Capital One Venture Approval Odds

[Anonymous]

Hello, I'm new here and not sure how to create my own post so hopefully somebody sees this. I'm just looking for opinions on odds of approval for the venture card. My scores across the bureaus are all right on the cusp of breaking 700, though i just got about $9,000.00 worth of credit line increases on existing accounts that have not yet reported to the bureaus, which im hoping will throw me over that 700 mark. My overall util is about 20% (will be lowered dramatically when the increases and payments hit), aaoa is 2 years with my oldest open card being opened 4 years ago. Inqs are average 5 per bureau, two accounts opened within the last year. Highest limit right now is 12.6k. Only negative remarks are from 2015: one 120 day late payment, and a paid medical collection. I have an exising relationship with cap one being a QS for about 2 years at a 1350.00 CL on which I've never been late or even close to the limit. I'm not prequalified on their website, though i've never been prequalified with them so I'm not sure how heavily that weighs on the decision. Anybody, please give me some input before i pull the trigger and go for it, thanks!

[UncleB]

Hi @Anonymous and welcome to myFICO!

I've moved your post to a new thread to get your question more exposure.

To start a new thread yourself, just click/tap the 'Start a topic' button at the top of any forum.

--UB

[Anonymous]

Thank you! Do i need to do anything to follow the thread you moved it to or will i be notified if there is a reply?

[UncleB]

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@Anonymous wrote:

Thank you! Do i need to do anything to follow the thread you moved it to or will i be notified if there is a reply?

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You should be subscribed. 

[Remedios]

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@UncleB wrote:

Hi @Anonymous and welcome to myFICO!

I've moved your post to a new thread to get your question more exposure.

To start a new thread yourself, just click/tap the 'Start a topic' button at the top of any forum.

--UB

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In my defense, I started explaining but stopped at 15th paragraph. 

[Remedios]

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@Anonymous wrote:

Hello, I'm new here and not sure how to create my own post so hopefully somebody sees this. I'm just looking for opinions on odds of approval for the venture card. My scores across the bureaus are all right on the cusp of breaking 700, though i just got about $9,000.00 worth of credit line increases on existing accounts that have not yet reported to the bureaus, which im hoping will throw me over that 700 mark. My overall util is about 20% (will be lowered dramatically when the increases and payments hit), aaoa is 2 years with my oldest open card being opened 4 years ago. Inqs are average 5 per bureau, two accounts opened within the last year. Highest limit right now is 12.6k. Only negative remarks are from 2015: one 120 day late payment, and a paid medical collection. I have an exising relationship with cap one being a QS for about 2 years at a 1350.00 CL on which I've never been late or even close to the limit. I'm not prequalified on their website, though i've never been prequalified with them so I'm not sure how heavily that weighs on the decision. Anybody, please give me some input before i pull the trigger and go for it, thanks!

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While Cap 1  pre quals are pretty reliable, not having one does not mean you would not get approved. 

Have you applied for any cards in the past two years? If so, when? 

Edited to add, I see you answered that question. 

Cap 1 has been temperamental lately, but I dont think that two accounts are a deal breaker. 

I'd wait till alll of your increases update, and check prequal again. 

[Anonymous]

Yes my last two cards were opened July of 2018 on the same day.. I think I will wait until those increases report. Luckily, they’ll report right around the same time and that will give me an extra statement for cap one that I can pif for them to see which will hopefully work to my advantage

[Anonymous]

It’s true that they have been more conservative lately with the Venture. It’s  important to know that they don’t pull FICO 8, they pull older versions. I applied originally and was declined with 730-750 scores, 150k in available credit at 1% utilization. I waited a year and pulled the trigger a second time and was approved at 5K which was disappointing to me since I have cards with 25k limits. I had hoped they would come close to matching those.  I’m 6 months in and they just gave me a 2k CLI however.

I have seen people with thin profiles get approved with good limits so just never know...

[jdbkiang]

Capital one does seem to like thinner files. I was approved for the Venture with less than a year’s history and an even shorter AoAA. They also like usage on their cards.

[Anonymous]

Oh wow thats surprising to hear.. I've read plenty of experiences from others and it seems like a mix from capital one. I may wait a while to apply for my profile to improve. I have a trip to Tokyo in April that I wanted to get another rewards card for, i have the amex prg but it's my first trip out of the country so I wasn't sure what to expect. Thank you for your input!