Offer from Capital One

[John060675]

I received an email from Capital One stating "thank you for being a loyal member since 2007" and that they are sending me a special offer for a Cash Rewards credit card. 

Does anyone know if this is just a mass email or if this means I am prequalified?

Just to let you know, I am just over 600 on EQ and TU.  Does anyone know if this qualifies?

Thank you.

[Anonymous]

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@John060675 wrote:

I received an email from Capital One stating "thank you for being a loyal member since 2007" and that they are sending me a special offer for a Cash Rewards credit card. 

Does anyone know if this is just a mass email or if this means I am prequalified?

Just to let you know, I am just over 600 on EQ and TU.  Does anyone know if this qualifies?

Thank you.

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Question 1:  Do you have any ccs with Cap 1?   If so do you have it since 2007?   Is it correct?

Question 2.  Have you checked who is a sender?  Where it came from?

[burntreality]

http://www.capitalone.com/creditcards/prequalify/index.php

I used this a few weeks ago and it showed me prequalified for that card.  My credit score is lower than yours and I was approved instantly for $500.

[John060675]

Question 1:  Do you have any ccs with Cap 1?   If so do you have it since 2007?   Is it correct?

                   Yes, I have a Cap 1 card with a $1,000 limit.  I had 4 old lates on it, but they were removed last month by them.  I now show all on time payments.

Question 2.  Have you checked who is a sender?  Where it came from?

                   The sender was from Cap 1.

[Anonymous]

Since you already have a $1k card with them, I would only apply do it if it's the cash rewards card for "excellent credit". Go through the prequal link and click "excellent credit". See what offeres pop up. If the interest rate is 18.9%-23.9% don't do it. It'll probably be lower than your current card. If the rate is 14.9%-20.9%, then it's the one for excellent credit and I'd consider it.

[John060675]

Sigh, well I could not stand the invitation.  I have been fighting 3 years of credit problems, and I am now just turning it around.  I succumbed to the temptation.

I am afraid I was given the dreaded 7 to 10 business day message, which probably means an epic fail.  I am not worried about the burned inquiries, since they only last one year.  I just was hoping for a positive answer.

Such is life.

[Anonymous]

You can always recon, although I'm not sure how much good that really does with Cap One. Always worth a shot though, especially if it already cost you 3 HPs.

[John060675]

Yeah, I probably will try a recon, assuming I am denied.  I think I will call them tomorrow to find out the status of the application.

At least the 3 inquiries will be a reminder for me to take my time in this process.   

[John060675]

Well, I called the 1-800 number on this forum for application status with Cap 1, and they still have not made a decision.  They told me that the decision was still pending.

I suppose I am happy that it was not an instant denial.  So, what do you think my chances are?  I have never had an application take more than 24 hours for a decision.

[Anonymous]

Be patient and don't call back right away. It seems to me the more you call and sooner you call, the more likely you are to be denied, as it comes off as desparation.