Should I app Venture?

[Anonymous]

Type this into Google: Capital One Denial Fraud Alert

Tons of data points that say they WILL deny if there's a fraud alert showing.  Capital One may have used stale data, there's no way to know.  2 weeks is not enough time to remove fraud alerts, unfortunately, even if your own monitoring says they're gone.

How and why did you have a fraud alert on your reports?  Did you do a phone or online dispute recently, or did you place the fraud alert yourself?

Unfortunately, a recon will mean they will have to pull fresh reports, and you may get 3 more inquiries.

When it comes to fraud alerts, I always suggest removing them and waiting at least 45 days for everyone to refresh and update their AR soft pull data.  Also, if you have a prequalified offer and it disappears, don't apply.  They saw something that spooked them but it may be temporary.

At your scores, inquiries likely don't matter.  Wait for the offer to come back and apply again, you'll get in.

[Anonymous]

Thanks for the info ABC. I have a feeling you're right and that I should have waited. I disputed a very old medical collection that wasn't mine and one of the CRAs placed a fraud alert which spread across all three. As soon as I saw it I contacted them and requested it be removed. A assumed I had allowed enough time since the alerts weren't showing on my own report pull. The collection was deleted.

I called to attempt a recon and the guy said that he couldn't provide one and to wait for my letter. He did make a funny sound when I gave him my scores like he was surprised himself that it wasn't approved. He wasn't a credit analyst though. I guess I'll sit tight and wait for the denial to arrive. Good news is that myfico just alerted me of the inquiry on the EQ side and there's no score change as a result. We'll see what happens when the other two update. If there's no score ding I won't feel so bad pulling the trigger again next month if the pre-qual shows back up.

[Anonymous]

Inquiries are scary for creditors (and FICO) when you are in a subprime scorecard group.  Once you have good credit with a thick file and at least some old accounts reporting. inquiries don't mean much at all.  I know many people with 750+ scores with dozens of inquiries who get approved for new credit and CLIs with no issues. 

The whole "inquiries hurt" only matters if you're a subprime borrow and it spooks creditors that you're credit-seeking.  Once you're a prime borrower, inquiries really don't mean much except for a handful of lenders who are inquiry-adverse.

Nowadays, with a new premium sign-up bonus popping up every 1-2 months, it's normal for prime borrowers to get a lot of new cards just to get the deals.  Banks know this.  They just don't like someone with a subprime creditor score running around begging for credit.  I also think if you have any maxed out credit cards, don't get new inquiries until that's dealt with.

[Anonymous]

Good information. Thanks 

[sjt]

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@Anonymous wrote:

I want the Venture. Only thing keeping me from pulling the trigger is the lowering of my AAoA that will result...   I'd like the opportunity for a decent Visa CL then shoot for a CLI on my Amex in 45 days before hitting the garden..   The temptation to do a 2 for 1 and get the QSilver is real too, but I'm afraid that would really kill my AAoA. If approved that is..

EQ 719 TU 736 EX 708

Current Total Util: 3% 

Income: 90K 

Amex BCE 5,000.00

Amex Platinum NPSL

Amex Gold Delta 1500.00

Discover 1200.00

Cap One 500.00 had for almost 2.5 years perfect pay (started my build)

AAoA 1.2 yrs

Oldest Account 2.5 yrs - Car loan

No bads

Inquiries last 12 months: TU- 0  EX- 3  EQ-1

I have a short history due to living debt free for so many years. 

So tempted..

Added Note: My scores actually went up 10-12 points after I added my last two cards (The Delta Gold and Platinum) Not sure adding another would have the same effect.. 

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You have a good credit profile, so why not diversify your credit profile and get a Chase Card. Check out their pre qual site.

[Anonymous]

Because of their 5/24 rule. There are a couple cobranded cards I would be eligible for, just not sure they necessarily fit my needs right now.

[sjt]

Check out their pre qual site. That is one way of getting around it.

[Anonymous]

I have, but no offers have ever come up:-/

[driftless]

Cap One was my rebuild card(s) and I still have a relationship with Cap One.  I have always found it helpful to call or chat and to thank the CSR for their time upfront and to be gracious during the entire chat or phone call.   When the the CSR says that they can't help you I have always been transferred to supervisor who can help me.   It has been my experience that common politeness will get to supervisor level, which is often more effective than the EO. YMMV.  

[Anonymous]

It always asks if I've "opted out"