cap one Venture X declined

[cgn11963]

To be honest just getting card for the 100k points for bus class plane tix.  But seriously, 830 scores across the board. No new cards or inquiries since 2020. Just 1 new card in the last 2 years. over 350k income and declined. Just got the email... too many revolving accounts. 4 amex cards 2 charge and 2 revolvers. 3 chase cards. A Discover ,a citi Prestige and a citi AA executive. And a NFCU flagship. No store cards. Utilization at 1% with 340K total credit lines. Only loan is through BMW for a car. over 2 yrs old. 

Inquiries 1/24 with 1 new card.

The only reason I did this is the 100k is gone on 3/14.

How does this happen?

[KingPredator]

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@cgn11963 wrote:

To be honest just getting card for the 100k points for bus class plane tix.  But seriously, 830 scores across the board. No new cards or inquiries since 2020. Just 1 new card in the last 2 years. over 350k income and declined. Just got the email... too many revolving accounts. 4 amex cards 2 charge and 2 revolvers. 3 chase cards. A Discover ,a citi Prestige and a citi AA executive. And a NFCU flagship. No store cards. Utilization at 1% with 340K total credit lines. Only loan is through BMW for a car. over 2 yrs old. 

Inquiries 1/24 with 1 new card.

The only reason I did this is the 100k is gone on 3/14.

How does this happen?

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Wow this one is definitely a head scratcher, in my opinion the reason given is total BS. I'm sorry it didn't yield the results you were hoping for.

[FinStar]

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@cgn11963 wrote:

To be honest just getting card for the 100k points for bus class plane tix.  But seriously, 830 scores across the board. No new cards or inquiries since 2020. Just 1 new card in the last 2 years. over 350k income and declined. Just got the email... too many revolving accounts. 4 amex cards 2 charge and 2 revolvers. 3 chase cards. A Discover ,a citi Prestige and a citi AA executive. And a NFCU flagship. No store cards. Utilization at 1% with 340K total credit lines. Only loan is through BMW for a car. over 2 yrs old. 

Inquiries 1/24 with 1 new card.

The only reason I did this is the 100k is gone on 3/14.

How does this happen?

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Unfortunately, you might not be their target customer. They have been somewhat pretty selective on who gets approved for it. It doesn't matter if your scores are >800, 1% utilization or modest income.

[cgn11963]

What is the target customer? 

[FinStar]

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@cgn11963 wrote:

What is the target customer? 

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Only Capital One knows -- specific for this product.

The reason given is not really wrong, while most may feel it's "BS" or an excuse. I'm aware that you cut a fair amount of TCL back in 2020, but in their [algorithm] eyes, they may feel you have a lot of revolving accounts for their taste, regardless if your limits are in the $30K-$50K range and the income to support it. Sometimes it can translate into not being a long term profitable customer and/or just churning the card.

[Borealis]

Bummer! We win some, we lose some, I guess. 

[cgn11963]

honestly it would be just churning a card for me. No reason to keep it other than the sign up bonus

[FinStar]

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@cgn11963 wrote:

honestly it would be just churning a card for me. No reason to keep it other than the sign up bonus

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There's your answer.

They saved themselves paying out a SUB, you save yourself an AAoA ding.

You'd be very surprised how much AI technology knows about an individual.

[CreditCrusader]

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@FinStar wrote:

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@cgn11963 wrote:

honestly it would be just churning a card for me. No reason to keep it other than the sign up bonus

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There's your answer.

They saved themselves paying out a SUB, you save yourself an AAoA ding.

You'd be very surprised how much AI technology knows about an individual.

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Add that to the fact that trying to figure out what Cap 1 wants is like nailing Jello to the wall and you have the head-scratching reality that is your denial.

Their card sits in my sock drawer with a few friends for reasons such as this.

[CreditInspired]

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@FinStar wrote:

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@cgn11963 wrote:

honestly it would be just churning a card for me. No reason to keep it other than the sign up bonus

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There's your answer.

They saved themselves paying out a SUB, you save yourself an AAoA ding.

You'd be very surprised how much AI technology knows about an individual.

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Took the words right out of my mouth 😂🤣😆