topic Re: CapOne expert help in Credit Card Applications

CapOne expert help

Anonymous — Tue, 28 Jul 2015 19:31:41 GMT

I received a "prequalified offer" for a Cap One GM card today. Are these pretty solid? It says you can't have applied for 2 or more Cap One cards in last 30 days. I applied and was approved for a QS1 17 days ago. Since they triple pulled me does that count as 3 apps or 1 in last 30 days.

I also have 4 cap one cards now (1 being a business one) and I've heard there is a limit. My credit is in rebuilding mode so I was shocked it said prequalified. I do need a new car in about a year. I was about to start my year of guardening before this came. My other cap one card limits are 5k, 3.5k, 1.5k and 500 (the one just opened). I thought this rewards could help me save up for money towards a new Chevy Cruze along with my paid off trade in.

I'm usually embarrassed to post on here because of rebuilding. Any advice would be appreciated.

Re: CapOne expert help

woodsie1 — Tue, 28 Jul 2015 20:16:27 GMT

Cap One pre approvals are pretty solid. The triple pull counts as one application, so you should be okay in that regard. I'm pretty sure some the experts can chime in and offer some sound advice.

Re: CapOne expert help

Anonymous — Tue, 28 Jul 2015 20:45:43 GMT

Never mind. DECLINED

Re: CapOne expert help

Anonymous — Tue, 28 Jul 2015 21:03:49 GMT

Wow, declined with a pre qual. Very rare from what I've seen.

Re: CapOne expert help

Anonymous — Tue, 28 Jul 2015 21:14:38 GMT

Yup, nothing like a "thanks sucker/loser" to get me in the garden. Guess I'll sd my cap one cards and just use my virgin America card for awhile.

Re: CapOne expert help

OmarGB9 — Tue, 28 Jul 2015 21:35:29 GMT

Sorry to hear about the decline. Always sucks.

Re: CapOne expert help

woodsie1 — Tue, 28 Jul 2015 22:51:36 GMT

Sorry about the decline. Was it a pre qualify letter thru snail mail or was it from the site?

Re: CapOne expert help

Anonymous — Tue, 28 Jul 2015 22:56:02 GMT

Cap One GM is a partner card that has different requirements than those of the main line cards. From what I understand they don't pull all 3 reports for the Cap One GM. The Cap One online site for preapprovals are solid, but the partner card is obviously different. The max on main line cards I believe is 5 (which is how many I currently have). 2 Ventures, 1 VentureOne, 1 Quicksilver, and 1 Platinum.

Re: CapOne expert help

Anonymous — Tue, 28 Jul 2015 23:30:47 GMT

Sorry about this. One good thing is when you are ready for that car you won't feel limited to just a GM product now. I would show usage on your other cap one cards and your virgin card and try to hold off applying for a year until there is a card you really really want, that way you don't have to worry about only trying to apply for one you received a mailer for. It'll get better. I and others on here get declined as well from time to time.

Re: CapOne expert help

morgacj2004 — Tue, 28 Jul 2015 23:41:35 GMT

Maybe just like what we saw with DC we are now seeing the CO gravy train come to a halt. Have not recently seen as many huge ICL approvals as prev seen on this forum!

Re: CapOne expert help

Anonymous — Wed, 29 Jul 2015 03:47:42 GMT

Id like to add never be embarrassed here. ALOT of us are or have been rebuilders! Be proud of any success you've made and be proud for taking an interest in your credit and finances. No shame in that!

Re: CapOne expert help

Anonymous — Wed, 29 Jul 2015 04:05:42 GMT

+1 to CreditForDummies101.

Re: CapOne expert help

FinStar — Wed, 29 Jul 2015 04:37:28 GMT

@Anonymous wrote:
I received a "prequalified offer" for a Cap One GM card today. Are these pretty solid? It says you can't have applied for 2 or more Cap One cards in last 30 days. I applied and was approved for a QS1 17 days ago. Since they triple pulled me does that count as 3 apps or 1 in last 30 days.

I also have 4 cap one cards now (1 being a business one) and I've heard there is a limit. My credit is in rebuilding mode so I was shocked it said prequalified. I do need a new car in about a year. I was about to start my year of guardening before this came. My other cap one card limits are 5k, 3.5k, 1.5k and 500 (the one just opened). I thought this rewards could help me save up for money towards a new Chevy Cruze along with my paid off trade in.

I'm usually embarrassed to post on here because of rebuilding. Any advice would be appreciated.

I wonder what reasons they provided for declining your application? Seems like you have some good CLs on your other Capital One CCs. Sorry to hear it didn't turn out as expected.

Also, as someone mentioned earlier, don't ever feel embarrased about your rebuilding efforts and posting on this subforum. A lot of individuals are always willing to help out and point you in the right direction when it comes to rebuilding your profile. It's how you learn!

Re: CapOne expert help

NY2014 — Wed, 29 Jul 2015 05:13:50 GMT

Hey buddy couldn't help to respond to your post....

Twelve months ago i was in that rebuild stage as well, My only CC was $300. credit limit for the past 3 years, until i found this forum, alot of knowledge, support, that wereor had hurdles to overcome rebuilding It does not happen over night ! the easy part is getting over it. the hardest part is keeping. I hated Cap One, told everyone the same thing you are.I did not post for 5 months Felt the same way,but guess what ? it was time to overcome that, don't be so hard yourself ,You'll be thanking yourself..

and also the Sd.its not ready for that yet.. .

I pm you a good Cap 1 E.O .that will listen in the future, Welcome to Myfico family .

Regards

" trust is a prerequisite, if you can't trust yourself how can you trust others "

Re: CapOne expert help

Anonymous — Wed, 29 Jul 2015 15:12:15 GMT

Thank you NY! I got my email with decline letter and only reason was no mortgage history. I called in. My name is Kristen and I have a middle and last name like most people.

Well, the preapproval letter had my first, middle and last name on it. My other cap one cards have just first and last. My EQ has just my first and last. She said since the middle name is not on my EQ credit report (which was auto filled in from the preapproval letter), I was declined lol. She said the prescreen offer must have came from EX or TU and nothing she could do and advised me to cold app without my middle name lol. Credit is so confusing

Re: CapOne expert help

NY2014 — Wed, 29 Jul 2015 15:53:16 GMT

Great to hear your making progress and followed up on it . yes Credit is can be confusinge especially today's data industry I did not know from a CRA/IRS,IDA, on and on until found this forum, and I thank everyone here for tremendous support/ constructive or positive it all help.just need to stay on top of it ..,,

I would advise you to check all your credit reports and make sure they have all the right information especially EQ, they are the worst bubble heads

and thank for the report back appreciated ..

Regards

Re: CapOne expert help

Anonymous — Wed, 29 Jul 2015 15:57:38 GMT

This happened to my fiance.

She received a prequal letter in the mail. We're rebuilding her credit right now and she's an AU on 4 of my CC's.

Figured why not throw another card in the mix, could add myself as an AU and increase my available credit.

It was a snail mail prequal, she receives a surprising amount of these given her amounts of remaining CO's (waiting to age off this November, mostly), but we gave it a go and she was denied. Was pretty surprised given it was a snail mail prequal letter directly from them with the code and everything.