Venture approved, Quicksilver Denied

Anonymous · ‎05-20-2015

So I got the Venture with a 5,000 credit limit, 17.9 APR. And I applied for the Quicksilver Visa RIGHT after that. 7-10 day notice saying they needed more time. Got the secure message this morning saying this: Thank you for applying for a credit card issued by Capital One®. Unfortunately, after reviewing your application and information obtained from your consumer credit report(s) from the agencies detailed on the back of this letter - we cannot approve your request at this time. The reason(s) for our decision are: Based on your credit report from Trans Union, insufficient experience with high lines of credit or credit amounts Based on your credit report from Experian, balance owed on delinquent past or present credit obligation(s) is too high Based on your credit report from one or more of the agencies on the back of this letter, financial obligations are too high compared to income Based on your credit report from one or more of the agencies on the back of this letter, there are too many delinquent past or present credit obligations If you feel we missed something or misread your information, then please write to us at P.O. Box 30280, Salt Lake City, UT 84130-0280 and include your Application ID number referenced above. (Please note: we recommend you contact the credit agencies first to ensure they have accurately reported your information to us. Contact information is provided on the back of this letter.) We know this isn't the answer you were hoping for, but we hope there is an opportunity to provide you new products and services in the future. *000000001* Sincerely, Capital One Customer Care Team. I'm like huh? Venture but no QS? Ok lol

Anonymous · ‎05-20-2015

SecretAzure · ‎05-20-2015

Wow this is really interesting. It's almost as if they're saying the Venture has a lower requirement than QS even though they usually get higher limits.

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Anonymous · ‎05-20-2015

That is crazy! I just took the Venture and opted to not get the QS as I had feeling after the 10k SL with 17.9% would yield for QS to be lower and higher APR.

SecretAzure · ‎05-20-2015

@Anonymous wrote:
That is crazy! I just took the Venture and opted to not get the QS as I had feeling after the 10k SL with 17.9% would yield for QS to be lower and higher APR.

I know I don't need Venture as I don't travel much but if I did, this would be one of the furthest cards down the list to look at (for me). I don't really need a high limit card with such a high interest. I have a low enough interest rate on my BCE and that already has a CL of 18K+ (with more on the way). OP if you are planning on carrying a balance I really would not look at Venture. Bananas1 is correct in saying QS is probably a better fit for you.

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MC

Must garden until 2/1/2022 to hit my goal AAOA.

Anonymous · ‎05-20-2015

@SecretAzure wrote:
@Anonymous wrote:
That is crazy! I just took the Venture and opted to not get the QS as I had feeling after the 10k SL with 17.9% would yield for QS to be lower and higher APR.
I know I don't need Venture as I don't travel much but if I did, this would be one of the furthest cards down the list to look at (for me). I don't really need a high limit card with such a high interest. I have a low enough interest rate on my BCE and that already has a CL of 18K+ (with more on the way). OP if you are planning on carrying a balance I really would not look at Venture. Bananas1 is correct in saying QS is probably a better fit for you.

I think your response was supposed to go in another post? no?!

SecretAzure · ‎05-20-2015

@Anonymous wrote:
@SecretAzure wrote:
@Anonymous wrote:
That is crazy! I just took the Venture and opted to not get the QS as I had feeling after the 10k SL with 17.9% would yield for QS to be lower and higher APR.
I know I don't need Venture as I don't travel much but if I did, this would be one of the furthest cards down the list to look at (for me). I don't really need a high limit card with such a high interest. I have a low enough interest rate on my BCE and that already has a CL of 18K+ (with more on the way). OP if you are planning on carrying a balance I really would not look at Venture. Bananas1 is correct in saying QS is probably a better fit for you.
I think your response was supposed to go in another post? no?!

Probably. Disregard it if it makes no sense LOL. Too many tabs and too many work distractions.

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MC

Must garden until 2/1/2022 to hit my goal AAOA.

Anonymous · ‎05-20-2015

Yeah I should have gardened until August. EQ had one CO and EX had a collection. They would have been gone. Plus my credit steps cards would have been finished next month. Oh well, I went with the strike while the iron is hot method because of the Pre-approvals. Got the Venture. Only one triple pull though thankfully haha. Does this seem right to guys though? I'm guessing that 5,000 may have just been my internal limit with them at this time, but I don't really know that for sure.

Anonymous · ‎05-20-2015

interesting~

NRB525 · ‎05-20-2015

@Anonymous wrote:
Yeah I should have gardened until August. EQ had one CO and EX had a collection. They would have been gone. Plus my credit steps cards would have been finished next month. Oh well, I went with the strike while the iron is hot method because of the Pre-approvals. Got the Venture. Only one triple pull though thankfully haha. Does this seem right to guys though? I'm guessing that 5,000 may have just been my internal limit with them at this time, but I don't really know that for sure.

Congratulations on getting the Venture. I would agree you seem to have used your internal limit at present on this card.

With all those future updates that will brighten your file, plus the bonus spend and PIF you have with the Venture, you should be well placed if you decide to try for QS again later this year.