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mrjuggalo9er

guide to Capital one & the 2fer deal is dead

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Couple questions

 

* a few months ago there was a thread floating around about Cap 1 now needing all 3 bureaus thawed. Is this the case? Or can I still have EQ or EX frozen?

 

* I have a big bill to pay on Dec 16. If I apply and am approved for a Venture card on Dec 15, will they tell me my card number over the phone, or SM it to me?

 

* My last Venture was approved on June 14, 2017. I assume 6 months + 1 day is enough for the six months between approval requirement, yes?

 

Thanks in advance for any info on this.

 

Cheers, MP

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Couple questions

 

* a few months ago there was a thread floating around about Cap 1 now needing all 3 bureaus thawed. Is this the case? Or can I still have EQ or EX frozen?

 

* I have a big bill to pay on Dec 16. If I apply and am approved for a Venture card on Dec 15, will they tell me my card number over the phone, or SM it to me?

 

* My last Venture was approved on June 14, 2017. I assume 6 months + 1 day is enough for the six months between approval requirement, yes?

 

Thanks in advance for any info on this.

 

Cheers, MP

IIRC with CapOne it takes some time between the approval and shipping the card. Three to seven days.

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Link to a post at MyFICO on an explanation of why a CapOne credit card issued to a "dirty file" will never grow like one issued to a "clean file" -- subprime credit lines are owned by a different group of investors than prime credit lines, and CapOne benefits by issuing cards to subprime borrowers and having those borrowers become prime, which improves the aggregate credit score of the subprime borrower group, thereby making the group appear to be less risky.

 

http://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Card-Asset-Backed-Securities-ABS-and-why-some-subprime/td-p/5083619

 

and

 

http://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-Secured-Card-Just-Won-t-Upgrade/td-p/5082362/page/2

 

MP

Edited by moneypyts

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On Dec 1, 2017, I wrote
"* My last Venture was approved on June 14, 2017. I assume 6 months + 1 day is enough for the six months between approval requirement, yes? "

 

Report -- denied for a new Venture card at 6 mos + 1 day after previous approval. Usual reasons given (including too much outstanding debt on existing credit card accounts). I figure I'll wait a couple months before trying again, when I'll have a chunk of the total balances paid off, so as not to burden my reports with too many hard pulls.

I didn't think to apply for the new 3% Savor dining card on the same day after denied for the Venture. A realized $150 Sign Up Bonus now is better than the possibility of a $500 or $400 SUB at some point in the future, I figure...

MP

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On Dec 1, 2017, I wrote

"* My last Venture was approved on June 14, 2017. I assume 6 months + 1 day is enough for the six months between approval requirement, yes? "

 

Report -- denied for a new Venture card at 6 mos + 1 day after previous approval. Usual reasons given (including too much outstanding debt on existing credit card accounts). I figure I'll wait a couple months before trying again, when I'll have a chunk of the total balances paid off, so as not to burden my reports with too many hard pulls.

 

I didn't think to apply for the new 3% Savor dining card on the same day after denied for the Venture. A realized $150 Sign Up Bonus now is better than the possibility of a $500 or $400 SUB at some point in the future, I figure...

 

MP

 

Why not the Barclay's Uber card 4% on dining beats 3 all day long and it won't cost u a triple pull. :grin:

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> Why not the Barclay's Uber card 4% on dining beats 3 all day long and it won't cost u a triple pull. <

Uber card is pretty meh to me. $100 SUB is pretty skimpy, 4% at restaurants might net me $20/yr over the Freedom5/Discover quarterlies and my Chase AAPR. I'm already at 3 Barclays cards, and don't want to close any right now, anecdotal reports from higher-volume discussion sites than Creditboards indicate that it is often difficult to get a 4th Barclays card. Plus I want to save my next Barclays spot for something I really want, like maybe another Aviator card.

 

The Savor card would have had a slightly less skimpy $150 SUB, wouldn't have resulted in any additional hard pulls, but would have put off my next Venture SUB to July. I think there's a good chance that Cap One will approve me for another Venture in Feb, when my current Venture has had 7 (rather than 5) statements closed, and my overall outstanding balances will be down a few thousand.

