Venture Card Decline - Frustrated by this- UPDATE

[Anonymous]

One more point - While I do spend $4-$5K per month on the chase card, they can't see that because I use/pay off, use/pay off.  I guess I should probably garden for a while huh?

[Anonymous]

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@Anonymous wrote:

One more point - While I do spend $4-$5K per month on the chase card, they can't see that because I use/pay off, use/pay off.  I guess I should probably garden for a while huh?

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Try getting a CLI on your Chase card to $5k. Wait 6-12 months and try again with Venture...if you click on Excellent credit needed at Cap1 website, it will state you need a $5k card etc...in your reports. Lesson learned, good luck!

[Anonymous]

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@Anonymous wrote:

One more point - While I do spend $4-$5K per month on the chase card, they can't see that because I use/pay off, use/pay off.  I guess I should probably garden for a while huh?

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If you're talking about Chase, they can see how much you're using the card every month no matter how often you pay. If you were talking about Cap1, they can see your highest balance ever on that card because it shows on your credit report. If you're paying what you charge on a weekly basis (so lower amounts), I'm not sure how that would show on your report. Maybe you could just let the balance add up and make 1 large payment before statement cuts? I don't know, I'm just guessing here.

As for the reason for your denial, everyone else is correct - you need to have experience with a card that has a CL of "at least" 5k. So yes, I would try to get a CLI on your Chase card, wait a few months, and then try for the Venture again.

[ojefferyo]

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@Anonymous wrote:

One more point - While I do spend $4-$5K per month on the chase card, they can't see that because I use/pay off, use/pay off.  I guess I should probably garden for a while huh?

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They won't be able to see that, only Chase will know how much you actually run through their cards. 

[MauiMan85297]

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@Anonymous wrote:

Nothing new to add with all been said.. I was denied with Venture solely for the purpose of not having history with a card with 5K limit.. Although I've had the Freedom at 5K but was still relatively new.. That was before I was reading this forum! So now we know! Have some history and experience with a card with that limit

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Definitely odd for me then, I had a BK7 disc in 12/2014 and had NEVER had a CC with a limit over 2k except being an AU on Discover for 7k that was closed more than 6 years ago and was approved in Nov 2015 for a Venture (10k) and QS (3k) all in a span of 2 mins, since then have gotten a Venture 1 and another QS card from them reporting individual income as 65k- YMMV is correct for this scenario!

[Anonymous]

Easy one to fix (I think).. Take your Synchrony cards, call CS, and raise the limits to 6-10k...

[Anonymous]

Very odd denial reason. I got the venture in July. At the time my highest limit was my platinum cap one card at 2,500.

[Anonymous]

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@Anonymous wrote:

Easy one to fix (I think).. Take your Synchrony cards, call CS, and raise the limits to 6-10k...

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I think that's what got my $10k  Venture approval. At the time of approval, the highest limit CC I had was a $2300 Barclay Rewards card which I had just received a $1300 cli to get me there. But, I had a $10k limit Walmart store card, $3500 Amazon card and $3500 JCP card.

[Anonymous]

Sorry about the denial.  Venture was my first $5k bank card.  I have store cards over $5k, so I guess they looked at that as my highest bank card was the Barclays in my signature.  As someone suggested, maybe getting your Synchrony store card over $5k might help.  Good luck.  Don't lose hope.

[Anonymous]

I don't have experience with reconing with Capital one. But my first  $5000 card was my Venture. I did have other experience with Capital one though. Do you have other Cap1 cards? If I were you, I would apply for the Venture 1 and then upgrade in a couple months.