topic Re: GM World Elite MC INSTANT Denial from Capital One in Credit Cards

GM World Elite MC INSTANT Denial from Capital One

newUser0 — Fri, 20 Dec 2013 05:51:55 GMT

Hello Team,

I have applied for the Capital one GM Card 2 hours back and got a denail message instantly.

Do you think I can recon on this? If yes, what are my chances to get this one.

I have got a detailed denail letter (online) to show you all. Unfortunately, I am not able to insert a pic to this post.

Re: GM World Elite MC INSTANT Denial from Capital One

indiolatino61 — Fri, 20 Dec 2013 05:56:36 GMT

@newUser0 wrote:
Hello Team,

I have applied for the Capital one GM Card 2 hours back and got a denail message instantly.

Do you think I can recon on this? If yes, what are my chances to get this one.

I have got a detailed denail letter (online) to show you all. Unfortunately, I am not able to insert a pic to this post.

Generally speaking, since you already took the HP, it can never hurt to recon. You can always write out the denial reasons so we can assist you further. Good luck.

Re: GM World Elite MC INSTANT Denial from Capital One

myjourney — Fri, 20 Dec 2013 05:57:15 GMT

What was the reason for denial and you could always copy and paste the letter here

Re: GM World Elite MC INSTANT Denial from Capital One

FinStar — Fri, 20 Dec 2013 05:59:05 GMT

Worse case scenario, you could end up with a $500 CL. There was someone not long ago who got instand approval for $500 (granted it's YEMV and his profile was way different that yours I'm sure) but don't be surprised - you're dealing with Capital One which doesn't have a good track record on reconsiderations like Chase or BOA.

Re: GM World Elite MC INSTANT Denial from Capital One

newUser0 — Fri, 20 Dec 2013 06:05:31 GMT

Here is the copy of the Decision I got from them instantly. I really wonder, If it even thought about my App. The decision quickly flashed up on the screen.

Thank you for applying. Unfortunately, Capital One, N.A. is unable to approve your application at this time.
Reference Number: 222XXXXXXXXXXXXX

In response to your application for a The GM Card credit card account issued by Capital One, N.A.
Unfortunately Capital One, N.A. is unable to approve your application at this time.
The follow ing credit score w as used as part of the decision-making process. The credit score is a number that reflects the information in
your credit report. This credit score can change, depending on how the information in your credit report changes.

Your Score: 571.
The Score ranges from a low of 118 to a high of 796.

Date the Score w as obtained: 12192013.
The reasons for the score are:
NUMBER OF INQUIRIES WITHIN LAST 6 MONTHS
NUMBER OF TRADES
NUMBER OF BANKCARD ACCOUNTS OPEN RECENTLY
LENGTH OF TIME BANK/NATIONAL REVOLVING ACCOUNTS HAVE BEEN Established

Our decision w as based in w hole or in part on information provided by a consumer-reporting agency. The consumer-reporting agency
played no part in our decision and is unable to provide specific reasons for our decision. You have a right under the Fair Credit Reporting
Act to know the information contained in your credit file at the consumer-reporting agency. You also have the right to receive a copy of
your credit report at no charge. To do so, please contact the agency listed below w ithin 60 days of receipt of this letter:
Equifax Information Services, LLC
P.O. Box 740241
Atlanta, GA 30374
(800) 685-1111
You have the right to dispute inaccurate or incomplete information in your credit report by contacting the consumer reporting agency
directly. If your credit file contains incorrect information or if your situation changes, please send us a copy of the revised credit report
and w e w ill be happy to re-evaluate your request.
If you w ould like the specific reasons w hy your application w as declined, please contact a Lending Services representative at 1-800-
685-9000 w ithin 60 days of your receipt of this letter. We w ill provide you w ith the reasons w ithin 30 days after receiving your request.
Please note that you w ill need the reference number indicated above w hen you call.
If you provided a secured deposit, payment, or processing fee, your funds w ill be returned to you under separate cover.
Sincerely,
Lending Services Department
CDM505o
Equal Credit Opportunity Act Notice
The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color,
religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or
part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right
under the Consumer Credit Protection Act. The federal agency that administers compliance w ith this law concerning this creditor is the
Office of the Comptroller of the Currency, Customer Assistance Group, 1301 McKinney Street, Suite 3450, Houston, TX 77010-9050.

Re: GM World Elite MC INSTANT Denial from Capital One

FinStar — Fri, 20 Dec 2013 06:12:08 GMT

Your Score: 571.
The Score ranges from a low of 118 to a high of 796.

So, it appears your score was roughly above average but not high enough on the scale that they provided (internal). Admittedly, they point out some reasons that impacted scoring.

Re: GM World Elite MC INSTANT Denial from Capital One

newUser0 — Fri, 20 Dec 2013 06:30:13 GMT

Actually I got a lot of HP in Equifax because , I have HP for app like charles schwab, capital one 360 etc. I was wondering, If I could justify this to them and recon my App.

