topic Re: Capital One Pre-qualified letter in the mail in Credit Cards

Capital One Pre-qualified letter in the mail

ronstar7 — Wed, 12 Jun 2013 14:03:14 GMT

Soooo, hello everyone I will keep this short and sweet. In 2 days I will have been in the garden for 3 months BUT then Cap 1 goes and sends me a letter with a reservation number and access code and says I am pre-qualifed for theit platinum after 5th payment I would get an increase. Went to the site entered the numbers given anf a box popped to confirm pre-qual but I closed it out. I have a secured card with them in great standing will be a year in August. I check the pre-qual link EVERYDAY to see if I have anything. Always comes empty, but then I get the letter... Did an online chat w/ Cap 1 rep and she said she didnt see any offers that were sent to me. Scores are not that great below 600 for all three (not by much though) I know they pull all 3, question is do I bite the bullet and app or trash it.? Only other card I have beside store cards (via shooping cart trick) is 1st Premier...I would love to finally have a good unsecured card to help my scores as they seem to just be sitting idle. Any help is greatly APPreciated (lol)

Re: Capital One Pre-qualified letter in the mail

Creditaddict — Wed, 12 Jun 2013 15:06:12 GMT

@ronstar7 wrote:
Soooo, hello everyone I will keep this short and sweet. In 2 days I will have been in the garden for 3 months BUT then Cap 1 goes and sends me a letter with a reservation number and access code and says I am pre-qualifed for theit platinum after 5th payment I would get an increase. Went to the site entered the numbers given anf a box popped to confirm pre-qual but I closed it out. I have a secured card with them in great standing will be a year in August. I check the pre-qual link EVERYDAY to see if I have anything. Always comes empty, but then I get the letter... Did an online chat w/ Cap 1 rep and she said she didnt see any offers that were sent to me. Scores are not that great below 600 for all three (not by much though) I know they pull all 3, question is do I bite the bullet and app or trash it.? Only other card I have beside store cards (via shooping cart trick) is 1st Premier...I would love to finally have a good unsecured card to help my scores as they seem to just be sitting idle. Any help is greatly APPreciated (lol)

I have found offers from capital one are the only way I apply to capital one!

and with scores below 600 INQ are not really going to hurt you accept if you are trying to get better cards soon... so if you are gardening for the next 6 months or so I would apply now!

Re: Capital One Pre-qualified letter in the mail

ronstar7 — Wed, 12 Jun 2013 17:11:02 GMT

@Creditaddict wrote:
@ronstar7 wrote:
Soooo, hello everyone I will keep this short and sweet. In 2 days I will have been in the garden for 3 months BUT then Cap 1 goes and sends me a letter with a reservation number and access code and says I am pre-qualifed for theit platinum after 5th payment I would get an increase. Went to the site entered the numbers given anf a box popped to confirm pre-qual but I closed it out. I have a secured card with them in great standing will be a year in August. I check the pre-qual link EVERYDAY to see if I have anything. Always comes empty, but then I get the letter... Did an online chat w/ Cap 1 rep and she said she didnt see any offers that were sent to me. Scores are not that great below 600 for all three (not by much though) I know they pull all 3, question is do I bite the bullet and app or trash it.? Only other card I have beside store cards (via shooping cart trick) is 1st Premier...I would love to finally have a good unsecured card to help my scores as they seem to just be sitting idle. Any help is greatly APPreciated (lol)
I have found offers from capital one are the only way I apply to capital one!
and with scores below 600 INQ are not really going to hurt you accept if you are trying to get better cards soon... so if you are gardening for the next 6 months or so I would apply now!

Hello and thank you for the response!!!

No I am not aiming for any big girl cards any time soon as I know I wouldnt get them even if if I took the reps to dinner lol. Yes I plan to stay in the garden as long as possible, I like it here and there are always free drinks! I have just been going back and forth about applying since I know they pull all 3. Good to know my score wont get dinged too badly if I do though. Maybe I will have a glass of wine tonight get bold and do it lol. Then I thouhgt maybe I should PIF the highest cards I have first wait to let that utilization report then apply so they would see Im not maxing out. What do you think about that strategy?

