topic Re: Capital One Pre-Qual YES Actual Qual NO!?! in Credit Card Applications

Capital One Pre-Qual YES Actual Qual NO!?!

FICOrising — Wed, 16 Dec 2015 18:34:12 GMT

I went to Capital One's web site and filled out their Pre-Qualification form. It came back and showed I was "pre-qualified" for Venture with a 17.9% variable APR, Venture One with 0% APR until December 2016, and Quicksilver with 0% APR until September 2016 with EQ 650 TU 675 EX 669.

After reading a lot of posts on this MyFICO forum I read that since Capital One pulls all three reports, that a lot of people apply for each card back to back within minutes to take one set of hard pulls instead of multiple pull. I decided to give that a shot.

Venture and Venture One both returned with a message saying "We attempt to provide an application decision in 60 seconds or less. On occasion, system availablity affect out aboloty to make a credit decision or, in some cases, we need to collect additional information. Unfortunately, we need more time to look into this for you. Keep an eye out for additional details regarding your appliction via e-mail or mail withing 7-10 business days. Until we contact you, please do not submit another application."

Quicksilver's message was "Unfortunately, we weren't able to approve you for this card."

1. Is an online pre-qualification followed by rejection a few minutes later normal?

2. How many points will Capital One's hard pull(s) drop my scores?

On a side note, I applied for a Discover Card a few minutes after leaving the Capital One site frustrated and was approved for a card with a $12,000 limit!

UPDATE - December 16, 2015: Thanks for all the great comments. I found out some more information so I wanted to give an update for anybody else in the same situation. I finally got my what I thought was going to be a Capitol One rejection letter in the mail, but you guys that mentioned them just needing to have a few questions answered were right. Turns out they had an issue with my address that they needed to confirm.

After confirmation, I found out that I got both Venture One with a $10,000 limit and Venture with a $15,000 limit!

In terms of the hit to my scores, my Experian went from 669 to 670!

Thanks again for all the insight!

Re: Capital One Pre-Qual YES Actual Qual NO!?!

Anonymous — Thu, 03 Dec 2015 11:46:41 GMT

@FICOrising wrote:
I went to Capital One's web site and filled out their Pre-Qualification form. It came back and showed I was "pre-qualified" for Venture with a 17.9% variable APR, Venture One with 0% APR until December 2016, and Quicksilver with 0% APR until September 2016 with EQ 650 TU 675 EX 669.

After reading a lot of posts on this MyFICO forum I read that since Capital One pulls all three reports, that a lot of people apply for each card back to back within minutes to take one set of hard pulls instead of multiple pull. I decided to give that a shot.

Venture and Venture One both returned with a message saying "We attempt to provide an application decision in 60 seconds or less. On occasion, system availablity affect out aboloty to make a credit decision or, in some cases, we need to collect additional information. Unfortunately, we need more time to look into this for you. Keep an eye out for additional details regarding your appliction via e-mail or mail withing 7-10 business days. Until we contact you, please do not submit another application."

Quicksilver's message was "Unfortunately, we weren't able to approve you for this card."

1. Is an online pre-qualification followed by rejection a few minutes later normal?
2. How many points will Capital One's hard pull(s) drop my scores?

On a side note, I applied for a Discover Card a few minutes after leaving the Capital One site frustrated and was approved for a card with a $12,000 limit!

1. On the Venture and Venture One, they will probably require some kind of verification, whether it is income or identity. Probably since you submitted them all at once, they maybe questioning your identity to make sure it was you applying. Don't know why they rejected you for he Quicksilver. Might be something related to how much applications they accept on their products at the same time.

2. No one can predict how many points you will lose. Alot will depend on the your profile and whatever loss will probably rebound when your Discover Card reports since your UTI will improve. By the way, Congratulations on that approval.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

Anonymous — Thu, 03 Dec 2015 11:51:16 GMT

I believe the QS was rejected because you applied for Venture and Venture One which makes two apps and it I am certain they only allow to app two with in 30 days. I could be wrong but as for the Two Venture sounds like verification so they might email or call.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

Rebuilding69 — Thu, 03 Dec 2015 11:59:30 GMT

Yeah. They did the same to me pretty much, however they were nice enough to give me the QS. I apped for the QS then the Venture a couple minutes later, after it showed I was pre-qual'd for both. They gave me a double triple pull & gave me the QS & denied the Venture. I won't be apping for the Venture card again. Not going to do this triple pull nonsense anymore with them. I'll probably combine my Plat MC & QS1 in the future when they equal 5k+, then PC to a Venture type card if that's possible.

Think I'll just stick with NFCU from ehre on out. They have no problem extending credit to me, but Cap1 seems stingy to me lol.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

Anonymous — Thu, 03 Dec 2015 12:36:41 GMT

As far as applying for multiple cards simutaneously on CapOne, my successful experience was to apply for one card from pre-qual site. After approval, I set that card up and only then applied for the second card from pre-qual, and was approved. I've never heard of applying for both simultaneously so hope it works out for you. GL!

Edit: Congrats on your Discover approval!!

Re: Capital One Pre-Qual YES Actual Qual NO!?!

Anonymous — Thu, 03 Dec 2015 13:47:09 GMT

Capital Ones prequal site is pure garbage, just FYI. A lot of folks have put in fake names and SSN and been "pre qualified".

