topic Re: What happens... in Credit Cards

What happens...

Andy77 — Fri, 27 Jun 2014 15:47:44 GMT

I checked my pre-approval status with Capital One and I am pre-approved for a Quick Silver with a 39.00 fee.

What were to happen if I apply for the Venture card ? Flat out decline ?

My credit is like in the middle...not bad not excellent..

EX 672

citi AA 12000.00

bofa 9000.00

barclays 6500.00

penfed 20000.00

1 % utiliaztion

bk from 2009 discharged

Re: What happens...

TheConductor — Fri, 27 Jun 2014 16:15:40 GMT

There's no guarantee, but with your score and low util, I think you'd have a good chance of getting the Venture if you go for it.

My score and available credit were about where yours are when I got the Venture. Income 110k. Past chargeoff on the books from HSBC, but reporting as Capital One.

So I didn't have the BK but I did have an old major derog. I like your odds.

Re: What happens...

Dw4250 — Fri, 27 Jun 2014 16:27:19 GMT

@Andy77 wrote:
I checked my pre-approval status with Capital One and I am pre-approved for a Quick Silver with a 39.00 fee.

What were to happen if I apply for the Venture card ? Flat out decline ?

My credit is like in the middle...not bad not excellent..

EX 672

citi AA 12000.00
bofa 9000.00
barclays 6500.00
penfed 20000.00

1 % utiliaztion

bk from 2009 discharged

Considering it's 3 HP for any Cap One card, I would maybe hold off for now. 672 is right on the border for approval, and you don't want to take 3 pulls and still end up with a denial

Have you thought about the Arrival + or CSP? They both have better reward structures than the Venture (IMO). I'm not sure what the CSP score req are, but I got the Arrival + with a TU score in the 680's at the time. Plus it's only one HP.

Re: What happens...

Andy77 — Fri, 27 Jun 2014 16:31:32 GMT

IT IS 3 HARD PULLS...ARE YOU SURE ??

i applied for the Venture (blue one) approved 20k

Re: What happens...

Dw4250 — Fri, 27 Jun 2014 16:40:24 GMT

@Andy77 wrote:
IT IS 3 HARD PULLS...ARE YOU SURE ??

i applied for the Venture (blue one) approved 20k

Yes unless Cap One has changed their policy recently, it's 3 HP (1 EX, 1 EQ, 1 TU) for every new application. But if you don't have too many on your report it shouldn't be a big deal. Cap One is always a calculated risk if you are trying to keep INQ down.

Congrats on the approval! The Venture is a great travel card.

Re: What happens...

CarnegieS — Fri, 27 Jun 2014 16:42:41 GMT

@Andy77 wrote:
IT IS 3 HARD PULLS...ARE YOU SURE ??

i applied for the Venture (blue one) approved 20k

Capital one pulls TU, EQ, and EX. They seemed to like what you had in your profile though if you managed to get approved for 20k! Congrats to you on your new card with an excellent limit!

Re: What happens...

Andy77 — Fri, 27 Jun 2014 17:12:55 GMT

Here is a strange thing that happend though...so not sure I am actually approved. When I applied a screen then popped up and said "Congradulations" you are approved for 20,000.00 and my apr is 20.9

I set up my log-in... BUT

When I called the 800 number to check on the status of my application (just because I am a little shocked they approved me for so much), the automated system said they were still reviewing it.

Do you think the two systems did not catch up (online and phone) and I am approved or do you think I could not after the fact be declined ?

So now I am nervous...

Re: What happens...

Andy77 — Fri, 27 Jun 2014 21:02:14 GMT

Do you all think I was approved despite the automated system not telling me I was ?

Re: What happens...

Dw4250 — Fri, 27 Jun 2014 21:14:49 GMT

@Andy77 wrote:
Do you all think I was approved despite the automated system not telling me I was ?

Interesting...I think you are probably fine. My guess is the CSR system and their automated system have not "spoken" to each other. In a large organization like Capital One, you may even be dealing with a 3rd party verification (hence the delay). I would check again tomorrow.

Good luck!

Re: What happens...

coldnmn — Fri, 27 Jun 2014 22:13:57 GMT

Wow! $20k for 3 hps Congrats on the Venture card!

Re: What happens...

Andy77 — Fri, 27 Jun 2014 22:17:22 GMT

I am very excited...but part of me thinks its too good to be true.....never knew I could get a 20k card with my bk only almost 5 years old. Although I have a 20k Amex with Penfed, but not a real bank.

Re: What happens...

Bman70 — Fri, 27 Jun 2014 22:19:11 GMT

At almost $7k per pull, I'd say that's worth it

And yes no doubt you're approved, if it said that initially. At first I couldn't get my Amex info on the phone either

Re: What happens...

Closingracer99 — Fri, 27 Jun 2014 22:21:09 GMT

At least they showed you it lol ... Citi said Error when i apped for the simplicity card and i went to app for it again... Finally decided to call and they told me i got approved

Re: What happens...

RCFL — Fri, 27 Jun 2014 22:21:17 GMT

@Andy77,
I bet you applied less than 2 days ago. I had the same worry as you. Applied Sunday, called the status like the next day and it says something about them received my application and are currently reviewing it. But I gather my guts and called the 1800 number and spoke to someone and that lady confirmed that I was indeed approved for 10k. And since then, when I called the status number, it said my application has been approved. So I guess you'll have to wait for at least 2 days for that to update. I see that account on my online banking already but can't set up yet, need to have the new account number. I also got an email from them yesterday that said they mailed out my Venture card already.