Capital one application

drumandave

Hello,

I recently applied online for cap one cc as I did their
Tool which lets you see if you will likely be accepted, it said 100% of i set up a dd promising to pay the full balance each month so I applied but at the end selected the option to pay at least the min amount each month, a day later I received an email asking for proof of id, I sent this off Friday, just wondered what you think my chances would be? Or if I've made a bad choice opting for min payment option? I have in the past had defaults these have all dropped off so all I have on experian and equifax is my vodaphone account, I have had two late payments but those were a 5/6 months back. Any advise greatly appreciated. Thank you. Dave

A4445

The DD won't make any difference, I have a Capital One card I always pay in full but I set up the minimum to be taken by DD just in case I forget to pay.

As long as you can provide ID I can't see there being an issue. I had the same 100% chance and the card came in the post a week later.

drumandave

Okay, I called them today to check they received my docs they said they had posted them back and approved me for £200 initial limit but I've read other posts about them saying that and then getting a rejection after so I'll wait and see. Thanks

[Deleted User]

I'd always tick full and then change it to minimum later if that's what you want to do - reportedly you score higher in credit scoring*.

If they said they'll take you then I'd hope they will. However, Cap1 were very slow in getting me my card, it took ages even after the PIN had been delivered. You should get emails from them about setting up the online account etc.

Don't expect the card before 25th IMO - good luck

* = the cynical view in me also thinks that on cards like Cap1/Vanquis, they actually boost applications which pick 'minimum payment' - but that's not allowed under FCA Treating Customers Fairly OR the agreements providers have with the CRAs for use of personal data etc.

drumandave

Yes I just recieved a conf letter they sent to me on the 13th! So not holding my breath for a card before end of month!
Thank you

HarlowC

I did the pre eligibility check, 100% they said, I was approved online, wrote back asking for ID, send it off, wrote back declined. Capital one are strange.

drumandave

Could it be that they were waiting for info to come through from one of the credit ref agencies? So may of approved initially but declined after receiving further info? I read on another forum here that they use all 3 ref agencies know I have an over payment on my call credot one. Sorry to Hear about your decline

drumandave

Received my pin in post today and got a welcome email so assuming that's it

GingerBob_3

HarlowC wrote: »

I did the pre eligibility check, 100% they said, I was approved online, wrote back asking for ID, send it off, wrote back declined. Capital one are strange.

So you've no relationship with this bum company but they've no doubt taken copies of your passport, or whatever else, with the distinct possibility that they will "lose" the copies or otherwise compromise your personal data.

[Deleted User]

For my application they searched Equifax and Exprian. Maybe you approved based on one but they didn't like something on the other??

I think it'd Equifax for soft searches - then a hard search at both when you apply. If there's something on your Exprian that isn't on Equifax that'd explain it

N.B Were you given 100% chance or 'pre-approved'. Although the should mean the same thing, I got pre-approved so would take that to mean watertight (subject to CIFAS checks). 100% could be more a 'chance' based on one CRA. Should probably say 99% or less though!

I wonder because my experian report is terrible, so if they could've declined me I'm sure they would have...... saying pre-approved I think there's a slight but subtle difference which means they couldn't....???

HarlowC

GingerBob wrote: »

So you've no relationship with this bum company but they've no doubt taken copies of your passport, or whatever else, with the distinct possibility that they will "lose" the copies or otherwise compromise your personal data.

Yes, exactly. I would advise anyone to avoid Capital One at all costs. I will never apply for one again. Besides, there are much better credit "building" cards for people out there.