Do you need to have a credit card with $5000.00 limit for Venture

[debsunshine]

Hi all,

            I was thinking about apping for Venture but I was wondering if you really have to have an existing credit line of $5000.00 to apply as it says on Capital One website. My current scores are as follows:

Eq:656

Ex:646

Tu:650   I am at 25 percent utilization soon to be a little less than 20 percent, I have one $100.00 CO on Ex and Tu and a 6 year old CO on all 3. I have way too many inquiries to mention what do you think my approval odds will be? Thanks

[dobirdsmommy]

I did Just with Capital One that is reporting. Freedom and Slate are too new to report

My scores are in my siggy and I have 2 liens on 2 of the CB and 1 lien on another CB and I got 15k

[Anonymous]

youve got a chance brotha. shoot fot it 

[debsunshine]

I went for it and DENIED! Will receive a letter in 7 to 10 days

[Jarnog]

sorry to hear

Were you pre-qualified?

[tubbynerd]

My highest CL when i applied and was approved was $3000

[teo77777]

My highest was also 3k at the time. I see you have more than 1 Cap one card at the moment. If you got one of those very recently, then that maybe the reason behind a denial. When I checked the prequal sites 3 weeks ago,  it said I was pre'd for QS, Venture, or Venure One. I chose the no apr version. Checking the site today, I have no offers.  So check the prequals often.

[debsunshine]

Thank you all! I was not prequalified and my newest Cap One is 6 months old. I did app for something last month before my utilization went down so maybe they are using an old pull from before my credit reports updateds. I will keep checking the pre-qual though

[teo77777]

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@debsunshine wrote:

Thank you all! I was not prequalified and my newest Cap One is 6 months old. I did app for something last month before my utilization went down so maybe they are using an old pull from before my credit reports updateds. I will keep checking the pre-qual though

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You also might hit the luv button on those QS1 cards as well. Many people, including myself have gotten cli's while still in their credit steps program. It's a soft pull, so why not.

[happypill]

My highest limit before getting my Venture in January was $3k - a QS1 from Capital One.  My highest non-Cap1 limit was $1000.