Rejected on Venture X on a 790

whoknows1 · ‎08-23-2022

Income 320k, never carry a balance, ficos, 804, 790, 777. Has 2 cards with Capital One, not my main horse driver since their customer service sucks. I have the Venture card, and the silver one forgot the name.

Rejected. Calling the reconsideration line now, ... what gives?

Update:

quick update: apparently they use Fico Score model 3 Experian,... and according to that model my score is only 748. If they used the most common one, Fico 8 Bankcard, my scores are 817, 799, 795. The rejection is

Based on your credit report from one or more of the agencies on the back of this letter, there
are too many revolving accounts

CreditCuriosity · ‎08-23-2022

@whoknows1 wrote:
Income 320k, never carry a balance, ficos, 804, 790, 777. Has 2 cards with Capital One, not my main horse driver since their customer service sucks. I have the Venture card, and the silver one forgot the name.

Rejected. Calling the reconsideration line now, ... what gives?.

Cap1 doesn't care about income nor credit scores many many people get denied with high incomes and > 800 ficos. Just like I have seen people in the 600's getting approved for card and < 100k income for 20-30k with some baddies on their credit whether BK or previous CO's. Guessing you have many other accounts opened in the last few years and don't carry balances really? Their target audience ideally is people that carry balances and people that don't open alot of cards and use them primarily. Stories all around on many blogs as they don't want to pay out bonuses that they likely will never earn back in swipe fees or interest. Just business and their business model.

Bill77 · ‎08-23-2022

@CreditCuriosity wrote:
@whoknows1 wrote:
Income 320k, never carry a balance, ficos, 804, 790, 777. Has 2 cards with Capital One, not my main horse driver since their customer service sucks. I have the Venture card, and the silver one forgot the name.

Rejected. Calling the reconsideration line now, ... what gives?.
Cap1 doesn't care about income nor credit scores many many people get denied with high incomes and > 800 ficos. Just like I have seen people in the 600's getting approved for card and < 100k income for 20-30k with some baddies on their credit whether BK or previous CO's. Guessing you have many other accounts opened in the last few years and don't carry balances really? Their target audience ideally is people that carry balances and people that don't open alot of cards and use them primarily. Stories all around on many blogs as they don't want to pay out bonuses that they likely will never earn back in swipe fees or interest. Just business and their business model.

I'm an example of this. I've tried the prequalification tool 3 times over 6 weeks and every time the only offers I get are for two secured cards! Never had a secured card in my life and I'm not starting now. I have a 822 FICO, great income, and pay my balances before the statement cuts. I'm moving on to other cards/SUBs for now but if I ever circle back to C1 I'm going to see what happens if I let my balances report.

whoknows1 · ‎08-23-2022

Called their "recon line" - don't even bother, waited 15 minutes, talked to some one all they said is they can reprocess the application and see if there's a different result. I never liked Cap One anyways, customer service is F- in my books, 20 to 40 min waits, and when you get to one, they never solve your problem, just reading off of a script.

And yes, I have all the cards from AMEX (that's allowed, except for centurion ofc). I have 3 or 4 chase, a Citi Premiere, black card from BOA, I think 13 or 14 cards.

The call today to the recon line just reminded me why I never used my Venture card - it's nice looking and metal, but that's about it. I never spend money on cards that when I need to call them, have to wait 20 minutes... Capital One is truly the F- in my books. Only reason I gave them another shot was for the Venture X.

Traveler101 · ‎08-23-2022

@whoknows1 wrote:
Income 320k, never carry a balance, ficos, 804, 790, 777. Has 2 cards with Capital One, not my main horse driver since their customer service sucks. I have the Venture card, and the silver one forgot the name.

Rejected. Calling the reconsideration line now, ... what gives?

There are higher up senior account specialists who can be a lot more understanding and have a little more leeway. The problem is getting to one. Usually your dealing with a low level representative.

wingennis · ‎08-23-2022

@Bill77 wrote:
@CreditCuriosity wrote:
@whoknows1 wrote:
Income 320k, never carry a balance, ficos, 804, 790, 777. Has 2 cards with Capital One, not my main horse driver since their customer service sucks. I have the Venture card, and the silver one forgot the name.

Rejected. Calling the reconsideration line now, ... what gives?.
Cap1 doesn't care about income nor credit scores many many people get denied with high incomes and > 800 ficos. Just like I have seen people in the 600's getting approved for card and < 100k income for 20-30k with some baddies on their credit whether BK or previous CO's. Guessing you have many other accounts opened in the last few years and don't carry balances really? Their target audience ideally is people that carry balances and people that don't open alot of cards and use them primarily. Stories all around on many blogs as they don't want to pay out bonuses that they likely will never earn back in swipe fees or interest. Just business and their business model.

I'm an example of this. I've tried the prequalification tool 3 times over 6 weeks and every time the only offers I get are for two secured cards! Never had a secured card in my life and I'm not starting now. I have a 822 FICO, great income, and pay my balances before the statement cuts. I'm moving on to other cards/SUBs for now but if I ever circle back to C1 I'm going to see what happens if I let my balances report.

This is me, too. Only ever received prequalification for secured cards which I have never had from any bank.

LADave · ‎08-23-2022

@Traveler101 wrote:
@whoknows1 wrote:
Income 320k, never carry a balance, ficos, 804, 790, 777. Has 2 cards with Capital One, not my main horse driver since their customer service sucks. I have the Venture card, and the silver one forgot the name.

Rejected. Calling the reconsideration line now, ... what gives?
There are higher up senior account specialists who can be a lot more understanding and have a little more leeway. The problem is getting to one. Usually your dealing with a low level representative.

This is the first time I'm hearing about this. How do you get on the phone with a senior account specialist?

OmarGB9 · ‎08-23-2022

@Traveler101 wrote:
@whoknows1 wrote:
Income 320k, never carry a balance, ficos, 804, 790, 777. Has 2 cards with Capital One, not my main horse driver since their customer service sucks. I have the Venture card, and the silver one forgot the name.

Rejected. Calling the reconsideration line now, ... what gives?
There are higher up senior account specialists who can be a lot more understanding and have a little more leeway. The problem is getting to one. Usually your dealing with a low level representative.

Not anymore. At one time in 2015/2016 you could try appealing to the Executive Office (EO), but that avenue dried up long ago. @LADave

@whoknows1 Cap One has no recon. All of their decisions are AI based. Calling in to try to recon won't connect you to an analyst the way it does with other lenders.

As far as the 20-minute wait time, I don't think that's exclusive to Cap One.

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:

Current FICO 8 scores:

805orbust · ‎08-24-2022

I have tried to avoid Cap1 but they seem to keep reeling me in via the back door. First Walmart MC, then Cabelas, now REI MC. It's making me crazy already. They are nuts. They *were* giving out increases like candy years ago, but that ship has sailed as well.

whoknows1 · ‎08-24-2022

AMEX, Chase, Citi - never had to wait more than 1 to 5 minutes.