Quicksilver or Venture question

[Anonymous]

Can someone who is already a Capital One cardholder (has their lower-tier cards for about six months) be approved for a Quicksilver or Venture with mid-600 scores and a few (four or less) collections? I know this is kind of a general question and a lot is determined as far as credit profiles, but what is your experience? Thanks in advance!

[elim]

I have never apped for a Cap1 card without first having a prequal.  I would suggest that.

[Anonymous]

It can happen, but it depends. In that situation however I would not apply without a solid pre-approval.

[Anonymous]

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@Anonymous wrote:

Can someone who is already a Capital One cardholder (has their lower-tier cards for about six months) be approved for a Quicksilver or Venture with mid-600 scores and a few (four or less) collections? I know this is kind of a general question and a lot is determined as far as credit profiles, but what is your experience? Thanks in advance!

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Short answer; yes.

If you've had a positive payment history with Capital One, they will use that for their internal scoring system and may help with approvals on higher tier cards.  The Capital One pre-qualifier is a very good indicator, have you checked it for available cards?

[Anonymous]

They never have pre-quals for me, but both my cards were instant approval.

[Anonymous]

If those are your current scores in your signature, I would say you are too low at the moment. Wait at least until you are at 660 on each score before even considering applying. It will still be tough but that's seems to be pretty close to the floor for approvals for those cards.

[Anonymous]

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@Anonymous wrote:
If those are your current scores in your signature, I would say you are too low at the moment. Wait at least until you are at 660 on each score before even considering applying. It will still be tough but that's seems to be pretty close to the floor for approvals for those cards.

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Those are not my current scores and I am not trying to apply for anything right now. Just want to get a better understanding of how Cap One issues their excellent tier cards.

[Anonymous]

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@Anonymous wrote:

Those are not my current scores and I am not trying to apply for anything right now. Just want to get a better understanding of how Cap One issues their excellent tier cards.

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I can give you my own anecdote. I have an existing QS (was QS1, pc'd in November).  

Their site says to them excellent credit is:

• I have never declared bankruptcy or defaulted on a loan. I have not been more than 60 days late on any credit card, medical bill, or loan in the last year.
  - AND -
• I have had a loan or credit card for 3 years or more with a credit limit above $5,000

I prequal ccc about once a month to see if offers have changed & scratch the itch.

I didn't prequal for Venture until November (before pc).  That was shortly after a student loan default finally fell off.

I have not had a 5k cc over 3 years, but I do have a 9yr mtg and 13yr student loan.

I saw the prequal for QS and Venture then. 

My scores are higher than what you are asking about but it may help on the 'other factors' factor.

For scores you could check the credit pulls database. 

[Loquat]

I never prequal'd on my Venture or my 2 VentureOne cards...cold app'd for all of them and approved.  The 2 VentureOne cards were back to back approvals and the Venture was 10 months later.  I still have my discharged 13 showing on all 3 reports...it's old and about to age off, but still there nonetheless.  I will say that I did have a strong history with them with my QS1 and later the QS that I established 2 years into my 13.  By the time my 13 was discharged I was running mid to high 600's for Fico across the board.  

[Anonymous]

Data points for ya. I have a bk on file and I included cap1 in it. 5 years later I have 2 venture ones qs and qs1 with cap1. Mind you my total exposure with cap one is only about 15k