Venture Reconsideration

[Beckhsrules]

Aaaarg. I am angry on myself for applying for the Venture and getting declined. This happened right after Chrismtas. I called the reconsideration line and they said to call them after I recieve the letter. I got my letter yesterday and it seems that the reason for deline is too many inquiries on all three of my reports. Will Capone approve me if I call them again and ask them to reconsider or will they ask me to wait out till my inquires fall off?

The worst thing is I have to live with three more inquiries on my report. 

[elim]

How many Inq's do you have?

Just for data point, I had about 30 total my last Venture approval (6 weeks ago)

[elim]

Just jumped on my Lappy and i see your inq's now EX: 16, EQ: 11, TU: 17

I guess that's too many. Yes I would call and see what they can do.  Can't hurt.

[Beckhsrules]

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@elim wrote:

Just jumped on my Lappy and i see your inq's now EX: 16, EQ: 11, TU: 17

I guess that's too many. Yes I would call and see what they can do.  Can't hurt.

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You mean you had 30 in total?

[FinStar]

OP - they may have cited the inquiries as a main factor on your combined CRs.  However, some of us have been able to get approved with more on our CRs in comparison to those you have listed in your signature.  This typically would signal that there may have been other factors (besides inquiries) that fell short in the approval criteria.  As with anything, YEMV since every profile is different.  You can try the reconsideration process again but it may not hold much promise other than waiting and trying again at some point when your CRs are more optimal.

[Anonymous]

I don't think the inquiries are the only reason. I had more than you when I was approved. AAoA, number of new accts AND INQs is probably a clearer picture. I don't think you're going to do well reconning through the regular phone number. If you have FB, you might try and get Cap One's attention there and maybe get the EO involved. Try, however, as you already took the hard pulls.

[elim]

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@Beckhsrules wrote:

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@elim wrote:

Just jumped on my Lappy and i see your inq's now EX: 16, EQ: 11, TU: 17

I guess that's too many. Yes I would call and see what they can do.  Can't hurt.

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You mean you had 30 in total?

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  yes "total" of 30 across all 3 (about 10,10,10)

[Beckhsrules]

I happened to call CapOne reconsideration and they gave me some crap about their approval process. 

Someone with CapOne credit cards or have experience with Capone recons please help me out.

The representative told me that there are two types of denials for a CC.

One being the reason of not meeting the requriements of the CapOne

The other being the information from Credit Bureaus and mine fell in the second reason.

He said that there is nothing they can do now and all he can do is request for a reprocessing. I said no since he confirmed that there will be another three pulls. Also he said that I should be calling the Credit Bureaus to find out the reason why I was declined which I personally think as BS.

Is it just representative problem and should I HUCA ?

[NoAnchoviesPlease]

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@Beckhsrules wrote:

He said that there is nothing they can do now and all he can do is request for a reprocessing. I said no since he confirmed that there will be another three pulls. Also he said that I should be calling the Credit Bureaus to find out the reason why I was declined which I personally think as BS.

Is it just representative problem and should I HUCA ?

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The credit bureaus didn't decline you, they just reported the information they had in response to the inquiry. So they can't tell you what Capital One didn't like. Don't bother calling them unless you know there is inaccurate info on your reports (and even then, you can challenge most items online more efficiently). 

It would be worth checking your reports to see if anything stands out to you, and then call back and see if another Capital One analyst can tell you what they didn't like. My sense from a couple of recons is that an analyst on the phone can probably see what was actually called out, even if it doesn't match what's on your letter. (One reent credit card denial letter for me complained about my retail trades being too high... $25.00 out of $3000+ in credit... and the analyst didn't even mention it when doing my recon and reversal/approval).

annualcreditreport.com gives you one report each year free from each of the top 3.

It's also checking the second tier ones too (ARS, IDA, Innovis?) if you haven't. http://ficoforums.myfico.com/t5/General-Credit-Topics/Ida-Inc-Innovis-and-ARS-Are-there-any-quot-new... has some details or just search the forums on the second tier agencies. A year and a half ago, I got my third party reports and froze them. Should probably check my reports again. 

Edit: IDA is now Sagestream according to http://www.doctorofcredit.com/two-credit-bureaus-you-should-freeze-before-you-apply-for-a-u-s-bank-c...

[Creditplz]

What were your scores when applying for the Venture?