topic Re: How inquiry sensitive is Cap1? in Credit Cards

How inquiry sensitive is Cap1?

Anonymous — Wed, 05 Apr 2017 05:04:02 GMT

I've heard Cap1 has been being more restrictive with regards to giving out any sort of credit (new or increase to established accounts). I have 4 new accounts in the past 2 years (newest is Feb, and each about 3 months before the last). The inquiries are spread out so there is 1 at each bureau and 2 at I believe Equifax. I have scores in the 760+ range. I plan on trying for the Premier Dining Rewards in late June, early July (if Discover/Freedom don't have restuarants, and if one does in late Sept, early Oct). Anyone know if Cap1 is going to deny based on too many inquiries?

Re: How inquiry sensitive is Cap1?

Aduke1122 — Wed, 05 Apr 2017 05:38:00 GMT

I don't think a couple of inquiries will be reason for a denial . Yes they are seeming to be getting tight where new and established credit comes in esp with the "too many inquiries " I have gotten that excuse for a denial in CLI recently among lots more of us here . But I don't think you have anything to worry about

Re: How inquiry sensitive is Cap1?

Anonymous — Wed, 05 Apr 2017 05:40:06 GMT

A few scattered around? I dont think anyone except Barclay would deny you for that. Cap 1 deffinately has been tightening its belt lately, but I doubt they'd deny strictly on inquiries. Just be aware that cap 1 pulls all three. So if theres other cards you're interested in I'd prioritize those over cap 1.

Re: How inquiry sensitive is Cap1?

Anonymous — Wed, 05 Apr 2017 06:02:40 GMT

You can to their page and see if you prequalify. No hp to see.

Re: How inquiry sensitive is Cap1?

Anonymous — Wed, 05 Apr 2017 07:44:21 GMT

I have a DC, Marvel, Cash+, Discover It, Freedom, Amazon, and 1FBUSA (gives me 2% on all purchases as credit each month).

I also have an eBay and a JCP card, but both of those are SD until they either close or I decide to cancel (unless the eBay can PC to the pilot of the 2% back card).

The reason I want the card is a planned one off international trip next year (I don't travel much, let alone internationally). My Amazon and 1FBUSA cards have no FTF and are both Visas. Many sites recommend having at least 3 CCs, including at least 1 Visa and 1 MC preferrably from different lenders in case a freeze happens. This card would cover the 1 MC with no FTF and gets the same rate back for dining and groceries that I get currently so it wouldn't be a use once and SD card unlike the Quicksilver that I was contemplating before this card was released.

Besides the Premier Dining card, I am interested (but not fully set) on 2 other cards. They are the Amex BCE and BoA BBR. I don't spend over $3200 in groceries in a year to justify the Preferred and can't justify a HP for a less accepted 1% better at US supermarkets card. That and the $25 increments redemption.

The BoA interests me for the quarterly statement credit, but the T+C languages says you get it if you pay more than the min due. I wouldn't want to spend say $30 on the card each month while using my other cards and worry if I spent enough to qualify. Supposively, it also includes PIF if the min due is the same, but I don't want to find a opened an account and used a HP for nothing but a headache.

I recognize that Bankamerideals and Amex Offers tend to be useful to some people, but I plan on saying they will be useless. I'd rather find out after applying because I want the card the deals are good rather than apply in expectation of the deals and find out I won't use them.

Re: How inquiry sensitive is Cap1?

Anonymous — Wed, 05 Apr 2017 11:38:17 GMT

Inquiries are always YMMV. With a few in your case with 760 scores you are in great shape no worries.

Re: How inquiry sensitive is Cap1?

fltireguy — Wed, 05 Apr 2017 13:21:59 GMT

One thing to remember, some of the rewards cards(not sure about CapOne) will only pay rewards on US purchases

Re: How inquiry sensitive is Cap1?

Anonymous — Wed, 05 Apr 2017 16:50:11 GMT

@fltireguy wrote:
One thing to remember, some of the rewards cards(not sure about CapOne) will only pay rewards on US purchases

Good to know as I didn't know that. I know that Chase still pays rewards on abroad purchases (as long as I'm not getting some sort of cash directly: ie cash advance in foreign or US currency). My 1FBUSA gives 2% on everything including cash advances and such. I checked the CapOne T+C and it makes no mention of not being rewarded for foreign purchases, so if it didn't I could force CapOne to comply. I'm sort of wonderring who doesn't reward for international purchases considering the FTFs that most cards have, and most that don't have FTFs encourage travel of all sorts.

Re: How inquiry sensitive is Cap1?

HeavenOhio — Wed, 05 Apr 2017 17:46:02 GMT

I looked at the fees and disclosures for three CapOne cards (Premiere Dining, Quicksilver, Venture), and there's nothing about rewards outside the US not counting. All the documents say is this: "Cash advances, balance transfers, and checks used to access your account are not considered purchases and will not earn rewards."