Re: Capital One Pre-qualified letter in the mail

09Lexie — Wed, 12 Jun 2013 17:16:30 GMT

Before answering, what's your profile? Util, baddies etc? I posted a response to you in The GC thread as well.

Re: Capital One Pre-qualified letter in the mail

ronstar7 — Wed, 12 Jun 2013 17:23:38 GMT

@09Lexie wrote:
Before answering, what's your profile? Util, baddies etc? I posted a response to you in The GC thread as well.

I know lol, I just saw and answered you there

Re: Capital One Pre-qualified letter in the mail

09Lexie — Wed, 12 Jun 2013 17:30:27 GMT

@ronstar7 wrote:

Thank you for the response, yeah I am working on having some things removed wrote some GW's waiting on responses. Some things fell off but I think all I can do right now is get my utl down by paying down and possibly applying for this card to get more credit. Didnt get preapproved for anything else. Applied to Discover about 6 mos ago denied. Last app was 3 months ago to Walmart and was denied, also denied to JC Penny and I think Sears. Thats why I went in the garden... have a car loan but Ive gotten 3 30 day lates on it so far but even before that my scores were not moving old lien that is due to fall off next year (PIF). I do have alot of inq mostly Transunion. The rest is maybe one or two old collections and student loans that are all current. Never missed any payment on my CC's and always PIF or at least close to it.

When were the lates on the car? And what is your util?

Re: Capital One Pre-qualified letter in the mail

ronstar7 — Wed, 12 Jun 2013 17:33:58 GMT

The first late is from Feb and the last two are from April and May of this year. All cleared up now but the as you know its still reporting late. Utl is 29%

Re: Capital One Pre-qualified letter in the mail

CenturyChild — Wed, 12 Jun 2013 17:45:57 GMT

I don't know if this will help or not, but I can fill you in on my recent approval for a Cap One Cash rewards card.

I too had the Secured card, and had it 10 months at the time of application. It was in good standing.

The Pre-Qual link on thier site always came up empty for me as well.

I apped anyway, for the CW card (Average Version) and was approved for $500 and $250 increase in 6 months (so $750 limit)

At the time of my app, I had 12 INQs on TU. (3 in last 6 months)

For baddies:

Unpaid tax Lien thats 3 years old

My FICO for TU was around a 654 I think. It dropped from a 670 right before app due to higher utilization (at 24% at the time I apped)

I know this is no guarntee you get approved either, but maybe you can tell if your close to what I was.

Although you can still be denied with a letter, having the letter should mean you have a pretty good chance though. Better than just apping without. I do think CapOne will put some wieght into your history with them so far to, so that will help significantly.

I got this card and Walmart Card for $700 on the same day. But, I also have a good history started with GE from Amazon. So that may have been a factor here.

But I do not have any negatives other than the lien. No lates or missed payments etc on any of my accounts.

Re: Capital One Pre-qualified letter in the mail

09Lexie — Wed, 12 Jun 2013 17:40:30 GMT

Unfortunately, those recent lates and util are a killer - even for Cap 1 IMO. It looks like you want more credit and can't manage the debt you already have outstanding. Let some time between the lates before applying for a new cc. You might want to try GW letters too. After you've tackled the lates and your util - then app for a new cc.

Maybe not what you want to hear but going for cap 1 now is not in your best interest.

Re: Capital One Pre-qualified letter in the mail

ronstar7 — Wed, 12 Jun 2013 17:45:16 GMT

@CenturyChild wrote:
I don't know if this will help or not, but I can fill you in on my recent approval for a Cap One Cash rewards card.

I too had the Secured card, and had it 10 months at the time of application. It was in good standing.
The Pre-Qual link on thier site always came up empty for me as well.

