topic Re: Venture Approval Stats - 83 Approvals Compiled in Credit Cards

Venture Approval Stats - 83 Approvals Compiled

dallasareaguy — Thu, 17 Sep 2015 03:24:24 GMT

I took some time to pull all the stats from the thread of Venture Approvals.

(ADDED NOTE: I used the data from the BIG Venture Approval Thread that began in early 2015)

** I pulled out all items that used FAKO or NON FICO scores where possible.

** I pulled out items that were missing scores

Please don't bash me for innaccuracies, the data is justfor those interested.

Out of 83 Approvals Submitted:

$30,000 (04 Approvals) AVG 3 SCORE APPROVAL: 769 --- LOWEST AVG APPROVAL: 692 --- LOW SCORE REPORTED: 710/692/675

$20,000 (12 Approvals) AVG 3 SCORE APPROVAL: 717 --- LOWEST AVG APPROVAL: 667 --- LOW SCORE REPORTED: 664/664/674

$15,000 (18 Approvals) AVG 3 SCORE APPROVAL: 701 --- LOWEST AVG APPROVAL: 652 --- LOW SCORE REPORTED: 664/660/642

$10,000 (34 Approvals) AVG 3 SCORE APPROVAL: 685 --- LOWEST AVG APPROVAL: 644 --- LOW SCORE REPORTED: 662/640/631

$05,000 (15 Approvals) AVG 3 SCORE APPROVAL: 668 --- LOWEST AVG APPROVAL: 651 --- LOW SCORE REPORTED: 645/648/661

--------------------------------------------

My conclusion is probably what most would presume... a score in the 660s gives you the best shot at approval for this card and the higher the score, the more the limit. I noticed from comparing incomes that income doesnt seem to have a lot to do with limits until you get to the $30k level. There were certainly people getting $20k lines without huge incomes. While this info was useful to me as I approach 660 scores... it probably doesnt reveal much to most people... looks like what you would expect.

But unless anyone disagrees.. I think this card is still ONE OF the kings of easiest cards to get with a $10k limit.... since we are seeing 650ish range getting approved.

UPDATED NOTE: *** This data above does not take into account people who got approvals over $30,000 and does not include INCOME, APR received etc. It is just showing FICO averages and FICO lowest score from the 83 people who gave data.

One thing I noted on scores/approvals: Every approval of the 83 had at least ONE score of 660 or higher of their three scores... and no one had a low score of any of their scores below 628. Just a fact.

Original Thread Data was pulled from.. Data pulled from 02/06/2015 (original date) to 09/16/2015.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Recent-Cap1-Venture-Approval-Stats/td-p/3784684

CREDIT DISCLAIMER: I am not a credit expert (obviously) and these numbers are just stats from 9 months worth of data in one thread on a forum. Your situation may drastically vary due to a host of credit differences on your reports. These numbers are just meant to be hopefully useful in a VERY general sense.

Re: Venture Approval Stats - 83 Approvals Compiled

Kidcat — Wed, 16 Sep 2015 21:13:09 GMT

This is interesting as I think there is a perception that they are handing out $30k limits to people with poor scores

Re: Venture Approval Stats - 83 Approvals Compiled

Broke_Triathlete — Wed, 16 Sep 2015 21:16:40 GMT

Another data point if you missed my post! Interesting post! Thank you!

Re: Venture Approval Stats - 83 Approvals Compiled

Broke_Triathlete — Wed, 16 Sep 2015 21:17:28 GMT

Actually I'm lower than your posted lowest for $15,000.

Re: Venture Approval Stats - 83 Approvals Compiled

dallasareaguy — Wed, 16 Sep 2015 21:22:29 GMT

@Broke_Triathlete wrote:
Actually I'm lower than your posted lowest for $15,000.

I didn't see your name in the big thread or you were excluded because something was missing. I used the people who replied with the data requested by the OP. If I missed you, I apologize.. I will have to go back and look.

