So I'm not crazy about Capital One but they seem to want me as a customer because they send me weekly mailers. I got one yesterday for the Venture card for 60,000 miles after 3k spend. Thats more than the standard 50,000 miles offer. I dont need another card but I said screw it, 60,000 miles. Done! APPROVED FOR 30K!! Seems like they like to match or your highest limit or more, mine being chase marriott and amex spg both at 25k. Pretty surprised at the starting limit. Some data points on my profile: age 28, 1% credit card util, 2 car loans, 2 student loans, and a hefty mortgage reporting. income was reported at 100k (combined income). not a bad approval!! I hope they didn't do a triple pull!
A lot goes into consideration when determining your initial credit line at CO. One thing they look at is the amount of your highest credit limit with other creditors in relation to what it intends to approve you. In some cases I’ve encountered, the valuation models will try to earn the number one spot in your wallet by either matching or beating ur highest limit conservatively. Ultimately customers are approved based on their profitability to the company. Enjoy the new card
Congrats. You def got a triple pull but I'd take it for $30k. Think of it as $10k per HP lol. No way around the 3HP unless one of your reports are locked .In which cases ive seen several people denied with just one report locked .Then they had to unlock it and get another 3 HP just to get approved. But enjoy .Those hps will disappear in a couple years anyway .No big deal
Noticed that my APR with them is 19.24? What gives? My Experian and Transunion scores as of last month were 818. Why wouldn't they give me 14.24? Anyone have any luck getting Capital one to lower APR on approval?