This is a huge deal to me.
Bit of background, been rebuilding credit since July of last year. Started with Cap1 Secured Platinum for $200. In October I was approved for a Cap1 Quicksilver One, $500. I was content with those for a while but got a pre-aproval in the mail for Citibank Double Cashback card so decided to give it a go - $800 approval. Then Discover It came calling and I decided to give it a go and was shocked by $1800 credit line. All cards are paid in full each month, I rotate a bill on each card (and restauraunts always Discover for the current 5% cash back).
Planned to garden until today, when I got an offer for the Capital One Buy Reward card. I had zero interest but it made me go into my Credit Karama account (been a while since I use MyFico) and was told the Cap1 VentureOne card was one I now had fair chance of getting, was always poor before. I am planning to go to England in the next year or two so thought this would help. Instant approval for $3000, my largest starting credit line yet.
I'm shocked I got a card that says you need "excellent credit" when my scores are in the mid-600's. Only one baddie, a judgement due to fall off next year, and 10 hard pull but keep utilization under 10% and zero late payments so I guess that helped??
Also, I'm thinking of combining my Quicksilver into my Venture in 6 months when it's alloed because I have a few better cash back cards now, would like the higer limit on the Venture.
Scores as of today - Exp - 654 Trans - 636 Equi - 648
|Total Credit: $240,100||Credit Utilization: 1%||AAoA: 5 years, 7 months||Installments: Car Lease, Marcus Loan||Negatives: 0|
my aunt is less than a year past her ch7 discharge. she started her rebuilding process with a credit score of 661 and got a venture one card with a 10k credit line.
capital one was critical in my rebuilding process. i love capitalone. i dont know why cap1 says excellent credit required but im glad they are forgiving.
treat it good, and cap1 will be good to you. i got my first CLI after 2 months of having the venture and its been every 6 months thereafter to my current CL of 32k. congrats on your venture card! i wish you continued success in your rebuilding process :-)