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How many inquries can i have and still get a cap one

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Contributor

How many inquries can i have and still get a cap one

I want the quicksilver for the 1.5% cashback, but i cant get prequalified at all.  My scores are all between 700-750, but i have 25 inquries on each report.  Income is 35k, but i have over 100k in federal student debt.  Is it the debt or the inquries?  I used to have the quicksilver but closed it because it had an annual fee back then.  2 years later cap one wont let me in at all

11/16 EX 733 TU 750 EQ 723
Message 1 of 13
12 REPLIES 12
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Super Contributor

Re: How many inquries can i have and still get a cap one

Prequals aren't everything. If you're under 5/24 (they don't officially have a policy but there are many DPs to suggest 4/24 is a thing for many profiles) and willing to risk a triple pull, I would just cold app for it. 

That said, there are 1.5% and 2% cards that don't require a triple pull to get - AMEX Cash Magnet, Chase Freedom Unlimited, Discover IT Miles, Citi Double Cash, PayPal Cashback, etc. As much as I like Capital One, the QS isn't worth a triple pull to me. 




Message 2 of 13
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Valued Contributor

Re: How many inquries can i have and still get a cap one


@accjohn1990 wrote:

i have 25 inquries on each report.  Income is 35k,

but i have over 100k in federal student debt. 

Is it the debt or the inquries?


The answer is yesSmiley Wink

Debt and inquiries both could be holding you back.

 

If you have to have one right now, I like  's advice to either cold-app or maybe even consider a different 1.5% card. 

 

Ideally, though, I think you'd be better off to garden for at least a year or two.  Pay off as much debt as possible and let the dust from recent inquiries settle. That is a HUGE number of inquiries to me.   Either of those could impact your approval on any card, and if you are approved, could hold you back substantially on your starting limit or cost you a higher APR.  Sometimes, waiting is best and has its' rewards.

 

Patience.jpg

 

 



Updated 10/08/2020
Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 27+ years;
AAoA = 8+ years; AoYA = less than 1 year (Aug 2020)
Total Open Credit Lines Over $538K. Utilization Less Than 1%.
Inquiries until Nov 2020 (TU:3 -- EQ:4 -- EX:9)
New Accounts: 3/6 months; 8/12 months; 12/24 months (as of 10/15/20)
*Hover cursor over each card to see name & CL, or press & hold on mobile app.
Message 3 of 13
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Community Leader
Mega Contributor

Re: How many inquries can i have and still get a cap one

Cap1 isn't spooked by inquiries. Highest I had and got approved was 19. If you're loans are in deferment, they wouldn't affect you.







Message 4 of 13
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Community Leader
Super Contributor

Re: How many inquries can i have and still get a cap one


@accjohn1990 wrote:

I want the quicksilver for the 1.5% cashback, but i cant get prequalified at all.  My scores are all between 700-750, but i have 25 inquries on each report.  Income is 35k, but i have over 100k in federal student debt.  Is it the debt or the inquries?  I used to have the quicksilver but closed it because it had an annual fee back then.  2 years later cap one wont let me in at all


It’s not one or the other. It’s your entire credit profile; and at this moment in time, you’re a credit risk with a neon light blinking overhead. 

 

*You are aggressively seeking credit (this is a no-no for lenders). It tells them that you are desperate even, if in reality you’re not. It’s all about perception. 

 

*You have a high amount of student debt. 

 

*You state your scores are between 700-750 but you don’t say from where. Are they FICO scores?

 

*You don’t give us any other DPs like UT, AAOA, AoYA. 

 

IMHO, I suggest that you don’t apply for anything else until your last inquiry age to 12 mos. 


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 5 of 13
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Contributor

Re: How many inquries can i have and still get a cap one

I applied for the pp cash back and was denied despite having a pp extras card on a different paypal account.  Tried to get reconsideration, but I cant find the number anywhere.  

11/16 EX 733 TU 750 EQ 723
Message 6 of 13
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Super Contributor

Re: How many inquries can i have and still get a cap one


@accjohn1990 wrote:

I applied for the pp cash back and was denied despite having a pp extras card on a different paypal account.  Tried to get reconsideration, but I cant find the number anywhere.  


You can't get PayPal Cashback while having Extras. There's no recon with Synchrony. You'll have to decide if you want to keep your Extras or close it and wait 30-60 days and try for the Cashback. 




Message 7 of 13
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Contributor

Re: How many inquries can i have and still get a cap one

I spoke with 2 reps and each said that if i had 2 paypal accounts i could get 1 card per account.  If this is wrong i will gladly cancel my extras card

11/16 EX 733 TU 750 EQ 723
Message 8 of 13
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Super Contributor

Re: How many inquries can i have and still get a cap one


@accjohn1990 wrote:

I spoke with 2 reps and each said that if i had 2 paypal accounts i could get 1 card per account.  If this is wrong i will gladly cancel my extras card


It's possible that I'm misinformed but I would wait for the letter and see what it says. 




Message 9 of 13
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Frequent Contributor

Re: How many inquries can i have and still get a cap one

I can only tell you from my own experience. I got the Venture card with 29 inquiries showing but many others including yourself get denied for less. Capital One makes no sense in how they operate. My scores are similar to yours by the way. So to answer your question I have no idea. Best bet is if it shows up on the prequalified site then it’s probably good to go. If not I would not risk the triple pulls then.
Message 10 of 13
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