Denied Capital One AGAIN

[Anonymous]

---

JustTara wrote:.

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.

---

Don't focus on other peoples credit profile, focus on yours. I know it's hard to do, especially when you go online and see other posting of their approvals, but you have no control over that. No two profiles are alike.

Its similar to a job, you may have been at your job just as long, if not more than the next guy. Put in the time and effort, and yet still get passed up for that promotion. Sometimes you win, sometimes you lose.

[Anonymous]

---

@Anonymous wrote:

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.

---

What are the reasons they are giving you for the denials?

[Anonymous]

I just looked at all my denial letters online and every single one just says I have a pending or processed application with them. That's the ONLY reason given. Then why pull my credit with three bureaus if they know this? I'm calling them now to see if I can find anything out.

[Anonymous]

The woman on the phone said that the pending application (since it was for a secured card) would not stop those pulls from going through, and that it looks like the reason(s) for the denial were NOT due to the secured card application, but something else that she can't see yet because my denial letter hasn't yet been generated.

But looking through all my past applications, I don't have any denial letters whatsoever that state anything other than the fact that I have a pending or processed application already. Actually, one says "insufficient income for amount of credit requested", which is bizarre because my income is actually over $70,000. Perhaps I mistyped on that particular application or something, or maybe put monthly income when it asked for yearly. But I know that wasn't the case today.

[Anonymous]

Again, you should pull your credit and see what's in there. You might find something. 

[Anonymous]

I check my credit pretty much daily via a bunch of the free sources. I have a few collections. 4 on TU. I think 6 or 7 on EX and EQ. I had a tax lien at one point, but it's been removed from all three now. Collections are mostly medical (ER visits for my kids, and an ambulance bill), plus a couple of utilities. One is T-Mobile which was prepaid and I requested to be canceled before the bill was due, so I'm fighting with them over it because it shouldn't be on my report at all. I disputed and it just remained.

Utilization is about 20%. 100% on-time payment history other than the collections. Oldest account 4 years. Several loans that are completely paid off. Some sources say my average age is 4 months, others say 9 months. Debt to income ratio is very, very low.

I've seen people with 10-15 collections and scores in the low 500s get approved for this card, so I really am baffled. It's a sub-prime card. I am their target market. I guess I'll just wait for their letter and see what it says. Just so disappointed that I got the triple pull for nothing, when I feel like I should have been a shoe-in for this one.

There's a possibility it's because of too many inquiries. I have 15-20 on each report over the last two years. Several of them were from opening new credit union accounts (PenFed and NFCU) and a car dealership that got overzealous and sent our app to six different lenders who all made 2-3 pulls each.) Only a handful were from actual credit applications, but a pull is a pull, I guess. I didn't think CapOne was particularly INQ sensitive, though.

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.

[J-F168]

No love for me either. I turn down 3 times in a year lol. 

[Anonymous]

---

@Anonymous wrote:

I check my credit pretty much daily via a bunch of the free sources. I have a few collections. 4 on TU. I think 6 or 7 on EX and EQ. I had a tax lien at one point, but it's been removed from all three now. Collections are mostly medical (ER visits for my kids, and an ambulance bill), plus a couple of utilities. One is T-Mobile which was prepaid and I requested to be canceled before the bill was due, so I'm fighting with them over it because it shouldn't be on my report at all. I disputed and it just remained.

Utilization is about 20%. 100% on-time payment history other than the collections. Oldest account 4 years. Several loans that are completely paid off. Some sources say my average age is 4 months, others say 9 months. Debt to income ratio is very, very low.

I've seen people with 10-15 collections and scores in the low 500s get approved for this card, so I really am baffled. It's a sub-prime card. I am their target market. I guess I'll just wait for their letter and see what it says. Just so disappointed that I got the triple pull for nothing, when I feel like I should have been a shoe-in for this one.

There's a possibility it's because of too many inquiries. I have 15-20 on each report over the last two years. Several of them were from opening new credit union accounts (PenFed and NFCU) and a car dealership that got overzealous and sent our app to six different lenders who all made 2-3 pulls each.) Only a handful were from actual credit applications, but a pull is a pull, I guess. I didn't think CapOne was particularly INQ sensitive, though.

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.

---

I see now...you really need to work on reparing what you can and garden for a while.  It will pay off.

[Anonymous]

FINALLY, I know EXACTLY why I have been denied. The letter generated online this time says I have too many collection accounts, and my unpaid collection debt is too high.

I have 4 collections on TU, and 6 and 7 on EQ and EX.

Of course, since I've seen people claiming to have 15 collections and getting approved, I'm still a bit baffled, but at least they finally gave me a solid reason.

[steelers1]

Maybe try calling Cap One there may be a time limit between apps and that is why you keep getting turned down.