@Ficoproblems247 wrote:@dpatel917 There are far better cards out there than Venture. $95 AF for essentially a 2% CB card isn't something to write home about. Are you after it for the juicy SUB they have right now? Or is it something you're wanting for the long term? If it's the former, then I get it. Cap1 is generally a relationship oriented FI, so if you've been putting heavy spend through your other cards with them over the last 6 months and paying in full, or at least very large payments, you may have a good chance at a Venture approval. Your scores look pretty in line with what they look for in a Venture/Savor approval IMO. Keep in mind that the price to apply is 3 HPs. I would not cancel any of your current lines with them before applying for the Venture if that is your ultimate plan.
Cap1 is not relationship oriented. In fact, they're one of the least. Almost all decisions are made by the computer and there's almost no way to override them.
@dpatel917 wrote:
@Ficoproblems247 wrote:
@dpatel917 wrote:Unfortunately Cap1 only allows you to have 2 cards, so cancelling my QSOne is the only option I have.
Not that I'm voting for you to necessarily apply, I still agree with what I said earlier as well as what the others said about moving on to better lenders, but I just wanted to address this in particular as it is a very common misconception. It gets thrown around that Cap1 has a rule of 2 cards which is incorrect. It works as follows: If you want to apply for a sub-prime/student card which includes Secured, Platinum, QS1, and Journey, you may not apply if you currently have 2 or more open accounts with Cap1. If you want to apply for one of their prime card which includes QS, Venture, VentureOne, Savor, and SavorOne (including V1 and S1 for good credit as listed on thier site) you may not apply if you have 5 or more open accounts with them. In short, you are eligible to apply for the Venture card if you currently have 4 or less revolving accounts open with Cap1.
Do you know if anyone has successfully done this? I dont want to risk the inquiries if they are going to deny me soley on the basis of already having 2 cards. I want to go after a SUB on the venture card, but am scared to get denied because of my 2 existing cards.
They've supposedly changed those rules a year or so back. I don't remember what the new limits are.
@Brian_Earl_Spilner wrote:
@Ficoproblems247 wrote:@dpatel917 There are far better cards out there than Venture. $95 AF for essentially a 2% CB card isn't something to write home about. Are you after it for the juicy SUB they have right now? Or is it something you're wanting for the long term? If it's the former, then I get it. Cap1 is generally a relationship oriented FI, so if you've been putting heavy spend through your other cards with them over the last 6 months and paying in full, or at least very large payments, you may have a good chance at a Venture approval. Your scores look pretty in line with what they look for in a Venture/Savor approval IMO. Keep in mind that the price to apply is 3 HPs. I would not cancel any of your current lines with them before applying for the Venture if that is your ultimate plan.
Cap1 is not relationship oriented. In fact, they're one of the least. Almost all decisions are made by the computer and there's almost no way to override them.
I meant that in the sense of that their computer likes you better when you're putting heavy use on your existing cards. They seemed (back in the day) to be willing to throw you a bigger bone when you were already using what they gave you pretty heavily.
@dpatel917 wrote:
@Ficoproblems247 wrote:
@dpatel917 wrote:Unfortunately Cap1 only allows you to have 2 cards, so cancelling my QSOne is the only option I have.
Not that I'm voting for you to necessarily apply, I still agree with what I said earlier as well as what the others said about moving on to better lenders, but I just wanted to address this in particular as it is a very common misconception. It gets thrown around that Cap1 has a rule of 2 cards which is incorrect. It works as follows: If you want to apply for a sub-prime/student card which includes Secured, Platinum, QS1, and Journey, you may not apply if you currently have 2 or more open accounts with Cap1. If you want to apply for one of their prime card which includes QS, Venture, VentureOne, Savor, and SavorOne (including V1 and S1 for good credit as listed on thier site) you may not apply if you have 5 or more open accounts with them. In short, you are eligible to apply for the Venture card if you currently have 4 or less revolving accounts open with Cap1.
Do you know if anyone has successfully done this? I dont want to risk the inquiries if they are going to deny me soley on the basis of already having 2 cards. I want to go after a SUB on the venture card, but am scared to get denied because of my 2 existing cards.
Well could read the card terms directly from their website for each card, where it states on Venture "You are not eligible to apply if you currently have 5 or more accounts with us."