But as the other posters said, I don't think this is the end of the road. People have qualified for Cap One with much worse scores. You'll be fine.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

Anonymous — Thu, 03 Dec 2015 14:31:16 GMT

^ why do you keep saying it's pure garbage? it's irritating lol. garbage ones are discover, BofA, barclay... those are nonsense. but cap1 is pretty accurate. quit going around spreading your nonsense thinking and do some research.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

Anonymous — Thu, 03 Dec 2015 15:22:26 GMT

Whoa there.

I recall at one time there were some truly bogus results coming out of the prequal. If it's changed, I stand corrected... Thanks for the information. :-)

Re: Capital One Pre-Qual YES Actual Qual NO!?!

someg33k — Thu, 03 Dec 2015 15:39:22 GMT

Yep Cap1 prequal is typically rock solid. Unlike nonsense at sites like BOA and Discover.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

dstew201 — Thu, 03 Dec 2015 16:32:55 GMT

I heard Discover prequal is pretty accurate..... On the prequal page if you get the garnet colored card (congrats) then it's a go; if it's the blue (we recommend) then no go!

??????????????

Re: Capital One Pre-Qual YES Actual Qual NO!?!

Anonymous — Thu, 03 Dec 2015 16:42:07 GMT

idk about the color differences but everyone prequals for discover. you can make up any looney toon name in the world and make up 4 digits for social and it gets a prequal.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

someg33k — Thu, 03 Dec 2015 16:53:56 GMT

@dstew201 wrote:
I heard Discover prequal is pretty accurate..... On the prequal page if you get the garnet colored card (congrats) then it's a go; if it's the blue (we recommend) then no go!

??????????????

Depends on the "prequalify" message you get. I can for example go to their prequalify site and input Donald Duck and it will come back with a "heres the card we have for you...."

Re: Capital One Pre-Qual YES Actual Qual NO!?!

bk510 — Fri, 04 Dec 2015 00:47:36 GMT

@Anonymous wrote:
As far as applying for multiple cards simutaneously on CapOne, my successful experience was to apply for one card from pre-qual site. After approval, I set that card up and only then applied for the second card from pre-qual, and was approved. I've never heard of applying for both simultaneously so hope it works out for you. GL!

Edit: Congrats on your Discover approval!!

I double dipped on V & QS back on August and it was approved for both 10K & 3K.....with only 1 pull each.( This was after I did the pre-Q, which gave me 17.9% blah blah)

Then the following month, did another pre-Q and this time V1 & QS poped up and Venture being 16.9%, naturally I pulled the trigger on both and was approve with only again

1 pull each.....V1 at 5K & 3K for QS.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

bk510 — Fri, 04 Dec 2015 00:51:19 GMT

@Anonymous wrote:
Capital Ones prequal site is pure garbage, just FYI. A lot of folks have put in fake names and SSN and been "pre qualified".

But as the other posters said, I don't think this is the end of the road. People have qualified for Cap One with much worse scores. You'll be fine.

I have heard nothng but a good things about Cap1's pre-Q and how solid they are.....And I am the living proof because it worked for me as well as many other people on this

forum.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

bk510 — Fri, 04 Dec 2015 00:51:44 GMT

@Anonymous wrote:
^ why do you keep saying it's pure garbage? it's irritating lol. garbage ones are discover, BofA, barclay... those are nonsense. but cap1 is pretty accurate. quit going around spreading your nonsense thinking and do some research.

+1000,

Re: Capital One Pre-Qual YES Actual Qual NO!?!

darwin_wins — Fri, 04 Dec 2015 00:52:08 GMT

@Anonymous wrote:
Capital Ones prequal site is pure garbage, just FYI. A lot of folks have put in fake names and SSN and been "pre qualified".

But as the other posters said, I don't think this is the end of the road. People have qualified for Cap One with much worse scores. You'll be fine.

I don't think its garbage. When I first applied for their card it came back saying you are pre-qualified ..... and now that credit profile has changed with a card that has 99% balance ( I am just an AU on that card) I get nothing.

When that 99% debt is reduced by 60%-70% my scores will go up and I am sure I will see more offers from them.

Re: Capital One Pre-Qual YES Actual Qual NO!?!

bk510 — Fri, 04 Dec 2015 00:54:54 GMT

@Anonymous wrote:
^ why do you keep saying it's pure garbage? it's irritating lol. garbage ones are discover, BofA, barclay... those are nonsense. but cap1 is pretty accurate. quit going around spreading your nonsense thinking and do some research.

Hey hey......take it easy now, I have those,

Havent had a AA yet.......but who knows, lol

Re: Capital One Pre-Qual YES Actual Qual NO!?!

Anonymous — Fri, 04 Dec 2015 01:35:49 GMT

no i meant the prequal on those are garbage not the cards lol. i have discover and barclay too

Re: Capital One Pre-Qual YES Actual Qual NO!?!

FICOrising — Wed, 16 Dec 2015 18:31:56 GMT

Thanks for all the great comments. I found out some more information so I wanted to give an update for anybody else in the same situation. I finally got my what I thought was going to be a Capitol One rejection letter in the mail, but you guys that mentioned them just needing to have a few questions answered were right. Turns out they had an issue with my address that they needed to confirm.

After confirmation, I found out that I got both Venture One with a $10,000 limit and Venture with a $15,000 limit!

In terms of the hit to my scores, my Experian went from 669 to 670!

Thanks again for all the insight!

Re: Capital One Pre-Qual YES Actual Qual NO!?!

OmarGB9 — Wed, 16 Dec 2015 18:46:40 GMT

Grats