Venture app: What would MyFICO do?

[AverageJoesCredit]

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@MrDisco99 wrote:
I need to reserve some hotel stays for October in Greece (cutting it close I know). My plan was to app for a Cap1 Venture and use the bonus along with the 10x back at hotels.com. However I’m nervous about the triple pull and my chances of approval.

My app history is in my sig. I was very active last year, though not so much since. The Amex ED is recent enough (and no inquiry) that it shouldn’t appear on my report before I intend to do the Venture app. However I will still have some pretty high stats by then...

Inquiries last 12 months: 4 EQ, 4 EX, 4 TU
Inquiries last 6 months: 1 EX

New accounts: 1/6, 13/12, 19/24

Scores are good, despite carrying 16% util on one of my cards (Barclays Apple). Currently 742 EX and 784 TU (Citi EQ FICO 808/900) and likely to go up a few points by the time I apply.

I wonder if I should go for it or maybe try for the VentureOne instead. I’d still get 10x on the purchase but only $200 bonus.

What if I app and they decline? What is recon like with Cap1? Could I use the same pulls for a VentureOne? If not, is it worth doing another triple pull?

I realize my chances get better if I Garden a little longer but I don’t really want to wait any longer to make the reservation.

What would MyFICO do?

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I'd GMOOD1 it while K'  ing In Boston , all the way Globo Gyming it like there was no tomorrow

[Anonymous]

I feel like I’m the only one on the boards with even remotely similar data points to yours as it pertains to the Venture card. I think your 1/6mo recent accounts and relatively few inquires overall should grant you an approval. Of course this is speculative. Perhaps, the best thing to note here is that even if they do triple bureau pull you and deny, you’ll only have 5 pulls on each bureau which isn’t that bad.

Your scores are better than mine (now and at the time) and my aggregate utilization at the time was 18%. One brand new account (1mo) was reporting 20% due to sign up bonus spend reporting faster than I anticipated. Another account was reporting 88% due to a payment not posting before I applied. Had I waited a few days, my reports would’ve been more optimal once payments posted. As it stands, they still approved me despite being very recently active with accounts.

This app may require you to step out of your comfort zone but it seems you’ve done a lot to better position yourself for approval.

Here’s the link to the previous post with DPs:
http://ficoforums.myfico.com/t5/Credit-Card-Applications/Capital-One-Venture-with-recent-inquiries-a...

Here’s my then DPs:
December 2017
Cold App/No prequals
Instant Approval: $15K
No prior relationship.

AAoA:
7yr11mo

Double Pull

Inquiries ||| Score
EX FICO 8 - 9 ||| Score: 730
TU FICO 8 - 8 ||| Score: 737

The approval letter showed a Bankcard 2 or 4 score of only 700. I can’t remember anything more specific than that. Apologies.

Last Opened Account:
BoA Premium Rewards - October 1
Discover it - October 1
Barclaycard Red Aviator - November 1

New Accounts:
10 in previous 7 months.
4 in previous 4 months.
3 in previous 3 months.
10/12 no recent activity prior to April 2017
10/24 no recent activity prior to April 2017

[UpperNwGuy]

I would not apply.  You have too many new accounts.  Time to do some gardening.

[kdm31091]

In general it seems Capital One has tightened up with the Venture because we sure don't see nearly as many approvals as we used to. As others have mentioned, there is no recon with Capital One or reusing pulls etc. Whatever the computer decides is what they will stand by unless there is an actual error on your report.

Worst case scenario are 3 wasted pulls. If that's OK with you, just go for it and try.

[sccredit]

Based on the cards in your sig I don't think there would be a difference in the Venture vs Venture One for you.  

[Time2letgo]

@MrDisco99

I have been eye-balling the Venture for the very same reasons you are. Impressive 10x with Hotels.com plus I want that bonus offer. I had a prequal in October last year and was one of the cards in my app spree, it was probably my 3rd app and got a 7-10 day letter. A few days later Cap1 did another HQ on all 3 bureaus and was denied because of the recent inquiries. The 2nd set of Inqueries were later removed. I still want it though, it is probably the only card I would step out of the garden for at this point. Still check their pre-qual site every once in a while, but has not had any offers since then. I don't know how long before they stop holding the recent accounts and inquiries against you.

Stats

New Accounts - 16/24, 8/12, 1/6 (most recent 12/2017)

Inquiries - 10/9/15 last 12 months 5/5/6

Please update if you pull the trigger  Maybe I will after I'm 0/6 on the new accounts.

[Brian_Earl_Spilner]

Eh, I think people are too obsessive with pulls on here. Unless you're going after chase, Barclay, sync, or commenity, I haven't really seen people get shot down for too many HP. And the ones that have been, usually just bought a car after shopping around. As for my experience, I app'd for 4 Cap1 cards in a 4 month period. Approved for 3 out of 4, the last one not even getting a HP. Not sure if it had anything to do with getting approved a week earlier on another card. I say go for the VentureOne unless you know you're gonna spend enough to offset the af every year.