topic Re: Venture One Score recommended ?? in Credit Cards

Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 19:40:32 GMT

Hi all! I have been on a rebuilding mission for almost a year now, and have watched my scores go from 490 across the board to (AS OF TODAY - FICOs): TU 598 EX 601 EQ 587. Not amazing I know, but once the UTIL paydowns report by 9/10 or so, I am expecting a considerable boost across the big 3.. Lowered my UTIL from 61% to 40% overall. Also, a collection has been removed - just got notice today, so that should assist too. I REALLLLLY want the VentureOne from Capital One for travel rewards, as I plan on travleing a lot next year to my hometown for parties, graduations, weddings etc. Here is my current lineup:

Capital One QS1: $1,000 CL

Barclay Apple Visa: $3,000 CL

Western FCU VISA: $3,000 CL *** CLI yesterday from $1,000 - CLI will report in 2 weeks

Credit One: $600 CL

FingerHut: $250 CL (LoL - $0 balance only keeping for UTIL)

CareCredit: $3,000 CL

I wont even think of applying ofr VentureOne until my scores are well over 600 -- but any idea what a good score to apply with is? On CK I see a recommended minimum of 632, but want to see other's actual experiences with this card. The minimum CL is $5000 so that would end up being my highest limit. Let me know what you think or have experienced ! Thank you all !!

Re: Venture One Score recommended ??

Skye12329 — Tue, 01 Sep 2015 19:49:53 GMT

660s+ roughly. I am thinking your scores might be a tad low at this time.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 19:54:15 GMT

I know they're too low now as I stated in my post. But I'm trying to gauge a good score to apply with. I'm expecting a decent boost once the collection is off and my UTIL reports lower in a week, but not that big just yet. I think I'll wait until just before Christmas .. By then I'm sure I'll be mid 600s which should help me get a good SL

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 19:59:40 GMT

680 at least on Equifax.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 20:03:51 GMT

My Venture1 was approved with scores a little bit lower in my signature line BUT I already had an 18 month old Plat MC ($4K) and a 6 week old QS1 ($3k) when I applied. I was PIF'ing 90% of the time and using it heavily with multiple payments per month because my CL wasn't high enough. I only app'd for a higher CL and to have a Visa. I will be PC'ing it into a QS as soon as I get a chance, the 1.25% back is less than QS so now that my bonus has posted, I don't use it much, I'm using the QS's with the lower limit.

It can be done with lower scores but I'm probably more of an exception than the rule.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 20:08:56 GMT

I should mention that I have 2 - 3 month old QS1 with limits at $1500 each as of literally just now lol (I combined two CL in my first post as they a re both QS). Just looked online and boom. Also EO gave me a $200 credit because of the time it took to process my CLi !? Not going to argue. So in a few weeks my overall UTIL will
Be reporting WAY LOWER with the 3 CLIs!!! Side note.

Congrats on your approval. And to the guy who says 680 on EQ.. I'm told that's the score for VENTURE not Ventre One which requires lower.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 20:12:05 GMT

Venture One also has the possibility of lower limits. I still would hold until at least 680 on Equifax with the other two being not much lower than 650.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 20:15:31 GMT

Thank you kindly !! I will see how long I can hold out lol

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 20:22:52 GMT

I would also suggest working to get your utilization (both overall and individual) down to 20% or even lower if possible for best results and score improvement.

Having as many cards as possible with zero balances (keep a balance on at least one) will also give your score a bit of a boost.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 20:25:59 GMT

Thank you

Re: Venture One Score recommended ??

OmarGB9 — Tue, 01 Sep 2015 21:33:25 GMT

I'd say at a minimum, 630+ across the board, preferably 650+. That being said, are you going for the Venture or VentureOne? You mentioned a minimum $5k SL. That's reserved for the regular Venture (with $59 AF and 2x miles). The minimum SL on the VentureOne is $3k.

