Chances of getting approved for a Cap1 BuyPower card, with 695, 691, and 685 scores?

[CreditMagic7]

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@galahad15 wrote:

Update:  just applied for the BuyPower card, and was denied    Message received back said something like "Thank you for applying. Unfortunately, Capital One, N.A. is unable to approve your application at this time...Unfortunately Capital One, N.A. is unable to approve your application due to the following reason(s): LARGE AMOUNT OWED ON REVOLVING LINES."

Wondering if I should I maybe call Cap1 and request a recon, on their decline?  

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I for one am rather shocked initially. OP is your UTL peaking/spiking on some cards? because i think this is a first i seen for the GM Card which is always approved for many especially even those new to credit as they target those clients early on. 

[OmarGB9]

Sorry to hear op. Guess UTIL was too high for their liking.

[galahad15]

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@CreditCuriousity wrote:

Wow seriously?  that CC isn't hard to get approved for.. I am sorry to hear this especially when I said you would be approved with your scores and collection's of cards..  As you know nothing is guarantee in the credit world, but surely thought this would be an easy approval, but it appears not.. Sorry again..  What is your utilization at?  Is your DTI good?

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No problem at all & again many thanks for your advice!  My utilization is about 27% on my open cards and I recently paid off $15k (had thought that my credit reports had been updated to reflect that already, due to the score increases).  However, when I called the Cap1 recon number, they said the $15k payments had not yet been reflected on my credit reports; alas, looks like I may have apped a lil too early I guess...I will try calling their recon number again, once my credit reports update to reflect the $15k payment..

[CreditCuriosity]

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@galahad15 wrote:

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@CreditCuriousity wrote:

Wow seriously?  that CC isn't hard to get approved for.. I am sorry to hear this especially when I said you would be approved with your scores and collection's of cards..  As you know nothing is guarantee in the credit world, but surely thought this would be an easy approval, but it appears not.. Sorry again..  What is your utilization at?  Is your DTI good?

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No problem at all & again many thanks for your advice!  My utilization is about 27% on my open cards and I recently paid off $15k (had thought that my credit reports had been updated to reflect that already, due to the score increases).  However, when I called the Cap1 recon number, they said the $15k payments had not yet been reflected on my credit reports; alas, looks like I may have apped a lil too early I guess...I will try calling their recon number again, once my credit reports update to reflect the $15k payment..

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Thanks for chiming in again.. Ya 15k is quite a big payment ..  Your scores are going to skyrocket when that bad boy hits and is reflected.

[galahad15]

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CreditMagic7 wrote:

I for one am rather shocked initially. OP is your UTL peaking/spiking on some cards? because i think this is a first i seen for the GM Card which is always approved for many especially even those new to credit as they target those clients early on. 

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Please see my post #13, for more info -- apparently I had inadvertenely thought my recent $15k payment towards my overall utilization had already been reflected in my credit report that I pulled today, but Cap1 recon said that they were not seeing the payment as being made yet in the credit report they pulled for the app (they said that something else may have accounted for the FICO score increases).  So I may have applied prematurely    Will try to contact the recon # again, once my credit reports update to take into account the $15k revolving debt payment.

[CreditMagic7]

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@galahad15 wrote:

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@CreditMagic7 wrote:

I for one am rather shocked initially. OP is your UTL peaking/spiking on some cards? because i think this is a first i seen for the GM Card which is always approved for many especially even those new to credit as they target those clients early on. 

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Please see my post #13, for more info -- apparently I had inadvertenely thought my recent $15k payment towards my overall utilization had already been reflected in my credit report that I pulled today, but Cap1 recon said that they were not seeing the payment as being made yet in the credit report they pulled for the app (they said that something else may have accounted for the FICO score increases).  So I may have applied prematurely    Will try to contact the recon # again, once my credit reports update to take into account the $15k revolving debt payment.

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My post and Question #11 was before #13 so no way to known that until then

[creditguy]

Sorry to hear they denied you, oddly enough I received my card yesterday with a 3k SL and my scores are lower than yours plus I have some old baddies. I've noticed this card varies wildly in credit limits and approval odds with no real reasoning.

[Anonymous]

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@Anonymous wrote:

I was just approved 2 weeks ago and your scores are higher than mine. However, I will tell you that my SL was a crappy $300. Not really worth the HP imo, but now that I have it, I have it and it's a fancy looking thing. I just put my recurring Netflix/Hulu accounts on it, we'll see how the CLI's come. 

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Haha i put my nflx subscription on it monthly and that's all i use it for also. I have the old Cadillac version (which looks pretty sweet in black) and havent requested a new card to get the WEMC version. My thought was whats the point of having a WEMC if i'm never going to use the card anyway. If i wanted purchase protection i would just use my amex. I'm not going to charge something on the GM WEMC just bc it has some ancillary features that i probably will never need nor use. 

It is smart of them to make the low limit card a WEMC tempting owners to maybe actually use it. haha since i think WEMC usually require 5k+ CL.

[pipeguy]

My Venture One is sitting at $5k CL (won't budge) and my BuyPower is currently $10K CL - coming up on a year shortly, probably hit the button if I don't get an auto CLI on the GM card.

Never have bee able to figure out CapOne's "logic".