topic Re: Capital One: Three Hard Inquiries in Credit Cards

Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 01:02:30 GMT

The subject looks like a title of a horror movie for us, FICO'ers. lol.

So here is my credit plan-- I am going to be spending $1.5k here coming up shortly in one purchase and I thought about ways to maximize some rewards for that purchase. I have decided to apply for the Capital One Quicksilver and the Capital One VentureOne cards. I thought about applying for a Citi Double Cash, but there are too many forums about low starting limits on there--- opposite of what I want seeing as I am trying to bring my utilization down. (13%).

The Quicksilver will give me $100 cash back if I spend $500 in 3 months.

The VentureOne will give me $200 in travel credit if I spend $1,000 in 3 months (more than likely going to travel in a few months).

MY QUESTION is if I apply for both the QS and the VentureOne card immediately after the first, will that result in the typical 3 hard pulls that Capital One will do or 6 since I am doing two cards the same day?

Also, if I want to end this game coming out with the highest available credit that day, which card should I apply for first?

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 01:10:16 GMT

Usually no. Just one round of pulls. But not guaranteed. Good look.

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 01:12:33 GMT

Have you considered the Venture card instead of the VentureOne?

Re: Capital One: Three Hard Inquiries

JSS3 — Tue, 09 Feb 2016 01:13:26 GMT

Always 1 pull on each bureau for my back to back apps.

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 01:13:46 GMT

I did, thank you for the recommendation though. My spending annually isn't hardly close enough to justify that AF. I noticed after I got my AMEX that I could never get another AF card.

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 01:19:29 GMT

The Venture AF is waived the first year. If you got both, you could rollover the Venture credit line to the Quicksilver and cancel the Venture before the AF is due.

Re: Capital One: Three Hard Inquiries

Loquat — Tue, 09 Feb 2016 01:26:14 GMT

When I app'd for my VentureOne cards back to back it was only one rounds of HP's...but I've read where others have tried the same and received 2 rounds of HP's. It's a YMMV kinda thing...

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 01:32:29 GMT

Like someone above said, the Venture AF is waived for the first year, and it tends to give a much higher SL than the V1. You could either merge it into your QS before the AF hits, or convert it then to the V1 with no AF.
As for the pulls, i'm pretty sure you always pull each bureau for each app, so you will get hit twice. However, the CRA's typically automatically delete the second inquiry because they assume it was an error. YMMV, but that's my theory based on multiple stories i've seen where users got notifications for 2 inquiries from their monitoring services, but later see that the second one gets deleted.

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 02:32:38 GMT

Here is the thing though: I don't mind apping and canceling the AF cards after the first year, as long as it doesn't affect my AAoA or add any other eye raisers to my CR. I don't want the creditors to think I am "credit surfing." I just recently closed my AMEX due to the high AF.

If I app for the Venture and then transfer the whole limit to my Quicksilver after my first year is up, would it show as a closed or open account? What if I even converted it down to the VentureOne? Would I have to take another HP for that?

EDIT: Nevermind guys, forget the Venture card. There is no 0% interest promo. I'd probably rack up on these cards and want to not pay it off so quickly, so looks like only the QS and V1 are my only ones.

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 03:28:59 GMT

eeeek. with your scores, limits and profile, why bother with capital one??

use 1 inquiry with chase(might be 2 because thats how they roll), get 200 with aarp and combine with ihg for several free nights and another $50

use 1 more inquiry with bank of america for another 175-200.

get the arrival plus which has 0 for 12 months https://home.barclaycardus.com/cards/barclaycard-arrival-plus-world-elite-mastercard.html pair that inquiry with another card if u can afford the spend. combine with cash forward for another $100

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 05:19:54 GMT

@Anonymous wrote:
Here is the thing though: I don't mind apping and canceling the AF cards after the first year, as long as it doesn't affect my AAoA or add any other eye raisers to my CR. I don't want the creditors to think I am "credit surfing." I just recently closed my AMEX due to the high AF.

If I app for the Venture and then transfer the whole limit to my Quicksilver after my first year is up, would it show as a closed or open account? What if I even converted it down to the VentureOne? Would I have to take another HP for that?

EDIT: Nevermind guys, forget the Venture card. There is no 0% interest promo. I'd probably rack up on these cards and want to not pay it off so quickly, so looks like only the QS and V1 are my only ones.

Best of luck to you! There have been many reports of people submitting 2 apps with 1 hard pull on each report.

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 05:40:44 GMT

Hmm, I am itching to give it a go, guys!

My only worry is my utilization at the moment which is 13%. $2,070/$15,900 available credit.

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 16:25:29 GMT

@Anonymous wrote:
Hmm, I am itching to give it a go, guys!

My only worry is my utilization at the moment which is 13%. $2,070/$15,900 available credit.

go back to bank of america or to barclays!! or chase! or all three!

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 19:46:31 GMT

I have all those except Barclay's, lol.

Re: Capital One: Three Hard Inquiries

Anonymous — Tue, 09 Feb 2016 19:47:05 GMT

What do you guys think regarding my utilization though? Would they give me a nice limit?

Re: Capital One: Three Hard Inquiries

NRB525 — Tue, 09 Feb 2016 20:10:37 GMT

@Anonymous wrote:
What do you guys think regarding my utilization though? Would they give me a nice limit?

So you do not have a Capital One card yet? Without that, it seems like you cannot predict limits. What is your prequalification result from Capital One?

Your siggy is out of date? No more PRG? Not a huge issue, except you might consider Blue Cash or Every Day cards with no AF, potential 0% APR promo and build from that history with AMEX.

Re: Capital One: Three Hard Inquiries

Anonymous — Fri, 12 Feb 2016 02:41:47 GMT

Hmmm, I have always wondered why I have never prequalified for anything-- Until I realized it was because I was 20 years old, lol. So I don't think it will work properly since I read you got to be 21 and over to get offers.

And I did check out the AMEX's cards.

Re: Capital One: Three Hard Inquiries

NRB525 — Fri, 12 Feb 2016 02:55:54 GMT

Well, with Capital One, that is one bank where you will be building a lifetime relationship. What that means to you is, you need to start with one card with Capital One. I'd suggest apping the Quicksilver no AF card, and only the QS.

It would be nice to put the entire $1,500 on one card, it sounds like that is a single purchase, and that is of course going to depend on the CL you get from the QS, but think a bit longer term here. With your first Capital One card, that's the first clear view they will begin to have available to see your activity. After 6 months or a year of using the QS, you may get CLI along the way. Your second app with Capital One will result in a substantially higher CL at that time.

Re: Capital One: Three Hard Inquiries

Anonymous — Fri, 12 Feb 2016 02:59:36 GMT

before you app!!

do not get the venture one. here's why:
it's basically a restricted 1.25% card only redeemable for travel so the QS is better anyway. sure you get 20k bonus miles ($200) but after that it's useless
get the venture. $40k bonus miles and its 2 points per dollar so you'll have 46k points ($460) and downgrade it to the v1 later. the AF is waived the first year anyway

Re: Capital One: Three Hard Inquiries

Anonymous — Fri, 12 Feb 2016 03:00:45 GMT

and the pulls are hit and miss. i did the double card trick in november and got 4 total pulls so you never know. did the double again last night so we shall see. only one showed up so far so yeah the others need to update foo