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Cap1 - Double approval (and pull insight)

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Cap1 - Double approval (and pull insight)

Apped for and was approved yesterday for two Capital One cards. First was QuicksilverOne, instantly approved for a much higher limit ($3k) than I expected, and so I decided to take a shot at one of their co-branded (Playstation) cards, and hit instant approval for $1k. Again, at least double what I expected, and with better terms (20.9%, six months 0%) than expected. Timeline for all of this once I got up the nerve to pull the trigger was less than five minutes. I did get a preapproval on their website for the QuicksilverOne and applied through that.

Immediately started getting credit alerts on applying. Only one pull showed up on Experian and Equifax. Two pulls showed up on TU, so it’s clear (in my mind anyway) that they hard pulled twice, but the bureaus decided to count it as one. The next day however, TU had removed the second inquiry, so it ultimately counted as a single pull across all three bureaus.

Notable items in profile: Three unpaid cc charge offs from 2014 totalling $11k (from other “prime” banks), one that reports NP every month and still counts as utilization for FICO (keeping it at better than 90% even if all my active accounts have no balance), 2 yrs 11 months since last negative status. Two Capital One cards from ages ago (both 1k, one a Best Buy store card, both paid religiously and both closed by me for having ridiculous terms).

Having had three positive tradelines with Cap1 either currently or in the past helped with this, I feel, but I think I’m done applying anywhere for awhile, as this more than meets my needs, while I work on fixing what’s bad.

I’ve had a Cap1 secured ($500) for 18 months, always on time, usually over the minimum payment, usually carry a balance, but have been PIF in several payments for the last three months.

I’ve also had a Synchrony Amazon account for one year, ($600, still at SL), and when I’ve tried to get CLI through the website, even for small amounts, it rejects me with a veritable laundry list of reasons, so I’ve been too embarrassed to call and speak to a rep. It also set my expectations pretty low.

Scores at the time of apps were between 636-645 Vantage for each bureau, 633 FICO 8 Experian.
  
    
8 REPLIES 8
Community Leader
Super Contributor

Re: Cap1 - Double approval (and pull insight)

Big GratsSmiley Happy Excellent data points givenSmiley Happy
#ChaseCreditCardHobby Enthusiast
2022
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Message 2 of 9
Moderator

Re: Cap1 - Double approval (and pull insight)

Very interesting as thought Cap1 only allowed one card every 6 months... Suppose co-branded aka Sony card or whatever the other card you mentioned is co-branded and might not follow that rule.  Anyways congrats on the approvals

Message 3 of 9
Valued Member

Re: Cap1 - Double approval (and pull insight)

Regarding your Synchrony Amazon CLI, use the chat feature while logged into your account. It may say chat is unavailable, but I clicked on it anyway on Wednesday and was able to start a chat.  I opened my Amazon 9/20/17 with a SL of $1.1K. Tried to get a CLI about a month later using the button and was denied. On the chat, I was approved for a CLI to $4K.  At the time, I had a balance of about $300 and neither of my two payments were a PIF.

Message 4 of 9
Established Contributor

Re: Cap1 - Double approval (and pull insight)

Great successes everywhere! I feel the love!

Message 5 of 9
Established Member

Re: Cap1 - Double approval (and pull insight)


@CreditCuriousity wrote:

Very interesting as thought Cap1 only allowed one card every 6 months... Suppose co-branded aka Sony card or whatever the other card you mentioned is co-branded and might not follow that rule.  Anyways congrats on the approvals


Thanks! 

I was curious about this, so I went back and went through the app details again. 

The QS1 app has exclusionary statements that you can't have already submitted two applications in the last 30 days, and you can't already have two or more open Capital One accounts (I had one at the time of application, the secured). The Playstation card has the same "two applications in 30 days" limit, but also adds the exclusion that you can't have another Sony card open or a pending application for one, and you can't have 5 or more open Capital One cards. I'm curious if I'd have been able to get the QS1 if I'd applied for the Sony first, given that would technically put me at two Capital One accounts. 

Doesn't seem to be anything on the apps about accounts being opened in the last 6 months, unless that's an internal thing or something related to their more "high end" cards.

  
    
Message 6 of 9
Established Member

Re: Cap1 - Double approval (and pull insight)


@fmctatum wrote:

Regarding your Synchrony Amazon CLI, use the chat feature while logged into your account. It may say chat is unavailable, but I clicked on it anyway on Wednesday and was able to start a chat.  I opened my Amazon 9/20/17 with a SL of $1.1K. Tried to get a CLI about a month later using the button and was denied. On the chat, I was approved for a CLI to $4K.  At the time, I had a balance of about $300 and neither of my two payments were a PIF.


I may give this another shot in a few months once my new accounts and utilization are posting, but I have a hard time talking to a human person (even one that I can't see or hear) about extending me additional credit with 11k of charge-offs sitting there. Just a personal hurdle I need to work on overcoming Smiley Embarassed

  
    
Message 7 of 9
Super Contributor

Re: Cap1 - Double approval (and pull insight)

Congratulations on your new cards!






Message 8 of 9
Regular Contributor

Re: Cap1 - Double approval (and pull insight)

Congrats on the approvals! Its awesome you were able to get two. I have never heard of the playstation card. I'll have to look it up.

I totally understand not wanting to talk to anyone. When I started a chat to increase my Walmart card CL they told me Id have to call in. I was freaked out and was such a dork about it because I basically sat in my car so nobody could hear me asking. At the time I was super new to credit, just an cosign auto and my oldest card was like 4 months so I was scared Id get denied because of that. Then after I did it and was approved for 6k no counter I was super happy I did it.

I still havent called back to get it raised again and its such an easy thing but it just gives me anxiety so I just keep it at the current limit.
Message 9 of 9
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