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CK Approval Odds?

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CK Approval Odds?

Hi there! First-time poster and happy to be here! I just had a question. I know lenders and score monitors can use different models and come up with different score numbers, but I currently use Credit Karma and show a 630/636 Transunion/Equifax. I went on to their "Recommendations" page, and saw that their approval odds for the Capital One® Platinum Credit Card were at "Very Good". It's the first time that I've seen those odds on there, but I'm skeptical about applying and adding an inquiry to my report. Does anyone have any advice that they think may help me decide whether or not to apply? any knowledge of this particular cards' average approval score(s) or bureau they use to pull scores from? Any help would be appreciated. Thanks a bunch!

 

 

***EDIT***

 

I do not currently know how to add all of the information you folks seem to have under your messages, but I'm going to add whatever information I can about my profile. This information is gathered from CK, so it may not be 100% accurate, but that's all i have to go on at this time.

 

TU: 

630 Score

9 Inquiries

5 Total Accounts

     2 Open ($6,509 Remaining on Car loan and $129 in Collections)

     3 Closed

Credit Age (averaged): 8 Months

Derogatory Marks: 1 ($129 Collection Account)

Credit Card Use: No Data

Payment History: 100%

 

Equifax:

636 Score

7 Inquiries

6 Total Accounts

     Same 2 open as TU

     4 Closed

Same Credit Age

Same Card Use

Same Payment History

 

No current Cards or CL, slowly building my score 1 point at a time with my car payments when they report them, 

2007 Hyundai Santa Fe

Financed through Credit Acceptance Corp Smiley Sad

22.99% INTEREST!!! 

I know that's terrible, but I had been denied completely by every other lender attempted.

 

I'm hoping this community will help me build my profile like it seems to have done with so many others!

Message 1 of 18
17 REPLIES 17
Frequent Contributor

Re: CK Approval Odds?

There are people on here that could give you an educated guess, but we'd have to know more than just your CK Vantage scores.  Things about your credit profile like current CC utilization, file thickness, average age of accounts, any derogatory remarks, etc?  Many find it helpful to create a signature when able to display those things.  




Message 2 of 18
Regular Contributor

Re: CK Approval Odds?

Welcome to myFICO. So the main thing that most people mention is that the "preapprovals" that CreditKarma shows are really nothing other than ads. If you want to actually check for preapprovals with certain banks. Most of them such as Chase, Discover, Capital One, etc. have their own preapproval pages that would be much more accurate than what CreditKarma is trying to show.



FICO 8 Scores

TU: 731 [2 Inquiry] | EQ: 722 (FAKO) [1 Inquiry] | EX: 745 [6 Inquiries]


AAoA = 13 months, AAoOA = 1 year 9 months

Message 3 of 18
Valued Contributor

Re: CK Approval Odds?

There are MANY banks that have real prequals. 

I would use those to get an idea of where you really stand.

 

Capital One

Merrick Bank

Home Depot

US Bank

BB&T

Regions

American Express

Discover

 

GL!

Rebuild started in 2014  -  $100k+ unsecured credit in 2017  -  $250k+ unsecured credit in 2019.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

10% Rotating - Discover                   5%-20% - Amazon & Lowes                6% Groceries - Amex Preferred (DW)
5% Gas & Sporting - Ducks Unl         4% Dining & Entertain - Savor           3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything Else - Flagship          1% Cancer Charity - Fifth Third          0% Finance Promos - Venture & QuickSilver




    
Message 4 of 18
Established Contributor

Re: CK Approval Odds?

You will find this link much more accurate than the CK ad.

 

https://www.capitalone.com/credit-cards/prequalify

 

 

Message 5 of 18
Regular Contributor

Re: CK Approval Odds?


@Bmajor0327 wrote:

Hi there! First-time poster and happy to be here! I just had a question. I know lenders and score monitors can use different models and come up with different score numbers, but I currently use Credit Karma and show a 630/636 Transunion/Equifax. I went on to their "Recommendations" page, and saw that their approval odds for the Capital One® Platinum Credit Card were at "Very Good". It's the first time that I've seen those odds on there, but I'm skeptical about applying and adding an inquiry to my report. Does anyone have any advice that they think may help me decide whether or not to apply? any knowledge of this particular cards' average approval score(s) or bureau they use to pull scores from? Any help would be appreciated. Thanks a bunch!


Welcome to the forum.  Without knowing much about your file, the one question I can answer for you is that Capital One will pull from all 3 bureaus, so you will have 3 hard inquiries.  Good luck.

Work In Progress:
Current Revolving Personal CL: ~$424K


Current Revolving Business CL: ~$103K

Gardening Until Dec 2019 or Until All Scores are back above 800s

Message 6 of 18
Senior Contributor

Re: CK Approval Odds?

"Capital One

Merrick Bank

Home Depot

US Bank

BB&T

Regions

American Express

Discover"

 

 

also add Citi Bank to That Pre-Qual List

Message 7 of 18
Super Contributor

Re: CK Approval Odds?

Ignore CK scores and their approval odds.  Their goal is to get you to click and apply for a card so that they get a kickback.  Good approval odds displayed benefits them, not you.

Message 8 of 18
Established Contributor

Re: CK Approval Odds?

Ditto what everyone else has said. Cap1 pulls all three.

 

Good luck.

Message 9 of 18
Valued Member

Re: CK Approval Odds?

Welcome to the forum, I'll have to co-sign what everyone else is saying.  Credit Karma told me that I had a "poor" chance to get the Chase Sapphire Reserve, applied anyway and got it.  I don't know what factors CK uses but their estimates for card approvals seems off.

 



Message 10 of 18
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