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Hi All,
Interesting outcome when I attempted to get a recon for this Capital One Venture card I applied for. So, I'm still rebuilding my credit and I've been attempting to add another card to my current Capital One Quicksilver One card. I applied for a Chase Freedom, denied. I applied for Discover IT, denied. I applied for Amex Blue Pref, denied. Told myself enough is enough and I should probably just go to the garden. Instead I was on CK, and noticed it said my approval odds for a Capital One Venture card were "very good." Now, I've been lurking on myFico long enough to know very well that I should have took that with a grain of salt but instead I applied anyway. Instantly denied. Called one of the backdoor numbers and the nice gentleman basically told me in a nice way no point in reconsideration, but before hanging up, he asked why I wanted the card and I told him for the "travel benefits" (not entirely true). He then said there may be a slight chance they could upgrade my current card. After tranferring me, they gave me the option to upgrade my card to the Venture One Capital Card, I accepted. I lost my cash back benefits, but I feel this is a better card so that's a win. Only problem is I still only have one CC. Trying to decide if I should apply for the Capital One Quicksilver card again or a CapOne Plat. Or if I should maybe just wait it out?
How long have you had the cap 1? What are the reasons for your denials?
I've had the Cap One card since March 2015 and the reasons for my denials are "The time since your latest reported derogatory public record or collection is too recent." "The number of accounts that have or had a delinquency." and "The ratio of loan balances to the loan amounts is too high."
First, CapOne don't recon. Second, if you try to apply again they'll just deny you (without pulling a report) with the reason being that you've recently applied. Third, as long as you're happy with the VentureOne card that's all that matter. BUT, what you really did was traded a 1.5% cash back card with no redemption requirements for a 1.25% cashback card that can only be redeemed for travel related purchases. I guess if there is a positive, you at least ditched the annual fee.
@Anonymous wrote:Hi All,
Interesting outcome when I attempted to get a recon for this Capital One Venture card I applied for. So, I'm still rebuilding my credit and I've been attempting to add another card to my current Capital One Quicksilver One card. I applied for a Chase Freedom, denied. I applied for Discover IT, denied. I applied for Amex Blue Pref, denied. Told myself enough is enough and I should probably just go to the garden. Instead I was on CK, and noticed it said my approval odds for a Capital One Venture card were "very good." Now, I've been lurking on myFico long enough to know very well that I should have took that with a grain of salt but instead I applied anyway. Instantly denied. Called one of the backdoor numbers and the nice gentleman basically told me in a nice way no point in reconsideration, but before hanging up, he asked why I wanted the card and I told him for the "travel benefits" (not entirely true). He then said there may be a slight chance they could upgrade my current card. After tranferring me, they gave me the option to upgrade my card to the Venture One Capital Card, I accepted. I lost my cash back benefits, but I feel this is a better card so that's a win. Only problem is I still only have one CC. Trying to decide if I should apply for the Capital One Quicksilver card again or a CapOne Plat. Or if I should maybe just wait it out?
Thanks for sharing.
First, CapOne don't recon. Second, if you try to apply again they'll just deny you (without pulling a report) with the reason being that you've recently applied. Third, as long as you're happy with the VentureOne card that's all that matter. BUT, what you really did was traded a 1.5% cash back card with no redemption requirements for a 1.25% cashback card that can only be redeemed for travel related purchases. I guess if there is a positive, you at least ditched the annual fee.
Not entirely true Loquat. I decided to apply again that same day (for the Quicksilver card i traded in) and I was instantly approved. I now have to CC with different accounts, which was the original goal.