Capital One Relationship

[Anonymous]

Hello everyone,

I've been a Capital One customer for almost 4 years now. I started out with an auto loan in 2017 (now closed) that was paid as agreed with no lates. In 2018, signed up for a checking and savings accounts with direct deposit, and picked up a Platinum Secured card with a $500 limit. In 2019, picked up a QS1 with a $500 limit that is now $1,500 through auto CLIs. I have perfect payment history on both of my Capital One cards.

My eye is on the Venture X in 2022. I plan to apply once I finished off paying one last collection and a few charge offs on my report. My question is, will Capital One consider all of the history I have with them when I apply? Or do they put more emphasis on other factors? Thanks for any input!

[FinStar]

Not necessarily.  So, deposit relationship and prior loan with them typically do not sway the pendulum, unfortunately. They will likely weigh your existing revolving tradelines with them and everything else associated with your profile, inclduing income, etc.

Your signature displays the NFCU More Rewards card, are you the primary on that account or AU? How long have you had that card?

[simplynoir]

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@FinStar wrote:

Not necessarily.  So, deposit relationship and prior loan with them typically do not sway the pendulum, unfortunately. They will likely weigh your existing revolving tradelines with them and everything else associated with your profile, inclduing income, etc.

Your signature displays the NFCU More Rewards card, are you the primary on that account or AU? How long have you had that card?

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From the post here he says he's the primary on the account, no information on how old the card is

But yes they'll weigh that with respect that you have no negative actions with them, still gotta consider everything else

[Anonymous]

Thanks to the both of you for the feedback! Yes, I am the primary of the More Rewards card and picked it up on June 1st of this year.

[FinStar]

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@Anonymous wrote:

Thanks to the both of you for the feedback! Yes, I am the primary of the More Rewards card and picked it up on June 1st of this year.

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Ok, thanks for providing the additional info.

If it were me, I would hold off for at least 12 months (at the earliest) to consider Venture X. If you were to try any sooner, the application would likely be denied as they may see that you don't have sufficient experience (time-wise) managing limits >$5K (you only have 1 card with a high CL). Also, be sure to use the More Rewards frequently and moderately (i.e. organic spend) so you can demonstrate some historical data on the usage, pmts, etc. Make those 3 HPs count.

[Anonymous]

Thank you so much @FinStar! Super helpful! I was going to ask what card I should be putting my spend on. I will definitely take your advice and garden for a little longer to make that triple doink worth it haha.

[Anonymous]

Was looking into the DPs for the Venture X and I believe since its in their "Excellent" category for qualification, for them, that would require a >$5k card limit @ 3+ yrs. for consideration. I think they're looking for a 720+ FICO also for that card.