Capital One Denial Letter... Joke?

Anonymous · ‎03-02-2015

I was denied because too many inquiries (they're all loan shopping ones)

And my score they gave me is literally 45 points lower then the one on here.

What the hell?

mikelo22 · ‎03-02-2015

@Anonymous wrote:
I was denied because too many inquiries (they're all loan shopping ones)

And my score they gave me is literally 45 points lower then the one on here.

What the hell?

I can only speculate since I have never apped for CapOne. But perhaps they use the FICO 04 model instead of the 08? That could account for your lower score. As for the INQ's, that is indeed strange. Usually those types of INQ's are combined (since you were just shopping around).

Anonymous · ‎03-02-2015

I spoke to someone from their office and was told the computer denied it and the reason is scores...

They use the newer model BUT their reports are from 30 days ago so say today I have a 717 vs the 650 I had 30 days ago (collections were being reported).

Odd though because I got a chase card with a good limit yesterday.

Do all banks do this even though the "pull" should be most recent info...?

chalupaman · ‎03-02-2015

@Anonymous wrote:
I spoke to someone from their office and was told the computer denied it and the reason is scores...

They use the newer model BUT their reports are from 30 days ago so say today I have a 717 vs the 650 I had 30 days ago (collections were being reported).

Odd though because I got a chase card with a good limit yesterday.

Do all banks do this even though the "pull" should be most recent info...?

I know Penfed will use the same HP in the last 90 days and I'm sure there are other banks that have done something like that before.

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down

Anonymous · ‎03-02-2015

Well, thats silly

You get a hard inquiry for a credit report thats not most recent?

CreditCuriosity · ‎03-02-2015

They use 04 model is what I heard.. I don't think the CSR knows what they are talking about.

Anonymous · ‎03-02-2015

@Anonymous wrote:
Well, thats silly

You get a hard inquiry for a credit report thats not most recent?

You didn't get one hard inquiry, but 3 of them

Anonymous · ‎03-02-2015

@CreditCuriousity wrote:
They use 04 model is what I heard.. I don't think the CSR knows what they are talking about.

They definitely don't use FICO 08

Anonymous · ‎03-02-2015

I've been getting just one from them actually (I don't know why... Lucky I guess?

Anonymous · ‎03-02-2015

I thought Capital One always pulled all three bureaus? It's one of the things they get castigated for around here (and rightfully so).