Capital One Prequalified Offer

[Anonymous]

I got a pre-qualified offer yesterday in the mail. Got a Quicksilver One with a paltry $500 that Cap1 refuses to CLI, and another $500 Spark Business Classic that is on the same boat.

Score is around 670, will it be worth it to spend 3 pulls with this Pre-Qualified offer? Are Cap1 pre-qualified offers real, or like the invitations to apply from Synchrony?

Thanks!

[ocheosa]

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@Anonymous wrote:

I got a pre-qualified offer yesterday in the mail. Got a Quicksilver One with a paltry $500 that Cap1 refuses to CLI, and another $500 Spark Business Classic that is on the same boat.

Score is around 670, will it be worth it to spend 3 pulls with this Pre-Qualified offer? Are Cap1 pre-qualified offers real, or like the invitations to apply from Synchrony?

Thanks!

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IME those marketing mailers have been good but they tend to be geared towards the step programs; slow growth or bucketed depending on profile. I've received much better results by applying direct utilizing the pre-qual link on Cap One's website. Capital One | See If I'm Pre-Qualified

Of course, YMMV. Good luck!

[Anonymous]

Yeah, that's why I thought. I'll refrain this time, not worth it a triple pull for the same measly $500 CL, when I'm actually over 5k on plenty of cards. 

Thank you!

[ocheosa]

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@Anonymous wrote:

Yeah, that's why I thought. I'll refrain this time, not worth it a triple pull for the same measly $500 CL, when I'm actually over 5k on plenty of cards. 

Thank you!

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Why would you assume it would be a $500 SL ? The mailer could be but the Cap One site would most likely give you a higher SL with better APR/offer. You've already developed a history with them. That's why I pointed you to the website to check direct offers. 

Which cards were offered? SUBs?  If you are offered Venture or Savor that means your limits will most likely be a bit higher and/or you will be offered a SUB. I chose SavorOne because I didn't want to pay an AF. I don't spend enough in category to recoup the AF with +1% pt difference.

Not trying to talk you into a triple pull, just sharing what my thoughts were when I pulled the trigger. There are other cards with dining & entertainment benefits that may be more to your liking. Good luck!

[Anonymous]

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@ocheosa wrote:

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@Anonymous wrote:

Yeah, that's why I thought. I'll refrain this time, not worth it a triple pull for the same measly $500 CL, when I'm actually over 5k on plenty of cards. 

Thank you!

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Why would you assume it would be a $500 SL ? The mailer could be but the Cap One site would most likely give you a higher SL with better APR/offer. You've already developed a history with them. That's why I pointed you to the website to check direct offers. 

Which cards were offered? SUBs?  If you are offered Venture or Savor that means your limits will most likely be a bit higher and/or you will be offered a SUB. I chose SavorOne because I didn't want to pay an AF. I don't spend enough in category to recoup the AF with +1% pt difference.

Not trying to talk you into a triple pull, just sharing what my thoughts were when I pulled the trigger. There are other cards with dining & entertainment benefits that may be more to your liking. Good luck!

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No no, I explained myself badly. What I mean is that Cap1 don't like me. I have two cards from them since 2016, and both of them are STILL on $500 CL. They keep giving reasons, like "We can't access your report" or simply blank reasons on the denial letters. So I'm pretty sure that, even with the pre-qualification they'll give me another $500 and it will be there forever. Is not worth it a triple pull when with other lenders, like Chase, AMEX and Synchrony they all have me with over $3k in credit per card.

[ocheosa]

Thanks for the clarification,  I have a few that don't like my profile as well. Those cards definitely seem bucketed. I have one myself and I get the same canned responses all for CLI denials: low spend, payments not high enough. They won't tell you (direct) the card is capped and you've reached the cards max potential. I learned over the past 3 yrs with Cap One that once your profile strengthens, they will then offer a better product. I am only waiting for them to begin combining limits again then I plan to close my old cap one platinuma nd app for a replacement with higher limit/no restrictions. I like Cap One, just the lower grade products suck. But to be fair, they help you reestablish your credit file much faster than any other bank. You just have to be willing to close the starter card(s) to move on to the next level. Happy card hunting !

[NC84]

The combining cards isn't really that great of an idea unless you plan on utilizing a big portion of the credit limit. I combined my venture one into my normal venture a few years ago and got a 21k limit on my venture only for them to decrease my venture down to 10k less than a year later. The only positive thing I think of when combining cards is ditching the annual fee if you have one but don't bank on Cap 1 keeping that new credit limit .

[ocheosa]

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@NC84 wrote:

The combining cards isn't really that great of an idea unless you plan on utilizing a big portion of the credit limit. I combined my venture one into my normal venture a few years ago and got a 21k limit on my venture only for them to decrease my venture down to 10k less than a year later. The only positive thing I think of when combining cards is ditching the annual fee if you have one but don't bank on Cap 1 keeping that new credit limit .

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Thanks for the advice, appreciate it! I've read about the CLD's. The two I would like to combine will actually total $12k so I think it will be ok.

[FireMedic1]

Combining Cap1 cards has been DC'ed for now. Been like that since I believe Feb/March. You have 2 starter/bucket cards. I also did at one time. I had higher CL's but never over 3k. Next three cards from Cap1 which I have below were approved for 10g's each. You have to prove your self first. Then the better non bucket cards will have higher SL's. But YMMV.

[Anonymous]

cap1 keeps mailing me about a credit-steps platinum card. but when i go onto their website and to creditcards.com it shows i'm preapproved for a venture card which is their best one, with a min $5K limit on it. so i think their direct mail offers are basically a joke. i've had a preapproval for all their cards, savor, venture, everything, since august and yet they never mail me about anything but that credit steps plat card. just because you have 2 of their bucket cards doesn't mean anything, you could sign up today and get approved at 10k if they think you're good for it now. but you won't know what theyll give you til you go for it. i think if you're after a big limit card go for an amex, with a 670 score you might be in the ballpark of approval.