Why I didn't apply for Venture

[Imperfectfuture]

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@DeeBee78 wrote:

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@Anonymous wrote:

   Its a well known fact here at myfico that you can apply and combine with capital one.

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Not yet. Hopefull by the end of the year! 

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Wonder when that response would come up.  Thought jfriend was being facetious.

[SOGGIE]

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@CreditCuriousity wrote:

@OP I use to have you train of thought and despised I mean despised Cap1..  Although I was the one that created my own situation, I hated the triple pull for 300-500 CL's.  Honestly it took me about 7 months of proof they are changing their ways to allow for a triple pull for 30k in CL's..  Seems fair to me 10k for each bureau when you can apply for a barclay's or us bank or citi or what not and get 2-5k approval off a single or possible double pull.  I am convinced they are changing their business model.   So many things I have seen over they last 7 months shows this.  How they allow you to contact the EO right off now, how they are handing out good limits, how they are servicing the customer better in every way shows this, etc..  They do have their faults and like every other CC company yes they want you to only use them and I use to take the triple pull as them basically claiming their territory on you, but quite honestly I like diversifying and Cap1 doesn't take AA on their customers like Barclay's/Chase and many other lenders are known to do, so they have their place in my wallet for the forseeable future!

The quicksilver is the easiest rewards CC out there IMO, instant rewards, no min redemptions, etc....  Only thing I don't like about they card is it is so dang ugly!  I can overlook that though

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That is good CreditCuriousity. I'm glad you and others are having a positive experience with Cap One--with no regrets of being hit with that triple pull.

[onstar]

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@bigDEElight wrote:
*sigh* This forum and its eternal fear of inquiries and fluctuating scores lol. FWIW, my EQ went up 4 points after the Cap 1 inquiry yesterday. Scores fluctuate week to week and inquiries ultimately don't matter in the long run. For me, breaking the 5K ceiling I was at was worth 3 inquiries. My 15K venture will hopefully help me in the future with my other CLIs.

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Yup yup. Inquiries, fluctuating scores, AAoA, utilization, etc. don't really matter unless you're in building/rebuilding mode or if you treat credit like an addictive game. Once your credit is somewhat established, then none of these will matter so much.

So that credit scores will have better meaning, I wish all banks did a triple pull. Either that or I wish the credit bureaus reported to one another so that all CBs will have identical inquiry data. Because whether you're applying for a Venture or an Arrival+ or a Double Cash, they should count as the same.

[Imperfectfuture]

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@SOGGIE wrote:

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@Anonymous wrote:

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@SOGGIE wrote:
I agree with the OP. The triple pulls is ridiculous. It almost seems like a punishment of some sort. I can't see myself apping for any of their products for that reason.

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It may seem ridiculous to you, but to other's like myself, taking a triple pull for 30K in additional CL's is actually pretty cheap. It opens the door to higher CL's with other's, such as Chase, Amex, etc... Cap One for ALOT of us, gave us our highest initial CL's, and other's followed suit. I LOVE Cap One and am willing to take a triple HP for what I get in return. If they were triple pulling for CL increases, I'd could see an issue. But they don't, when other's, like Chase do HP for CL increases. It is what it is. You make the decision if it's worth it to you. I, for one, have no issues with it. 

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@Drew: <SMH> I'll reword that for you. It would be RIDICULOUS of me to accept a triple pull from Cap One. OP expressed how he/she feels about his/her unwillingness to acquire a triple pull for Cap One's Venture card. As with any other posts, I respect his/her opinion. So happens, I my feelings on the matter align with the OP's. So happens, you and others do not agree. I respect you all's opinions without question. You even provide your reasons for your willingness to accept. I respect that too. We all are entitled to our opinions, and we make decisions for OURSELVES based on OUR OWN wants and needs. As for others on this thread,  I did not refer to the OP's expressions as, "ranting." OP expressed him/herself without intentionally offending others. Neither myself nor the OP questioned the logic of the opinions or decisions of other posters on this thread. As I stated, I respect the decisions of others. I don't eat using the mouths of others, and  others do not expel what I digest. One's experience is respectively their own. RESPECT! It is what it is. BTW I know everyone's sito is not similar to mine, but I did not need Cap One to kickstart my high limits with Chase, AMEX, etc. Everyone has their own goals and methods of achieving their goals. 

