Cap One CLI Soft Pull using 2 month old info.

[smittyb]

I tried for a Cap One CLI a week ago... I got denied. I noticed in my denial letter the info they used was from Equifax in March.

It was a soft pull but from two months ago when I had a high balance on one of my cards before paying it off last month.

And it cited a balance was too high on credit or revolving charge. Had I known they used an older report I would have waited to apply.

Maybe this is common that they do that? I did not know and am just adding this in case it helps someone else.

I am guessing if I wait till next month the pull will update with April's numbers. Which will show I no longer have a high balance.

[Anonymous]

It's common with them. Earlier this month I asked and they used a SP from February.

[Anonymous]

You may need to wait a bit longer. My understanding is that capital one only does the soft pulls every couple or three months.

[Curious_George2]

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@Anonymous wrote:

It's common with them. Earlier this month I asked and they used a SP from February.

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I think this is a stupid question, with an obvious answer, but I'm gonna ask it anyway. If I get a version of my EQ credit report that shows SPs, then I can tell how fresh/stale is the report info that they use in processing my CLI request, right? (Obv. not if they pull it again between report issuance and CLI)

[smittyb]

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@Curious_George2 wrote:

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@Anonymous wrote:

It's common with them. Earlier this month I asked and they used a SP from February.

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I think this is a stupid question, with an obvious answer, but I'm gonna ask it anyway. If I get a version of my EQ credit report that shows SPs, then I can tell how fresh/stale is the report info that they use in processing my CLI request, right? (Obv. not if they pull it again between report issuance and CLI)

At one point in time, I worked for a large department store chain and I am pretty sure they had a database where they had pulled credit reports of people who had cards with them.  And when they went to look at your record they just referenced their database that they stored for X months at a time. So my hunch is in their case and maybe in Cap One's case that they never soft pull a report from a bureau, but instead just check their database with X months old credit info in it to make a decision.

[Anonymous]

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@smittyb wrote:

I tried for a Cap One CLI a week ago... I got denied. I noticed in my denial letter the info they used was from Equifax in March.

It was a soft pull but from two months ago when I had a high balance on one of my cards before paying it off last month.

And it cited a balance was too high on credit or revolving charge. Had I known they used an older report I would have waited to apply.

Maybe this is common that they do that? I did not know and am just adding this in case it helps someone else.

I am guessing if I wait till next month the pull will update with April's numbers. Which will show I no longer have a high balance.

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As fad as I have seen they pull quarterly, so every 3 months.

They SP me in April, so my next SP from them will be in July. I am waiting to ask for a cli from them until then because my scores have gone up quite a but from April.

Good luck!

You can check your CRs weekly from annual credit reporr to see how often and when they SP your credit to get an idea of how frequently and when to expect the next SP.

[Meanmchine]

It was a SP so no harm done.  Try again next month and let s know the results