Capital One Venture with recent inquiries and new accounts

[MrDisco99]

I asked this in the questions thread on /r/churning and literally had three people tell me to get a Chase card instead (even though I clearly stated I am 19/24).  Those YouTube travel hacking videos are poisoning the well.  So I bring this question to you...

I'm planning to book some stays on hotels.com and I'd like to take advantage and sign up for a Cap1 Venture to get the best rewards. However, I've heard Cap1 are very stingy with the Venture lately and I've been pretty active in the past year or so with new accounts and inquiries.

My Data:

FICO scores are around 740ish (higher for TU)

Inquiries: 12/10/6 (last 12 months: 8/9/5)

New accounts: 7/6 18/12 19/24 (most recent is from 12/2018)

If I wait until mid-March it'll knock me down to 4/6. If I wait until mid-May I'll be 1/6 and 13/12 (still 19/24).

Do I have any chance of getting an approval in March or May? Or do I need to just give up and garden and hope to get one next year? Would my chances be better with the VentureOne?

Does anyone have any data points of Venture approvals with recent inquiries and new accounts?

Also, what's Cap1 recon like?  If I app for a Venture and get denied, can I get them to resubmit for a VentureOne or Savor without them triple pulling me again?

[CreditCuriosity]

Tried the PreQual?  Those are pretty solid obviously.  Cap1 doesn't persay recon and if you tried for the Savor after would be another 3 pulls.  Cap1 can be a toss up as lending has certainly tightened up.. They will still approved people with say 680's for the Venture with a 10k-20k SL assuming they don't have alot of credit/accounts and their credit can have "baddies" on it, but they seemed to have tightened up on people with alot of credit and good scores more-so than their known money makers being the more sub-prime market or entry into prime is their target audience it appears as more likely to pay AF's, carry balances, etc...  People with perfect credit doesn't yield them as much money due to not paying interest, etc..  Just a general generalization, but my take how Cap1 has evolved.  Could go either way, but a pre-qual certainly would make me feel more warm and fuzzy.

[MrDisco99]

Yeah I tried the prequal and no dice.  I just figured it was due to my 8 month long app spree last year.

I have seen some successes on cold apps, though.

I have no baddies on my reports (anymore), so the main obstacle is my recent new accounts.  I figure time will fix that, but I'm wondering how long I need to wait.  Those rooms in Santorini in October won't be available forever.

[CreditCuriosity]

Yes it is a roll of the dice with all your new accounts as sure you have read DOC and this site among other with people with scores in the 800's being shut down mainly due to alot of new credit or alot of credit already.  So certainly could go either way.  If you don't mind the triple pull then give it the role of the dice.  I don't think anyone can really give you an answer that can say no or yes your will be approved.  Time will certainly help with the approval odds, how much time is the question.

[AverageJoesCredit]

Wouldnt it be better to go for the Venture One in this case of the hotels.com connection? I thought on a previous post , it was mentioned how the one might work better with hotels.com. Curious if im mistaken, thanks and good luck Mr Disco

[MrDisco99]

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wrote:
Wouldnt it be better to go for the Venture One in this case of the hotels.com connection? I thought on a previous post , it was mentioned how the one might work better with hotels.com. Curious if im mistaken, thanks and good luck Mr Disco

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The advantage to the VentureOne is that you get the same 10x on hotels.com but with no AF.  For a new app, though, I'd rather get the bonus on the Venture.

[Anonymous]

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wrote:

I asked this in the questions thread on /r/churning and literally had three people tell me to get a Chase card instead (even though I clearly stated I am 19/24).  Those YouTube travel hacking videos are poisoning the well.  So I bring this question to you...

I'm planning to book some stays on hotels.com and I'd like to take advantage and sign up for a Cap1 Venture to get the best rewards. However, I've heard Cap1 are very stingy with the Venture lately and I've been pretty active in the past year or so with new accounts and inquiries.

