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Capital One Denied

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Regular Contributor

Capital One Denied

Hi,

 

This is my 3rd time getting denied for Cap 1's Student Journey card. I tried responding them to reconsider the second time with no luck, so I need some help of how I'll respond.

 

This is the only bullet they put on the denial reasons:

- Based on your credit report from one or more of the agencies on the back of this letter, income is insufficient for requested credit

 

Fico 3 Score: EX 679

Red Facts:

- Length of time account

- Time since most recent account open

- Too many accounts w/ balance

- Too many inquiries last 12 months

 

My income is $5772. It would be more but I am a full-time college student. 

 

 

So at the moment, I honestly got no idea of what should I write back to them to reconsider because they pretty much denied me on the income (same income I put on Discover's student and was approve).

Michigan Schools & Gov't Credit Union Classic Visa Card | $3kDiscover Student Cash Back | $2300Capital One Savor Card v1 | $11k AUAmex 1.5% CB | $2kBest Buy Store Card | $3k

July 2018
Ford Credit Loan $199.26/month (3 yrs)
January 2019
Discover Cash it Card $500
Michigan Schools and Gov't CU Card $1,000
February 2019
Self Lender Loan (Closed July 2019)
May 2019
Discover CLI $1.2k
July 2019
Discover System CLI $600
Amex $2,000
Best Buy Store Card $3,000
October 2019
MSGCU CLI $2k

Eyes on Credit Cards
BoA Cash Rewards (with or without Student Verison)Gas Card with 5% Cashback w/ no AF2% Cashback EverythingDining & Entertainment Category Card
Message 1 of 18
17 REPLIES 17
Frequent Contributor

Re: Capital One Denied

To the best of my knowledge, there isn’t much luck to be had with Capital One recons. They operated on auto-pilot and if the system spits out a denial they don’t overturn it. I wouldn’t waste your time trying.
Personal Credit -
AMEX: Platinum, Green, Cash Magnet, Schwab Investor
PNC: Cash Rewards, Points
NFCU: Flaghship Rewards, Cash Rewards, More Rewards, CLOC
PSECU: Founders
BB&T: Spectrum Cash Rewards
CapOne: Quicksilver
Discover: IT Chrome
Synchrony: PayPal 2%, PayPal Credit
Barclays: Uber
Store Cards: Target
AU Cards: Citi Rewards+

Business Credit-
AMEX: Blue Business Plus, Amazon Prime, Simply Cash Plus
Message 2 of 18
Super Contributor

Re: Capital One Denied

Why are you applying for a journey card if you have a savor in your sig? Also, how many cards have you opened in the last 2 years, and how many inquiries do you have in the last 24 mos, 12, and 6?








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Message 3 of 18
New Contributor

Re: Capital One Denied

Sorry about your denial.

Your Savor Card is much better than the Journey card that you were denied for. Just use it for another year and build some more history.
Message 4 of 18
Regular Contributor

Re: Capital One Denied


@Brian_Earl_Spilner wrote:

Why are you applying for a journey card if you have a savor in your sig? Also, how many cards have you opened in the last 2 years, and how many inquiries do you have in the last 24 mos, 12, and 6?


It isn't their card. That's probably why.

Currently rebuilding:
1/18 -
7/19 -

Message 5 of 18
Super Contributor

Re: Capital One Denied

Your income is way too low. You’ve currently got $1500 worth of credit extended to you outside of the AU card. You could very easily get yourself in trouble so you need to show responsible use over time. Use those cards for 6 months and try again. 

 

Aggressive credit seeking makes young files look extremely risky. I would stop throwing away HPs. 


01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 6 of 18
Regular Contributor

Re: Capital One Denied


@aircobra wrote:

@Brian_Earl_Spilner wrote:

Why are you applying for a journey card if you have a savor in your sig? Also, how many cards have you opened in the last 2 years, and how many inquiries do you have in the last 24 mos, 12, and 6?


It isn't their card. That's probably why.


 


@SnowMountain wrote:
Sorry about your denial.

Your Savor Card is much better than the Journey card that you were denied for. Just use it for another year and build some more history.

The Savor Card isn't mine. That is why there is a tag saying "AU" next to the credit line of that card.

The other 2 cards are mine and were open up 3 months ago

Michigan Schools & Gov't Credit Union Classic Visa Card | $3kDiscover Student Cash Back | $2300Capital One Savor Card v1 | $11k AUAmex 1.5% CB | $2kBest Buy Store Card | $3k

July 2018
Ford Credit Loan $199.26/month (3 yrs)
January 2019
Discover Cash it Card $500
Michigan Schools and Gov't CU Card $1,000
February 2019
Self Lender Loan (Closed July 2019)
May 2019
Discover CLI $1.2k
July 2019
Discover System CLI $600
Amex $2,000
Best Buy Store Card $3,000
October 2019
MSGCU CLI $2k

Eyes on Credit Cards
BoA Cash Rewards (with or without Student Verison)Gas Card with 5% Cashback w/ no AF2% Cashback EverythingDining & Entertainment Category Card
Message 7 of 18
Super Contributor

Re: Capital One Denied

Got it. The tag can't be seen if you're not using a computer.








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Message 8 of 18
Super Contributor

Re: Capital One Denied


@Brian_Earl_Spilner wrote:

Got it. The tag can't be seen if you're not using a computer.


Press and hold the image and it pops up. Not as convenient as running the cursor over it but it works. 


01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 9 of 18
Super Contributor

Re: Capital One Denied


@Saeren wrote:

@Brian_Earl_Spilner wrote:

Got it. The tag can't be seen if you're not using a computer.


Press and hold the image and it pops up. Not as convenient as running the cursor over it but it works. 


Doesn't work. Android phone, chrome, desktop view








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Message 10 of 18
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