Why does cap 1 reject me?!

[907grown]

my scores are in the 670-700 range, just like so many others. When I apped with cap 1 they gave me a venture one with a 3000 SL, granted they doubled it with CLI request last week, about 75 days in, and rejected me for QS. I have never burned Cap 1, income is good, had a QS1 that I paid perfectly on and closed it in good standing. So I don't know why they give some 10 and 15 SL and me just 3. 

Am I scary?😈

[Anonymous]

 Sorry to hear that.  In my opinion its all about your behavior. Your card is under 3 months old. You also  requested and received a CLI last week.  Now you are asking for more credit by applying for a new card.  This may have made them a bit nervous. 

[Anonymous]

Did you apply for venture one? I think quicksilver one and venture ones are lower end and those cards max starting limits are 3k.

[907grown]

I did the 2 window app. Apped for QS and Venture one at the same time. As said, I've never burned them. I've had a platinum for a couple years when my credit was ad, performed very well with that and closed it in good standing, then in 2013, got a QS 1, did very well and closed in good standing. The only reason I have this cap1 card was because of the bandwagon. Just can't understand why they don't trust me!!

[Anonymous]

You should have tried for the regular Venture instead as those starting limits are the higher ones.  I was approved for $30K in June (no PQ) for the lowest APR, my wife was just recently approved for $15K (she did have PQ) for the middle APR.  We both had FICO ranging from 610 to 650 when applying.

[Anonymous]

Maybe they thought "well... He's going to close the account anyway." 😁

[907grown]

Wow. Well since I currently have the venture 1 at 0%, I will wait until next spring before apping for another. I will hopefully just get another few SP CLI. I have all my utility bills hitting venture, and I'm paying it twice a month.

[Broke_Triathlete]

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@907grown wrote:

I did the 2 window app. Apped for QS and Venture one at the same time. As said, I've never burned them. I've had a platinum for a couple years when my credit was ad, performed very well with that and closed it in good standing, then in 2013, got a QS 1, did very well and closed in good standing. The only reason I have this cap1 card was because of the bandwagon. Just can't understand why they don't trust me!!

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Keep in mind that your Venture was approved on FICO 4 and your QS was denied on FICO 8. Your 4 scores are probably higher than you 8 which got you in the door with V1 but not QS. I'd think you'd have a good shot to apply and be approved for Venture, but since you got the lowest limit on V1 you're probably going to get the lowest for Venture! Do you need another card? If not garden for 6 months and get a CLI on the V1.

[Callandra]

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@907grown wrote:

my scores are in the 670-700 range, just like so many others. When I apped with cap 1 they gave me a venture one with a 3000 SL, granted they doubled it with CLI request last week, about 75 days in, and rejected me for QS. I have never burned Cap 1, income is good, had a QS1 that I paid perfectly on and closed it in good standing. So I don't know why they give some 10 and 15 SL and me just 3. 

Am I scary?😈

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What were the reasons in the letter for the QS denial?

To be honest, your scores are okay but just okay. You have quite a bit of credit already so they might feel that you have enough credit for your income/credit file at this time. Wait 6-12 months and try again. Good luck. 

[DaveInAZ]

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@Anonymous wrote:
Maybe they thought "well... He's going to close the account anyway." 😁

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That's what I was thinking as well. The OP has closed 2 accounts in recent years and Cap One - and most CCCs - don't like folks closing accounts and then app'ing for new ones. They want account holders that stick with them for years. You should have PC'd those cards to ones you wanted, or just sock drawert them and app for the one you want, you can have a bunch of cards from Cap One.And with the current spend bonuses & intro 0% for QS & Venture, they're probably on the watch for folks that close accounts regularly, they don't want folks who get the spend bonus, use the 0%, and then close the account, they lose $$$ on  that..