Cap1 Checking increase odds for CC?

[TyRacing]

Does anyone know if having a cap1 360 checking account increase odds of approval for cap1 credit card? Like the Savor cc? 

Thank you for sharing

[FinStar]

Unfortunately, no.

[Anonymous]

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@FinStar wrote:
Unfortunately, no.

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Do you know that to be a fact and if so, how?

[FinStar]

Yes, it is a fact. Exceptions exist for judgemental UW in some specific instances. The depository side is walled from the lending side of the business. Cross-selling opportunities exist for product [household] expansion and market penetration strategies, but not to the extent that the depository side would directly influence a CC lending decision.

I'm familiar with a variety of their internal processes since I know a few of the executive leadership team members, much no different than your prior "connection/intel" with Blispay (albeit we know how that turned out in the end).

So, that's how I know.

[Anonymous]

So you're speaking with respect to only Capital One here?

[shadanat]

I had my 360 account for about two years and the refinanced my car with them and a month later was approved for a credit card. I think my car loan had more weight getting the credit card then the 360 account.

[FinStar]

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@Anonymous wrote:

So you're speaking with respect to only Capital One here?

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The topic and premise of my response was addressing the Capital One depository "relationship" influence with regard to their CC products.  Therefore, my response focused specifically on Capital One, which is what the OP asked about. 

[Anonymous]

Sounds like a weak business decision on the part of CO if what you said above is indeed true.  More data is always better when making lending decisions.  To have additional data at their fingertips and opt to not look at it (whether it would impact their decision or not) just seems silly.

[FinStar]

To gain more perspective it would behoove you to read their annual report.  I think the numbers speak for themselves.

[Anonymous]

If you have a link to it, fire away.

Regardless of what any annual report says, I still maintain that more data is better than less data.  That doesn't mean that the data is always going to "aid" or "hinder" a lending decision (it may not be used at all), but I don't see how knowing more is better than knowing less.