Denied for Venture Card with strange explanation

Anonymous · ‎07-26-2015

Has anyone ever heard this before? I was deined for a Capital One Venture card and this is what it said:

Thank you for applying for a credit card issued by Capital One®. Unfortunately, after reviewing your application and information obtained from your consumer credit report(s) from the agencies detailed on the back of this letter - we cannot approve your request at this time.

The reason(s) for our decision are:

• Based on your application information, Capital One account credit limit(s) are too high

Has anyone ever had this denial reason? What does it even mean? i have a QS1 with a $7000 limit and C1 Platinum with $3000. Certainly I havent exceeded any crazy ammoun with them? I really dont understand this and when I called to inquire I was told they cant tell me anything about it over the phone and I would have to contact the credit bureau. Is there anything I can do about it?

Anonymous · ‎07-26-2015

Maybe try to PC the platinum to a Venture?

Maddog_ · ‎07-26-2015

@Anonymous wrote:
Has anyone ever heard this before? I was deined for a Capital One Venture card and this is what it said:

Thank you for applying for a credit card issued by Capital One®. Unfortunately, after reviewing your application and information obtained from your consumer credit report(s) from the agencies detailed on the back of this letter - we cannot approve your request at this time.
The reason(s) for our decision are:
• Based on your application information, Capital One account credit limit(s) are too high

Has anyone ever had this denial reason? What does it even mean? i have a QS1 with a $7000 limit and C1 Platinum with $3000. Certainly I havent exceeded any crazy ammoun with them? I really dont understand this and when I called to inquire I was told they cant tell me anything about it over the phone and I would have to contact the credit bureau. Is there anything I can do about it?

It's probably based on the income you reported to them, along with a DTI calculation of your overall monthly payments. Capital One can be very stingy sometimes. They tend to be very generous if you have higher income and few revolvers.

Anonymous · ‎07-26-2015

What is PC?

Anonymous · ‎07-26-2015

@Anonymous wrote:
What is PC?

Product Change. Change the platinum to Venture

Anonymous · ‎07-26-2015

awesome, I will try that! Thank you

Anonymous · ‎07-26-2015

@Anonymous wrote:
awesome, I will try that! Thank you

You're welcome. Good luck

Anonymous · ‎07-26-2015

Update!! Called this number: 877 513 9959. Actually spoke with someone I could understand, so that was win #1! They upgraded my Platinum to a Venture One and Upgraded my QS1 to a regular Quicksilver. So I got rid of two annual fees and gained another rewards card! Im quite happy about this! Unfortuately I am missing out on the sign-up bonus miles with the Venture, but at least I got rid of the Platinum which was giving me no rewards AND costing me an annual fee. All in all Im pretty happy with Capital One and their products!

sunkissed · ‎07-26-2015

@Anonymous wrote:
Update!! Called this number: 877 513 9959. Actually spoke with someone I could understand, so that was win #1! They upgraded my Platinum to a Venture One and Upgraded my QS1 to a regular Quicksilver. So I got rid of two annual fees and gained another rewards card! Im quite happy about this! Unfortuately I am missing out on the sign-up bonus miles with the Venture, but at least I got rid of the Platinum which was giving me no rewards AND costing me an annual fee. All in all Im pretty happy with Capital One and their products!

Cool beans! I'm happy it all worked out for you Congrats on the upgrades.

Anonymous · ‎07-26-2015

woohoo!