Venture Denial

[Anonymous]

Hi all! New posting here but I have been lurking for a while.

Anyways, I apped for the Cap One Venture the other day and was denied. I figured I was 50/50 on approval anyway, so a denial wasn't shocking. I was, however, surprised by the reasons I was denied that they outlined in the letter I got in the mail.

TU- not enough experience with high credit lines
EX- not enough experience with high credit lines
EQ- not enough experience with high credit lines

Have any of you folks had that come up in a denial letter?

I was just approved for a Discover IT card with an $8500 limit two weeks ago but it hasn't posted on my reports yet.

[chalupaman]

---

@Anonymous wrote:
Hi all! New posting here but I have been lurking for a while.

Anyways, I apped for the Cap One Venture the other day and was denied. I figured I was 50/50 on approval anyway, so a denial wasn't shocking. I was, however, surprised by the reasons I was denied that they outlined in the letter I got in the mail.

TU- not enough experience with high credit lines
EX- not enough experience with high credit lines
EQ- not enough experience with high credit lines

Have any of you folks had that come up in a denial letter?

I was just approved for a Discover IT card with an $8500 limit two weeks ago but it hasn't posted on my reports yet.

---

What are the limits on the rest of your cards? How long have you been using credit?

[Anonymous]

9000 on care credit
3500 on two Cap One Plats
2000 Chase Freedom
1500 BoA
4500 on Kroger 123 US Bank Card
2500 on Walmart card

Oldest account is 8.5 years, AAoA is 3.5 years

[lincar66]

They just don't like you lol I've seen alot worse get a lot more lol.....

[Booboo71]

Get an Amex its better.

[roniram]

I was turned down for the same reasons.  As with many things, YMMV. 

I contacted Capital One EO via email, and they called me.  I told them that I have been woth Capital One for 5 years with by old HSBC card and two years with another card, and have proven that I make my payments on time. Although I have high utilization, I asked them to reconsider.  They told me I would get an email response in about 7-10 business days, and I spoke to them on Friday.   So, we will see if they are willing to reconsider.

My lines of credit are lower than yours, so you may want to try for a reconsideration and see what they say, because they seem to be wrong in your case.  In my case, I don't, but since I have a long history with them, I'm hoping that will make a difference.

[Anonymous]

Eventhough you been with them for a while, if you keep using more than 50% utilization it doesn't look good for you.  You want to keep your utilization under 30% with each card you have with CapOne.  Other than that, you can look else where like Citi, Amex, Chase which usually gives more credit than CapOne anyways.

[chalupaman]

---

@Anonymous wrote:
9000 on care credit
3500 on two Cap One Plats
2000 Chase Freedom
1500 BoA
4500 on Kroger 123 US Bank Card
2500 on Walmart card

Oldest account is 8.5 years, AAoA is 3.5 years

---

That's really strange. I think you could get a CSP though with that kind of profile easy. 

Also you can recon the denial with the CapOne EO if you still want the card.

[Anonymous]

Thank you all for the replies. I think I will just let that Discover card hit my reports and get my utilitization down a bit more before I apply again. I still want the card!

[chalupaman]

Good luck then. I hope you do get the card in the future. It's thankfully not going anywhere. You have plenty of time.