Capital One “Pending Status” 7 to 10 days?

[Anonymous]

I since you have 5 Cap One Cards, let me ask you. If I apply for another one in the same month, would they use the same pull report? I hate those darn HP’s. They hit me on all three bureaus. I better get this card. lol. I’d love another too!!!!!

Mark

[FireMedic1]

I'll just throw in the congrats now.

[Anonymous]

Oh wow. Really? Gosh, I hope I’m approved!!! Thank you for the HUGE vote of confidence. I hope I do t miss their call. Holy. Can u imagine. Hahaha.

Mark

[Anonymous]

Getting a credit cards approval is better than any bday gift I can remember. Hahahaha. And I’m 45yrs old. lol. The process stresses me big time now! Capital One walloped me with three hard pulls for each bureau. Can you imagine not getting the card after that?! So unfair! The whole hard-hit lowering your score system stinks. I’d really like to get another Chase card. Thoughts? The Slate maybe? I have the freedom unlimited. Also, I’d like a Bank of America card. I have a checking account with them, and every time I log into my online account, they have special offers for me. I don’t know if that means I am preapproved. Probably not. Probably just a marketing tool to sucker me into three more Hard pulls. LOL

[HeavenOhio]

@Anonymous, congrats on the approval.

Capital One will only approve only one card every six months. But if you were to apply before then, they'd tell you that you were ineligible without having to pull your credit.

Wait on Chase. If I'm counting right, you have three new cards in the past month. Give it three to six months of gardening.

What's your Savor limit?

[xaximus]

I would assume it'll most likely be an approval. Cap1 has definitely slowed down on instant approvals of late, I apped for the Venture and it took about a week before I was approved and mine was on a weekend as well. I would say, since your recent card additions to wait on Chase. The last think you want to do is spook them. Also, they have the 5/24 rule so, if you have gotten 5 cards in the last 2 years, you'll be denied automatically. I would recommend getting cards that are useful to you and can be utilized for their benefits. I.e. Slate is a good BT card, so if you have balances that you can transfer, then get it, otherwise, it's useless for anything else (no UR points, no CB, no miles).

Good luck and do let us know how the Cap1 request goes.

[Anonymous]

Wow...Thank you soooooo much for all that great and valuable information. I will use it wisely. Do all cc companies have the 5 cards per year rule? Which ones. Also, is it worth me calling Cap One to follow up? I'm affraid I will miss their call. They said they would call me in 1 to 2 days max.  I've already called once. I think they want ti call for ID verification, but who know.  Thank you again!

M

[FinStar]

Chase has been known to have the 5/24 restriction for sometime, but given that, some individuals have been able to get around that restriction with in-branch pre-approvals, for example. Not in all cases, though. It really all depends on on the specific profile.

There are other lenders who may have tweaked their UW algorithms as of recent which has noticeable changed the landscape for getting approvals for some of their products, namely Barclays (Uber, Arrival) and Capital One (Savor, Venture). There's plenty of DPs on these forums (plus other sources) which point to some of those trends. Again, an item to keep in mind is the overall profile.

Whenever Capital One decides to contact you, it can be either by mail, email or phone if they require additional information. Just wait it out. If they call you, they will leave a message call back #.
No sense in driving yourself nuts over the process. Just think, there are likely thousands of applicants, some who are likely in the same boat as you, and that's why they have such an established process.

[Anonymous]

THANKS. Much appreciated! I will hang tight, for sure. Will update whenI hear from them.

M

[Anonymous]

UPDATE:

So, I didn’t hear from Capital One for 48 hour like they said , so I called after 72 hours. The customer service rep that picked up said he saw that it was taking time for them to get back to me, so he transferred me to another person, probably whoever should had called me by then, who put me on hold for about 2 minutes, saying he had to verify some information. He came back and said that he had verified the information he needed, and now the application would start to process. Does anybody know what that means? LOL. He said I would receive an email or a letter in the next two or three days and I could call back again if I do t here anything over that time. Has anyone heard of this before? They really make you wait it out. It’s driving me nuts!

Mark