platinum which was giving me no rewards AND costing me an annual fee. All in all Im pretty happy with Capital One and their products!

That's great news! You even got that accomplished on a Sunday, go CO!

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 19:55:16 GMT

Congrats

Re: Denied for Venture Card with strange explanation

9CLINE — Sun, 26 Jul 2015 20:21:16 GMT

Congrats on PC's......

Re: Denied for Venture Card with strange explanation

Anonymous — Sun, 26 Jul 2015 20:24:23 GMT

Congrats on the PCs! No more AF is always a good way to go.

Re: Denied for Venture Card with strange explanation

OmarGB9 — Sun, 26 Jul 2015 22:05:45 GMT

Grats on the successful PCs!