Has this happened to you??? What should I do???

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Has this happened to you??? What should I do???

Postby Youngd29 » Tue Aug 29, 2017 10:26 am

Hey I just had a question. On yesterday I just applied for capital one venture card after being prequalified for that card on there site. Once I filled out the application they told me that they would send me a letter in 7-10 business days letting me know if I was approved or denied. I also was pre approved for the quicksilver card and I applied for that about a hour after the venture card. But I was denied for that one. These are the only 2 cards I applied for. I need a card so I was just looking for some advice on what do you think is going to happen and what would be a good card for me because I dont want to keep filling out applications. I know that is not good for my credit report.

My Scores are:

TU: 701

EQ: 716

Income: 81k

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Re: Has this happened to you??? What should I do???

Postby swipe_masta » Tue Aug 29, 2017 10:40 pm

What kind of rewards are you looking for? Venture and Quicksilver are very different cards. Don't apply for the sake of applying to see if you are approved. Research what cards appeal to you. Sadly, just because you are "pre-approved" or "pre-qualified" does not guarantee you a card. The fine print will state something like "subject to credit approval" so that when you apply and they hard pull your credit, they can decline if there's something there that a soft pull did not show.

If you really want the Venture or Quicksilver card, call Capital One to reconsider. Otherwise, look at what cards the bank you have checking/savings with has to offer. If you're making 81K/year, I'm sure your bank will consider you for some line of credit.

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Re: Has this happened to you??? What should I do???

Postby rockyrock » Fri Sep 01, 2017 8:50 am

I agree with swipe, figure out what the best style of card is for you. Do you want rewards or not? If rewards, then do you want points, cash back, miles, etc. Start with your bank--or even better a credit union if you belong to one, they are much more likely to extend you credit.

I would call the reconsideration line for Venture as you have nothing to lose at this point. Google "Capital One recon line" and one should come up. Hopefully they just need clarification on something.

Let us know what you decide!

Good luck and YMMV.
Sapphire Reserve: travel & dining
Blue Cash Preferred: groceries & gas
Freedom: 5% cats
Double Cash: everything else

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Re: Has this happened to you??? What should I do???

Postby SinjCeridan » Wed Sep 06, 2017 8:04 pm

A few things here. Cap1 does a triple pull. There may something on your Exp report that they don't like. With you having EQ and TU scores only, is it safe to assume they were pulled from CK? If so, keep in mind that CK uses the Vantage 3.0 model which isn't used by CC companies. The V3 can vary greatly from Fico 08 which is most commonly used. My V3 is 90 points lower than Fico but my wife's reports are 40 pts the opposite.

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