Re: Venture One Score recommended ??

taxi818 — Tue, 01 Sep 2015 21:39:16 GMT

Honestly op. keep in mind in the Venture family Capital one is using fico 04 scores. not fico 8. So before deciding it is possible that your fico 04 scores are actually higher than your fico 08 scores. if they are. especially EQ. i would go for it. it is 3 hps. but ive seen low scores get approved before. Even with a 3k limit just to be in the door. Cap one does look at long term relationship as well over scores many times.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 21:54:28 GMT

Why are they using FICO 04?? And how is this known ? Do they only use FICO 04 for venture??

Re: Venture One Score recommended ??

taxi818 — Tue, 01 Sep 2015 21:59:48 GMT

@Anonymous wrote:
Why are they using FICO 04?? And how is this known ? Do they only use FICO 04 for venture??

We can't tell you why they are using 04. its their choice as a lender what they use. but for sure they are for the venture 1 and the Venture as well. other products using fico 08.

How is this known? to the average joe it is not known. But when you get your card they will include a copy of your score and you can match it to the fico scores here at my fico. which also includes the fico 04 scores. So this is how many of us vets here at my fico know. no guessing games when it comes to creditors. Thats why i gave you that tidbit of information. if you are looking at your fico scores here. look at the additional scores to see where your 04 scores stand as well. always do a little research before apping for any card.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 22:00:55 GMT

Oh god my FICO 4 is 30 points LOWER!!!! Who knows how long now I'll have to wait distressing indeed. Maybe I can find a lender with a comparable car'd (not BARCLAY!) that o can app for in 3 months that gives a good SL. I wonder who NFCU uses or Citi, at others ??

Re: Venture One Score recommended ??

taxi818 — Tue, 01 Sep 2015 22:05:21 GMT

@Anonymous wrote:
Oh god my FICO 4 is 30 points LOWER!!!! Who knows how long now I'll have to wait distressing indeed. Maybe I can find a lender with a comparable car'd (not BARCLAY!) that o can app for in 3 months that gives a good SL. I wonder who NFCU uses or Citi, at others ??

Well to be honest. The Venture 1 is subpar at best. But it has no AF. So that is very good. at 1.25 redemption rate. The Quicksilver or the Quicksilver one is a superior card in all aspects. I can't think of a card equal to the venture 1. But arrival with barclays for sure equals the Venture. and many other better 2% cards out there. remember its not all about score with cap one. length of time being a cap one customer plays a role. i went from 500 to 10k with Them in about a year. so im sure your payment history is major factor with cap one.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 22:08:16 GMT

Maybe I'll app for the regular QS in a few months as I LOVE the cash rewards on my QS1s. Just hoping for a decent SL. $5000 would be great but I'd love to see that $10-15,000 approval ! I'll wait until my FICO 8 hits 640+.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 22:09:14 GMT

Ps. My payment history with them is flawless and I make 5-7 payments monthly and leave low balances. Excited to see my credit steps CLI as I've heard large pay downs result in BIG CLIS

Re: Venture One Score recommended ??

taxi818 — Tue, 01 Sep 2015 22:10:46 GMT

@Anonymous wrote:
Maybe I'll app for the regular QS in a few months as I LOVE the cash rewards on my QS1s. Just hoping for a decent SL. $5000 would be great but I'd love to see that $10-15,000 approval ! I'll wait until my FICO 8 hits 640+.

Good plan. i got the Qs with about a 640 as well. Its only 5k. But hey im not complaining. They just sent me some BT checks in the mail last week. 0% 12 months. Can write check to my self. no interest. outstanding. yes very true. you make large and multiple payments with cap one. They will reward you. my first cli with steps was 3k.

Re: Venture One Score recommended ??

Anonymous — Tue, 01 Sep 2015 22:14:21 GMT

Wow!!! Great. How do the checks work? I'm confused lol. Hoping for a $7500 SL minimum so maybe I'll wait until 650