I apped anyway, for the CW card (Average Version) and was approved for $500 and $250 increase in 6 months (so $750 limit)

At the time of my app, I had 12 INQs on TU. (3 in last 6 months)

For baddies:
Unpaid tax Lien thats 3 years old

My FICO for TU was around a 654 I think. It dropped from a 670 right before app due to higher utilization (at 24% at the time I apped)

I know this is no guarntee you get approved either, but maybe you can tell if your close to what I was.

Although you can still be denied with a letter, having the letter should mean you have a pretty good chance though. Better than just apping without. I do think CapOne will put some wieght into your history with them so far to, so that will help significantly.

I got this card and Walmart Card for $700 on the same day. But, I also have a good history started with GE from Amazon. So that may have been a factor here.

Thank you for the response, yeah you have less inq than me at the time of app and your score was way higher. I just find it strange that even though I got the letter the rep said they have no record of sending me on which makes me belive its not a true pre-qual even though it says it is.

Re: Capital One Pre-qualified letter in the mail

ronstar7 — Wed, 12 Jun 2013 17:50:24 GMT

Thank you for the response, I can manage just fine my husband just lost his job and thats when I feel behind before that I was fine which I how I got approved for the car in the first place with no money down and no co-signer. No I dont want any more credit I guess you could say I was just curious becasue they sent a letter and this was my first ever so I got excited. I have 2 pending GW"s out now waiting on responses. I agree with getting the utli down and the lates. Do you know how long lates affect my report/ chances of getting anything in the furture? Also would they removed any lates since i am current now (car loan)?

Re: Capital One Pre-qualified letter in the mail

09Lexie — Wed, 12 Jun 2013 17:59:37 GMT

Lates have less effect on your CS as they age. Since they are recent lates, the damage to your CS is at its highest now. I would suggest asking for a GW letter- they may want to see more payments on time before they'll consent.

Re: Capital One Pre-qualified letter in the mail

ronstar7 — Wed, 12 Jun 2013 18:02:05 GMT

Gotcha, thank you for your help!!!

Re: Capital One Pre-qualified letter in the mail

09Lexie — Wed, 12 Jun 2013 18:18:58 GMT

Anytime

Re: Capital One Pre-qualified letter in the mail

myjourney — Thu, 13 Jun 2013 00:33:53 GMT

I read this entire thread ronstar

First let me add ..having that glass of wine while gardening was a very good idea..Bravo

Second since you are gardening it's the best time to work on those GW while increasing AAoA,Scores and reducing UTL.

All that being said I think you made the right choice to stay in the garden and enjoy those free drinks and I'll buy the first round Friday Night Lol

See you in the garden

P.S. More pre-approvals are forth coming in the mail and it's a direct results of your hard work so don't bite now wait on the one that's right for you!!!!!!!!!!

Re: Capital One Pre-qualified letter in the mail

TiggerDat — Thu, 13 Jun 2013 01:06:58 GMT

You should get your util down.

Try to get an lates you can removed, even if you have to wait a few months to do so.

Don't take the offer, it will probably be there later anyway. They will probably send you another in a few months.

Here is some advice about your cards and buying habits. Use the cards for everything and pay them all that you can. Basically use them as your checking account. Don't keep any money in your checking account. What you will find happening if you do it right is that you will stop paying interest on the balances. You will also start watching your spending a little more. You might even find when you are the store making choices between Del Monte and Safeway brand corn. I used this tactic in my spending, I became frugal and I will tell you it has benefitted me in so many ways. I can buy anything I want! I choose not to! Instead I find myself making better buying choices. I don't need Gucci, I am OK with Lee. (I actually like the feel of Lee jeans better.) I am the last person to quibble at the restaurant when it comes to paying the bill. I save so much elsewhere that I don't need to worry whether someone else is not adding tax into their purchase or trying to give less of a tip. I just simply drop the card and collect the money. (I don't really run into this often, but when it does happen I simply pay.) I earn a bit extra on the rewards and there is no confrontation which might cause someone embarrassment. I actually get treated to dinner fairly often because of this tendency. Someone at some time simply refuses to let me pay for dinner since they know I have covered in the past.

