CapitalOne Venture X Denial

[Cookiedough]

Hello,

For DP purposes, I applied and got rejected by Capital One. At this point, I had 3/24 accounts, 3/1/1 hard requests in Exp/TU/EQ. My average score was around 730. UTI at 43%.

According to the AA letter, which I received a little later:

The reason(s) for our decision are:
· Based on your credit report from one or more of the agencies on the back of this letter, there
have been too many recent inquiries
· Based on your credit report from one or more of the agencies on the back of this letter,
presence of a personal finance loan
· Based on your credit report from one or more of the agencies on the back of this letter, there
is insufficient revolving credit history
· Based on your credit report from one or more of the agencies on the back of this letter, there
is insufficient credit card history

[GZG]

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@Cookiedough wrote:

Hello,

For DP purposes, I applied and got rejected by Capital One. At this point, I had 3/24 accounts, 3/1/1 hard requests in Exp/TU/EQ. My average score was around 730.

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Sorry about the denial, hopefully you can get it next time

were you pre-approved for the Venture in the pre-approval tool?

[Cookiedough]

Yes, I was pre-approved for VenuteOne and Venture.

[Cookiedough]

Thanks. I also have Checking and Savings with them, but I don't use those accounts much. I also had a security card in the past, but when that card graduated, I closed it.

[GTS]

Sorry about the denial but thank you for the DP's as I am also considering the Venture X in the future.

[Cookiedough]

Updated the first post with the reasons for denial. It said I have too many recent inquiries but In fact I only had one.

[OmarGB9]

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@Cookiedough wrote:

Updated the first post with the reasons for denial. It said I have too many recent inquiries but In fact I only had one.

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Guess 1 is too many for them. 🤷‍♂️ Nah it's probably just an excuse.

BTW having a checking/savings with them makes no difference. Their banking and lending departments are completely walled off from each other.

[C6]

I'm sure the 43% utilization is a big factor in the denial. Also, with the minimum limit being $10,000, if you don't have experience with many cards at that limit, it's a negative.

[fury1995]

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@OmarGB9 wrote:

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@Cookiedough wrote:

Updated the first post with the reasons for denial. It said I have too many recent inquiries but In fact I only had one.

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Guess 1 is too many for them. 🤷‍♂️ Nah it's probably just an excuse.

BTW having a checking/savings with them makes no difference. Their banking and lending departments are completely walled off from each other.

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I agree with this statement. Sometimes Capital One is just ..well, reliably weird.

[Cookiedough]

True, 43 is a quite big UTI. I was prepared to get a shoo from them, so no harm done. I will re-apply again later this year, now that I have CRS with a 10K limit which should lull their guard.