topic Re: FICO Models Pulled by Capital One in Credit Card Applications

FICO Models Pulled by Capital One

Anonymous — Sun, 04 Oct 2015 16:30:33 GMT

I know this has been addressed in a previous posting, but I have not been able to find it. What FICO Models does Cap 1 use for authorizing credit cards. The website says I'm preapproved for the Platinum and the QS1, but I'm concerned about my EX FICO 3 score since it is the lowest at 607; however, my FICO 5 score is 690 and the scores listed in my signature are my FICO 8 scores. Thanks in advance for replying.

Re: FICO Models Pulled by Capital One

Anonymous — Tue, 06 Oct 2015 03:36:49 GMT

They provide TransRisk New Account Score, and use FICO® Score 5 for decisions.

Re: FICO Models Pulled by Capital One

CreditCuriosity — Tue, 06 Oct 2015 03:11:10 GMT

It is widely thought they use Fico 04 Scoring model is the general consensus for approvals

Re: FICO Models Pulled by Capital One

Anonymous — Tue, 06 Oct 2015 18:18:09 GMT

@Anonymous wrote:
They provide TransRisk New Account Score, and use FICO® Score 5 for decisions.

Thanks for the information. Fico 5 is my best score. How do you find out what your TransRisk New Account Score is? That is something I haven't heard of.

Re: FICO Models Pulled by Capital One

Anonymous — Tue, 06 Oct 2015 18:21:36 GMT

@CreditCuriousity wrote:
It is widely thought they use Fico 04 Scoring model is the general consensus for approvals

Thanks for responding CC. MY Fico Bankcard Score is 642, while my Fico 4 Mortgage Score is 691. Hopefully that's is acceptable for a QS1.

Re: FICO Models Pulled by Capital One

CreditCuriosity — Tue, 06 Oct 2015 18:29:34 GMT

@Anonymous wrote:
@CreditCuriousity wrote:
It is widely thought they use Fico 04 Scoring model is the general consensus for approvals
Thanks for responding CC. MY Fico Bankcard Score is 642, while my Fico 4 Mortgage Score is 691. Hopefully that's is acceptable for a QS1.

Have you tried the pre-qual link.. You might be beyond the QS1 and into QS territory meaning no AF and a higher tier card w/regards to UW.. Does the pre-qual show anything? Might want to check that first as their pre-qual site is pretty rock solid.

Re: FICO Models Pulled by Capital One

Anonymous — Tue, 06 Oct 2015 18:38:41 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
@CreditCuriousity wrote:
It is widely thought they use Fico 04 Scoring model is the general consensus for approvals
Thanks for responding CC. MY Fico Bankcard Score is 642, while my Fico 4 Mortgage Score is 691. Hopefully that's is acceptable for a QS1.
Have you tried the pre-qual link.. You might be beyond the QS1 and into QS territory meaning no AF and a higher tier card w/regards to UW.. Does the pre-qual show anything? Might want to check that first as their pre-qual site is pretty rock solid.

Keeps giving me the QS1. I have some lates from almost 4 years ago and 1 collection showing. Would love the QS or Venture 1, but my FICO 3 is 607. Discover, Lowes, Macy, and Amex all pulled EX and my score just doesn't seem to want to recover and it maybe the lates and collection holding it back. Collection won't fall off til June of next year.

Re: FICO Models Pulled by Capital One

Anonymous — Tue, 06 Oct 2015 19:21:52 GMT

For the Venture and VentureOne's your Fico 04 scores are what will get it for you. So for EQ look at Score 5, EX look at Score 2 and for TU look at Score 4. Post up what they are. I had nothing but QS1 and Platinum showing I'm assuming based off my Fico 08's which were 620 to 645 but my Fico o4's were 667 to 702 and went ahead and cold apped for the Venture and QS. Approved on the Venture for 5K and denied on the QS. I'm thinking on the QS they use the Fico 08 score and that was the reason for the denial. One day after my first Venture statement cut the the pre quals for Venture, VentureOne and QS appeared and with lower APR's. Went for it again and was approved for a 2nd Venture @ 15K and a VentureOne at 7.5K. Was hesitant to try again on the QS at the time since my score were about 20 points higher on the 08's but my gut told me even if I got approved on the Qs it would have been much lower SL than the V1 ended up being. Of course it figures a couple days later all three of my scores shot up almost 40 points so if I'd waited I probably would have gotten higher SL's, lower APR's and might have gone for the QS. Oh well. at the time I apped both times still have a 6 year old auto CO showing and a 6 1/2 year old unpaid judgement with of all lenders Cap1.

Re: FICO Models Pulled by Capital One

Anonymous — Tue, 06 Oct 2015 19:38:35 GMT

@Anonymous wrote:
@For the Venture and VentureOne's your Fico 04 scores are what will get it for you. So for EQ look at Score 5, EX look at Score 2 and for TU look at Score 4. Post up what they are. I had nothing but QS1 and Platinum showing I'm assuming based off my Fico 08's which were 620 to 645 but my Fico o4's were 667 to 702 and went ahead and cold apped for the Venture and QS. Approved on the Venture for 5K and denied on the QS. I'm thinking on the QS they use the Fico 08 score and that was the reason for the denial. One day after my first Venture statement cut the the pre quals for Venture, VentureOne and QS appeared and with lower APR's. Went for it again and was approved for a 2nd Venture @ 15K and a VentureOne at 7.5K. Was hesitant to try again on the QS at the time since my score were about 20 points higher on the 08's but my gut told me even if I got approved on the Qs it would have been much lower SL than the V1 ended up being. Of course it figures a couple days later all three of my scores shot up almost 40 points so if I'd waited I probably would have gotten higher SL's, lower APR's and might have gone for the QS. Oh well. at the time I apped both times still have a 6 year old auto CO showing and a 6 1/2 year old unpaid judgement with of all lenders Cap1.

