App spree gone horribly wrong

[Adkins]

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@MrDisco99 wrote:
So I’ve executed plan C.

I converted my Quicksilver, which has been living in the sock drawer for months, to a VentureOne. So no bonus but at least I’ll still get 10x on the hotel booking.

Making the best of it at least.

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That's an excellent alternative! 

[Anonymous]

sorry OP!

[BronzeTrader]

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@MrDisco99 wrote:
I submitted three apps today. First the setting:

FICO 8: 750 EX, 789 TU

Lots of new accounts on my reports but fairly clean in recent months... 19/24, 13/12, 1/6, 0/5

Each of the three agencies showed 4 inq in the last 12 months. Only one on EX was less than 6 months old (it was 4 months old).

Basically I’d been very well behaved over the last 5 to 6 months.

Edit to add util: Currently my Barclays Apple card shows a reported balance of $1900/$11,800 (deferred interest until 11/2019). My Synovus cash rewards reported $104/$9,000 and my BoA TR reported $17/$12,000. Everything else reported zero util. Not sure how much influence that would have if any.

Results:

Cap1 Venture - triple pull, instant denial

Frustrated by that, I went for my next choice card:

BoA Premium Rewards - EX pull, instant denial

So from there I went for what I hoped would be an easier win on a non-EX pull:

Barclays Uber - TU pull, no firm answer

I checked the app status online and it said I couldn’t be approved at this time. However last time I saw this they’d sent me a request for verification and approved me, so I’m hoping for that, but not too optimistic.

Edit to add: Called recon. It’s a straight up denial. They don’t like how many new accounts I have.

Lessons learned:

1. Underwriting on the C1V and BoA PR are no joke. If you look anything like a churner they will turn you away.

2. I am very much in CC purgatory. I may need to accept that it could be another 6 months to a year before I can get approved for a non-Amex rewards card that I actually want.

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No surprise that CC app spree failed.  Not the good way to go.  A lot folks here still love spreeing.

[joltdude]

Sorry Op,

Its just the current financial climate.. Theres a lot of tightening up and nerfing going on..... Least for awhile id go the low and slow route... Of all people I thought could pull this off.. it would be you..    The day of the 3+ app spree is gone for now.....

Good luck next time 

-J

[Anonymous]

I’m kinda in the same boat. I’m pre-approved for the Venture but don’t want to pull the trigger yet; I’m in the middle of working on a SUB on my new Amex HH. But CapOne denied me on a CLI request for my QS. I never saw the denial letter or email so I don’t know the reason. Just wondering if the pre-approval is a sure thing. The QS is sock-drawered with a zero balance; could be because I don’t use the card.

[SouthJamaica]

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@Anonymous wrote:
I’m kinda in the same boat. I’m pre-approved for the Venture but don’t want to pull the trigger yet; I’m in the middle of working on a SUB on my new Amex HH. But CapOne denied me on a CLI request for my QS. I never saw the denial letter or email so I don’t know the reason. Just wondering if the pre-approval is a sure thing. The QS is sock-drawered with a zero balance; could be because I don’t use the card.

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I'm not surprised by Barclays, since they are super sensitive to new inquiries, but I am surprised by Cap One and Bank of America. The only thing I can think of is that underwriting standards are tightening generally. Perhaps you should be thinking credit union for your next application.

[Anonymous]

So sorry for the outcome, OP. It's so hard to deal with sometime when we are anxious to add CL's. Take the time you need. Use your cards well and good things will happen.

[Anonymous]

OP did the Cap 1 pre-qual tool show you were pre-qualified or was it a blind app?

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@MrDisco99

[Anonymous]

I got approved for Bank of America Premium Rewards but I have had accounts with them for 20 years.  I was 24/24 when I applied and got instant approval. Contrary to what the Capital One employee on here says the Venture went 5/24 the day they increase the sign up bonus to 500 dollars.  

My recommendation is to do what I have been doing and switch to business cards. I got the Barclay Business Aviator and the Chase Business Marriott since the BOA Premium Rewards.  I have let my wife get the personal cards for a while.   I will probably get some Amex business cards next.   You can easily do a year of business cards and then switch back to personal cards once your personal report cleans up. 

[BronzeTrader]

Sorry for the denials.  Time to lay low and enojoy the gardening.

I think it gets harder and harder for CC app sprees to be successful.  After your first CC application, the HP (or 

SP) is noted very quickly.  Very likely the subsequent CC banks would see the new HPs on the same day.  This raises red flags for credit stress or fraud.