Capital One Exellent Credit definition, plus....

Anonymous · ‎11-13-2021

Hey everyone, I've been a lurker on and off for a few years. Now I am emerge from the shadows to ask a question or two.

I really want to get the new Venture X, but I'm not sure that even with a decent score I will get approved. I see that among other things Capital One considers "excellent credit" to be the fact that you've had a card with a 5K limit or more for at least 3 years. Does anyone know if that is a no exceptions rule with them?

My highest card is a Chase Freedom Unlimited w/ a 5,400k limit, but I only just got it in June. I also have a Quicksilver One with a 2,250k limit and a secured Platinum card with a 600 limit.

So that's two Cap1 cards I already have, but I heard that secured cards don't count toward the two card limit with them. Is that true? I'm also an AU on my wife's Quicksilver and Quicksilver One cards. Does that hurt me?

A couple other things:

- I plan on applying in April.

- I maxed out the CFU when I got it due to putting some major purchases on it while taking advantage of 15 months 0% interest. So I won't app until I'm under 30% on that card.

- All other cards are well under 30%.

- Scores are 685, 693, and 702 tho they were mid 750s before CFU app/ max out. So I'm hoping to be somewhat closer to that in April.

- I'm 2/24

- AoAA is 2y8m

- No collections or lates.

So...could I really get approved in April? Or am I dreamin'

TLDR: Does not having a 5k card for over 3 years really matter? And does having 2 Cap1 cards and being AU on 2 others hurt my chances?

Thank you all. 🙏🏽

FinStar · ‎11-13-2021

Hi @Anonymous - thanks for emerging from the shadows + welcome to the forums.

Capital One will likely make no exceptions (for the time being) as far as the preliminary or eligibility criteria. The card is issued as Visa Infinite and the lowest 'bar' as far as a starting limit with this particular card is $10K. So, it's more than scores and having established experience with other revolving cards with limits in the $5K range -- income and other factors will play a role in that decision. Also, being an AU doesn't really 'hurt' your profile unless that particular AU card has high utilization swings or late payments.

And, while April 2022 is too far on horizon to predict how things will align for your profile, definitely stay the course. Do not apply for anything else as adding new inquiries or new accounts can potentially lessen your odds.

Hoben02 · ‎11-14-2021

You better let that FU age I wrote about my cap one venture x denial, and a reason they denied me was the short length for two cards

Chase (CSP,CF,CFU,southwest premier)
Barclay(jetblue, arrival)
Bofa(US pride, premium, travel, cash, Suzy komen)
Citi(Premier, Double cash, Costco)
Fnbo(Mlife)
Amex(everyday, cash, Hilton)
Blockfi
Caesars rewards
Sofi
Gemini
Cap One Savor One

Anonymous · ‎11-14-2021

Thanks for the reply. The cards that I'm an AU on are in good standing with great history. I was more concerned that they would count that in the number of Cap1 cards I have and say it was too many. And yeah I'm 100% not applying for anything until April or later next year.

Anonymous · ‎11-14-2021

So definitely gotta hit the three year mark on that card? OK so I'll be in this garden for a while longer.

*Straps self to lawn chair*

FinStar · ‎11-14-2021

@Anonymous wrote:
So definitely gotta hit the three year mark on that card? OK so I'll be in this garden for a while longer.

*Straps self to lawn chair*

I don't think you'd need to hit the 3-year mark on that particular card alone @Anonymous. All things considered, as long as you're able to manage what you have for at least a year or so and with a solid payment history you could achieve your goal. April might be a bit too soon, but anything is possible.

What is the limit on the AU card and how old is it?

Anonymous · ‎11-14-2021

@FinStar wrote:
@Anonymous wrote:
So definitely gotta hit the three year mark on that card? OK so I'll be in this garden for a while longer.

*Straps self to lawn chair*
I don't think you'd need to hit the 3-year mark on that particular card alone @Anonymous. All things considered, as long as you're able to manage what you have for at least a year or so and with a solid payment history you could achieve your goal. April might be a bit too soon, but anything is possible.

What is the limit on the AU card and how old is it?

@FinStar

QS1 is 1750 3y8mo

QS is 2650 4y11mo

SUPERSQUID · ‎11-15-2021

Judging from my own personal experience i believe cap 1 relies on more than just a credit report. If you go to the cap 1 site and look at their description of good credit it says no bk in 5 years yet they gave me the savor one for good credit last week when i'm only 1yr/11months post bk7 and they were iibk7 for 5k.

they even gave me a sl of 3k.

I started out 6 months ago with a platinum and kept a reasonable balance each month and then pif each month, they gave me an upgrade to QS and 3 days later a cli from 300-1800.

So i have a feeling they bend those rules on their site if they like things in your profile.

Anonymous · ‎11-16-2021

@SUPERSQUID wrote:
Judging from my own personal experience i believe cap 1 relies on more than just a credit report. If you go to the cap 1 site and look at their description of good credit it says no bk in 5 years yet they gave me the savor one for good credit last week when i'm only 1yr/11months post bk7 and they were iibk7 for 5k.
they even gave me a sl of 3k.
I started out 6 months ago with a platinum and kept a reasonable balance each month and then pif each month, they gave me an upgrade to QS and 3 days later a cli from 300-1800.
So i have a feeling they bend those rules on their site if they like things in your profile.

Thanks for the info.

Anonymous · ‎11-17-2021

Cap One will show Luv on a case by case basis. They can also be cold as ice when they want.

They seem to bend a little when they like what they see. CLI's are definately their sticking point tho.