What is my chance of getting approved for Venture or Barclay?

[Anonymous]

Nooooo! Lol in all seriousness, I'm too chicken to apply without a pre-qualify. Triple pull denial is something I really could do without haha

[TheConstant]

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@dapps06 wrote:

I was approved about two weeks ago for the Venture with a 10k limit, my profiles have changed in the past two weeks but at the time of application they looked like this:

- 35k salary

- 13/10/10 inquiries from EX/EQ/TU respectively

- 33% utilization across the board, over 70% on two cards, my Chase Freedom and one of my Cap 1 Quicksilver's, zero balances on the rest.

- 6 years AAoA

- On EQ I have one charge off and one collection account, these two accounts no longer exist on EX/TU

- All three profiles I have a settled WF auto loan from five years ago with many 30 day late payments and two 60 day lates

- One 90 day late payment from Sallie Mae from six years ago

- I already had four Cap 1 cards when I applied, after approval I called and closed the Platinum Prestige.

I DID have a pre approval for this card on their website before I applied. Hope this helps. 

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I don't get it.

I was denied for Venture, and I consistently charge and PIF $1k+ a month...

Mine:

-44k 

- AAoA = 3Y 7M

- 1 Open CO = Wells Fargo, $260 remaining CO in June 2013. No settlement, fully paid.

- 1 Open Collection = Berks Credit and Collections, $30 Medical, . From July 2011.

^ CA not reported to TU (Barclays didn't see it)

@- 2 Open CC's = CapOne, 2 months old @ $500 CL and 6 months old at $3300

- Util = 5%

- 12 open accounts on TU, 14 on others

- Many 30, 60, 90, some 120, day lates, all are from December 2013 and earlier. No payments on any account have been missed since December 2013.

- INQ's = 5 EQ, 2 TU, 3 EX

Well, maybe things like the lates and whatnot.

^Oh well, OP, I hope I can help you come to a decision with my stats above

By the way, I was denied Barclays too. Only, on Barclays recon, they stated the reason was because I didn't have enough credit card history (only 7 months oldest card at the time).

P.S. Don't listen to CK for approval odds

[redpat]

I didn't have pre-qua, risk and reward for a great SL starting at 5k, no other CCC is giving out these large limits right now except Cap One.

[TheConstant]

Because my new thread may help the OP here: http://ficoforums.myfico.com/t5/Credit-Cards/FYI-Cap-One-using-FICO-3-score-for-Venture-Apps/td-p/39...

[Anonymous]

I was approved for $5k on Venture about two weeks ago...

- Income around $85k

- AAoA = 2Y 11M

- No COs, collections, or lates.

- Util = 17%

- 10-12 open accounts (depending on the bureau)

- 12-14 INQ's (depending on the bureau)

ETA: one of the scores they pulled, according to the disclosure, was 714. And I had no pre-qual!

[redpat]

Huh, but there are two trains.  The train of those with scores of 640 - 699, that train has left the station.  

The train with scores of 700 and above will and should stay for along time.  This will balance their risk.

It looks like they had a certain amount of risk capital and now they are balancing their portfolio and going back to their original approval standards.

imo.

[kdm31091]

Having a preapproval means little. People with preapprovals still get declined sometimes.

Nobody can really honestly tell you your chances for approval because we cannot see your credit file. There are so many factors that go into it, and this is why several people who are told "you'lll be approved no problem" are not. It's because we are not able to see the whole picture. We can only tell you who was approved and with what score, but that is not especially meaningful considering some got approved for a high limit with a relatively lower score, and the higher scores weren't always indicative of a huge limit.

My point is there is no definite answer and if you want something and feel your profile supports it you should just apply, regardless of a forum's recommendation or a prequal. You can always try and recon.