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Capital One VentureOne approval odds

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Capital One VentureOne approval odds

I recently received an email, a letter, and is showing in my Cap One app that I am preapproved or pre qualified for their VentureOne card. Currently I have a Cap One card, was the secured card that they upgraded to Quicksilver (reg QS, not QS One) CL $1500. I have the TJX card (in store only not MC) CL is 1200 I think which I got because I used to work for TJ Maxx and was shopping there a lot lol. Credit score on Cap One app and credit karma is showing 672. How good are my odds if I apply for this card? Cap One card opened Mar 2016 TJX Sept 2016, I do have inquiries from when I bought a car last year but have not opened any accounts besides the car loan and a student loan.
Message 1 of 17
16 REPLIES 16
Valued Contributor

Re: Capital One VentureOne approval odds

VentureOne is the worst reward card Cap One has IMO.

Check their prequal site and see your options.

 

QuickSilver gives you 1.5% cash back on everything

Venture gives you 2% credit back on everything towards travel charges

Savor gives you 4% cash back on dining and entertainment plus 2% on groceries

SavorOne gives you 3% cash back on dining and entertainment plus 2% on groceries

 

VentureOne gives you 1.25% credit back towards travel charges.

 

If you don't care about dining and entertainment rewards, I would just do QuickSilver.

 

GL!

 

Rebuild started in 2014  -  $100k+ unsecured credit in 2017  -  $250k+ unsecured credit in 2019.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

10% Rotating - Discover                    5%-20% - Amazon & Lowes                3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl         4% Dining & Entertain - Savor            3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything Else - Flagship          1% Cancer Charity - Fifth Third          0% Finance Promos - Venture & QuickSilver





    
Message 2 of 17
New Member

Re: Capital One VentureOne approval odds

I do already have the quicksilver which I like. I'm just looking to add a 2nd card that's good everywhere (unlike my TJX one which is only good at TJ Maxx Marshalls and Homegoods). I thought I would have better luck with the ventureone vs the regular venture because my credit score is still in the "fair" category. I have also gotten letters about the discover it card and the AAA Visa which I think is a Bank of America card if you have any input on either of those. I dont want to add too many inquiries so I'm trying to figure out which one is my best shot at getting approved lol
Message 3 of 17
Regular Contributor

Re: Capital One VentureOne approval odds

Pre-approval is very different from pre-qualified, be sure you know which one they offered. Pre-approval is what you’re looking for if it’s not a pre-approval from CapOne then you could very well be denied. If I were you I would go to Discover & try their pre-qualify check which is 10x more accurate than CapOne plus you wouldn’t get 3 hard pulls (one from each credit bureau) from a solid application if you do apply. CapOne is really tightening up the reigns, I have the VentureOne and really the only benefit to the card is right now you get 10x points via hotels.com/venture so unless you’re using it as a hotel card I would try elsewhere and expand your credit with other creditors. Sticking with one company can hold you back.




EX: 694 (F8)(7inq) | TU: 691 (VS3)(5inq) | EQ: 699 (VS3)(5inq)
BK Ch 7 Discharged 2015 | x1 Paid collection | x1 30 day late on file
9% Utilization | AAoA: 2yrs | Updated: *UPDATING*
Message 4 of 17
Valued Contributor

Re: Capital One VentureOne approval odds

You can have more than one quicksilver just so know.

 

GL!

Rebuild started in 2014  -  $100k+ unsecured credit in 2017  -  $250k+ unsecured credit in 2019.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

10% Rotating - Discover                    5%-20% - Amazon & Lowes                3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl         4% Dining & Entertain - Savor            3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything Else - Flagship          1% Cancer Charity - Fifth Third          0% Finance Promos - Venture & QuickSilver





    
Message 5 of 17
New Contributor

Re: Capital One VentureOne approval odds

I would establish history with another cc company, I see so many people closing Cap one because they don't grow your limit and that can hold you back. Amex & Chase are some good places to look.
FICO 8 Dec. 13 2018
Experian 702
Equifax 738
Transunion 770
2/24 Chase

Accounts:
Cap1 QS $1,100
Cap1 QS1 $1,300
Chase freedom unlimited $4,500
NFCU personal loan $3,500 ($200 balance)
Aaoa 1.6 years
1-2 inquiries per bureau
Message 6 of 17
Established Contributor

Re: Capital One VentureOne approval odds


@Shooting-For-800 wrote:

VentureOne is the worst reward card Cap One has IMO.

