Venture One, Excellent credit?

[jbishop1001]

On the cap 1 website both venture cards are for excellent credit. Theirdescription is no major derogs in a year and a loan/card opened for 3 years over $5000. Well, my utility has reported for 3+ years but my cards are only a year and none of them near $5000. Should I not bother? I thought my scores might be good enough, but now I'm doubting it.

[Anonymous]

You don't have to have excellent credit to get approved for the venture One or any of their cards.  Also, you don't have to have cards over $5K to get one for that amount or higher

[Anonymous]

If you're prequaled and already a capital one customer, I'd say your chances are very good

[CreditCuriosity]

Cap1 deffinition of excelled credit is very different from other lenders as Irish stated nor do you have to have a 5k limit already...  You have a decent shot, a great shot if pre-qualiifed.

[Boragard]

If you want it, i say try it.  i don't have excellent credit.  I was approved for a QS1 in 2013, got upgraded to QS six months later via EO.  He said I could upgrade to Venture, Ventureone, or QS.  I chose QS.   I later applied for Venture and got a massive CL!  I still have an active charge off reporting, even though its old and about to fall off.

[jbishop1001]

The only bad mark on my reports are on eq and ex. They are 2 120+ lates on the same account from a year and 3 months ago. The account is currently pays as agreed and has been positive since. I have no collections, no public records. 5 accounts total, 4 revolving (1 store card) . $5200 total limit. 6% utl overall

[Anonymous]

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@jbishop1001 wrote:

The only bad mark on my reports are on eq and ex. They are 2 120+ lates on the same account from a year and 3 months ago. The account is currently pays as agreed and has been positive since. I have no collections, no public records. 5 accounts total, 4 revolving (1 store card) . $5200 total limit. 6% utl overall

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That's what is killing your scores on those two.  Those are recent 120 day lates and unfortunately will affect your scores for a long time to come

[jbishop1001]

Yes, but how much will those lates affect me being approved for different cards? They will be at 1 year 6 months when I start applying.

[Anonymous]

I got approved for the Venture last week with a $15K CL and a QS with a $5K CL, when my highest limit at the time was only $2.5k on a card that I've had less than a year, so that 3 years with a $5k card is BS.

My scores are pretty close to yours, with the exception of TU.        EQ - 656 TU - 663 - 670

I also have more lates than I'd care to admit, which are about two years old. Just check the pre-qual, if you're prequalified, just go for it.

[Existentialist]

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@jbishop1001 wrote:

On the cap 1 website both venture cards are for excellent credit. Theirdescription is no major derogs in a year and a loan/card opened for 3 years over $5000. Well, my utility has reported for 3+ years but my cards are only a year and none of them near $5000. Should I not bother? I thought my scores might be good enough, but now I'm doubting it.

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Just a few things to consider in advance of app'ing: First the Venture has slightly better benny's but the V1 has no AF so which is more important to U? Is there a particular reason you've targeted the V1 relative to other travel rewards cards? Is this a card U feel U need or just looking to add to your portfolio? Observing your scores I dont believe that will be an overwhelming factor.  But I also think its best to ask addtl questions sometimes to insure ppl are totally comfortable with their app decision. Just dont feel overly pressed to make it. And despite what anyone else says about your chances for approval the main ? U need to ask yourself is are U okay app'ing with the possibility that U may NOT be approved? If the answer is yes then fine. Whatever U ultimately decide... best of luck.