I buy the good things, not a brand name, if the two are equal then that is fine too. I just make sure that what I buy has quality and will last a long time. I am very happy with my 1 1/2 year old cell phone. (No, not an iPhone!) My phablet serves two purposes, so I made a wise choice and did not need to buy two devices when one worked better. My sister is in the habit of telling me things like this brand is only a few cents more or this brand is on sale. I ignore her since I realize that even a few cents adds up over time. Just because it is on sale does not mean I should buy it. I do buy things on sale, the things I must have. I actually stock up on sale items even it means that I go through the checkout twice or my fiance goes through after me. (My fiance used to think I was cheap, but now not so! It took a while but now we are in agreement and can see how it will benefit us in the future.) I altered my spending and it helped me get a better score, better cards, and actually a much happier life. I second guess just about everything I buy. I take the subway and not taxi's. (I have a friend who makes twice what I do and has nothing. He takes taxi's and eats out every meal except breakfast. I have the better life and a much nicer apartment, which I bargained the price down on! I have much more in my savings account than he does and I find that gives me extra pride.)

If I see something I like, I wait a few days in most situations to buy it. Generally, I forget about it, which means I did not need it. If it I did remember then I go back and buy it. I made a commitment one day to pay off the balance on my credit card and simply did so. Since then I have only revolved a balance 1 month. (That was to actually toss Cap One a bone and hopefully get a CLI.) Once I made that determination to change my habits all has been much better for me. I still use my credit cards, generally for every purchase I can. Instead of paying interest I collect rewards. We don't need to be rich to get the same treatmeant, we just need to be smart. My change in habits allowed me to go back to school and get another degree and save $20,000. I am confident that you can get where you want too! (Oh by the way, that MBA has gotten me a job offer at double my salary!) Good luck, garden for a bit longer. Get the temptation more later when you are really ready to get to the next level.

Re: Capital One Pre-qualified letter in the mail

ronstar7 — Thu, 13 Jun 2013 14:17:25 GMT

@myjourney wrote:
I read this entire thread ronstar

First let me add ..having that glass of wine while gardening was a very good idea..Bravo
Second since you are gardening it's the best time to work on those GW while increasing AAoA,Scores and reducing UTL.

All that being said I think you made the right choice to stay in the garden and enjoy those free drinks and I'll buy the first round Friday Night Lol
See you in the garden
P.S. More pre-approvals are forth coming in the mail and it's a direct results of your hard work so don't bite now wait on the one that's right for you!!!!!!!!!!

Thank you and that is exactly what I itend to do, I will have to get DH to shred the app for me as I cant bear to watch lol, gonna work hard and see what else comes my way. I checked my cr and saw that I actually applied to cap 1 5 months ago and got a decline so it would prob be the same now. No sense getting 3 pulls for nothing

Re: Capital One Pre-qualified letter in the mail

ronstar7 — Thu, 13 Jun 2013 14:19:03 GMT

@bernhardtra wrote:
You should get your util down.

Try to get an lates you can removed, even if you have to wait a few months to do so.

Don't take the offer, it will probably be there later anyway. They will probably send you another in a few months.

Here is some advice about your cards and buying habits. Use the cards for everything and pay them all that you can. Basically use them as your checking account. Don't keep any money in your checking account. What you will find happening if you do it right is that you will stop paying interest on the balances. You will also start watching your spending a little more. You might even find when you are the store making choices between Del Monte and Safeway brand corn. I used this tactic in my spending, I became frugal and I will tell you it has benefitted me in so many ways. I can buy anything I want! I choose not to! Instead I find myself making better buying choices. I don't need Gucci, I am OK with Lee. (I actually like the feel of Lee jeans better.) I am the last person to quibble at the restaurant when it comes to paying the bill. I save so much elsewhere that I don't need to worry whether someone else is not adding tax into their purchase or trying to give less of a tip. I just simply drop the card and collect the money. (I don't really run into this often, but when it does happen I simply pay.) I earn a bit extra on the rewards and there is no confrontation which might cause someone embarrassment. I actually get treated to dinner fairly often because of this tendency. Someone at some time simply refuses to let me pay for dinner since they know I have covered in the past.

