Cap one preapproved, then declined for Savor One - Any chance at recon?

[Ltown81]

I have been rebuilding my credit after a financial meltdown a few years back. Before the meltdown I had several cars with 10-20K limits and My credit score currently floats in the mid to high 600's only because of stuff from 4-5 years ago. In the last year I have been able to get Discover IT, Capital One Walmart Card, Apple Card, and two Truist cards all with limits of $2000-$3000. Despite consistantly paying these cards off every month and all of my credit for the last few years being spotless, I have only gotten one CL increase on these cards of $250 from Apple.

I have tried to get a CL on the CAP ONE walmart card and was declined because of "negtive accounts"..meaning the old stuff.

I checked the cap on preapproval page and it offered me three cars. The Platinum car, the Quick SIlver card, and the SavorOne for good credit. I pulled the trigger on the savor one because it had the best rewards I could see. Of course after submitting the app from the preapproval it declines me.

Does cap one have a reconsideration line? Has anyone had success?

[Jnbmom]

cap one does not recon .

Sorry for your denial 

[Ltown81]

Is it common for them to preapprove then deny? I thought their preapproval was pretty solid.

[Jordan23ww]

Sorry to hear about your denial! 

[christine123]

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@Ltown81 wrote:

I have been rebuilding my credit after a financial meltdown a few years back. Before the meltdown I had several cars with 10-20K limits and My credit score currently floats in the mid to high 600's only because of stuff from 4-5 years ago. In the last year I have been able to get Discover IT, Capital One Walmart Card, Apple Card, and two Truist cards all with limits of $2000-$3000. Despite consistantly paying these cards off every month and all of my credit for the last few years being spotless, I have only gotten one CL increase on these cards of $250 from Apple.

I have tried to get a CL on the CAP ONE walmart card and was declined because of "negtive accounts"..meaning the old stuff.

I checked the cap on preapproval page and it offered me three cars. The Platinum car, the Quick SIlver card, and the SavorOne for good credit. I pulled the trigger on the savor one because it had the best rewards I could see. Of course after submitting the app from the preapproval it declines me.

Does cap one have a reconsideration line? Has anyone had success?

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I am So sorry to hear. cap one is usually fool proof when it comes to preapproval. 

[christine123]

I

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@Ltown81 wrote:

Is it common for them to preapprove then deny? I thought their preapproval was pretty solid.

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it is pretty solid.. totally surprised 

[nytokyobred79]

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@Ltown81 wrote:

I have been rebuilding my credit after a financial meltdown a few years back. Before the meltdown I had several cars with 10-20K limits and My credit score currently floats in the mid to high 600's only because of stuff from 4-5 years ago. In the last year I have been able to get Discover IT, Capital One Walmart Card, Apple Card, and two Truist cards all with limits of $2000-$3000. Despite consistantly paying these cards off every month and all of my credit for the last few years being spotless, I have only gotten one CL increase on these cards of $250 from Apple.

I have tried to get a CL on the CAP ONE walmart card and was declined because of "negtive accounts"..meaning the old stuff.

I checked the cap on preapproval page and it offered me three cars. The Platinum car, the Quick SIlver card, and the SavorOne for good credit. I pulled the trigger on the savor one because it had the best rewards I could see. Of course after submitting the app from the preapproval it declines me.

Does cap one have a reconsideration line? Has anyone had success?

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Did anything change in your credit reports between the time you received the pre-approval and submitted the actual app? Perhaps, that pre-approval was based on an older soft pull and something changed in your profile when you app'd. All speculation but trying to think what may have impacted the denial. Sorry to hear about this and I do hope that you can get the card in the near future. Best of luck with the rebuild. 

[OmarGB9]

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@Ltown81 wrote:

Is it common for them to preapprove then deny? I thought their preapproval was pretty solid.

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Not common, but still possible. A prequalification isn't a guarantee of approval.