topic Re: Cap 1 App -- approval based on previous soft pull data or current credit profile? in Credit Card Applications

Cap 1 App -- approval based on previous soft pull data or current credit profile?

Shann0n_marie — Wed, 05 Aug 2015 22:25:55 GMT

If you have a preapproval through the website on Cap 1, and decide to move fwd with an app, is it based on your CURRENT credit profile? I was AR'ed with Cap 1 back in July but have had a TON of updates to my credit and score increases all across the board form paying off all old delinquent debt from 2011. I am trying to figure out if I should wait to apply for a 2nd Cap 1 card because I don't want it to be based on my old credit data as opposed to my new and improved.

Thanks!

Re: Cap 1 App -- approval based on previous soft pull data or current credit profile?

CreditCuriosity — Wed, 05 Aug 2015 22:32:48 GMT

Honestly that is a good question... They will deffinetly double or triple pull you, but will they use what is on your current credit reports or the last AR they did on you... I know SP CLI's can be based on 3 month old SP's and if I was to GUESS it would be using a new HP/HP's, but guessing is never a good thing, especially with the likes of Cap1/Amex(3x CLI uses last sp)

Re: Cap 1 App -- approval based on previous soft pull data or current credit profile?

Shann0n_marie — Thu, 06 Aug 2015 02:08:22 GMT

@CreditCuriousity wrote:
Honestly that is a good question... They will deffinetly double or triple pull you, but will they use what is on your current credit reports or the last AR they did on you... I know SP CLI's can be based on 3 month old SP's and if I was to GUESS it would be using a new HP/HP's, but guessing is never a good thing, especially with the likes of Cap1/Amex(3x CLI uses last sp)

Yeah... that's what I'm wondering! Can anyone else offer insight on this?

Re: Cap 1 App -- approval based on previous soft pull data or current credit profile?

Anonymous — Thu, 06 Aug 2015 03:07:21 GMT

typically if you do an app that's based on a hard pull and they're current. they pull what's reporting RIGHT NOW, not their previous soft pull. but if you ask for a CLI then they'll use their most recent soft pull. anytime you do something that results in a hard pull it should be an up-to-date hard pull.

Re: Cap 1 App -- approval based on previous soft pull data or current credit profile?

OmarGB9 — Thu, 06 Aug 2015 05:58:55 GMT

I'm pretty sure they HP triple pull you in order to get the recent up to date, real time report. Prequal is based on most recent sp, yes, but naturally if you respond to their offer, they pull a report.

Re: Cap 1 App -- approval based on previous soft pull data or current credit profile?

Anonymous — Thu, 06 Aug 2015 06:28:49 GMT

^ yep!

Re: Cap 1 App -- approval based on previous soft pull data or current credit profile?

taxi818 — Thu, 06 Aug 2015 10:16:00 GMT

Very good question. im gonna say if apping they will use hp. But i do know when you go to pre qual site. They also do Sp each time on your Equifax. I thought it was Transunion. but when i looked at my Eq from me looking for pre qual on Cap one. i saw a zillion Sps from them. all based on my looking for pre qual. so i guess The old report they use is just for cli's. in any case im wondering what the pre qual site is based off of. as i keep getting the damn Qs1 to come up. no way are my scores Qs1 territory. they even mention the Credit steps program. Yikes!!! never really sure if should base app off of pre qual anyway or is it possible to just cold app and get it over with. was waiting on BOA but their site is totally unreliable. good luck op. Whatever you decide to do.

Re: Cap 1 App -- approval based on previous soft pull data or current credit profile?

OmarGB9 — Thu, 06 Aug 2015 17:57:06 GMT

I too saw a bunch of sp from cap1 when I pulled my EQ lol. Always checking for prequels! And oddly enough I've yet to see any mention of credit steps anywhere outside this forum lol. Had I not found myFICO, I never would've known about that program ha.