My Data:

FICO scores are around 740ish (higher for TU)

Inquiries: 12/10/6 (last 12 months: 8/9/5)

New accounts: 7/6 18/12 19/24 (most recent is from 12/2018)

If I wait until mid-March it'll knock me down to 4/6. If I wait until mid-May I'll be 1/6 and 13/12 (still 19/24).

Do I have any chance of getting an approval in March or May? Or do I need to just give up and garden and hope to get one next year? Would my chances be better with the VentureOne?

Does anyone have any data points of Venture approvals with recent inquiries and new accounts?

Also, what's Cap1 recon like?  If I app for a Venture and get denied, can I get them to resubmit for a VentureOne or Savor without them triple pulling me again?

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Forgive me as I’m copying this from another of my posts. I think I have data points closest to your profile on the boards.  I went back and looked at my credit report from that week. Here are the results: 

I read an entire Reddit thread of seemingly endless denials back in October which kept me from applying then. In December, I applied and was instantly approved (SL 15K) with the below data points:

Cold App/No prequals 

AAoA:
7yr11mo

Double Pull

Inquiries ||| Score
EX FICO 8 - 9 ||| Score: 730
TU FICO 8 - 8 ||| Score: 737
The approval letter showed a Bankcard 2 or 4 score of only 700. I can’t remember anything more specific than that. Apologies.

Last Opened Account:
BoA Premium Rewards - October 1
Discover it - October 1
Barclaycard Red Aviator - November 1

New Accounts:
10 in previous 7 months.
4 in previous 4 months.
3 in previous 3 months.

I hope this helps. But I do think this was an aberration from all of the data points I saw on Reddit.  It is a crap shoot. 

[Anonymous]

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wrote:

Yeah I tried the prequal and no dice.  I just figured it was due to my 8 month long app spree last year.

I have seen some successes on cold apps, though.

I have no baddies on my reports (anymore), so the main obstacle is my recent new accounts.  I figure time will fix that, but I'm wondering how long I need to wait.  Those rooms in Santorini in October won't be available forever.

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Kind of a stretch and I'm guessing you already know about this anyway but you have a quicksilver right? You didn't get it in the last 6 months did you? I know stuff like this randomly slips my mind sometimes, and I think their 6 month rule is relatively new, so figured I'd throw it out there just in case because AFAIK they won't give you any prequals if you're under the 6 months on another cap 1 card (because of the whole only one card every 6 months thing)

Either way good luck to you MrDisco with whatever you decide to do, and have a sweet vacation  (I know, I know, a little early, but hey at least you've got something to look forward to for a while amirite )

[kdm31091]

Capital One doesn't recon and there is no hope of rebsubmitting the app with the same pulls for a different product or anything like that. Barring an error on your credit report, if you're denied, you're denied - just have to wait and try again.

They have definitely tightened their purse strings. A couple years ago they were basically handing out Venture cards left and right, and I would say you should be good to go. But I've seen very few Capital One approvals lately, at least for the higher tier products i.e. Venture, Savor. Doesn't mean no one is being appproved obviously, but they have tightened up quite a bit.

IMO it is best to wait and garden some more before burning 3 pulls. At the very least I would wait until May. Good luck

[MrDisco99]

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@Anonymouswrote:
Forgive me as I’m copying this from another of my posts. I think I have data points closest to your profile on the boards.  I went back and looked at my credit report from that week. Here are the results: 

I read an entire Reddit thread of seemingly endless denials back in October which kept me from applying then. In December, I applied and was instantly approved (SL 15K) with the below data points:

[STUFF]

I hope this helps. But I do think this was an aberration from all of the data points I saw on Reddit.  It is a crap shoot. 

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Wow that's amazing.  Thanks for that.  While this gives me hope, I feel like I need some corroborating data before I feel confident about going for it, because yeah, that looks like an anomaly compared to the denial stories I've heard.