Of course, if you want to be sure, call and ask.

Re: How inquiry sensitive is Cap1?

taekwon — Sat, 08 Apr 2017 03:33:24 GMT

I travel abroad 11 months/year and use my capital one cards every where I go. Capital one pays rewards on all purchases regardless of the country the card is being used in. IMO cap1 is a good travel card. You don't have to worry about setting up travel notifications.

Re: How inquiry sensitive is Cap1?

Creditplz — Sat, 08 Apr 2017 03:44:39 GMT

Capital One denied me with scores ranging from 755-767..

Re: How inquiry sensitive is Cap1?

Anonymous — Sat, 08 Apr 2017 05:05:34 GMT

@Creditplz wrote:
Capital One denied me with scores ranging from 755-767..

How many inquiries did you have at each bureau? And how many new accounts in the past 2 years? I have 4 new accounts with 1TU-1EX-2EQ inquiries.

Re: How inquiry sensitive is Cap1?

HeavenOhio — Sat, 08 Apr 2017 05:13:44 GMT

@Creditplz wrote:
Capital One denied me with scores ranging from 755-767..

Also, did you pre-qualify, or did you do a cold app?

Re: How inquiry sensitive is Cap1?

Creditplz — Sat, 08 Apr 2017 05:18:56 GMT

50+, but 0 in the last 8-9 months.. also about 14 accounts in last 2 years.

Re: How inquiry sensitive is Cap1?

Creditplz — Sat, 08 Apr 2017 05:19:26 GMT

Cold app.. other lenders don't seem to have issues with my CR

Re: How inquiry sensitive is Cap1?

Anonymous — Thu, 18 May 2017 17:19:15 GMT

just after my CH13 was discharged (1/2/2017), I used Cap 1 prequalified page and two cards popped up, one of which was the secured card the other the platinum card. My scores were in the upper 500-lower 600s. I applied for and was instantly approved for the secured card. I've used and paid on time each month since then and my FICO scores have gone up dramatically. Cap 1 sent me an invitation to apply for their unsecured platinum card. I threw the invitation away thinking I should stick with the one card. After learning about needing more than one card, I decided to apply for the unsecured card they had pre-approved me for via the mail offer and did so online. I was send a denial 7-10 day letter. Of course, by this time I had several inquiries with 5 being the highest at one of the credit bureaus. When I use their online prequal tool, it says I have no offers. They did offer me a car loan early in the year, which I turned down because it was at 18%. (I was able to get 11.2% from Wells Fargo.) I am suspicious that the reason they did not approve my app for the unsecured card is because I have too many inquiries. Since they do a triple pull, they can add them up across all credit bureaus. My total is around 10. I'm not inclined to apply for Cap1 again any time soon, now that I know they do a triple pull and suspect they are sensitive to the number of inquiries. Kind of ironic if you think about it. Still I'm glad to have my little secured card and am thankful that Cap1 approved me for it.

Re: How inquiry sensitive is Cap1?

Anonymous — Tue, 20 Jun 2017 17:16:31 GMT

Just tried the Cap1 prequal website and still nothing, but when I use the Credit Karma prequal, I get 2 Cap1 cards --- QS and Venture.

im perplexed at the difference. Any insights would be appreciated.

Re: How inquiry sensitive is Cap1?

Anonymous — Tue, 20 Jun 2017 17:30:54 GMT

@Anonymous wrote:
Just tried the Cap1 prequal website and still nothing, but when I use the Credit Karma prequal, I get 2 Cap1 cards --- QS and Venture.
im perplexed at the difference. Any insights would be appreciated.

The CK prequal is VERY iffy.

Re: How inquiry sensitive is Cap1?

Anonymous — Tue, 20 Jun 2017 18:36:20 GMT

I'll be watching this subject going forward. I upgraded my Platinum to QS last week, and am expecting my Credit Steps CLI in August. I haven't had any luck getting "manual" CLI's thus far, so I'm considering going down the combination path by applying for a second QS and then putting the two together; I may wait to do that, though, until after I've paid down and closed my secured Platinum.

Re: How inquiry sensitive is Cap1?

Anonymous — Tue, 20 Jun 2017 20:49:33 GMT

Just another datapoint:

Cap One denied my QS1's CLI requests for 7 months due to 'too many inquiries' but when I decided to throw caution into the wind, cancel my 2 year old secured card and apply for an unsecured Platinum they gave me one of equal SL as my secured card was, post credit steps -- on the same day I was denied again for a CLI on my QS1 for too many inquiries.

(and for the plat, hopefully I can convert it to a fee free QS to combine my QS1 into, because they won't convert the QS1)