What are the rules for Cap1 apps?

[biff-henderson]

Tried searching, but couldn't locate too many posts with specific info. What are Cap1's app rules?

I've seen they only allow 2 sub-prime cards and 5 prime cards. Are these the only rules? I currentlyhave a Platnum and a QS. Does just having the Platinum put me at "too many accounts"? In Sept I hit up the prequal tool just to see what's offered, and all of the sub-prime cards, and QS. 

Now, after a mini-app spree, I get nothing. Could this change once my QS ages past a year?

My reason for asking, is I *really* like the new VentureX. It meets my needs, without the extra complications that come with the Amex or the other ecosystems. I know I woudln't have a chance now, but after gardening for a while, maybe?

TIA

B.

[FinStar]

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@biff-henderson wrote:

Tried searching, but couldn't locate too many posts with specific info. What are Cap1's app rules?

I've seen they only allow 2 sub-prime cards and 5 prime cards. Are these the only rules? I currentlyhave a Platnum and a QS. Does just having the Platinum put me at "too many accounts"? In Sept I hit up the prequal tool just to see what's offered, and all of the sub-prime cards, and QS. 

Now, after a mini-app spree, I get nothing. Could this change once my QS ages past a year?

My reason for asking, is I *really* like the new VentureX. It meets my needs, without the extra complications that come with the Amex or the other ecosystems. I know I woudln't have a chance now, but after gardening for a while, maybe?

TIA

B.

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As far as the number of cards per credit tier criteria, you should be fine. How old are the two Capital One cards and what are their limits?

[Anonymous]

My own experience with a PreQual while holding a QS and QS1 at the time was a Denial for "Too many CapOne Accounts". At the time I did have a Saks First co-branded as well. I called a CSR and the rep seemed unsure as to what triggered the denial reason. Further research yielded a Max "Legacy" # of 2 and co-branded as unstated. No reference to Prime/Sub-Prime. Currently have 2 Legacy and 2 co-branded (Saks, Walmart MC). For what it's worth I have yet to see anyone with >2 Legacy Cap One cards on this forum.

[biff-henderson]

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@FinStar wrote:

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@biff-henderson wrote:

Tried searching, but couldn't locate too many posts with specific info. What are Cap1's app rules?

I've seen they only allow 2 sub-prime cards and 5 prime cards. Are these the only rules? I currentlyhave a Platnum and a QS. Does just having the Platinum put me at "too many accounts"? In Sept I hit up the prequal tool just to see what's offered, and all of the sub-prime cards, and QS. 

Now, after a mini-app spree, I get nothing. Could this change once my QS ages past a year?

My reason for asking, is I *really* like the new VentureX. It meets my needs, without the extra complications that come with the Amex or the other ecosystems. I know I woudln't have a chance now, but after gardening for a while, maybe?

TIA

B.

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As far as the number of cards per credit tier criteria, you should be fine. How old are the two Capital One cards and what are their limits?

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The Platinum I've had about 14yrs, the QS will be a year in March.

B.

[FinStar]

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@biff-henderson wrote:

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@FinStar wrote:

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@biff-henderson wrote:

Tried searching, but couldn't locate too many posts with specific info. What are Cap1's app rules?

I've seen they only allow 2 sub-prime cards and 5 prime cards. Are these the only rules? I currentlyhave a Platnum and a QS. Does just having the Platinum put me at "too many accounts"? In Sept I hit up the prequal tool just to see what's offered, and all of the sub-prime cards, and QS. 

Now, after a mini-app spree, I get nothing. Could this change once my QS ages past a year?

My reason for asking, is I *really* like the new VentureX. It meets my needs, without the extra complications that come with the Amex or the other ecosystems. I know I woudln't have a chance now, but after gardening for a while, maybe?

TIA

B.

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As far as the number of cards per credit tier criteria, you should be fine. How old are the two Capital One cards and what are their limits?

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The Platinum I've had about 14yrs, the QS will be a year in March.

B.

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Ok, you should be ok then. Not knowing much about the limits on your current cards, it's hard to say what the odds would be. Now, keep in mind the triple-whipple if you decide to apply for Venture X.

[wingennis]

Capital One is so unpredictable.  Once you establish some rules, they do the opposite.  I haven't been able to find any rhyme or reason in their approvals or denials.

[FinStar]

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@wingennis wrote:

Capital One is so unpredictable.  Once you establish some rules, they do the opposite.  I haven't been able to find any rhyme or reason in their approvals or denials.

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And, just when folks thought they've reverse-engineered the process or rules, it flops. Some lenders like a little bit of mystery!