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Does Capital One Venture follow the 5/24 rule?

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Beast26
Established Contributor

Does Capital One Venture follow the 5/24 rule?

Anyone got this card while being over 5/24?  I do remember I got denied last year for this card and one of the reasons stated something like "number of trade lines opened in the last 24 months."





Revolving history: 2 years 4months across the board
AAoA:
TU: 5yrs 10months
EX: 2yrs 2 months
EQ: ~5yrs 6 months
Inquiries: Ex: 1/12. EQ: 1/12 Tu: 1/12
As of 10-5-2020

Quicksilver $3,000
Discover It Miles $17,500
Chase Freedom Flex $4,400
Amazon Prime Store Card $6,000
Walmart MC $2,500
Wells Fargo Active Cash $8,000
Citi Custom Cash $8,400
Verizon Visa $20,000
Message 1 of 4
3 REPLIES 3
GZG
Senior Contributor

Re: Does Capital One Venture follow the 5/24 rule?


@Beast26 wrote:

Anyone got this card while being over 5/24?  I do remember I got denied last year for this card and one of the reasons stated something like "number of trade lines opened in the last 24 months."


you're at the whim of the pre-approval tool, don't apply without being pre-approved, you will just be denied in the vast majority of cases.

https://www.capitalone.com/credit-cards/preapprove/miles/?landingPage=venture 

 

'cards in the last 24 months' is a potential listed denial reason but it's not a hard rule

you can also try the VX pre-approval tool, which if declined, you will get a letter (emailed to you) with reason codes without having to apply fully, I imagine any reasons they list in the denial letter for VX, likely apply, at least in part or somewhat to Venture as well. 

https://www.capitalone.com/credit-cards/preapprove/venture-x/ 

Starting FICO 8:
Current FICO 8:



Message 2 of 4
Beast26
Established Contributor

Re: Does Capital One Venture follow the 5/24 rule?

Thanks for the links!  I tried and got two bullet points as to why I can't be approved.

1) Too many trade lines opened in the past 24 months.  I think I'm at around 7 in the last 24 months.

2)  too many trade lines open.  I have about 10 or 11 cards open all with 0 missed payments or negatives.





Revolving history: 2 years 4months across the board
AAoA:
TU: 5yrs 10months
EX: 2yrs 2 months
EQ: ~5yrs 6 months
Inquiries: Ex: 1/12. EQ: 1/12 Tu: 1/12
As of 10-5-2020

Quicksilver $3,000
Discover It Miles $17,500
Chase Freedom Flex $4,400
Amazon Prime Store Card $6,000
Walmart MC $2,500
Wells Fargo Active Cash $8,000
Citi Custom Cash $8,400
Verizon Visa $20,000
Message 3 of 4
Gregarious
New Member

Re: Does Capital One Venture follow the 5/24 rule?

Garden for a while if you want the Venture.  No 5/24 but Capital One leans towards those who don't have too many recently opened cards for the Venture X, and with thinner profiles.  I got the Venture and product changed to the Venture X after a year, since the bonus was the same and I didn't want another triple hard pull ever again unless it was for something amazing.

Message 4 of 4
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