Proof of the Capital One 24 month restriction

[Benzman]

Been bored and reading the approvals threads too much, so thought I would give a shot at Cap Savor One. Here is the result;

So the 24 month theory DOES exist. I at least gave it a try.

[kdm31091]

They have been mentioning that denial reason for a little while now. It is not applied 100% of the time but they do seem to have some sort of x/24 rule. Nobody knows the exact number but they definitely have tightened up a lot since a few years back when they were handing out 20k Venture cards to almost anyone.

[Beast26]

So how many cards have you opened in the last 24 months?

[Anonymous]

Sounds like a letter from a company that you sent a resume to and got a rejection lol.

I don't get pre-quals from them and no CLIs approved. If I tried to apply for another card, I wouldn't be surprised if I got rejected. They are very stingy right now. 

[Benzman]

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@Beast26 wrote:

So how many cards have you opened in the last 24 months?

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Probably around 6.

[Taurus22]

Sounds like they may be adopting the Chase blueprint  5/24.

So this means Cap1 is approx. 5/24 and a triple-bureau HP.  Are they trying to put themselves out of business?

[Anonymous]

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@Taurus22 wrote:

Sounds like they may be adopting the Chase blueprint  5/24.

So this means Cap1 is approx. 5/24 and a triple-bureau HP.  Are they trying to put themselves out of business?

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They actually can be stricter than that. 3/24 has been a number commonly floated for people who don't have blemishes on their credit. 

[Mv350]

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@Taurus22 wrote:

Sounds like they may be adopting the Chase blueprint  5/24.

So this means Cap1 is approx. 5/24 and a triple-bureau HP.  Are they trying to put themselves out of business?

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This really only applies to their prime cards. Platinums for everyone with a pulse!

[Ficoproblems247]

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@Taurus22 wrote:

Sounds like they may be adopting the Chase blueprint  5/24.

So this means Cap1 is approx. 5/24 and a triple-bureau HP.  Are they trying to put themselves out of business?

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Just protecting their assets because they know how things are likely about to become. You have to remember that the average myFICOer is far different from the average cosumer in that a lot of us are well over 5/24, whereas the average consumer that Cap1 is targeting (or at least currently targeting in the present climate) probably isn't. 

[kdm31091]

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@Ficoproblems247 wrote:

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@Taurus22 wrote:

Sounds like they may be adopting the Chase blueprint  5/24.

So this means Cap1 is approx. 5/24 and a triple-bureau HP.  Are they trying to put themselves out of business?

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Just protecting their assets because they know how things are likely about to become. You have to remember that the average myFICOer is far different from the average cosumer in that a lot of us are well over 5/24, whereas the average consumer that Cap1 is targeting (or at least currently targeting in the present climate) probably isn't. 

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This. Having a 5/24 or such rule is not going to put Capital One out of business nor did it put Chase out of business. The average consumer whom they are targeting is likely not over 5/24 and also does not care (or even know about) a triple hard pull. For us in the MyFICO crowd, sure, the triple pull and x/24 rule are disappointing, but it certainly does not mean it's a bad business decision for Capital One. We are generally unprofitable customers.