CapOne Platinum

[Anonymous]

Just app'd for CapOne Platinum after reading some posts on here and got this message:

Thank you for your interest.
Unfortunately, we can't approve you for this card today. Recognizing this wasn't the answer you were looking for, we will be sending a detailed email or letter within 7-10 business days to help you understand why.

Is this a flat out denial or a need for review? I looked at their pre screened offers page and they recommended I app for this one :/

EX: 627 TU: 617

[Anonymous]

Anyone think this is true?

https://www.creditkarma.com/question/has-anyone-waited-7-10-days-to-be-approve-for-a-credit-card

[Anonymous]

It's a denial but you can call them and try to get the app reconsidered. When you apply online Cap Ones algorithm determines approval. When you call in to try and get the app reconsidered you have a human who is actually looking at the app.

I don't have any reconsideration numbers for any banks but searching myfico forums and you're almost guaranteed to find them.

[Anonymous]

That is Capital One's flat-out denial response. What you're getting in 7-10 days is a formal letter explaining their decision. If it said we'll let you know in 7-10 days what decision we've come to or something of that nature, that would be a review.

Can you provide more information as to what's in your report so we could get the full story and give better advice?

[Anonymous]

Just checked my FICO from the new Discover Secured Card. In the app it says 630 FICO as of 8/12. CK shows 627 EX and 617 TU last updated 8/9.

Baddies -

$250 - 2014
$150 - 2011
$1800 - $2011 CO from Wells Fargo
$500 2013
$500 2012

I'm an AU on 3 Credit Cards totaling $8,000 CL

I've had some student loans since 2012 it shows for them 320 on time payments. So Credittrackers give me an A+ in payment history.

Opened around 8/2 a secured PL and a Discover Secured card $400 CL.

Also app'd for CapOne secured and was put in pending status pending an income verification which I sent in a few days ago. But shortly after the app I noticed I'd probably qualify for their unsecured according to CK and many forums so after careful thought I figured why not apply tonight. Prior to the app I contacted CapOne and asked if they could switch my app to the Platinum Card but they said no and told me I could apply for the Platinum Card though so that's what I did.

Thoughts? This is the only unsecured card I've applied for in the last 6 years.

[Anonymous]

Hate to say it bro but it looks like a denial. Any more info on your credit history? AAoA, credit lines, any collection etc etc

-edit-

I'd say most importantly you should start working on those baddies first. Try to see if you can do a Pay For Delete, Goodwill letter and get those removed from your report. Having secured credit cards can only do so much with all those baddies weighing you down. Also Credit Karma's approval odds aren't always the most accurate either but YMMV

[Anonymous]

AAoA is 5 years 5 months

[Anonymous]

The worst one is set to come off I think 9/2018 but asking for early exclusion in 3/2018.

I've been told since their pretty old they've lost most of their sting is that incorrect?

[Anonymous]

I've read of some success stories where baddies that were close to falling off were dispusted as "this account is old/age, please remove" via transunion and such and were suprised to see them removed. If your baddie is close to 7 years you could A: wait for it to fall off or B: attempt a dispute since its so close and see if they could remove it, but be careful do NOT admit ownership of the debt nor pay it outright. That could easily reset the clock for that baddie.

[Anonymous]

I think initiating a dispute may verify the debt then they would update it in their system if it gets verified which will really hurt my score. At least that's what a CSR at a CU I opened the secured PL with told me.

Do you think a recon will work or no chance?