Re: Venture Approval Stats - 83 Approvals Compiled

Broke_Triathlete — Wed, 16 Sep 2015 21:24:29 GMT

@dallasareaguy wrote:
@Broke_Triathlete wrote:
Actually I'm lower than your posted lowest for $15,000.

I didn't see your name in the big thread or you were excluded because something was missing. I used the people who replied with the data requested by the OP. If I missed you, I apologize.. I will have to go back and look.

No worries my friend. I think it's awesome that you took the time to do this. I must have missed that thread that you're talking about so I apologize. I thought you skimmed for Venture Approvals. At any rate, my scores are the data points for when I was approved. They are accurate per CCT! Take care and awesome job!

Re: Venture Approval Stats - 83 Approvals Compiled

dallasareaguy — Wed, 16 Sep 2015 21:28:58 GMT

@Broke_Triathlete wrote:
@dallasareaguy wrote:
@Broke_Triathlete wrote:
Actually I'm lower than your posted lowest for $15,000.

I didn't see your name in the big thread or you were excluded because something was missing. I used the people who replied with the data requested by the OP. If I missed you, I apologize.. I will have to go back and look.
No worries my friend. I think it's awesome that you took the time to do this. I must have missed that thread that you're talking about so I apologize. I thought you skimmed for Venture Approvals. At any rate, my scores are the data points for when I was approved. They are accurate per CCT! Take care and awesome job!

Just curious.. (as I use CCT as well).. what were your 3 scores at time of approval...

Re: Venture Approval Stats - 83 Approvals Compiled

Broke_Triathlete — Wed, 16 Sep 2015 22:17:08 GMT

The scores in my sig: | EQ 663 | EX 624 | TU 632 | as I was just approved a week ago!

Re: Venture Approval Stats - 83 Approvals Compiled

Anonymous — Wed, 16 Sep 2015 22:46:37 GMT

Did anyone mention the income they have, as well? Because, I might honestly apply and get a PC to Quicksilver, considering how vanilla Freedom has been...

Re: Venture Approval Stats - 83 Approvals Compiled

LadyJEsq — Wed, 16 Sep 2015 23:39:10 GMT

Where's this thread that you mention? Nice of you to compile this information so that others can see.

Re: Venture Approval Stats - 83 Approvals Compiled

DeeBee78 — Thu, 17 Sep 2015 01:24:14 GMT

@Sladyesq wrote:
This is interesting as I think there is a perception that they are handing out $30k limits to people with poor scores

It's more of them handing out 30K limits to people fresh from BK. However the average approval for the 30k limits was 692, and that's not exactly a fantastically good score.

Re: Venture Approval Stats - 83 Approvals Compiled

taxi818 — Thu, 17 Sep 2015 01:31:30 GMT

@dallasareaguy wrote:
I took some time to pull all the stats from the thread of Venture Approvals.
(ADDED NOTE: I used the data from the BIG Venture Approval Thread that began in early 2015)

** I pulled out all items that used FAKO or NON FICO scores where possible.
** I pulled out items that were missing scores

Please don't bash me for innaccuracies, the data is justfor those interested.

Out of 83 Approvals Submitted:

$30,000 (04 Approvals) AVG 3 SCORE APPROVAL: 769 --- LOWEST AVG APPROVAL: 692 --- LOW SCORE REPORTED: 710/692/675
$20,000 (12 Approvals) AVG 3 SCORE APPROVAL: 717 --- LOWEST AVG APPROVAL: 667 --- LOW SCORE REPORTED: 664/664/674
$15,000 (18 Approvals) AVG 3 SCORE APPROVAL: 701 --- LOWEST AVG APPROVAL: 652 --- LOW SCORE REPORTED: 664/660/642
$10,000 (34 Approvals) AVG 3 SCORE APPROVAL: 685 --- LOWEST AVG APPROVAL: 640 --- LOW SCORE REPORTED: 662/640/631
$05,000 (15 Approvals) AVG 3 SCORE APPROVAL: 668 --- LOWEST AVG APPROVAL: 651 --- LOW SCORE REPORTED: 645/648/661

--------------------------------------------

My conclusion is probably what most would presume... a score in the 660s gives you the best shot at approval for this card and the higher the score, the more the limit. I noticed from comparing incomes that income doesnt seem to have a lot to do with limits until you get to the $30k level. There were certainly people getting $20k lines without huge incomes. While this info was useful to me as I approach 660 scores... it probably doesnt reveal much to most people... looks like what you would expect.