Congrats on your approvals. Below are my scores as of 10/1/2015

FICO 4 Bankcard Score is 642; FICO 4 Mortgage Score is 691

FICO 2 Bankcard Score is 646; FICO 2 Mortgage Score is 666

FICO 5 Bankcard Score is 690; FICO 5 Mortgage Score is 671

Utilization is now at 11%. Will have it under 10% by November.

Re: FICO Models Pulled by Capital One

CreditCuriosity — Tue, 06 Oct 2015 19:52:42 GMT

This is a tough one.. Honestly your utilization is under control and your 04/05 scores are within the range of their prime cards... What is your AAoA? How old is your oldest CC? I would tend to lean towards applying for the Venture or Venture One and if approved for that then go for the regular QS and use a single set of the famous Cap1 Triple pulls.. A bit more info will help, but it is always going to be a gamble whenever it comes to applying for a CC to some extent. Also how many inquires do you currently have on EQ/TU/EX? I have alot of old CO's and old lates and got approved for 20k/10k for venture/qs respectively, granted I have some other big CL's along with a pretty thick credit file and a relatively high income despite the baddies..

Once you get back with those questions I will respond in a bit and sure other people will let their opinions known as well as I don't want you to take a triple pull for a denial although it can happen to someone with a 800 Fico as well.. How long have you had the Cap1 secured card for?

Re: FICO Models Pulled by Capital One

Anonymous — Tue, 06 Oct 2015 20:05:46 GMT

@CreditCuriousity wrote:
This is a tough one.. Honestly your utilization is under control and your 04/05 scores are within the range of their prime cards... What is your AAoA? How old is your oldest CC? I would tend to lean towards applying for the Venture or Venture One and if approved for that then go for the regular QS and use a single set of the famous Cap1 Triple pulls.. A bit more info will help, but it is always going to be a gamble whenever it comes to applying for a CC to some extent. Also how many inquires do you currently have on EQ/TU/EX? I have alot of old CO's and old lates and got approved for 20k/10k for venture/qs respectively, granted I have some other big CL's along with a pretty thick credit file and a relatively high income despite the baddies..

Once you get back with those questions I will respond in a bit and sure other people will let their opinions known as well as I don't want you to take a triple pull for a denial although it can happen to someone with a 800 Fico as well.. How long have you had the Cap1 secured card for?

AAoA is 1.7. Oldest CC is 22 months. INQ are: EQ-13; TU-11; EX-13. When I had credit problems back in 08-09, I got most things paid off, except 3 cards went to collection. They were paid off, but the last one doesn't fall off until June 2016. I only started rebuilding this year. Everything was paid for in cash, but because I got a terrible auto loan rate, I decided that I needed to do something, which meant getting back into the credit world. Got my first card December 2013, Next one D ecembe 2014, then this year, the rest of the cards. I don't expect to high SLs as my income is $45k. My partner's income is $75K, but his credit is separate from mine. Got the secured Cap 1 in January. Took 6 hard pulls for it because they requested proof of income and I didn't get it sent in on time, so I had to reapply. That's why I don't want to do another 3 without making sure that it is a good choice. The Discover I got in May. Half of the INQs will fall off between Nov-Jan.

Re: FICO Models Pulled by Capital One

CreditCuriosity — Tue, 06 Oct 2015 20:24:40 GMT

Hmmm.. It honestly could go either way. That sucks you took 6 pulls for the Secured Cap1!!! Your income is fine. If it was me I would wait until December-ish probably for some of the inquires to fall off and to get a bit more age on the Cap1 secured along with Discover and keep checking the Cap1 Pre-Qual site and hoping for the Venture/QS vs QS1 to show up.. Would hate for you to waste 3 inquires on a denial along with you being on the borderline of their better cards being Venture/QS vs. QS1... If you can hold out, I would if I were you and give it a bit more time and hopefully the pre-quals change. Just my 2 cents. You certainly are improving your profile, times does the rest!

Re: FICO Models Pulled by Capital One

Anonymous — Tue, 06 Oct 2015 20:27:42 GMT

@CreditCuriousity wrote:
Hmmm.. It honestly could go either way. That sucks you took 6 pulls for the Secured Cap1!!! Your income is fine. If it was me I would wait until December-ish probably for some of the inquires to fall off and to get a bit more age on the Cap1 secured along with Discover and keep checking the Cap1 Pre-Qual site and hoping for the Venture/QS vs QS1 to show up.. Would hate for you to waste 3 inquires on a denial along with you being on the borderline of their better cards being Venture/QS vs. QS1... If you can hold out, I would if I were you and give it a bit more time and hopefully the pre-quals change. Just my 2 cents. You certainly are improving your profile, times does the rest!

Your probably right to wait. I haven't applied for anything since June, so a couple of months won't hurt. Thanks for the information and advice. It is greatly appreciated.