MP

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I closed the Venture a few months back because they cut me to 10k from 30 due to lack of use...or not using much of my available limits on other cards?

Anyhoo I plan on applying for the card this weekend to get the sign up bonus. Are they still giving out the sign up offer to past Venture customers?

I know in the past I churned this card with great success

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I received a Venture in 02/16, 08/16, 02/17. All three paid the SUB. Had all three open until 9 months ago when two were combined. Wife had two and also received the SUB within the last 14 months until combo.

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I received a Venture in 02/16, 08/16, 02/17. All three paid the SUB. Had all three open until 9 months ago when two were combined. Wife had two and also received the SUB within the last 14 months until combo.

cool thanks for the info. Kind of what I did a few years back

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3 hours ago, hegemony said:

WTH? we've been checking car trunks for your corpse. where ya been/

Chemo therapy,  child support, you know the norm... how you been 

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On 10/2/2019 at 11:58 AM, mrjuggalo9er said:

Chemo therapy,  child support, you know the norm... how you been 

 

Hope you overcome, Juggs.  Would love to see you back to your old self.  

 

FWIW, your work here on CapOne is priceless.  

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17 minutes ago, mrjuggalo9er said:

I'm pretty much good now honestly....

 

I'm very happy to hear that.  I hope you will be back and active here just like before.  

 

I know this will be hard for you to believe, but you've been missed.  Not a day goes by that I don't thank you for my CapOne prybar.  That skill you taught me has been extremely useful with other CC companies as well.  

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21 hours ago, PotO said:

 

I'm very happy to hear that.  I hope you will be back and active here just like before.  

 

I know this will be hard for you to believe, but you've been missed.  Not a day goes by that I don't thank you for my CapOne prybar.  That skill you taught me has been extremely useful with other CC companies as well.  

I never ever ever ever thought I would read this.... glad I could help

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2 hours ago, mrjuggalo9er said:

I never ever ever ever thought I would read this.... glad I could help

 

Well, I might be an a**hole, but I am an honest a**hole.  

 

We need you back, Mr. Juggs.  You are the only one who could decipher CapOne and we still have a lot of people asking questions about the current state of affairs.  

 

 

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Mr J good to know you are ok, or mostly ok, now. The Cap1 data is excellent in this thread. How does a creditor determine what percentage you are using of available credit from other creditors? Last reported balance and/or highest reported balance or other factors too?

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14 hours ago, busted2 said:

Mr J good to know you are ok, or mostly ok, now. The Cap1 data is excellent in this thread. How does a creditor determine what percentage you are using of available credit from other creditors? Last reported balance and/or highest reported balance or other factors too?

By the balance reported on your credit report.

 

Highest balance reported might only be a factor for charge cards.

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9 hours ago, PotO said:

By the balance reported on your credit report.

 

Highest balance reported might only be a factor for charge cards.

Thanks for the reply.

So showing use of a higher percentage of available credit on a current report could be interpreted positively for the purpose of avoiding a CLD for not enough use. Then again, using too much available credit could cause other problems. Perfect.

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2 hours ago, busted2 said:

Thanks for the reply.

So showing use of a higher percentage of available credit on a current report could be interpreted positively for the purpose of avoiding a CLD for not enough use. 

Is that what I said?  I doubt it.

 

I have never suffered a CLD for not enough use.  I have, out of around 70 open accounts, never suffered a CLD even though the majority of cards only see $10 in usage every three months.  

 

A CLD will usually come when your creditors smell problems, including high utilization.  

 

If you aren't using your card(s) for a prolonged period of time, you risk closure.  You do not have to have a balance reporting on your credit reports for your creditor to know you are using their card.  

 

The best policy is to follow the $2 Trick.  

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I have a QS (5 years) and a Venture 1 (3 years), both with 0 balance; I've been trying to combine them for the past 8 months and every time I call they tell me that the option was discontinued at the end of 2018. Has anyone been successful combining cards this year?

 

Also, I'm trying to get increases on both but I don't use the cards that much right now. What's the minimum amount to spend evey month for 90 days before I apply for a CLI?

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