But unless anyone disagrees.. I think this card is still ONE OF the kings of easiest cards to get with a $10k limit.... since we are seeing 650ish range getting approved.

Great Stats. But you did not take into account Finstars 50k approval for both Venture and QS. His massive 100k approval. Or the other members 60k approval. All of this without combining anything. But i do know Fins scores are always hovering 800 plus. so that could explain that one.

Re: Venture Approval Stats - 83 Approvals Compiled

FinStar — Thu, 17 Sep 2015 01:51:48 GMT

@taxi818 wrote:
@dallasareaguy wrote:
I took some time to pull all the stats from the thread of Venture Approvals.
(ADDED NOTE: I used the data from the BIG Venture Approval Thread that began in early 2015)

** I pulled out all items that used FAKO or NON FICO scores where possible.
** I pulled out items that were missing scores

Please don't bash me for innaccuracies, the data is justfor those interested.

Out of 83 Approvals Submitted:

$30,000 (04 Approvals) AVG 3 SCORE APPROVAL: 769 --- LOWEST AVG APPROVAL: 692 --- LOW SCORE REPORTED: 710/692/675
$20,000 (12 Approvals) AVG 3 SCORE APPROVAL: 717 --- LOWEST AVG APPROVAL: 667 --- LOW SCORE REPORTED: 664/664/674
$15,000 (18 Approvals) AVG 3 SCORE APPROVAL: 701 --- LOWEST AVG APPROVAL: 652 --- LOW SCORE REPORTED: 664/660/642
$10,000 (34 Approvals) AVG 3 SCORE APPROVAL: 685 --- LOWEST AVG APPROVAL: 640 --- LOW SCORE REPORTED: 662/640/631
$05,000 (15 Approvals) AVG 3 SCORE APPROVAL: 668 --- LOWEST AVG APPROVAL: 651 --- LOW SCORE REPORTED: 645/648/661

--------------------------------------------

My conclusion is probably what most would presume... a score in the 660s gives you the best shot at approval for this card and the higher the score, the more the limit. I noticed from comparing incomes that income doesnt seem to have a lot to do with limits until you get to the $30k level. There were certainly people getting $20k lines without huge incomes. While this info was useful to me as I approach 660 scores... it probably doesnt reveal much to most people... looks like what you would expect.

But unless anyone disagrees.. I think this card is still ONE OF the kings of easiest cards to get with a $10k limit.... since we are seeing 650ish range getting approved.

Great Stats. But you did not take into account Finstars 50k approval for both Venture and QS. His massive 100k approval. Or the other members 60k approval. All of this without combining anything. But i do know Fins scores are always hovering 800 plus. so that could explain that one.

Thanks Taxi I think there were only 3 or 4 with similar $50K (Venture) SLs reported on these forums? Memory is a bit foggy.

OP - so is the information you provided more like the "Credit Karma" of Capital One approvals (i.e. educational purposes)?

All things considered, and while there is a score range fluctuation in your stats, it doesn't account for AAoA, full income disclosure, overall profile information, etc. It also doesn't illustrate the APRs given to those in the ranges provided - that would be helpful to many who don't want to be stuck with a high APR. Compiling score data vs actual outcome is a good start but provides a false beacon of opportunity for those who want to take the plunge. You may want to put a footnote *subject to credit approval/creditworthiness

Re: Venture Approval Stats - 83 Approvals Compiled

dallasareaguy — Thu, 17 Sep 2015 02:17:47 GMT

@FinStar wrote:
@taxi818 wrote:
@dallasareaguy wrote:
I took some time to pull all the stats from the thread of Venture Approvals.
(ADDED NOTE: I used the data from the BIG Venture Approval Thread that began in early 2015)

** I pulled out all items that used FAKO or NON FICO scores where possible.
** I pulled out items that were missing scores

Please don't bash me for innaccuracies, the data is justfor those interested.

