topic Re: Darn!!!! in Credit Card Applications

Darn!!!!

Anonymous — Sat, 28 Nov 2015 16:39:34 GMT

Stupid me.....Three months ago, my wife applied for Capital One Cards. She got QS1, 300$ SL, and Platinum 300$ starting line. 2 weeks before her third statements came out she hit the love button and got CLI of 500$ on both cards. Last night she checked Capital Ones pre qualify tool and nothing came up. She got brave and applied for The Venture, she got an instant approval for the 5000$ Signature and she was able to link it to her accounts right then an there! She has NO credit other than her two Cap One Cards that she has had for a few months...No baddies and low 600's for scores...So I decided to do the same thing and BAM, "declined".

I have two CO's and down to 7 collections (medical). I should have known better...I'm at 9 inquries in six months...I'm done and digging holes in the garden til next summer...I am really jealous she got it and I didnt....Do you think I will be able to ever get it??

Re: Darn!!!!

Anonymous — Sat, 28 Nov 2015 16:53:33 GMT

Just garden and let your stuff build history and you'll get there and get your Venture as well. It's easy to get caught up in the excitement of apping or following the lead of someone else's approval and not having the same success. Congrats to DW though. 5k cold apped I'm guessing they gave her the 22.9% APR which to be honest really doesn't matter because you should never carry a balance on a rewards card anyway. Keep an eye on the prequalify link after her first couple statements cut. I cold apped my first Venture and one day after the first statement cut I came up prequalified at a lower rate and a much bigger SL.

Re: Darn!!!!

Anonymous — Sat, 28 Nov 2015 16:53:41 GMT

Thanks TA!!!!

Re: Darn!!!!

Anonymous — Sat, 28 Nov 2015 16:56:57 GMT

22.9 it is...Did you say you got a second Venture a few days later? If so thats GREAT...

Re: Darn!!!!

Anonymous — Sat, 28 Nov 2015 18:12:05 GMT

Congrats for DW! Hang in there man.

Go into cap one chat (whoever has Platinum) and ask if it's eligible for upgrade to Rewards status. It will be changed to QS.

Re: Darn!!!!

Anonymous — Sat, 28 Nov 2015 18:29:16 GMT

Thanks "nevertoolate". Both my Platinum's were upgraded after 2 months.

Re: Darn!!!!

Anonymous — Sat, 28 Nov 2015 18:40:50 GMT

Congrats to your wife!

Re: Darn!!!!

Anonymous — Sat, 28 Nov 2015 19:46:59 GMT

It will happen for you, too!

Re: Darn!!!!

Anonymous — Sat, 28 Nov 2015 21:54:16 GMT

Thanks Music!

Re: Darn!!!!

NRB525 — Sun, 29 Nov 2015 01:42:38 GMT

@Anonymous wrote:

I am really jealous she got it and I didnt....Do you think I will be able to ever get it??

Yes, Capital One will still be there with a nice Venture approval after your file is improved some more. Keep working on getting the negatives corrected, and use the CapOne cards you have.

Re: Darn!!!!

Anonymous — Sun, 29 Nov 2015 03:49:51 GMT

you'll get yours too. over half of us were in the dumps at some time in our lives and most of us have awesome cards

don't take this the wrong way but i am quite surprised she got a venture that quick with only 2 previous cards with such low limits. cap 1 really amazes me sometimes but hey it's awesome! congrats

Re: Darn!!!!

Anonymous — Sun, 29 Nov 2015 05:01:03 GMT

I was just a shocked...I didn't even believe her until I look at the screan...they immediately linked it to her existing accounts..I am still peed off about it..not really but you know what I mean

Re: Darn!!!!

Anonymous — Sun, 29 Nov 2015 05:03:12 GMT

I got in the door with Chase with a decent starting limit and keeping it 10%..gonna have self control and weed the garden for 6-8 months.

Re: Darn!!!!