I buy the good things, not a brand name, if the two are equal then that is fine too. I just make sure that what I buy has quality and will last a long time. I am very happy with my 1 1/2 year old cell phone. (No, not an iPhone!) My phablet serves two purposes, so I made a wise choice and did not need to buy two devices when one worked better. My sister is in the habit of telling me things like this brand is only a few cents more or this brand is on sale. I ignore her since I realize that even a few cents adds up over time. Just because it is on sale does not mean I should buy it. I do buy things on sale, the things I must have. I actually stock up on sale items even it means that I go through the checkout twice or my fiance goes through after me. (My fiance used to think I was cheap, but now not so! It took a while but now we are in agreement and can see how it will benefit us in the future.) I altered my spending and it helped me get a better score, better cards, and actually a much happier life. I second guess just about everything I buy. I take the subway and not taxi's. (I have a friend who makes twice what I do and has nothing. He takes taxi's and eats out every meal except breakfast. I have the better life and a much nicer apartment, which I bargained the price down on! I have much more in my savings account than he does and I find that gives me extra pride.)

If I see something I like, I wait a few days in most situations to buy it. Generally, I forget about it, which means I did not need it. If it I did remember then I go back and buy it. I made a commitment one day to pay off the balance on my credit card and simply did so. Since then I have only revolved a balance 1 month. (That was to actually toss Cap One a bone and hopefully get a CLI.) Once I made that determination to change my habits all has been much better for me. I still use my credit cards, generally for every purchase I can. Instead of paying interest I collect rewards. We don't need to be rich to get the same treatmeant, we just need to be smart. My change in habits allowed me to go back to school and get another degree and save $20,000. I am confident that you can get where you want too! (Oh by the way, that MBA has gotten me a job offer at double my salary!) Good luck, garden for a bit longer. Get the temptation more later when you are really ready to get to the next level.

Thank you for you advice, I am actually the same way DH lost his job and we got a litlle backed up and relied on cc's to get us through tough spots. I coupon like crazy, staying put in the garden for a while longer!!

Re: Capital One Pre-qualified letter in the mail

Anonymous — Fri, 14 Jun 2013 03:10:04 GMT

my experience with the capitol one pre-approval letters....... they must just mass send. i litterally get 3-5 a week. sometimes 2 in one day. about a year ago i applied via the pre-approval letter, denied becuase of CH 7 discharged in 6/2004.

Re: Capital One Pre-qualified letter in the mail

myjourney — Fri, 14 Jun 2013 03:30:54 GMT

@ronstar7 wrote:
@myjourney wrote:
I read this entire thread ronstar

First let me add ..having that glass of wine while gardening was a very good idea..Bravo
Second since you are gardening it's the best time to work on those GW while increasing AAoA,Scores and reducing UTL.

All that being said I think you made the right choice to stay in the garden and enjoy those free drinks and I'll buy the first round Friday Night Lol
See you in the garden
P.S. More pre-approvals are forth coming in the mail and it's a direct results of your hard work so don't bite now wait on the one that's right for you!!!!!!!!!!

Thank you and that is exactly what I itend to do, I will have to get DH to shred the app for me as I cant bear to watch lol, gonna work hard and see what else comes my way. I checked my cr and saw that I actually applied to cap 1 5 months ago and got a decline so it would prob be the same now. No sense getting 3 pulls for nothing

Bravo on letting DH shred stay strong and place your drink order Friday