Could Cap One think i'm a churner?

[Benzman]

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@UncleB wrote:

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@Benzman wrote:

Was looking for a nice opening bonus card and went for the Savor. Instant decline.

Got my letter and only issue was too many cards opened in last 24 months.

Checked Exp report and I count 15/24, yet AMEX approved me for magnet just the other day.

So are they considering me a churner?

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It does look like that's the case.

While Chase is well-known for their 5/24, many of us have noticed that Capital One seems to have implemented something similar; I noticed that my own "standing" pre-qual offers went away last fall (and still haven't returned).

While all we can do is speculate, this is one case where I would take the wording from the decline letter at face-value.  I'm not saying that other things weren't factors as well, but it's likely the new accounts are what sunk the app.

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Thanks for your input UB!

I don't even consider Chase apps because of the 5/24, lol, but this episode with Cap One was a new one for me. I normally get the usual too many inquiries, too low of payment, etc excuses. First time I saw this. Amazingly enough, I have only ever collected one bonus with Cap1 for the QS card in the past 5 years.

A worthless 3 pull, but at least many inquiries due to fall off soon.

[Benzman]

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@Brian_Earl_Spilner wrote:

Cap1 has a 9/24 rule because of churners. 

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Thanks for the info! Good to know!

[FinStar]

@Brian_Earl_Spilner, can you cite the source for such 9/24 DP? I don't recall seeing anything official or confirmed for Capital One unlike Chase's 5/24 restriction. Was this something posted on DoC, Reddit or...?

[Anonymous]

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@Brian_Earl_Spilner wrote:

Cap1 has a 9/24 rule because of churners. 

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Really? Where did you hear this?! That's something new to me.

[AverageJoesCredit]

I heard this on myFico

[Brian_Earl_Spilner]

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@FinStar wrote:
@Brian_Earl_Spilner, can you cite the source for such 9/24 DP? I don't recall seeing anything official or confirmed for Capital One unlike Chase's 5/24 restriction. Was this something posted on DoC, Reddit or...?

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I'll have to find it as It was a couple of months ago. I'm pretty sure it was from them. Don't remember if it was on their website or on a card disclosure. I'll look when I get off work tonight. 

[Adkins]

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@Brian_Earl_Spilner wrote:

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@FinStar wrote:
@Brian_Earl_Spilner, can you cite the source for such 9/24 DP? I don't recall seeing anything official or confirmed for Capital One unlike Chase's 5/24 restriction. Was this something posted on DoC, Reddit or...?

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I'll have to find it as It was a couple of months ago. I'm pretty sure it was from them. Don't remember if it was on their website or on a card disclosure. I'll look when I get off work tonight. 

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https://travelupdate.boardingarea.com/capital-one-using-the-24-month-card-limit-rule/

It's also mentioned in the first comment. Anyone with new cards over 9/24 is an auto declined. 

[UncleB]

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@Adkins wrote:

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@Brian_Earl_Spilner wrote:

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@FinStar wrote:
@Brian_Earl_Spilner, can you cite the source for such 9/24 DP? I don't recall seeing anything official or confirmed for Capital One unlike Chase's 5/24 restriction. Was this something posted on DoC, Reddit or...?

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I'll have to find it as It was a couple of months ago. I'm pretty sure it was from them. Don't remember if it was on their website or on a card disclosure. I'll look when I get off work tonight. 

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https://travelupdate.boardingarea.com/capital-one-using-the-24-month-card-limit-rule/

It's also mentioned in the first comment. Anyone with new cards over 9/24 is an auto declined. 

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The 9/24 was mentioned by a commenter; unless I glossed over it the article doesn't mention anything but the '24' part.  I'm proof that 9/24 isn't exact - I'm 7/24 and still have no prequal offer.   

Come to think of it, the last time I remember having a prequal with them I was exactly 5/24, but that doesn't necessarily mean anything.  The 'bottom line' is that Capital One is no longer letting people load up on their cards to get the bonus just to combine and/or sock-drawer/close later on - they got smart (unfortunately for us).

While some in the past have had luck with cold-apping for Capital One with no prequal offer, I personally won't app with them again without one.

[Meanmchine]

The last time I got a credit card prequal from Cap1, George W. Bush was president