Capital one

[Anonymous]

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@Anonymous wrote:

I have to disagree with you. This is from my credit karma acocunt and my age of acocunts is 8 years. Depsite filing bankruptcy it's 6 years and I got the Quick Silver Signature visa with a limit of $6,000   six months after BK when my credit score was 701, and 6 months later it was increased to $10,000 and now my score is 731. I beleive the that most of people complaining about Capital One average age of acocunts isn't that high compare to mine.

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Mine is 4 years with Transunion and 8 with Equifax.  I havent Bked and started over with my credit clean...You base your CL on age, which by model would suggest thats the reason why you got higher CL than most, but your BK will show up on your report, which would negative impact your scores when you applied for cards. You call it complaining? I call it BS on Cap1 part on how they extend credit to some with issues and others just starting off again.  I have a 792 with Equifax and 762 with Transunion on Credit Karma, which by the way are useless Vantage scores. The only good thing about credit karma are the items below, which would make it seem like I am a "great" consumer for a higher CLI with Cap1, but thats not the case. So it will be the last card I ever get from them. 

[Remedios]

There are hundreds of threads agonizing over Cap One,who they approve, for how much and why no CLI (or conversely, great SL and CLIs). 

With that said, there is no need to turn this or any other conversation into referendum on BK and who's more deserving of approval/CLI. 

Lenders have their own business models and preferred demographics. No need to put each other down over it. 

[Anonymous]

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@Remedios wrote:

There are hundreds of threads agonizing over Cap One,who they approve, for how much and why no CLI (or conversely, great SL and CLIs). 

With that said, there is no need to turn this or any other conversation into referendum on BK and who's more deserving of approval/CLI. 

Lenders have their own business models and preferred demographics. No need to put each other down over it. 

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I dont think anyone is putting anyone down on this thread, I think facts and experiences are being shown here. I am showing my experience with Cap1s screwy CLI adventure I have had, period. 

[Anonymous]

I firmly believe that due to their asset-backed securities model and the need to have a steady level of risk in each bucket that Capital One can bucket anyone when they need to. We already know that Capital One’s highest ABS bucket has no cards less than 5 years old in it which means that Capital One moves accounts around as they deem necessary. This would explain why some of us get out of the bucket and others stay bucketed for years. When I got my Plat back in 2014, my credit was so bad that I was only offered secured cards by others and that $300 card is now $8250 as of last March. Capital One was very stingy with CLIs until the card was 2 years old and then it was 6 months like clockwork whether auto or manually requested until I stopped using the card after my last $2000 CLI last March. 

When looking at a Capital One product, it’s best to just have your profile optimized so you get the best SL out of the gate because there is no way to know what bucket you will get put in. Savor and Venture have a minimum $5K SL so a good rule for Capital One is to start off with a rebuilder card and then not apply for a second card until you have a prequal for Savor or Venture and your profile is otherwise optimized. If you get the right SL out of the gate, their bucket games become less of a hassle. 

[Anonymous]

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@Anonymous wrote:

I firmly believe that due to their asset-backed securities model and the need to have a steady level of risk in each bucket that Capital One can bucket anyone when they need to. We already know that Capital One’s highest ABS bucket has no cards less than 5 years old in it which means that Capital One moves accounts around as they deem necessary. This would explain why some of us get out of the bucket and others stay bucketed for years. When I got my Plat back in 2014, my credit was so bad that I was only offered secured cards by others and that $300 card is now $8250 as of last March. Capital One was very stingy with CLIs until the card was 2 years old and then it was 6 months like clockwork whether auto or manually requested until I stopped using the card after my last $2000 CLI last March. 

That’s the thing I started my card back in 2015 with no secured required with a $300 SL Plat card, in my 2 year period, this 6 months you talk about was no existent on my card, I upgraded to the following cards with the links provided on this board Quicksilver one and recent to Venture One, while still being in the guise of the plat card I was bucketed in 2015. Unsure why Capital One lets one upgrade cards types, as the Venture One is for 700+ credit scores and they still bucket consumers. Seems we took the same credit path with different items on our reports but my CLI story sucks compares to yours.

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[Anonymous]

I don’t know that any of Cap’s cards are for 700+ - I have a prequal for every single one of them right now and I’m at 681 on EQ. 

My point is that the only products that are guaranteed to not be heavily bucketed are their AF cards. Even Venture One and Savor One drop with $1000 limits. 

[Anonymous]

If you go to Cap1 website they show the average credit profiles for cards, I just got off with a supervior and asked him about my Venture One card and whats the point of it, if they keep the consumer in the same profile as when they applied. He had no answers and stated I get rewards but terms still stay the same, he stated if I wanted a CLI I could do a HP, I said, no theres other cards that I would waste a HP, that are better. There seems to a process that Cap1 does for these CLI, and its just crap. I will leave it at that.

[Anonymous]

The following is from cap ones website. It's how they define excellence. The savor and venture don't require 700+ scores. So many people get accepted with scores in the 670 + range for those cards with good limits.

**Excellent Credit**
I’ve never declared bankruptcy or defaulted on a loan; I haven’t been more than 60 days late on any credit card, medical bill, or loan in the last year; I’ve had a loan or credit card for 3 years or more with a credit limit above $5,000.

[Anonymous]

Wow, ... 👀
That explains a lot! 😂 Not so much the bankruptcy argued about before, but a definitive statement as to how to achieve Capital One excellence!
Thank you for the info! 😁

[Anonymous]

You have all of this to say yet I got a Quick Silver Signature Visa Card 6 months after BK, and 6 months later my limit was increased to $10,000. Haven't said that I dare say you all don't under stand how the credit