Re: GM World Elite MC INSTANT Denial from Capital One

09Lexie — Fri, 20 Dec 2013 06:32:21 GMT

How many bank cards /new accounts opened?

Re: GM World Elite MC INSTANT Denial from Capital One

newUser0 — Fri, 20 Dec 2013 06:36:47 GMT

2 - Amex Delta and Chase Freedom

Re: GM World Elite MC INSTANT Denial from Capital One

09Lexie — Fri, 20 Dec 2013 06:41:23 GMT

@newUser0 wrote:
2 - Amex Delta and Chase Freedom

What other cc's do you have open?

Re: GM World Elite MC INSTANT Denial from Capital One

FinStar — Fri, 20 Dec 2013 06:45:12 GMT

@09Lexie wrote:
@newUser0 wrote:
2 - Amex Delta and Chase Freedom
What other cc's do you have open?

How many total inquiries in the last 6-12 months on EQ?

Re: GM World Elite MC INSTANT Denial from Capital One

newUser0 — Fri, 20 Dec 2013 16:43:51 GMT

Just a brief on my background.

I have following cards open -

1) bank of America (400CL) (Open Since From 1 Year 3 Months)

2) Wells Fargo (300CL) (Opened in Last 6 Months)

3) US Bank (1000CL) (Opened in last 8 Months)

4)Discover (1000CL) (1 Year 2 Mon)

I might have around 8-9 HP on EQ.

Re: GM World Elite MC INSTANT Denial from Capital One

Anonymous — Fri, 20 Dec 2013 16:53:54 GMT

@indiolatino61 wrote:

Generally speaking, since you already took the HP, it can never hurt to recon.

This is said a lot here and I don't know why! A significant portion of the time, depending on the issuer, a recon will result in an additional HP. Given that the implication is that the original HP had a cost (since you already...), there is a cost associated with recon. So it really depends on how likely you think that the recon will give you what you want, given that you already have been denied.

Re: GM World Elite MC INSTANT Denial from Capital One

FinStar — Fri, 20 Dec 2013 17:07:32 GMT

@newUser0 wrote:
Just a brief on my background.

I have following cards open -

1) bank of America (400CL) (Open Since From 1 Year 3 Months)
2) Wells Fargo (300CL) (Opened in Last 6 Months)
3) US Bank (1000CL) (Opened in last 8 Months)
4)Discover (1000CL) (1 Year 2 Mon)

I might have around 8-9 HP on EQ.

I would echo longtimelurker's comment as well. Plus, there may be additional HPs if they decide to process the reconsideration - with no guarantee of approval.

OP - chances will be slim at best given the information you've shared, seems like AAoA is fairly short and there's been a recent set of new TLs added, not too mention the inquiries - which are all given as reasons on the letter.

Re: GM World Elite MC INSTANT Denial from Capital One

newUser0 — Fri, 20 Dec 2013 17:11:34 GMT

I totally agree with your views.

But, I don't know if Capital one Made 3 HP for this App. I dont have any active subscriptions with CB to check the alert.

I really feel bad if they rejected me after 3 HP ....

Re: GM World Elite MC INSTANT Denial from Capital One

FinStar — Fri, 20 Dec 2013 17:19:44 GMT

@newUser0 wrote:
I totally agree with your views.

But, I don't know if Capital one Made 3 HP for this App. I dont have any active subscriptions with CB to check the alert.

I really feel bad if they rejected me after 3 HP ....

Based on the letter they provided you, it appears only 1 CRA was accessed. The main point being conveyed is that if you decide to go the reconsideration route, they may likely HP alternate ones.

Re: GM World Elite MC INSTANT Denial from Capital One

Kenny — Fri, 20 Dec 2013 17:22:44 GMT

Time to garden and work on SP CLIs not opening new trade lines right now.

Re: GM World Elite MC INSTANT Denial from Capital One

09Lexie — Fri, 20 Dec 2013 17:27:37 GMT

@FinStar wrote:
@newUser0 wrote:
I totally agree with your views.

But, I don't know if Capital one Made 3 HP for this App. I dont have any active subscriptions with CB to check the alert.

I really feel bad if they rejected me after 3 HP ....
Based on the letter they provided you, it appears only 1 CRA was accessed. The main point being conveyed is that if you decide to go the reconsideration route, they may likely HP alternate ones.

The Letter indicates one source - I would be surprised if they did not pull the other two.

Re: GM World Elite MC INSTANT Denial from Capital One

newUser0 — Fri, 20 Dec 2013 17:32:46 GMT

Time to GARDEN...........7 Out of 8 HP in my EQ is due to be cleared on July 2014.

Is there any way i can check the alert for free??

Re: GM World Elite MC INSTANT Denial from Capital One

09Lexie — Fri, 20 Dec 2013 20:25:33 GMT

@newUser0 wrote:
Time to GARDEN...........7 Out of 8 HP in my EQ is due to be cleared on July 2014.

Is there any way i can check the alert for free??

Credit Seasame alerts to changes on Experian

Credit Karma alerts to changes on Equifax