Capital One Venture App after Ch 7 BK?

[Anonymous]

Applied for the Capital One Venture today and got the 7 to 10 day message. Hoping they just reach out to confirm income or something instead of a denial. Got a credit card about a year ago with my credit union with $1000 limit, and approved for Discover IT $1800 just now. Wanting to have 3 cards total.

Not sure what actual FICO is, probably 650-670 based on the last pull 6 months ago (634). Ch 7 was discharged 05/16 (16mo ago). Two vehicle loans for 6mo, secured loan for 18mo, credit card 12mo. Old student loan for 10 years. No lates ever on open or closed (IIB) accounts. Did include Cap One in BK for ~$3000.

Income $128,000 (was making a LOT less when I filed), DTIs 14/18%. Thinking chances of approval are pretty high, if denied will recon. You guys have any thoughts?

[Anonymous]

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@Anonymous wrote:

Applied for the Capital One Venture today and got the 7 to 10 day message. Hoping they just reach out to confirm income or something instead of a denial. Got a credit card about a year ago with my credit union with $1000 limit, and approved for Discover IT $1800 just now. Wanting to have 3 cards total. 

Not sure what actual FICO is, probably 650-670 based on the last pull 6 months ago (634). Ch 7 was discharged 05/16 (16mo ago). Two vehicle loans for 6mo, secured loan for 18mo, credit card 12mo. Old student loan for 10 years. No lates ever on open or closed (IIB) accounts. Did include Cap One in BK for ~$3000.

Income $128,000 (was making a LOT less when I filed), DTIs 14/18%. Thinking chances of approval are pretty high, if denied will recon. You guys have any thoughts?

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Welcome to the forums. Capital One does not recon. You can try, but you most likely will have no success. Did you try their prequalify tool? You will most likely have to start with a Platinum or QS 1. You dont have "excellent" credit due to your BK. And Venture is for excellent credit. Venture seems harder to get lately. Your chances are pretty low to none of an approval.

If it said we need more time, versus a straight 7-10 it could mean verification. If you got the straight 7-10, it's most likely declined and won't be reversed.

[DeeBee78]

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@Anonymous wrote:

Applied for the Capital One Venture today and got the 7 to 10 day message. Hoping they just reach out to confirm income or something instead of a denial. Got a credit card about a year ago with my credit union with $1000 limit, and approved for Discover IT $1800 just now. Wanting to have 3 cards total.

Not sure what actual FICO is, probably 650-670 based on the last pull 6 months ago (634). Ch 7 was discharged 05/16 (16mo ago). Two vehicle loans for 6mo, secured loan for 18mo, credit card 12mo. Old student loan for 10 years. No lates ever on open or closed (IIB) accounts. Did include Cap One in BK for ~$3000.

Income $128,000 (was making a LOT less when I filed), DTIs 14/18%. Thinking chances of approval are pretty high, if denied will recon. You guys have any thoughts?

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Capital One is tightening the purse strings after their recent uptick in defaults. We believe that this includes stricter approval criteria on their higher tier cards. 

I was denied the Venture last week, and I have a pretty strong profile. Their denial reasons included no mortgage account, and too many inquiries.  

[Shooting-For-800]

I got the 7-10 msg after being prequalified at 13.99%

Called them few days later and was approved for $30k.

I think the 7-10 msg is for fraud research.

I also applied on the weekend, that may matter.

My Fico scores average right at 700 with 30% utilization (all 0% for 18 months)

I run 6-8k per month through Cap One cards and make large payments WEEKLY.

I am loyal to them and they reward me very well.

Good luck OP.

[Anonymous]

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@Shooting-For-800 wrote:

I got the 7-10 msg after being prequalified at 13.99%

Called them few days later and was approved for $30k.

I think the 7-10 msg is for fraud research.

I also applied on the weekend, that may matter.

My Fico scores average right at 700 with 30% utilization (all 0% for 18 months)

I run 6-8k per month through Cap One cards and make large payments WEEKLY.

I am loyal to them and they reward me very well.

Good luck OP.

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The OP was declined and it will stay a decline.

[Shooting-For-800]

FTR I have been approved for several other Cap One cards that I was not pre-approved for.

Of course MMV.

[Anonymous]

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@Shooting-For-800 wrote:

FTR I have been approved for several other Cap One cards that I was not pre-approved for.

Of course MMV.

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I was never pre approved either. But I wasn't a year out of BK applying for their top tier card either.

[Anonymous]

I was recently approved too with no preapproval and a BK 13.  

I hate to beat at a dead horse, but it goes back to all profiles are different. My EX is at its lowest bc every month, my FICO score updates with a late payment 2 months ago (there is no late payment). 

I dont by any means claim to know the answers or the formula, but no one can give more of an educated guess on approvals. We can give estimates with scores, but no one can give guarantees. 

I just recently installed new counters and flooring in my LR, DR and kitchen. I had a 4K balance on my QS at the time of app with overall utility of 6% between 2 cards for data.