Venture X preapproved but denial when applied

[MarkintheHV]

I just went went through their preapporval for the Venture X and I got the same message.  Too many open accounts.  What I have open is in my signature.

[CreditCuriosity]

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@MarkintheHV wrote:

I just went went through their preapporval for the Venture X and I got the same message.  Too many open accounts.  What I have open is in my signature.

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Makes no sense.. How old are accounts in signature being when opened etc?   You don't have obscene amount of credit.  My retired parents have 3x amont of credit cards as you have and when I tell them to go after a nice bonus they usually will if it is juicy enough and get approved although never told them to go for a cap1 card just chase and the likes when subs are elevated heavily.

[Zoostation1]

@CreditCuriosityMaybe it's the CL per account, even if the total available credit isn't crazy high?  Anecdotally it seems like the algorithm for VX seems to favor those who have relatively few cards with strong limits (maybe even fewer yet if the limits are really good like NFCU can get to), and those who already give Cap One a significant portion of their spend.  Maybe there's something to it, maybe it's nothing more than speculation on my part.

[OscarsMom]

I suspect those underwriters are just casting about for a box to check when they give a denial that doesn't fit neatly into a given category. 

[OscarsMom]

Well, my disappointment continues. I got alerts today via this site that my EQ score dropped 15 points and my TU dropped 22 points because Cap One reported I used a crappy $137 on the card. They had already reported after my closing statement, so this is a mid-cycle report, which they've done even when I've literally used $4.99 to rent a movie on Amazon. Time to pay them off and sock drawer the card for a while. I'm sure next they'll cancel me for not using the card enough. It's a no-win situation.

[MarkintheHV]

Quite a bit of this doensn't make sense to me.  My accounts are between 3 and 5 years old.  All are pretty much PIF each month, so not sure what they are thinking.  Oh well, I really dont need the VX, was just doing to prequal to see if I would get the same denials as the original poster.

[Klineact]

I have had a cap one card since 2017 perfect history. It has an $1100 limit. Perfect history 6 figure income, scores in high 700's no lates no bads nothing. They will NOT increase my limit on this card despite me having 20K limits on other cards and 3% util.   I will be closing in the next couple weeks bc I cant ever use the card. I did in the past and paid it off monthly trying to get it raised but they hate me so I just give up. The one time I got an increase it was literally $100.00  I wanted the venture card and was pre approved for it also but they will likely decline me so I am not wasting any time with them anymore. Many better banks out there who dont want to pull 3 bureaus for $500 limit cards. Preposterous!