@MarineVietVet wrote:Sorry to hear that Lel. Cap 1 is my oldest card and they gave me credit during my BK when no one else would but it's certainly a crazy credit world right now. I've had good and bad experiences with all my CCC's. I wish you better news in the future.
I love CrapOne!
1. They screw up;
2. You beat them up;
3. They start to snivel; and
4. They give you a card with a $25k limit sans INQs.
Sort of like dying and going to credit heaven. 
O6 wrote:
I love CrapOne!
1. They screw up;
2. You beat them up;
3. They start to snivel; and
4. They give you a card with a $25k limit sans INQs.
Sort of like dying and going to credit heaven.
In your case, the reason for denial was completely incorrect - they said that you owed them money, right? In my case, I can't argue with the fact that I've only paid down about 3% of my mortgage loan balances.
@Lel wrote:...denied!
At the time of my application, my scores were TU 795 and EQ 814. I had PIFed several cards before their statement dates, so only two CC accounts were reporting balances. My utilization was 3%. AAoA is 8 years, and my oldest account on file (a now-refinanced student loan) is over 22 years old.
The reason for denial: "there has been insufficient pay down of mortgage accounts."
I can't argue with this. I have two mortgages, including a jumbo that was interest-only until a year ago, so I've only made a small dent in the principal. My HELOC balance stands at ~$85,000 of an original $98,000.
Such is life.
Such is life is true. Look on the bright side...............you have a home. Things will swing back, but I think it may take some time. Best of luck.
@Lel wrote:
O6 wrote:I love CrapOne!
1. They screw up;
2. You beat them up;
3. They start to snivel; and
4. They give you a card with a $25k limit sans INQs.
Sort of like dying and going to credit heaven.
In your case, the reason for denial was completely incorrect - they said that you owed them money, right? In my case, I can't argue with the fact that I've only paid down about 3% of my mortgage loan balances.
I didn't mean to imply that you should sic the dogs on them.
The reason they gave you makes sense I suppose. I remember long after paying off my mortgage with Bank of America I applied for a BOA card. They declined the application because my CR shows no mortgage history. I beat them up over that one, too. Sometimes the reasons they (i.e. banks) give are so dyslexic.
O6 wrote:
I didn't mean to imply that you should sic the dogs on them.
The reason they gave you makes sense I suppose. I remember long after paying off my mortgage with Bank of America I applied for a BOA card. They declined the application because my CR shows no mortgage history. I beat them up over that one, too. Sometimes the reasons they (i.e. banks) give are so dyslexic.
Oh, I didn't think you were saying that either. I was just noting that you had more legitimate grounds for getting a successful reconsideration of your CC application, because the denial was based on patently incorrect info. Cap One has a reputation for being impossible to get a recon, so yours was clearly an exception. I doubt that I'll be able to have similar success. 
@akaniks wrote:
You're crazy. I like CapOne!
love that they don't impose hefty ft fees and their no fee 'no hassle' checks come in handy sometimes.
my biggest turn off with them is how they work their tiered card system (not surprisingly I feel that way since I have a low limit builder)
oh yeah, the triple inqs kinda put a damper on it too