Capital One Quick Silver Denial

[mrinal]

Hi everybody.

Applied for Capital One QuickSilver credit card and got denied.

Rejection letter indicates two issues:

1. It says "too many inquiries". But all of 3 credit reports have ONLY one inquiry each.

2. It says it pulled the credit score from Experian. According to the letter my credit score was 698. But actually my Experian credit score was 717 during application.

Is there any way to contact the reconsideration department? How to properly explain the situation to them?

Also, why did this discrepancy occur between my actual credit score and the score Capital One recieved from Experian?

[CreditMagic7]

Others will weigh in for you with absolutes but to my knowledge Capital One's credit decisions are iron clad and i don't recall ever seeing any denial overturned by them. Lenders like Chase, US Bank, Citi and a host of others have and do sometimes overturn denials into approvals. But i don't think Capital One could be considered one of those exceptions.

[SUPERSQUID]

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@mrinal wrote:

Hi everybody.

Applied for Capital One QuickSilver credit card and got denied.

Rejection letter indicates two issues:

1. It says "too many inquiries". But all of 3 credit reports have ONLY one inquiry each.

2. It says it pulled the credit score from Experian. According to the letter my credit score was 698. But actually my Experian credit score was 717 during application.

Is there any way to contact the reconsideration department? How to properly explain the situation to them?

Also, why did this discrepancy occur between my actual credit score and the score Capital One recieved from Experian?

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I am going to assume you cold apped for the card and didnt check the cap 1 prequalifier. Theres no guarantee of approval but its always best to see if anything pops up when you check the prequalifier. the sad thing about cap 1 is they hit you with 3 hp's for the cold apping denial.

i have read there is little luck with recon concerning cap 1 since they are mostly computer driven

[Adkins]

As others have stated, you unfortunately cannot recon a denial with Capital One because their lending decisions are all determined by computer algorithms and CSRs have no power to get a denial overturned. 

[Anonymalous]

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@mrinal wrote:

Hi everybody.

Applied for Capital One QuickSilver credit card and got denied.

Rejection letter indicates two issues:

1. It says "too many inquiries". But all of 3 credit reports have ONLY one inquiry each.

2. It says it pulled the credit score from Experian. According to the letter my credit score was 698. But actually my Experian credit score was 717 during application.

Is there any way to contact the reconsideration department? How to properly explain the situation to them?

Also, why did this discrepancy occur between my actual credit score and the score Capital One recieved from Experian?

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There are 28 different FICO scores (44 counting the new version 10):

https://www.myfico.com/credit-education/credit-scores/fico-score-versions

Capital One pulls EX 3, EQ 5, TU 4:

https://ficoforums.myfico.com/t5/General-Credit-Topics/Which-Report-Will-They-Pull-Part-2/td-p/63797...

If you were using the free Experian credit score, it's FICO 8. Cap1 was looking at a score based on a different version of the algorithm.

[GMCTexas]

My opinion, but Capital One just isn't friendly to some people regardless of your credit history. I have never, not 1x gotten a CLI from Cap1, auto or self requested,  even with  perfect credit reports across the board and a good income, and high-ish scores (780+)

And 2 weeks ago I applied for a few cards, my first apps in over 2yrs. Got 2 cards (Citi and Chase) approved at $15k. Cap1 approved my Savor card for $300. Cap1s days in my portfolio are numbered. 

[SDMarik]

Cap 1 decisions are super firm, I have never heard of anyone having a recon with them. Did you check your Fico Bankcard scores? That is probably what they pulled.

Also, there may be more reasons for the denial but by law they only have to provide you with at least one. You can always wait a few months and try again

[arifjk]

I think Cap1 is using a different scoring model. It's not FICO 8 for sure. I was denied before and the score was very different from FICO 8. 

[CreditMagic7]

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@GMCTexas wrote:

My opinion, but Capital One just isn't friendly to some people regardless of your credit history. I have never, not 1x gotten a CLI from Cap1, auto or self requested,  even with  perfect credit reports across the board and a good income, and high-ish scores (780+)

And 2 weeks ago I applied for a few cards, my first apps in over 2yrs. Got 2 cards (Citi and Chase) approved at $15k. Cap1 approved my Savor card for $300. Cap1s days in my portfolio are numbered. 

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Incredible the Savor SL. Sheeez Capital One certainly is in a league all their own. 

[Zoostation1]

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@Anonymalous wrote:

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@mrinal wrote:

Hi everybody.

Applied for Capital One QuickSilver credit card and got denied.

Rejection letter indicates two issues:

1. It says "too many inquiries". But all of 3 credit reports have ONLY one inquiry each.

2. It says it pulled the credit score from Experian. According to the letter my credit score was 698. But actually my Experian credit score was 717 during application.

Is there any way to contact the reconsideration department? How to properly explain the situation to them?

Also, why did this discrepancy occur between my actual credit score and the score Capital One recieved from Experian?

---

There are 28 different FICO scores (44 counting the new version 10):

https://www.myfico.com/credit-education/credit-scores/fico-score-versions

Capital One pulls EX 3, EQ 5, TU 4:

https://ficoforums.myfico.com/t5/General-Credit-Topics/Which-Report-Will-They-Pull-Part-2/td-p/63797...

If you were using the free Experian credit score, it's FICO 8. Cap1 was looking at a score based on a different version of the algorithm.

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If they're still using FICO 5, 4, 3 that's good info and in my case may be beneficial to me with them . My 5, 4, and 3 are all higher than any of my FICO 8 or 9 scores.  I did see one person on that thread recently added a data point for getting FICO8 pulls, but hopefully that's not a new normal until I get those to a higher level. My next card want is Savor One as the 3% categories make up the largest chunk of my CC spend).