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Am I out of luck with capital one??? And weird credit score

folks19
Frequent Contributor

Am I out of luck with capital one??? And weird credit score

I just filled out the pre approved on c1's website and I got denied for the following reason:

  • Based on your credit report from one or more of the agencies below, there are too many new revolving accounts

I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

 

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.

11 REPLIES 11
AllZero
Super Contributor

Re: Am I out of luck with capital one??? And weird credit score


@folks19 wrote:

I just filled out the pre approved on c1's website and I got denied for the following reason:

  • Based on your credit report from one or more of the agencies below, there are too many new revolving accounts

I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

 

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.


839 appears to be a Transunion FICO 4 score.

 

Perhaps, wait at least 6 months if not longer and try the pre-qualification site in the future to see if you have any offers before actually applying?

Message 2 of 12
FinStar
Moderator

Re: Am I out of luck with capital one??? And weird credit score

As suggested upthread as far as gardening, of the 8 credit cards, how many of those did you open in the past 12 months?

Message 3 of 12
Ficoproblems247
Valued Contributor

Re: Am I out of luck with capital one??? And weird credit score


@AllZero wrote:

@folks19 wrote:

I just filled out the pre approved on c1's website and I got denied for the following reason:

  • Based on your credit report from one or more of the agencies below, there are too many new revolving accounts

I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

 

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.


839 appears to be a Transunion FICO 4 score.

 

Perhaps, wait at least 6 months if not longer and try the pre-qualification site in the future to see if you have any offers before actually applying?


+1 to them using TU FICO 4, and +1 to them being new account sensitive. I tested this myself last fall when I crossed the 6 months since new account mark. I have no interest in another Cap1 card, just wanted to confirm DPs I had been reading about them. When I tried the pre-approval site before my new accounts turned 6 months it was no dice. Reasons they gave were new accounts and number of inqs. I tried again after 6 months and had instant pre-approval. Now to add another +1 to Finstars advice to garden. If you have 8 open cards, why are you going for a Cap1 card? Unless it's the Venture or Savor and looking for a nice SUB. 


FICO 8 May '21: EX 751 EQ 746 TU 743
"Friends don't let friends earn 1% cash back."
Message 4 of 12
folks19
Frequent Contributor

Re: Am I out of luck with capital one??? And weird credit score

@Ficoproblems247 I'm interested in the sign up bonus.

 

Small update: I checked the pre approval again, and this time I got pre approved for the secured card... 8 cards and a 740 FICO...

The interesting part is that I was denied for the secured card a while back when I was building.

Message 5 of 12
sarge12
Valued Contributor

Re: Am I out of luck with capital one??? And weird credit score


@AllZero wrote:

@folks19 wrote:

I just filled out the pre approved on c1's website and I got denied for the following reason:

  • Based on your credit report from one or more of the agencies below, there are too many new revolving accounts

I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

 

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.


839 appears to be a Transunion FICO 4 score.

 

Perhaps, wait at least 6 months if not longer and try the pre-qualification site in the future to see if you have any offers before actually applying?


Also keep in mind that Capital One will do a triple pull, resulting in an inquiry at all 3 CBA's.

TU fico08=831 03/29/21
EX fico08=830 04/13/21
EQ fico09=840 04/01/21
EX fico09=828 04/03/21
EQ fico bankcard08=858 03/23/21
TU Fico Bankcard 08=862 03/29/21
EQ NG1 fico=802 01/21/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 6 of 12
MrZero
Regular Contributor

Re: Am I out of luck with capital one??? And weird credit score

The triple pull and out of date info I was provided/read is what made me regret getting CapOne's secured card. Also why I kind of lost interest in applying for Savor at some point. 

 

IMO they're one you really have to consider if the pulls are worth it, especially while building or rebuilding. 

Updated 3/15/21.



Total Inquiries: EX: 3|TU: 4|EQ: 2
Derogs: 0
AAoA: 3 years on EQ, 4.5 on EX/TU.
AoOA: Not counting AU 1Y3Mo.
AoYA: Opened 7/10/20.
Total CL: 21,900
Utilization: ~3%

Message 7 of 12
ComeBackLady
Established Contributor

Re: Am I out of luck with capital one??? And weird credit score


@sarge12 wrote:

@AllZero wrote:

@folks19 wrote:

I just filled out the pre approved on c1's website and I got denied for the following reason:

  • Based on your credit report from one or more of the agencies below, there are too many new revolving accounts

I have 8 credit cards. Am I out of luck for a capital one card? Or will this go away soon? My most recent card was opened 2 months ago.

 

I also noticed that the score there provided me with wasn't the regular FICO score. It's a score that goes from 309 until 839. The source for the score was Trasunion Consumer Relations. Anyone ever heard of this score? I thought the big banks all use FICO.


839 appears to be a Transunion FICO 4 score.

 

Perhaps, wait at least 6 months if not longer and try the pre-qualification site in the future to see if you have any offers before actually applying?


Also keep in mind that Capital One will do a triple pull, resulting in an inquiry at all 3 CBA's.


Eek. Good to know. 🙏🏻

Starting Score: June 2020: 502
Current Score: EX: APR 11 - 682,
APR 19 - EQ: 668, APR 26 - TU: 673
FICO: 668

Goal Score: Good: 670 by May ✅. By JUN 675✅,
Come on 680 across all 3, 690’s by JUN. Over 700 in 2021, ideally 725+, 805 LT

TCL: JUN 2020 $700, APR 2021 $7450

AAoA 1 YR 6 Months AoYA 7 weeks
2021 Goal Cards: NAFs and $5K CL’s







Bank and Credit Union Memberships:

Take the myFICO Fitness Challenge


Message 8 of 12
Ficoproblems247
Valued Contributor

Re: Am I out of luck with capital one??? And weird credit score

@folks19 thank you for updating with DPs, thats great info. I know you said you have 8 open accounts, and that the most recent was from 2 months ago, but could you tell us how many you have opened within the last 6 months, and the last 12 months? Those specifics could be super helpful for other members asking the same questions. This may mean that Cap1 is loosening up a bit on new apps with cards opened under 6 months now. Thank you for you input, always much appreciated! 


FICO 8 May '21: EX 751 EQ 746 TU 743
"Friends don't let friends earn 1% cash back."
Message 9 of 12
ImTheDevil
Community Leader
Super Contributor

Re: Am I out of luck with capital one??? And weird credit score

For DPs and giggles, I just ran a prequal. Scores and UTI in sig below. Account-wise I am:

 

1/3

5/6

6/12

 

They offered me a secured card lol. No interest in apping with them anyhow as I am not in the least impressed with anything they offer. I did it for the DPs for those looking. Hope it helps someone.



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Message 10 of 12
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