Hello everyone. I was browsing preapprovals and got matched for one of my most wanted travel cards.. the cap one venture rewards.. submitted the app now cap one is asking for all types of documents. I submitted my tax return, photo ID and phone bill… I’m curious.. I know my scores aren’t the best.. I need to update them but I’m 680+ across all three… but I’m wondering how often these document requests work out. Any experiences? Thanks
@Wls170 wrote:Hello everyone. I was browsing preapprovals and got matched for one of my most wanted travel cards.. the cap one venture rewards.. submitted the app now cap one is asking for all types of documents. I submitted my tax return, photo ID and phone bill… I’m curious.. I know my scores aren’t the best.. I need to update them but I’m 680+ across all three… but I’m wondering how often these document requests work out. Any experiences? Thanks
they most likely wouldn't have asked if they didn't want to approve you, assuming they can verify you, you should be good
do you report a higher than average income, wonder if that triggered Cap1 to ask for tax returns
@GZG wrote:
@Wls170 wrote:Hello everyone. I was browsing preapprovals and got matched for one of my most wanted travel cards.. the cap one venture rewards.. submitted the app now cap one is asking for all types of documents. I submitted my tax return, photo ID and phone bill… I’m curious.. I know my scores aren’t the best.. I need to update them but I’m 680+ across all three… but I’m wondering how often these document requests work out. Any experiences? Thanks
they most likely wouldn't have asked if they didn't want to approve you, assuming they can verify you, you should be good
do you report a higher than average income, wonder if that triggered Cap1 to ask for tax returns
I reported my wife and my income which is right around 200k..
didn't feel like digging out the wife's paystubs soni just submitted last years return
@coldfusion wrote:680+ can get it done, just expect that if approved the APR would probably be toward the high end of the range.
Did they agree to accept a copy of your tax returns in lieu of paystubs to show household income or did you decide on your own to just send them instead? There's a potentially useful data point to be had here.
Yes. I'm pretty sure I was flagged for income verification.. I called today and the rep basically said my tax return was enough to verify income. The options were paystubs, bank statements or tax returns basically.
@JoeRockhead wrote:Sometimes it's just simply a verification thing which is fairly common with certain lenders like BoA for new customers for example, or can be triggered by a specified internal threshold, for instance someone stating a high income coupled with lower scores where they want to verify Identity and income. Best of luck!
This is in line with what the rep was telling me... I have two other cap one cards but they are bucketed and currently below $1000 cl... I did just get a whopping $100 increase in my QS 🤣
@Wls170 wrote:
@JoeRockhead wrote:Sometimes it's just simply a verification thing which is fairly common with certain lenders like BoA for new customers for example, or can be triggered by a specified internal threshold, for instance someone stating a high income coupled with lower scores where they want to verify Identity and income. Best of luck!
This is in line with what the rep was telling me... I have to other cap one cards but they are bucketed and currently below $1000 cl... I did just get a whopping $100 increase in my QS 🤣
Congrats on your CLI. Least you got one the way its been.
@Wls170 wrote:
@Wls170 wrote:Hello everyone. I was browsing preapprovals and got matched for one of my most wanted travel cards.. the cap one venture rewards.. submitted the app now cap one is asking for all types of documents. I submitted my tax return, photo ID and phone bill… I’m curious.. I know my scores aren’t the best.. I need to update them but I’m 680+ across all three… but I’m wondering how often these document requests work out. Any experiences? Thanks
Hello everyone. I was browsing preapprovals and got matched for one of my most wanted travel cards.. the cap one venture rewards.. submitted the app now cap one is asking for all types of documents. I submitted my tax return, photo ID and phone bill… I’m curious.. I know my scores aren’t the best.. I need to update them but I’m 680+ across all three… but I’m wondering how often these document requests work out. Any experiences? Thanks
update for possible data points...
haven't gotten a "decision" yet however Cap One rep informed me these types of documents may become requested more often in the future. Cap One seems to be moving in this direction according to them to prevent what he described as increased identity fraud. This makes sense because I called the number in the email they sent me asking for the documents and the rep that answered said I had reached the fraud department.
Allegedly they take all the requests and put them in a que.. it takes roughly two days for them team to work through an individual que of applications..
in my particular case for whatever reason my household income threw up a red flag in their system even though this is the same info I've used all year when requesting a CLI.. strange..
Still have no idea if I will be approved or not. Anytime there isn't an "instant approval" I get nervous. Especially if it involves 3 HPs but I will update eventually when I get a decision.