Is Capital One Inquiry Sensitive? Update: Approved

[Anonymous]

I’m looking to apply for the new Savor Card to take advantage of the $500 bonus and reward my heavy dining spend.

I believe my profile should be strong enough as I have 760-770 Ficos and good income. My one concern is inquiries. Equifax and Experian only have 4 each, but Transunion has 7 (3 from a car loan from April in the same day).

Do you think inquiries would be an issue for capital one? I also opened up a Amex Platinum about 3 months ago as my most recent credit card app.

Mod note:  I've updated your subject to reflect your approval; feel free to change/edit if you would like.  --UB

[RicHowe]

No Capital One card is worth the triple-pull you'll get.

The real question is, Are YOU inquiry sensitive.

[wingennis]

Good morning.  My scores were about 50 points lower than yours and I had twice as many inquiries when C1 approved my Venture.  If you haven't been approved for a C1 card in the last six months then this is about as good as it gets.

[Brian_Earl_Spilner]

Yes they are, just not to the point as someone like synchrony. I was recently denied a CLI for too many inquiries. Something like 7 on each bureau in the last 6 months. 2 of which were for an auto loan.

[Anonymous]

OP—Cap 1 does not seem as Inq sensitive as some others, but moreso than Synch, Comenity, etc. Based on your described stats, I think you’ll be okay. However if you can give much more detail on stats (total accts, ages of accts. Utilization how old are inquiries, etc), you can get better advice. As pointed out, Cap 1 will be a triple-pull, so if you’re not good with that, just be aware.

[Anonymous]

Thanks for the responses guys.

For starters I am not inquiry sensitive and I am okay with a triple pull. I view credit as something to be leveraged to aid one financially not as an arbitrary goal for a certain number. From that respect I have just recently purchased a truck at a low interest, won’t be buying a house for at least 2 more years, and just began a new job in the past year. Therefore I don’t foresee a need for absolutely perfect credit. On the other hand $500 for routine spend is real value for me.

As for my specifics on my profile... My income is roughly 100k. I have 20 total accounts roughly half of which are seperate student loans totaling 25k (working hard at this I’m only 26). Currently 7 charge or credit cards. And as mentioned previously 28k left on my truck loan.

I have 100% payment record, PIF every month, and 1% utilization currently. The inquiries are mostly 6 months or older outside of the 3 for my truck in April. Finally average age of account is 4 and 1/2 years with the oldest being 8 years old.

I appreciate the advice, I am happy to take the inquiries but don’t want it to be for nothing! Thanks

[Anonymous]

Sound like you’d be just fine. As always, lenders can be weird and YMMV, but nothing you’ve mentioned would seem to raise red flags.

[Anonymous]

And one more point about Cap 1...There is no Recon with them. They go only by automated decision and no CSR/Underwriter/Loan Officer to speak to about reconsideration. Decision is final as to that application. Just FYI.

[Anonymous]

Thanks for the info!

[morgacj2004]

$500 cash back on 3k spend is worth a triple pull anytime especially if you are fairly certain you will be approved. In addition the AF is waived on this card for the first year making it even more of a no brainer.  CO has become much more picky as of late unlike a few years ago when they were handing out 2-50 k ICL like candy.