DD wants to open a new travel CC to put a bunch of Wedding expenses on in hopes of funding the Honeymoon with SUB and rewards points, anticipating around $20,000 through the card/cards. She currently has Chase Sapphire Pref, Unlimited, and Flex and about $1200 worth of Chase travel rewards. Unfortunately Fiance has pretty low scores (low 600's) and Probably over 5/24. So she was looking at the Cap 1 Venture X or Venture cards but also wants to get decent SL's so I had her try the Venture X Prequal as if approved would be minimum 10k SL and then go for the regular Venture card as it has a little better SUB right now and lower AF. Then if Preapproved for the Venture X apply for the regular Venture and should get an SL around 10k.
Unfortunatly she did not get the Venture X Preapporval. The reasons given were too many new accounts and accounts vs credit history (Young file?) Used Experian Score of 711 (Didn't say what version).
DP's
Experian Fico 8 = 771
Experian HP's on credit = 3
5/24 new accounts
4/24 Credit cards (3/24 in May)
Highest limit is $33,000 on Navy Plat
Chase combined limits are about $36,000 between those three cards
Overall CU - 32%
two 0% APR cards opened within 12 months Wells Fargo and USBank are 80% Util
that plan definitely can backfire, I've seen somebody pre-approved for venture + vx, apped venture and got a $2k limit (the minimum)
you can always check the pre-approval for the venture itself, and you'll know you're cooked if it only shows the venture one
https://www.capitalone.com/credit-cards/preapprove/miles/?landingPage=venture
good luck with whatever you decide to do!
DD tried the Regular Venture Preapproval and was only offered the VentureOne - She's going to work on getting her ratios better and see where she is at in June once she is below 5/24. Thanks @GZG for the tips!
@oorhettThe Experian score is likely FICO 3. Capital One has a history of using EQ5, TU4, and EX3 scores (based on the FICO 04 model).
