How solid is Capital One’s Pre-qualifies?

[Anonymous]

How solid is Capital One’s Pre-qualifies?

I Pre-Qualified on Capital One’s website for Venture & Venture One.

I’m very hesitant at this point and feel like I should age my credit longer? I’m curious to know what your thoughts are.

My Ficos: EX 742, EQ 736, TU 753

I do not charge more than 20% and PIF as soon as it posts.

Capital One Approved - May 1, 2017 ($500)

Discover Secured - July 31, 2017 ($800)

Student Loans are 14 years old (10k Owed). I have 5 late payments that are dated November 2010 – March 2011, which will fall off in March 2018.

No Collections & 3 hits for the 2 above cards and 1 card below.

BLUE CASH EVERYDAY (Declined) July 11, 2017.

Reasons for Denial…

Minimal or low credit limits.

Too few established accounts.

Lengths of time accounts have been established.

Too few accounts currently paid as agreed.

The ratio of loan balances to loan amount is too high.

[Anonymous]

Capital One prequalifications are very very very strong -- in my notes I've logged I see fewer than 1 denial after preapproval for every 30 approvals!  So getting denied is extremely rare.

Amex will approve you with those scores once your oldest credit card account is a bit older -- maybe the 1 year mark or so.  I'd try Amex prequalification page in spring and see!  I got the Amex BCP with way lower scores than you but my oldest credit card is 63 months.

[Shooting-For-800]

Cap One prequals are 99% in my research.

I just opened another venture and my apr was dead on at 13.99% and I have 0% balances with Cap One cards and they gave me another $30k!

I have also been approved for Cap One cards in the past that I did NOT prequal for.

I have not seen anyone who prequal and then got denied.

I did get the 7-15 day message which really disappointed me.

I think they are slowing down due to fraud, etc.  

I applied on a weekend and called in on Tues or Wed and was approved.

Honestly, I am suprised you would qual for Venture if you last Cap One card was only $500 and this year.

You have good scores (mine are lower than yours) but no large credit lines.

This might be a huge jump for your credit profile!

If not, inquiries fall off.  Do not sweat it. 

Good Luck!

BTW, Venture One is really pointless.  I would do either Venture or QuickSilver.

[Anonymous]

Thank you, that is good to hear about Capital One.

thanks for the info on Amex as well.

I'm prequalified for 3 cards (including the card i was denied for previously) on Amex's prequalification page. I'm nervous to pull the trigger and try it again right now. i have those late payments that will fall off my report in March 2018, plus giving a little more time for my cards to age. What are your thoughts, best to wait a bit?

[Anonymous]

that is good to hear about Capital One.

Congrats on scoring the venture card with 13.99% & 30k!

I am suprised that is qual for Venture  card too (last Cap One card was only $500 and this year).

- What really make me sceptical is that i tried to get the 91 day credit increase on my Quicksilver One card and was denied. they gave me $200 at my 6 month mark.

[Anonymous]

thanks, i agree, more miles with Venture as opposed to Venture One

[Anonymous]

Those Amex prequalifications are pretty solid, you only see a few people denied and usually due to recent BK.

[Anonymous]

thanks, i will keep it in mind

[Shooting-For-800]

Dont worry about the denial on CLIs.

Search for Capital One buckets and glass ceilings.

Everytime I opened a new card it was because I was denied CLIs.

I went through like 7 accounts to get where I wanted to be.

[Anonymous]

i googled it (Capital One buckets and glass ceilings), that was very interesting. It appears i may be bucketed aswell. 

i'm going to pull the trigger on the Venture card real soon. I have something coming up soon where i will be able to easily spend the 3k (40k miles), and then PIF. 

Hopefully they will suprise me and give me the card.

I saw something in that same thread (Capital One buckets and glass ceilings) where a guy "Pc'd" his C1 $500 Quick Silver One card to a QuickSilver Card. I need to research this too.

Thanks for all your advice, i appreciat it much!