Canceling Cap One Application

[Anonymous]

Hi everyone,

My wife got preapprovals from discover it and capital one Quicksilver. Applied for both and got an instant approval for discover it (4K limit). Cap one asked for income verification that i sent them on august 12. called few times to check on the status of the application and was told that its still pending. This morning she applied for chase freedom( 2K limit)  and citi simplicity (1K limit), both instant online approvals. So we called cap one and Cancelled her application after the rep told us that its still pending. Please tell me if it will effect her report beside taking the hit for the hard inquiry.  Do you think it will show as an open credit line for a month, or only the hard inquiry would show.

Also can you please let me know if there is anything she can do to increase the limits.

Thank you all in advance, i have learned a great deal about credit from reading the form.  I hope that someday i will be able to help others as much as you guys helped me. 

[Swapmeet]

I think that your wife is better off just gardening those cards--they will all grow with her. There is no need to be taking a grip of inqs. She did just fine, though I do not understand the logic of cancelling the 1.5% CB app after taking the HP for it. I would contact the EO for a recon on that app and see if you can still get it.....unless you have a better card to put your "everything else" spend on.... congrats on that lineup..I would stop apping and garden!

[Anonymous]

Thanks for the advice, to be honest we got frustrated with cap one.  I thought she would be better off without them. But now i am concerned that it might show up as opened for a month or so.

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@Swapmeet wrote:

I think that your wife is better off just gardening those cards--they will all grow with her. There is no need to be taking a grip of inqs. She did just fine, though I do not understand the logic of cancelling the 1.5% CB app after taking the HP for it. I would contact the EO for a recon on that app and see if you can still get it.....unless you have a better card to put your "everything else" spend on.... congrats on that lineup..I would stop apping and garden!

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[Swapmeet]

I don't think that it will....but it won't really matter if it does. It would just knock her AAoA a bit, which gardening helps too.

[Anonymous]

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@Swapmeet wrote:

I don't think that it will....but it won't really matter if it does. It would just knock her AAoA a bit, which gardening helps too.

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Thank you for your fast responses. Any advice on cli with the other cards.

[Swapmeet]

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@Anonymous wrote:

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@Swapmeet wrote:

I don't think that it will....but it won't really matter if it does. It would just knock her AAoA a bit, which gardening helps too.

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Thank you for your fast responses. Any advice on cli with the other cards.

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I would request cli every 6 months. If they offer sp cli, go every 4. For chase, at the 6 month mark, ask for 7-10k, then they will probably decline that, but you can call the backdoor number for a recon, and they will offer you as much as they are willing to grant you. This insures the highest possible cli on one HP

[mnavas]

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@Anonymous wrote:

Hi everyone,

My wife got preapprovals from discover it and capital one Quicksilver. Applied for both and got an instant approval for discover it (4K limit). Cap one asked for income verification that i sent them on august 12. called few times to check on the status of the application and was told that its still pending. This morning she applied for chase freedom( 2K limit)  and citi simplicity (1K limit), both instant online approvals. So we called cap one and Cancelled her application after the rep told us that its still pending. Please tell me if it will effect her report beside taking the hit for the hard inquiry.  Do you think it will show as an open credit line for a month, or only the hard inquiry would show.

Also can you please let me know if there is anything she can do to increase the limits.

Thank you all in advance, i have learned a great deal about credit from reading the form.  I hope that someday i will be able to help others as much as you guys helped me. 

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The account was never approved and therefore was never opened.... She withdrew the App and it's no longer pending to a final desicion and it won't show up on her credit reports. She does have 3 HPs (one each CR) which is why she should've waited for the outcome.

Capital one is very slow at processing pending apps. I applied last month for the Quicksilver got a pending message and took 3 weeks for them to make a desicion, the outcome: Approved for $3000. The key is to be patient... Its a great card so it's totally woth the wait

[Anonymous]

Thank you guys

[Anonymous]

Swapmeet, hope you don't mind me asking. would you recommend USAA, i am looking for a cu that i can have a long relationship with. High limit cc/ mortgage/ auto and personal loan.  Are they hard to deal with when it comes to obtaining credit cards or loans.  Thanks

[B335is]

Did you decide what to do with Cap1? I would just let them run their course. You already took 3 hard pulls.