Anonymous — Sun, 29 Nov 2015 08:15:40 GMT

@Anonymous wrote:
Stupid me.....Three months ago, my wife applied for Capital One Cards. She got QS1, 300$ SL, and Platinum 300$ starting line. 2 weeks before her third statements came out she hit the love button and got CLI of 500$ on both cards. Last night she checked Capital Ones pre qualify tool and nothing came up. She got brave and applied for The Venture, she got an instant approval for the 5000$ Signature and she was able to link it to her accounts right then an there! She has NO credit other than her two Cap One Cards that she has had for a few months...No baddies and low 600's for scores...So I decided to do the same thing and BAM, "declined".

I have two CO's and down to 7 collections (medical). I should have known better...I'm at 9 inquries in six months...I'm done and digging holes in the garden til next summer...I am really jealous she got it and I didnt....Do you think I will be able to ever get it??

I hope you aren't too discouraged, my friend. Most of us can relate to the feeling, and your logic and reaction after your wife's approval seems quite reasonable to me.

When you say 9 inquiries in 6 months, is that 9 inquiries on a certain bureau, or total? For instance, if it was total and you only had 2 on TU, Barclaycard might be attainable if you really wished for something right now. When they approved me, my TU was likely about the same as yours(myfico was very slow updating it, so who's to say for sure), although they told me they don't use any scoring model, and look at the overall report. Anyhow, I don't want to influence you into something you didn't mention, but wanted to throw that out there just in case.

Congrats to your wife, the Venture is most likely the next card I will apply for, and this post is making it hard for me to remain patient!

Did you get the letter yet that mentions the reasons for the denial? I'm just curious if it was the generic credit report imperfections, or if they may have said insufficient experience at your current level of credit, or something more along those lines? Either way, as others have said, you most likely will be able to get the Venture at some point, provided you don't find other cards to go after instead. You seem to have a good attitude, and I hope I don't miss that thread when it pops up! (seriously, there are times when I wish I could pre-subscribe to certain threads!). Best of wishes!

Re: Darn!!!!

Anonymous — Sun, 29 Nov 2015 12:13:00 GMT

Hey CaptainJ..thank you..the denial never mentions anything about experience with current level of credit. Basically same old song and dance..collects, serious deliq...bla bla bla. I know what you mean about patience..she cold app'd it...I have 9 inquries showing on experian, 6 and 5 on the other two...I will just let the Chase Freedom and the two Quicksilvers report until next summer and see what happens.

Re: Darn!!!!

Anonymous — Sun, 29 Nov 2015 16:52:40 GMT

@Anonymous wrote:
Hey CaptainJ..thank you..the denial never mentions anything about experience with current level of credit. Basically same old song and dance..collects, serious deliq...bla bla bla. I know what you mean about patience..she cold app'd it...I have 9 inquries showing on experian, 6 and 5 on the other two...I will just let the Chase Freedom and the two Quicksilvers report until next summer and see what happens.

Concerning the medical collections google the HIPPA Letter process by Why Chat. Follow the process exactly as it is laid out if you have problems finding it or you have any questions PM me.

Re: Darn!!!!

Anonymous — Sun, 29 Nov 2015 20:12:56 GMT

Thanks tel12! So far I have had 4 deleted. If they come back I am going that route.

Re: Darn!!!!

Anonymous — Sun, 29 Nov 2015 20:22:16 GMT

I was able to get my old cap 1 platinum pc to a venture one. I wasn't really interested in getting another qs.

Re: Darn!!!!

Anonymous — Mon, 30 Nov 2015 04:15:44 GMT

You got in with a great SL on that Freedom and you're building a relationship and history with Chase as well. It's almost a good thing you didn't get the Venture approval. It probably would have been a 5k 22.9% approval. It also would have made you hit the 5 in 24 months rule if those cards in your signature are all within the past 24 months which means you couldn't app for a CSP assuming you might want that to pair with the Freedom. I'd lay low garden and work on those remaining CA's. Medical CA's often can be among the easier ones to rid yourself of either through PFD's or other methods. If those are your only negatives you'll see a nice jump in your scores and maybe a CSP prequalify will turn up and you'll see a 17.9 or better Cap1 prequalify for Venture will show and you'll get a much much nicer SL than 5k.