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+1. Not interested in any other products at this time.  If I can't get the apr lowered, then the account goes bye bye.  Using cards with 1%, and their respective category spends! I offer meet or exceed 2% overall.  Everyone is different in their goals.

[CreditCuriosity]

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@Imperfectfuture wrote:

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@DeeBee78 wrote:

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@Anonymous wrote:

   Its a well known fact here at myfico that you can apply and combine with capital one.

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Not yet. Hopefull by the end of the year! 

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Wonder when that response would come up.  Thought jfriend was being facetious.

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never know, got to claw through the good and bad information on here and educate yourself sometimes what is correct..

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Capital One, if you are reading this, listen up.  Once your customers have proved themselves, ease up on the inquiries.  Let them make the decision if they want to stay with you. Don't force them into it by tarnishing their scores.  Give the folks who want in with good/excellent scores a break; just single or double pull them. Bottom line this isn't just about inquiries. But if they stopped this entrapment I would think a lot more of them!

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For some, credit may be a game of honor and pride.

For me, it is a tool...I don't care how I achieve my credit as long as it is to my advantage.  The Venture card  is one of those tools that help you rebuild despite the 3 inquiries.  

You see posts at MyFICO asking how to get a $10K+ credit card all the time.  The Venture opens that $10K+ credit door but you can't step through because you don't want to pay the 3 inquiries.

And the reality of it all...inquiries just don't mean all that much.  I am sitting on 16 inquiries each on EX EQ and I do not get denied due to inquiries because it's spaced out.  Inquiries don't count for much after 6 months.

Looking at your other credit cards, I woulldn't be surprised if you got a $20K+ credit limit but you are unwilling to step out of low limit credti cards because of principle.

In the grand scheme of things, Cap1 (or any bank) doesn't care about you and your 3 inquiries.  In 6 months those 3 inquiries will just be a number on your relatively low inquiry credit report.  It will only be you continually getting low limit credit cards that will be holding the short end of the stick.

A $20K Venture will help your credit much more than those 3 lost inquiries.

Venture, Lowes, and NFCU are the tools of the hight credit limit trade...use them.  AMEX 3X is another but I'm seeing increasing denials these days.

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I am not unwilling to step out of low limit credit cards.  What makes you say that? Just because I am hesitant to get triple dinged for a card with the CL floodgates open? Are you implying that I am not being smart by jumping on the venture bandwagon? Two months ago I had total CL of around 12k. My commerce bank was my highest limit visa/mc....Learning about SP/HP CLI here at myfico is what got me up to where I am currently, only took one HP for the care credit. My current scores dont even reflect my new Amex's but I am not expecting a big increase from that. Only two HPs total to go from 12k to 40k. Thats more of an increase than any venture initial limit that I am aware of.

They say a person is best only applying for what they need. Well right now I don't "need" the venture since being approved for the PRG. Who knows if they will deny me for purchases though. That is annoying with amex too, similar to not knowing where you stand. I would certainly get a lot of usage out of the Venture. I could relax a bit more with the frequent payments to my quicksilver. I would have no problem placing 1k a month on it for the bonus. If I were to apply for a Venture it certainly would not be for the rewards. They are worth 1cpp. Amex is worth 2cpp. On the PRG thats 6cpp on flights booked direct with an airline, groceries at 4.8cpp (ED), restaurants at 4cpp, and everything else at 2.4 cpp (ED). I would have to just give in to it and see if having that one 10k limit card would make the others follow suit. But what other cards are there to follow suit lol? I may already get a Amex 3x CLI but thats not guaranteed.

