topic Re: Declined for a Secured Card from Capital One in Credit Cards

Declined for a Secured Card from Capital One

Anonymous — Thu, 26 Apr 2012 02:04:19 GMT

Could it be I was an AU on an account that was charged off?

Re: Declined for a Secured Card from Capital One

pizzadude — Thu, 26 Apr 2012 02:09:38 GMT

@Anonymous wrote:
Could it be I was an AU on an account that was charged off?

How recent was the account charged~off ? Cap1 doesn't really have a reputation for blacklisting as much as other companies. Have you received a letter of explanation yet ?

Re: Declined for a Secured Card from Capital One

MarcinXP — Thu, 26 Apr 2012 02:12:27 GMT

It could be that your score is way too low or too many baddies. I was declined for Secured Card with Capital One in August of last year and thats when it sunk that my credit must be really low in order to get even that kind of rejections...PFD and deleted few baddies..opened Applied Bank and in November got approved for Unsecured Capital One. Now my TU FICO is at 610 and EQ at 585 and climbing. With 440EQ and 540TU...im thinking its too low of a score or major derogs.

Oh and I had a Capital One Charge Off from 2009 so definitely not because of blacklisting.

Re: Declined for a Secured Card from Capital One

Anonymous — Thu, 26 Apr 2012 02:23:04 GMT

Just applied today so no letter yet. CO was a year or so ago.

Re: Declined for a Secured Card from Capital One

Anonymous — Thu, 26 Apr 2012 02:30:51 GMT

Are they only secured card you've tried for? I didn't try for them when I started rebuilding in 08 because I had a CO with them (it's aged off now)... I went with a BofA secured card (because I banked with them and hoped that would give me leverage - don't know if it did) and an Orchard secured. My scores were TU 495 || EX 539 || EQ 528 at the time and I had loads of baddies that were 1-3 years old and almost nothing positive on my CRs except for one installment account.

The BofA was $300 and became unsecured at 12 months. They CLI'd to $800 and it's been stagnant since.

The Orchard was $200 and remains so, I'll be closing it next year.

I used those two cards (as well as a jeweler account, but that company no longer reports) to build up some positive tradelines. After a year and a half I app'd with HSBC (figured I'd slowly climb the rungs to bigger and better fish because I was scared of rejection) and got a $750 unsecured limit that got a $200 auto CLI somewhere around the 18 month mark.

A secured Orchard might be easier to get, but since Cap1 bought HSBC/Orch - I'm not sure how different things are...

Re: Declined for a Secured Card from Capital One

Anonymous — Thu, 26 Apr 2012 02:36:41 GMT

I only applied for them because their depsit was either 49 or 99 or 200 for a 200 line and someone here got one and had lower scores than me. Do they recon? I have about 3 baddies falling off by next month.

Re: Declined for a Secured Card from Capital One

Anonymous — Thu, 26 Apr 2012 02:44:52 GMT

I'm not sure if they recon, but you could certainly try... If you have baddies falling off in a month, it's probably just better to hold off a bit longer and try again after they're gone since you'll likely see some sort of increase.

Re: Declined for a Secured Card from Capital One

luvsandyshores — Thu, 26 Apr 2012 13:42:26 GMT

When I started trying to rebuild my credit 2 years ago, I tried for Cap1 secured first and was denied. Tried Orchard next, and was approved. All I had on my report were a couple 4-5 year old charge offs, and no current tradelines. My vote is try Orchard.

Re: Declined for a Secured Card from Capital One

Anonymous — Thu, 26 Apr 2012 22:23:18 GMT

Doesn't Orchard have a lot of fees?

Re: Declined for a Secured Card from Capital One

Anonymous — Thu, 26 Apr 2012 23:09:14 GMT

@Anonymous wrote:
Doesn't Orchard have a lot of fees?

Just an annual fee, about $39. Capital One and Orchard secured cards are considered easier to get than most major banks.

Re: Declined for a Secured Card from Capital One

Anonymous — Fri, 27 Apr 2012 04:24:39 GMT

Could I get a decline for an id security alert placed on my CR by Experian?

I applied for Cash and then Secured with one app.

Re: Declined for a Secured Card from Capital One

Anonymous — Fri, 27 Apr 2012 04:36:30 GMT

@Anonymous wrote:
Could I get a decline for an id security alert placed on my CR by Experian?

I applied for Cash and then Secured with one app.

Capital One pulls all 3 CR. So if the security alert blocked them, my guess is yes.

Re: Declined for a Secured Card from Capital One

Anonymous — Fri, 27 Apr 2012 05:30:21 GMT

I have Credit watch through TU and and Experian, I see an inquiry only showed on experian, no other report

Re: Declined for a Secured Card from Capital One

TATATA — Fri, 27 Apr 2012 05:42:37 GMT

Try a credit union. Maybe you won't have to pay an annual fee.

Re: Declined for a Secured Card from Capital One

scottwagnon — Fri, 27 Apr 2012 13:35:32 GMT

@Anonymous wrote:
Doesn't Orchard have a lot of fees?

Applied bank is a good option for you. Also try going for a local bank/credit union secured product. They will be more likely to help. Cold apping online especially for big banks is not a good idea for you. You need to personally visit the local bank/credit union that you wish to apply for a secured account.

Re: Declined for a Secured Card from Capital One

Anonymous — Sat, 28 Apr 2012 05:56:04 GMT

I think applied bank sent me a card without me applying late last year, I'll have to check my drawer for it.

Re: Declined for a Secured Card from Capital One

webhopper — Sat, 28 Apr 2012 06:04:51 GMT

@Anonymous wrote:
I think applied bank sent me a card without me applying late last year, I'll have to check my drawer for it.

Its going to be a little difficult for you to get a secured card if you're not current on your present credit obligations... Are all of your accounts at least current?

Re: Declined for a Secured Card from Capital One

Anonymous — Sat, 28 Apr 2012 07:07:59 GMT

Are you asking if I have no collections?

Yes I have collections.

Other than those all my open accounts ae current, yes.

Re: Declined for a Secured Card from Capital One

scottwagnon — Sat, 28 Apr 2012 17:20:03 GMT

@Anonymous wrote:
Are you asking if I have no collections?
Yes I have collections.

Other than those all my open accounts ae current, yes.

you are guaranteed approval with applied bank as they don't even pull your report.

Re: Declined for a Secured Card from Capital One

Anonymous — Sat, 12 May 2012 05:52:05 GMT

Called for a Recon and they said they'd have to pull another report. Also, used one of the backdoor numbers and guy I spoke to said he was a credit analyst and then when he said he couldn't pull up the reason for decline I got suspicious. Asked for a supervisor and she told me neither of them were credit analyst and can only submit a recon request for me. She even tried to suggest we get the CRA on the line so they can help me decide what card is best for me. What a crock! I then called Barclay for a recon and got a no but knew I was talking to an analyst as he discussed the original decline in detail. I also just applied for a savings with Navy Federal so hopefully once I hear back from that I can go in branch and maybe apply for their secured. Any suggestions?