Out of 83 Approvals Submitted:

$30,000 (04 Approvals) AVG 3 SCORE APPROVAL: 769 --- LOWEST AVG APPROVAL: 692 --- LOW SCORE REPORTED: 710/692/675
$20,000 (12 Approvals) AVG 3 SCORE APPROVAL: 717 --- LOWEST AVG APPROVAL: 667 --- LOW SCORE REPORTED: 664/664/674
$15,000 (18 Approvals) AVG 3 SCORE APPROVAL: 701 --- LOWEST AVG APPROVAL: 652 --- LOW SCORE REPORTED: 664/660/642
$10,000 (34 Approvals) AVG 3 SCORE APPROVAL: 685 --- LOWEST AVG APPROVAL: 640 --- LOW SCORE REPORTED: 662/640/631
$05,000 (15 Approvals) AVG 3 SCORE APPROVAL: 668 --- LOWEST AVG APPROVAL: 651 --- LOW SCORE REPORTED: 645/648/661

--------------------------------------------

My conclusion is probably what most would presume... a score in the 660s gives you the best shot at approval for this card and the higher the score, the more the limit. I noticed from comparing incomes that income doesnt seem to have a lot to do with limits until you get to the $30k level. There were certainly people getting $20k lines without huge incomes. While this info was useful to me as I approach 660 scores... it probably doesnt reveal much to most people... looks like what you would expect.

But unless anyone disagrees.. I think this card is still ONE OF the kings of easiest cards to get with a $10k limit.... since we are seeing 650ish range getting approved.

Great Stats. But you did not take into account Finstars 50k approval for both Venture and QS. His massive 100k approval. Or the other members 60k approval. All of this without combining anything. But i do know Fins scores are always hovering 800 plus. so that could explain that one.
Thanks Taxi I think there were only 3 or 4 with similar $50K (Venture) SLs reported on these forums? Memory is a bit foggy.

OP - so is the information you provided more like the "Credit Karma" of Capital One approvals (i.e. educational purposes)?

All things considered, and while there is a score range fluctuation in your stats, it doesn't account for AAoA, full income disclosure, overall profile information, etc. It also doesn't illustrate the APRs given to those in the ranges provided - that would be helpful to many who don't want to be stuck with a high APR. Compiling score data vs actual outcome is a good start but provides a false beacon of opportunity for those who want to take the plunge. You may want to put a footnote *subject to credit approval/creditworthiness

Yeah, I tried in my intial post to state that this was only meant to be a general comparison for 5-30k approvals from ONE thread over the last year. The idea being that it was meant just to show FICO score averages for each of the approval dollar amounts. I know it didnt cover income, APR, etc.. I figured some people would call me out for not turning it into a scientific calculation.. this particular model was just showing FICO averages across the board given the data I had to work with. Sorry it wasn't completely complete - my bad.

Re: Venture Approval Stats - 83 Approvals Compiled

Anonymous — Thu, 17 Sep 2015 04:37:04 GMT

Just an outlier for you, I was approved for $15k 5 weeks ago with EQ602/TU605/Exp629 at the time. However; someone said they go off of Fico 04? Which were incredibly 60-110 points higher for me.

Re: Venture Approval Stats - 83 Approvals Compiled

happypill — Thu, 17 Sep 2015 04:46:28 GMT

I did not contribute to the original thread, but I have two data points.

In January I was approved for a $5k Venture. My scores ranged from around 630 EQ to 660 EX.

In July, exactly 6 months later I was approved for a $30k Venture. My scores ranged from 650 EQ to 675 EX. In the intervening 6 months I put about $5k spend through the card each month.