Denied Capital One AGAIN

[AverageJoesCredit]

The inqs are not holding you back. In my 2 year build ive accumalated upwards of 24 hps on TU and Eq, and up to 20 on Ex, some worthless apps when not knowing better orhers too impatient lol. With an income of 70k, the credit world should be yours for the taking. The collections, for whatever the reasons, are holding you back. Attack them the most before keep apping. Youll see when you hwve a cleaner report, youll be posting about how easy your approvals are

[K-in-Boston]

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@Anonymous wrote:

Oh, and I realize that they're not totally accurate since they're just trying to make money, but ALL of the credit score companies like Credit Karma, Credit Sesame, Wallet Hub, etc. Say I have "very good" odds of being approved for the Capital One Platinum card. I don't generally pay attention to their offers, but since all of them say that and since I've seen people with so much worse profiles get approved, I really felt confident now that I'm right around 600.

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You are correct that it's just marketing. I have poor to fair odds for all of the cards I actually have that they list; they even only give me fair odds for some secured credit cards! I completely understand your frustration with Capital One though when you compare yourself to others. I've been a customer for 18 years, squeaky clean payment history my entire life and they have never given me a single credit line increase, and are the only lender to have turned me down for credit in years while I see a constant stream of people with far lower credit standing being approved left and right. Sometimes you just have to decide that you and a particular lender aren't a good match and move on to other lenders.

[DaveInAZ]

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@Anonymous wrote:

Oh, and I realize that they're not totally accurate since they're just trying to make money, but ALL of the credit score companies like Credit Karma, Credit Sesame, Wallet Hub, etc. Say I have "very good" odds of being approved for the Capital One Platinum card. I don't generally pay attention to their offers, but since all of them say that and since I've seen people with so much worse profiles get approved, I really felt confident now that I'm right around 600.

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Getting you to apply for a credit card or loan is the primary revenue stream for the free credit score companies. I only use Credit Karma, plus free scores from my credit card companies. I check me CK on Sunday mornings. Guess what 2 CCs CK recommended to me this morning with "very good approval odds? American Express Blue Cash Everyday and Bank of America Cash Rewards. I already have those 2 cards.   When the free credit score companies recommend CCs you already have you know they have no clue what your odds of approval are, they are just trying to entice you to apply so they can make some $$$. Don't fall for it.

[Meanmchine]

If you are still looking for an unsecured bankcard, try Merrick Bank. IMO they are the best of the sub-prime lenders

I dont know if this link is still active, but you can give it a try

https://onlineoffer.merrickbank.com/?code=UCK7199226695

[Anonymous]

Tara, Contrats on getting a 50 point raise in 2 months.  Several quick points  1) patience is a virtue.  Let some of the inq drop off while you garden. I have this problem with cli and have to watch myself to avoid asking to soon. 2) Given your income can you pay off the collections and either pfd or gw them  away.  Cap 1 QS/QS  1  is imo a good card to rebuild with. .  Very simple rules .  However,  once you get everything fixed if you pif each month there are are beter cards like Amex BCP, Disco and Citi DC.   

[Anonymous]

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@Anonymous wrote:

Tara, Contrats on getting a 50 point raise in 2 months.  Several quick points  1) patience is a virtue.  Let some of the inq drop off while you garden. I have this problem with cli and have to watch myself to avoid asking to soon. 2) Given your income can you pay off the collections and either pfd or gw them  away.  Cap 1 QS/QS  1  is imo a good card to rebuild with. .  Very simple rules .  However,  once you get everything fixed if you pif each month there are are beter cards like Amex BCP, Disco and Citi DC.   

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Thank you. I wish I could do PFD, but aside from a couple of collections that are quite small and I don’t want to pay because of the principle of the thing (like an account I asked the company to cancel, but they didn’t), and an $850 ambulance bill, the collections are all $3,000 or more each. Since we have very high business expenses and seven children, money is still tight despite a decent income. At times, $20 would break us. Other times we might have a couple hundred dollars to put toward paying down debt, but we use that to pay down the balances on our cards.

Income will be higher in a few months, but my business is seasonal and summer is absolutely dismal for my income.

[Anonymous]

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@Anonymous wrote:

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Thank you. I wish I could do PFD, but aside from a couple of collections that are quite small and I don’t want to pay because of the principle of the thing (like an account I asked the company to cancel, but they didn’t), and an $850 ambulance bill, the collections are all $3,000 or more each. Since we have very high business expenses and seven children, money is still tight despite a decent income. At times, $20 would break us. Other times we might have a couple hundred dollars to put toward paying down debt, but we use that to pay down the balances on our cards.

Income will be higher in a few months, but my business is seasonal and summer is absolutely dismal for my income.

I understand but sometimes we pay bills we disagree with.  Many years I had to have emergency surgery. (long story) They botched the operation and forgot to submit it to my insurance.  At one point I was looking at death because of their stupidity. I  finally had to have a 2nd surgery to save my  life. This one by a different doctor the insurance paid. However, the first group was still trying to make my pay 100%.  After haggling with them for 2 years and threatening them with civil and criminal we settled. They took 10 cents on the dollar and removed the item from my credit report.  I felt I should never have paid one dime but it was the only way to get it off my report.   You can do the same wit the small collections.  

For many years our biz ran very seasonal with no  sales from October to March. I finally about 6 or so years ago started marketing to new clients that were not so seasonal.  Now are we year round. Last December inspite of the storms was one of best months. 

[Anonymous]

Not much I can do in my case. I’m an author, and all authors report much lower income in the summer. People just don’t read nearly as much in the summer. Even putting all the money I can into advertising doesn’t make a difference in the summer.

[Anonymous]

Free advertising is the best.  I have a relative who pushes some very strange values (I don't agree with but) she is the go to expert for " her strange values"  As a result she is featured in NYT, chicago Sun Times and been on GMA many times. Every times she does a press release business booms.   Some time I wonder if she pushes these values just for the money part.  

[Anonymous]

Also a bit of a shock> 725 FICO....confirmed. No collections. I dont carry any debt other than my car lease and student loans which are $0 because I qualify for income based repayment. That being said I sat down and wrote a litter and even detailed my monthly budget. I have $5000 in savings...after expense each month I have $1,200 in deposable income....DENIED....??? yes. I just guess they dont like my name.