Capital One declining card after Guaranteeing you will be accepted

gretc0011974

Used your search engine to find a 0% card to transfer a balance on a previous card. Capital one came out best and quoted I was guaranteed to be accepted.

My experian score is in the excellent range

several days later letter received say application unsuccessful, however I am still receiving emails from capital one asking me to apply and again guaranteeing my application - subject to checks against fraud which I have no issues. The emails do not even have an unsubscribe link to prevent me getting continually slapped in the face by their refusal to provide the card they said I was guaranteed to get.

It seems Capital one are only looking for customers where they can get money from earning interest and not from those looking to consolidate loans to have 0% rates.

Nasqueron

gretc0011974 said:

Used your search engine to find a 0% card to transfer a balance on a previous card. Capital one came out best and quoted I was guaranteed to be accepted.

There is always a caveat that "guaranteed" is not actually guaranteed, it's just a best guess that they don't know until you apply as MSE does not have access to Capital One systems

My experian score is in the excellent range

Irrelevant, lenders never use or even see that number

several days later letter received say application unsuccessful, however I am still receiving emails from capital one asking me to apply and again guaranteeing my application - subject to checks against fraud which I have no issues. The emails do not even have an unsubscribe link to prevent me getting continually slapped in the face by their refusal to provide the card they said I was guaranteed to get.

MSE guaranteed it, not Capital One. Capital One did not slap you in the face, their system said you were not suitable for their card

It seems Capital one are only looking for customers where they can get money from earning interest and not from those looking to consolidate loans to have 0% rates.

That is more likely to be the issue - debt consolidation does not work and does not address the underlying issues of why someone is in debt and further, does not prevent said debt being run up again once a card is cleared. The CC market is unfair in that the people who don't need credit get the best deals, the people that do, get the worst (in simple terms!). That is the nature of business.

Answers in bold above

DE_612183

CC companies use a range of criteria to assess whether to enter into a contract with an individual, it could be that you are a previous customer, or it could be they can see from your credit report that you are a serial shifter.

Hoenir

gretc0011974 said:

It seems Capital one are only looking for customers where they can get money from earning interest and not from those looking to consolidate loans to have 0% rates.

Finance companies now have a legal duty to lend responsibly. Likewise there'll be assessing the possibility of default. After considering the past 72 months of activity on a credit file. Endlessly rolling over debt has to cease eventually.