I am sitting at the following inquiries 8-TU 2-EQ 7-EX  Thats 17. I guess I am already rated poor, so maybe I should give in and say to heck with it and make it 20. But for me, that would be a total of NINE inquiries from capital one on my report.  I just know, for me, and the way my mind thinks, when I hit that apply button, I am going to want to automatically  continue down the preauth's to get what I can. Each account opening, one could say after a certain point, is not worth due to lowering AAOA. So there is no absolute MUST to triple app with the triple pull then. Gosh now I know why folks GARDEN lol.

They approved me for a no AF quicksilver visa in december (was denied in march of 2014). Up until the last few months everyones general concensus was that Quicksilver One MC was usually a worse card than the visa. That has been disproven with equally high limits. The only difference being the AF.  What I am getting at is this. In december, they approved me for the visa with $1k, promised limit of $1.5k after 5 payments. Instead they gave me an extra 2K. Then in october the APR goes from 0 to 22.9.  I know my scores have improved but it seems like Cap1 doesn't know what to think of me.  I have no way of knowing if their EO will even consider lowering my APR until the APR begins. I have also applied for so many new accounts with little impact to my AAOA from all the student loans, maybe I would be better off just getting the 17.9% on the quicksilver with a better limit and MAYBE a venture. I don't care much about APR but its peace of mind. I can't predict the future yet its obvious I am trying to rush things. Thank goodness for Amex Serve and making card payments super easy for everything.

I am sorry if this thread has offended anyone here. It is just how my mind works. I am grateful for all the help, comments, info, etc. It is just really confusing sometimes. The lenders have to look at us and see how big of a risk we are, well the same goes from the consumers to the lender, its also a risk for us! I am just a little frustrated with how this fico thing is some secret sauce recipe. Sure we can get that thousand island on a burger and make it taste ALMOST like a big mac. But it just doesn't cut it.  Maybe me avoiding the Venture is poor fico game play on my part.  Regardless, you guys are saving me a lot of money though and I really appreciate it, venture or no venture.

[SOGGIE]

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@Anonymous wrote:

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Two months ago I had total CL of around 12k. My commerce bank was my highest limit visa/mc....Learning about SP/HP CLI here at myfico is what got me up to where I am currently, only took one HP for the care credit. My current scores dont even reflect my new Amex's but I am not expecting a big increase from that. Only two HPs total to go from 12k to 40k. Thats more of an increase than any venture initial limit that I am aware of.

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Nice!!!!!!!! Congrats! 2 HPs for 12K-->40K CLs.

[Anonymous]

Jfriend, I think you're trying to come up with a clear cut answer, yes or no, black and white, when it comes to Cap One. Your not going to find that answer. You have to make the decision for yourself with regard to the Venture. You seem really confused. On one hand, you come across like you want it, but than on the other hand, you come across as if Cap One is a poor choice, and cannot understand why so many of us take the triple hit. You've heard both sides, only you can decide what's best for you. That's it. Best of luck on whatever you decide. I hope you're happy in the end. That's what matters.

[SOGGIE]

Good point Drew. OP may very well be struggling with a decision. I will admit it. I know I have. I would app for maybe 2 of their cards if it were not for that issue I have w/ the pulls. They seem to be pulling it together, but I won't budge from my position. I will admit, when I see others successes w/ the Cap One cards, I get excited for them and wish I had the cards. I'm certain I qualify. But....but....but, I have rules about credit inquiries.

[morgacj2004]

I like Cap One because the limits that they give people are realistic. When I initially applied for my Discover I was given a $500 limit. What good is that? The same with BofA . Cap one and to a degree BC offers realistice limits esp for those of us that travel a lot and have moderate to big spend. If the only issue is excessive HP I am more than willing to pay that price. Very happy with Cap One!