Check their prequal site and see your options.

 

QuickSilver gives you 1.5% cash back on everything

Venture gives you 2% credit back on everything towards travel charges

Savor gives you 4% cash back on dining and entertainment plus 2% on groceries

SavorOne gives you 3% cash back on dining and entertainment plus 2% on groceries

 

VentureOne gives you 1.25% credit back towards travel charges.

 

If you don't care about dining and entertainment rewards, I would just do QuickSilver.

 

GL!

 


It really depends on what other cards you have. I actually PC'ed my Venture to the VentureOne. Doing so saved me $95 for the AF, but I still get 10x points on hotels.com. The 2x miles flat rate that the Venture offers is weak when compared to the Citi DC or Paypal MC that both offer 2% back but with no AF. The Venture now has Global Entry, but that still doesn't even out the $95 fee. 



[2/2019]
Message 7 of 17
Regular Contributor

Re: Capital One VentureOne approval odds

YMMV of course but here was my take on it:

 

I opened up a secured $300 QS1 card in April of last year after burning them in 2016 and closed off. It finally unsecured in March of this year to $500.

 

I used the card, sometimes to 90% and PIF,  or paying half balances and it made no difference.  I apped for other prime cards and was approved during the 2nd half of last year(AMEX=3 cards).  I kept calling/chatting to get my CLI or product change and no dice.

 

I finally saw i was prequaled for other cards on their site after never once having been shown anything.  I cold apped for my Venture one and was approved with a $5k starting limit.  I just recently paid off the balance of my QS1 and rolled it into my V1.

 

Sometimes if your in the bucket it wouldnt hurt to apply and if you get approved pay the balance off and consolidate into one card.

 

ps- get your real scored off a trial of credit check total, not credit karma.  if your pretty positive you should be fine

Credit rebuild journey started 4/2017: Exp: 558|EQ:533|TU:565
As of 12/2018: Exp:679|EQ:652|TU:680

-Discover IT: $500 secured SL---->$1,950 |
-Capital One Venture 1: $5,500|
AMEX Blue Cash Everyday $1,000 (04/2018)|
AMEX Delta Gold SkyMiles $2,000(04/2018)| AMEX SPG $1,000(8/2018)| PNC Cash Rewards Visa $4,000(8/2018)| AU : United MileagePlus Explorer+ BoA BankAmeriCard
Message 8 of 17
Valued Contributor

Re: Capital One VentureOne approval odds

Personally, I would look at other lenders besides Cap1. Check prequals for both Discover and Amex. Depending on your spending, I would recommend both the Discover IT and the Amex Blue Cash Everyday as both are good CB cards. If you are looking for a straight CB card, the Paypal 2% CB MC is a good card.


Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 9 of 17
Contributor

Re: Capital One VentureOne approval odds

OP - I am going to also throw my vote in the "Get something else" category. 

 

I also started with Capital One - but now that I have built up a better credit history - I rarely use my QS card. Getting you foot in the door with Amex is a better solution and they seem like a good fit based on the information you provided. As you build a relationship with Amex - you will have access to much better cards. 

 

The other company I would try if Amex does not work out, is Discover. Again they seem like you could be a good fit for them. 

 

Obviously your credit scores and file will ultimately determine your credit limits - but overall my experience has shown me that Amex and Discover are more generous with higher limits. My Capital One card is 7 years old and I have never been late - the CL is $13,750. My Amex BCP card is 18 months and has a CL of $15k. By the time my Amex is 2 years - my goal is to get it to 30k. 

Message 10 of 17
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