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Capital One - Denied due to previous app

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Capital One - Denied due to previous app

Received a prequalified mailer from CapOne for the unsecured Platinum card this week, so I decided to give it a shot. I got an instant denial, with a note that I would receive an email or letter explaining the decision.

 

Today, I got the email and the reason stated was "Based on your application information, there is a currently pending or recently processed application with Capital One."

 

I was approved for their Secured Card in early November, and I got preapproved for an auto loan earlier this month... but no other applications besides those two. How often does Capital One want to see applications? I thought I had seen posts in the forum of some people getting Platinum and QS cards in quick succession... am I missing something?

 

Thanks in advance!


Starting Scores (Nov 2018)
Current Scores (Jan 2019)
Message 1 of 8
7 REPLIES 7
New Contributor

Re: Capital One - Denied due to previous app

I believe at Capital One, you can only open 1 new credit card account every 6 months.

Last Inquiry 8/29/2019 (Apple Card approved $8,500.00)
Fico Score Progression :
10/1/2018 EQ 530 TU 535 EX 540
12/16/2018 EQ 630 TU 621 EX 636
12/27/2018 EQ 639 TU 628 EX 634
6/6/2019 EQ 626 TU 565 EX 614
7/17/2019 EQ 644 TU 641 EX 678
8/10/2019 EQ 650 TU 757 EX 684
9/5/2019 EQ 669 TU 806 EX 712
In the garden till 3/1/2020
Message 2 of 8
Senior Contributor

Re: Capital One - Denied due to previous app

Above poster is correct. One app and even SP CLI every 6 months.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 3 of 8
Regular Contributor

Re: Capital One - Denied due to previous app

What about those who open plat and QS1 at the same time? I'm with the OP I could have sworn I saw people get both at same time.
Message 4 of 8
Senior Contributor

Re: Capital One - Denied due to previous app

That changed last year when they went to an app every 6 months. I was able to grab 3 in a year in early-mid 2017 I think it was.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 5 of 8
Member

Re: Capital One - Denied due to previous app

Got it... thanks for the answer! 


Starting Scores (Nov 2018)
Current Scores (Jan 2019)
Message 6 of 8
Valued Member

Re: Capital One - Denied due to previous app

his question is a little off topic, but when did you get the Wayfair credit card? Do you mind revealing what your scores were when you got the credit card? I'm moving and would like a new headboard. Wayfair is the way to go, and the headboard is under $400.

Message 7 of 8
Member

Re: Capital One - Denied due to previous app


@Rad_Blk_Guy wrote:

his question is a little off topic, but when did you get the Wayfair credit card? Do you mind revealing what your scores were when you got the credit card? I'm moving and would like a new headboard. Wayfair is the way to go, and the headboard is under $400.


I got the Wayfair card in early-December, so I would guess my scores were somewhere between the 2 scores below in my signature (unless I had some MAJOR fluctuation between Nov and now...)

 

If you follow the SCT (shopping cart trick), you'll know beforehand if you're preapproved for the card. Just beware, the SCT is no longer a soft-pull for approval - you will get a hard pull inquiry (on Equifax I believe). It sounds like you are willing to get the inquiry to get a new headboard, so maybe that's not important. Just something to be aware of...

 

Hope that helps!


Starting Scores (Nov 2018)
Current Scores (Jan 2019)
Message 8 of 8
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