topic Re: Venture Card in Credit Cards

Venture Card

Anonymous — Tue, 24 Mar 2015 12:45:24 GMT

After reading about all the success i though i would try for a venture card but was denied and denied through recon. I am stumped at Capital One aprroving all these cards to people with lower credit scores then mine. My current scores are Eq 751 TU 780 and Exp 762. i do have alot of inq but can someone shed some light on what i am doing worng LOL

Re: Venture Card

Anonymous — Tue, 24 Mar 2015 12:54:23 GMT

I'd start with whatever reason(s) they gave you for the denial. If it was too many inquiries then you just need to let your accounts and inquiries age.

Re: Venture Card

Anonymous — Tue, 24 Mar 2015 12:57:43 GMT

they gave 3 reasons first was not enought accts with untilization, second was to many new accts, thrid was not enought income..LOL talk about throwing darts at the excuse boards

Re: Venture Card

Strogen — Tue, 24 Mar 2015 14:18:28 GMT

Not enough income nailed you, I have had a cap one card since 2010 so that may have helped me but it seems they are acting like chase.

They ignored the 25 inqs on my TU and the multitude of new accounts and instantly approved me for $15K with scores hovering around 700-715.

I put 90K for my income , though it seems 35-40K would probably have been enough to get a 5K card.

Not sure what you put down for income but you cant just say "well I have a 760 and I will always qualify" there are other factors at play that weigh importantly.

Re: Venture Card

Anonymous — Tue, 24 Mar 2015 14:56:45 GMT

I have no idea how they would have denied you with a 750+ score....something in the rest of your profile musta spooked them to get a denial even on recon.

I also have a ton of inquiries but I gardened about 6 months prior to applying.

Re: Venture Card

happypill — Tue, 24 Mar 2015 15:43:48 GMT

@Anonymous wrote:
they gave 3 reasons first was not enought accts with untilization, second was to many new accts, thrid was not enought income..LOL talk about throwing darts at the excuse boards

So I guess the question is, are any of those things true? You didn't really provide any information other than your scores.

1. Are all your accounts paid down to zero util? If so, your credit profile would look better if at least one were reporting some usage.

2. How many new accounts do you actually have? How many new in last 6 months, 12 months? Cap One is not known to be spooked by this, but depends on how many.

3. What is your income? You've got quite a few cards with substantial limits already, which is awesome. If you're reporting $40k income and have $100k in open credit lines, many lenders may decline to offer more.

Re: Venture Card

Anonymous — Tue, 24 Mar 2015 15:50:41 GMT

When you applied did you have an account with a $5k or higher cl? I think that was one of their listed items in their criteria for "excellent" credit.

I am a little confused on the low income though because I am a college student and listed my $22k income and was instantly approved with a 10k line for the venture card before all the craze of apps started for the card. But, I have also had a different card from them for the past 5 or so years as well.

Re: Venture Card

Strogen — Tue, 24 Mar 2015 15:53:56 GMT

@Anonymous wrote:
I have no idea how they would have denied you with a 750+ score....something in the rest of your profile musta spooked them to get a denial even on recon.

I also have a ton of inquiries but I gardened about 6 months prior to applying.

He literally just said they told him his income was too low.

That will disqualify you before anything else usually.

If you put something down like 20K dont expect a card, though you may still qualify.

Re: Venture Card

Strogen — Tue, 24 Mar 2015 15:55:59 GMT

@Anonymous wrote:
When you applied did you have an account with a $5k or higher cl? I think that was one of their listed items in their criteria for "excellent" credit.

I am a little confused on the low income though because I am a college student and listed my $22k income and was instantly approved with a 10k line for the venture card before all the craze of apps started for the card. But, I have also had a different card from them for the past 5 or so years as well.

Seems to me that having 100% positive history with cap one is certainly helping.

In the last year they have given me 22K of credit, up from a single cash rewards card with a 2.5k limit.

It took 4 years for that to happen though... haha

Re: Venture Card

Anonymous — Tue, 24 Mar 2015 20:44:19 GMT

Well my Util is about 2% Income is sufficient to support my current cards. yeah ihave alot of new accts in the last 4 months. Cap One like discover like alot of spending on their cards. I guess i will just garden for a year.

Re: Venture Card

pizza1 — Tue, 24 Mar 2015 23:54:32 GMT

Strange.. Credit and Cap one is strange.

6 months ago Im posting hate threads about them, then last month they throw me a Venture for $10K, and a QS Visa sigggy for $10k, all with a 2 public records (bk and paid tax lien), 22 IIb accounts showing, and mid 600 scores.

I also had their QS1 MC for over a yr in good standing, util was 1%, and a long thick file.
Applied 30 days later...Got my 2nd Venture for $15k ( matched my navy limit if 14k), and another QS Visa for $5k.

Sorry for the denial Try again in 6 months or a yr, it'll be another dbl or triple pull though, but i do understand your frustration on people like me getting cards, when your file looks better. But theres something that my creditors like about me and my file or I wouldnt be getting the approvals, or CLI.

Re: Venture Card

LX25 — Wed, 15 Apr 2015 00:00:02 GMT

Hello pizza1 when was your bankruptcy filed 2015 or is it a few years old. the approval responses with Indivdiuals with the low 600's for the Venture card sounds promising.

Re: Venture Card

gdale6 — Wed, 15 Apr 2015 01:03:28 GMT

@LX25 wrote:
Hello @pizza1 when was your bankruptcy filed 2015 or is it a few years old. the approval responses with Indivdiuals with the low 600's for the Venture card sounds promising.

Pizzas Bk was discharged in 2013 per her siggy (BK7 d/c:08/19/13~FICO-400's)-

Re: Venture Card

Anonymous — Wed, 15 Apr 2015 03:45:30 GMT

Just for my own curiosity's sake because I am still learning about card issuers' rules. You have a lot of credit cards so why are you applying for another one. Fair to tell me: MYOB (thnk you ann landners) no hard feelings

Re: Venture Card

Anonymous — Wed, 15 Apr 2015 03:56:55 GMT

@Anonymous wrote:
Just for my own curiosity's sake because I am still learning about card issuers' rules. You have a lot of credit cards so why are you applying for another one. Fair to tell me: MYOB (thnk you ann landners) no hard feelings

Really a limit on the number of cards you should have is a matter of preference or necessity. Some people are too irresponsible and should not have more than 1 or 2 credit cards because they see it as "free money" or something. If you are responsible and understand the system then you can safely have half a dozen or more cards easily (if you are able to keep up with the bonuses, due dates, spending, etc). You just have to understand how everything affects your credit and how that will impact your financial future (loans, mortgage, etc). There are several people on this forum that have 30+ cards and can manage to keep up with it all. In the end I wouldn't advise that. Just remember not to buy anything you can't afford and ALWAYS make all payments on time.

Re: Venture Card

Boragard — Wed, 15 Apr 2015 06:57:48 GMT

aww sorry to hear Try again in 3 months.