Guess I should have listened to the community. Venture Denial.

[Anonymous]

I guess I should mention I do have about 7 chargeoffs and an auto repo( which came with a judegement).  All paid but one and it will get paid this year.   Last time I checked my fico 4 scores were about 30 points lower than the 8's listed. 

I am at work and was trying to finish my post fast and get back to the job that pays that income, so left off some important details.  Anyway, just disappointed in the denial.  But my scores are definately borderline and many on here told me I should probably wait.  I plan on trying my best to garden for at least 6 months.  I have gotten 3 denials and only2 approvals since July.  So I know I have to let my accounts and baddies age.  

Just wanted to say I should have listened to those on here who told me I probably should wait till middle of next year.  But alas, I'm a guy and can be hardheaded at times. LOL

At least that's what the DW says.  

[CreditCuriosity]

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@elim wrote:

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@CreditCuriousity wrote:

Possibly your income?  8k with Cap1 isn't alot.  Strange indeed as your scores are fine with them. Usually their is a correlation between income and scores for the amount they are willing to expose. themselves to

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  That's what i was thinking at first but...  I usually work 6 months a year and last year i put 41k, just to be safe, on all my apps (including cap1). Right now i'm at 29k exposure and like i said "prequal for QS and V again" with worse scores and less income  (and major derog).  Something else must be up.

but... Just my EQ and EX are lower and they do pull all 3

EQ 680, TU 725, EX 675

and btw... yawn...  i'm off now for entire winter   :]

edit: don't they use EQ 04 for decision?  maybe that's it?

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Yes they use 04... Wonder what OP's 04 is ?  Once I read his post again and saw his income it more than justified limits with Cap1 compared to some others here limits vs. income

[Dalmus]

It also ties in with general exposure to other creditors, as well.

What's your total credit line across all cards from all issuers?  Maybe Cap1 sees that you have an income of 75K, but your total available credit line puts you over whatever they think you should have.

[Hokies2379]

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@Anonymous wrote:

I guess I should mention I do have about 7 chargeoffs and an auto repo( which came with a judegement).  All paid but one and it will get paid this year.   Last time I checked my fico 4 scores were about 30 points lower than the 8's listed. 

I am at work and was trying to finish my post fast and get back to the job that pays that income, so left off some important details.  Anyway, just disappointed in the denial.  But my scores are definately borderline and many on here told me I should probably wait.  I plan on trying my best to garden for at least 6 months.  I have gotten 3 denials and only2 approvals since July.  So I know I have to let my accounts and baddies age.  

Just wanted to say I should have listened to those on here who told me I probably should wait till middle of next year.  But alas, I'm a guy and can be hardheaded at times. LOL

At least that's what the DW says.  

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Maybe this is your issue? 

Good for you to have scores that high with that many chargeoffs though.  I have 1-2 collections on each report and am still 50 points or more behind you.

[elim]

maybe it was a generic response in the denial.  just keep checking that pre-qual.  it will show up soon enough  :]   good luck!

[taxi818]

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@teo77777 wrote:

FYI...Cap 1 uses older models like EQ Mortgage 05, and they are slooow to update scores. They still list my score from April, and it's up 45 points since then.

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+1  and in the denial letter you will see that the score is not your fico 08 score. time and time again we tell people. Sometimes the fico 4 score is higher than a persons fico 8 score. so they will get approved will low fico 8 score. or like in my case. My fico 4 scores are at least 75 points lower than my fico 8 scores. So it just depends. Im not sure if that is real reason op. But i do agree it appears that cap  one is tightening their belts with the Venture approvals. The ride was nice while it lasted for some. as i know for sure my brother has 2 ventures and a QS. I only have one and that is all i wanted. cap one still in the top 3 in my book. as far as lenders go.