Capital One Venture Denied!

[coldfusion]

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@ridgebackpilot wrote:

"Their loss" is about $12K per month of credit card spend, which I can easily put on other cards!

Presumably the algorithms used by credit card companies are mostly about risk. It's difficult to see why any company would think my file represents a level of risk that justifies this denial.

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It's not their loss, it's your gain.  C1 can be generous with Venture CL but it isn't a particularly noteworthy travel card.

[krmurrayjr10]

Just my 2 cents: a year or 2 earlier, they might well have approved you. Just a few days ago, there was a news article that Capital One and another issuer were beginning to scale back their credit card lending, as they anticipate an economic downturn and want to proactively manage their risk. In your case, they might see someone to whom they’ve already made a few thousand available on one card, and they’re using close to a third of their available credit across all cards, and they have a decent if not spectacular score, and that’s enough exposure for us right now...

[blindambition]

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@krmurrayjr10 wrote:

Just my 2 cents: a year or 2 earlier, they might well have approved you. Just a few days ago, there was a news article that Capital One and another issuer were beginning to scale back their credit card lending, as they anticipate an economic downturn and want to proactively manage their risk. In your case, they might see someone to whom they’ve already made a few thousand available on one card, and they’re using close to a third of their available credit across all cards, and they have a decent if not spectacular score, and that’s enough exposure for us right now...

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Yes! The other issuer was Discover. I see the rest following. 

[Anonymous]

Same happened to me. Applied, auto denied with Experian 779, 2 others higher. They’ve sent me a denial letter stating my score was 689. No manager was able to help me. I’m closing all cap 1 cards now

[MyDataMyChoice]

capital one used the triple pull.... and uses the mortgage scores....

its nice they also allow preapproval... if you dont see a preapproval dont apply