Cap One ITA - any point if no prequal?

[expatCanuck]

Greetings.  Received an ITA from Cap One for the Quicksilver.

Its prequal site shows preapproval only for Platinum and Quicksilver One (both have fees, so no interest in those products).

Two INQs in March.  Last new CC account in Jan; 2 in Oct.  Scores 812 (EQ), 814 (EX) and 829 (TU).  Aggregate CC util under 3%,

with 5 of 14 accounts (3 CC, mort, HELoan) reporting balances.  AAoA ~6.5 years.

Any point in following up on the ITA?

[Anonymous]

I don’t believe an ITA is anything but standard marketing. I never get ore-qualified for anything by Cap 1, but have managed numerous other approvals. Your stats look good enough for whatever you want. As always though, YMMV.

[pinkandgrey]

What’s the verbiage on the ITA? Does it list a solid APR? Does it say “preapproved”? Sorry this isn’t an answer, but it kind of depends on the mailer you got. 

[expatCanuck]

---

@pinkandgrey wrote:

What’s the verbiage on the ITA? Does it list a solid APR? Does it say “preapproved”? Sorry this isn’t an answer, but it kind of depends on the mailer you got. 

Good point. It's a range of APR's. I may phone and discuss with a rep, but I"m not gonna apply online if the prequal isn't there.

[Remedios]

That's all marketig and I would not because of the new accounts. Too soon, @expatCanuck 

[kdm31091]

Capital One isn't hesitant to decline even applicants with excellent scores/history these days - they have some type of 5/24 type of rule for their "good" cards. No one knows any specifics but they definitely aren't fond of new accounts and there is no recon.

If you aren't actually prequalified I would simply wait and avoid wasting the inquiries.

[coldfusion]

If a CapOne mailer has specific opt-out language it's a prequal.  If there is no opt-out language it's just marketing. C1 routinely uses both types of mailers.

If you're really interested try the online prequal, and if you decide to apply remember that they HP all 3 CRAs.

[Meanmchine]

Why give up 3 HPs for a blah 1.5% CB crd?

If it were me, Id app instead for Paypal 2% cash back.  Its a single pull TU and Synchrony gives faster upward CL movement than CapOne. Only reson I can see going Cap1 is if you wanted a lower APR, but then, why carry a balance on a CB card.  Unless you were trying for a $20k SL, Id go with Synchrony

Good luck