I was approved for a Capital One Venture One Card. Even more I was shocked that I was given a $20K credit limit. I actually received the card over the weekend.
Today I received the actual approval welcome letter and it showed me the credit score and APR. While my Experian FICO 8 Score at time of approval was over 750+ the Experian Score on the Credit Score Disclosure Notice was 648. I am assuming they used my FICO Score 3 which is commonly used in credit card lending because my Experian Score has been in the 700s for a while now. I was very surprised that they used the FICO Score 3 but even more surprised I was given a $20K limit and a 0% introductory APR for the first 12 months and a 12.99% APR after that.
Is a 648 Experian FICO Score 3 good? I will take the low APR but surprised if they are scoring me at 648.
Very happy but still surprised. Thoughts?
Never look a gift horse in the mouth.... Big grats
