Denied Capital One AGAIN

[Anonymous]

I am pulling my freaking hair out trying to get started with Capital One.

I've applied several times in the past year, triple pull EVERY FREAKING TIME, and I was so sure I'd be in this time since I finally have FICO scores at or above 600. Got denied again, but they pulled all three bureaus even though I have a pending app with them for a secured card which I am NOT going to take because they asked for the full $200 deposit from me even though my scores are better than my husband's were when they only asked him for $99 for a $200 limit.

I have about 12 INQs spread over my reports in the past 6 months because of them.

I'm ready to smack someone or something. ARGH!

I don't know why I even keep trying with them. I guess I just REALLY, REALLY want SOMEONE to say yes to an unsecured card after so many months of trying to fix my credit. WHY???? This is the best my credit has ever been in my entire life thanks to having a large number of kids and not having medical insurance, and not having any help whatsoever from their fathers. My mistakes still keep haunting me so many years later, no matter how hard I try.

I guess you can tell patience is not one of my strongest suits. I've been working on gardening other than trying for Walmart (denied) and Cap1 (denied over and over). Oh, and trying for NFCU twice. Denied twice.

[K-in-Boston]

Where your scores are right now, the inquiries themselves are probably hurting you, and I'll assume Average Age of Accounts and time since most recent account opening are major factors as well.  Other than just "getting in" with Capital One, is there a pressing need for one of their cards?  You have the BOA and Discover cards, which will both graduate and grow grow grow over time.  Use the cards responsibly, pay them in full every month, and dedicate some serious time in the garden to let the accounts and inquiries age and your scores will shoot up fast.

Also, while it certainly doesn't hold true for everyone, there are a number of people who have had issues with CapOne later on when their credit improves if they first got an account with CapOne when their credit was less than stellar.

[Anonymous]

I guess having had poor credit my whole life I'm trying to push things too quickly, but it's been about twenty years since I've been able to have an unsecured credit card and I've been spending every spare penny I have on paying off debt and trying to improve my credit and it just feels like it's for nothing. 

I don't have a pressing need to have a card with them. I guess I just needed some kind of validation that all this is worth it. Otherwise, I might as well pay off these cards I have, close them, and forget ever having credit. The process just takes way longer than I can personally stand. It feels hopeless.

I really don't think I personally have the patience to do the gardening thing. I'll pay 50% more for an item to get it with free overnight shipping rather than wait 5 days for regular shipping. That's just my personality type.

[Anonymous]

OP - If you haven't done so, you should pull your credit reports and go over them.  See what's on them, what's affecting you and what you can fix/update etc.

You need to start there!  You might find something/s you forgot about or that are not yours etc.

When was the last time you did this?

[Anonymous]

I also struggle with the patience aspect, and I come from a poor credit background. In my case, my credit was poor mainly due to years of neglect/abuse on my part. Some of what you wrote struck a chord with me; the part about forgetting about getting credit at all. That kind of "all or nothing" thinking (which, believe me, I am as susceptible to as anyone), can lead to mis-steps in the process (I've made about every mis-step a person can make). All I can say is to take a step back, and realize that while there are times a person has to act, a lot of times a person can "decide NOT to decide" for the immediate term. Don't give up the good fight you are fighting.

[Anonymous]

Don't get discouraged. You have two scores that are up 50 points in the last two months . . . that is some GOOD WORK

I really wanted to get back in with Capital One after my BK. Even after the year they sometimes blacklist people, there is something wrong with my file there and I still get automatically declined. At this point, I'm past even bothering with them. Truth be told, I don't think their products are that great anyway.

You are seriously on the right track. I know you know this, but you have to garden and let those CapOne and any other inquiries fall off and let the average age of your current accounts grow. Keep all of the cards except one reporting $0 and one card reporting < 9%. If you don't have an installment loan (auto, student or home) do the shared secured loan. (I think there is one that doesn't have an HP.)

I understand not being patient, but you have the seedlings planted and the scores will represent if you give it more time. Congrats on the progress thus far!

[DaveInAZ]

Some good advice in the posts above. But also don't waste inquires on your credit with Cap One, Capital One has one of the more reliable pre-qualifiers:

https://findmycard.capitalone.com/en/PageVersions/LandingPages/LP_ONE_V01.aspx

It's just a soft pull that won't affect your score, just when you apply for a card, and don't apply until it tells you "you're pre-qualified for  . .  ."

[Anonymous]

I've been told I was pre-qualified for the secured card, but then denied because I already had a pending secured app. I wonder if the pending secured app is why they denied me the unsecured card, but if that was it why did they pull all three credit bureaus instead of just declining? That's what Credit One did way back when I was trying to get their awful card. I had a pending app, so they just denied me with no pull.

It's just really frustrating getting declined when others with more collections, higher util, worse scores, etc. get approved, because it doesn't make any sense to me. Their criteria is bizarre at times. But I guess all lenders have bizarre criteria sometimes.

[Anonymous]

OP - You don't need to be doing any more applications for credit.  Work with what you have, and again, you need to check your reports to see what's in there.

Regarding the pre-quals, WHEN the time comes to appy, if something does come up, makes sures it has a set APR, if it doesn't and has a range (15% - 21% Example) do not apply.  With cap1, you have to go in strong to avoid denials.

Garden garden and work with that you have.

[Anonymous]

Patience might not be your strong suit but patience is exactly what is needed here, there is really no way around it.  Set a score goal (ie 700) and stay put until you reach that goal, you have enough cards on your profile to get there.