Personal Finance

Declined with Capital One

  • Last Updated:
  • Jan 17th, 2016 11:39 pm
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Newbie
Jul 5, 2004
63 posts
13 upvotes
Ottawa

Declined with Capital One

A relative has a Capital One card that he pays $50/year for with zero benefits. He tried to apply to one of the points one, ensuring the card applied for was within their salary limits. However, he was declined. The letter from Capital One simply said our credit rating company declined your card. How can I determine the reason for the declined application? Also, what credit breau they use to get a credit report?
7 replies
Sr. Member
Mar 3, 2015
699 posts
95 upvotes
Scarborough, ON
If capital one declines your buddy than he must be very newcomer with no sin# or recently bankrupt Canadian.

He must be in financial mess. Because almost anybody is approved for their cards.
Deal Addict
Aug 31, 2014
1505 posts
564 upvotes
YVR, BC
jvriends wrote: A relative has a Capital One card that he pays $50/year for with zero benefits. He tried to apply to one of the points one, ensuring the card applied for was within their salary limits. However, he was declined. The letter from Capital One simply said our credit rating company declined your card. How can I determine the reason for the declined application? Also, what credit breau they use to get a credit report?
he is better off calling them and telling he would like to switch cards, some credit card companies like Capital One and MBNA don't like clients having multiple cards - with MBNA some people get declined for the 0% balance transfer card if they already have SmarCash etc.

Capital One uses Equifax for credit reports, the reasons for any decline are vague usually that the application does not meet requirements based on the report etc.
Deal Addict
May 15, 2013
2048 posts
636 upvotes
Alberta
supertronic wrote: If capital one declines your buddy than he must be very newcomer with no sin# or recently bankrupt Canadian.

He must be in financial mess. Because almost anybody is approved for their cards.
Newcomers (permanent residents) do have a SIN.

Anyway, the OP already has a CC with Capital ONE, just wanted a different one.
Newbie
Mar 20, 2015
91 posts
32 upvotes
Toronto, ON
jvriends wrote: A relative has a Capital One card that he pays $50/year for with zero benefits. He tried to apply to one of the points one, ensuring the card applied for was within their salary limits. However, he was declined. The letter from Capital One simply said our credit rating company declined your card. How can I determine the reason for the declined application? Also, what credit bureau they use to get a credit report?
There may be nothing wrong with his credit report. Capital One doesn't make sense sometimes. I had a similar issue, I asked to be transferred to a points card. They said "no". I asked that they waive my annual fee on my Guaranteed MC ($54/year). They said "no". With a TransUnion score at 808 and my Equifax at 778, I applied for the Aspire, no annual fee card. I was declined. The letter that came in the mail referenced my credit report. One week later, they upped my Guaranteed MC to $10K In their defense, my C1MC is less than a year old and I had applied for another credit card two days before I applied for the C1 Aspire - the latter is a problem for Capital One.

I just stopped using card to punish them. LOL
Deal Guru
User avatar
Dec 7, 2009
13885 posts
1368 upvotes
Capital One doesn't follow the same rules as other banks/cc's. I had a $300 card with them and over and over they offered me a credit increase. For 2yrs I ignored it. Then one day I picked up the phone and said "fine I'll take your credit increase" and they declined me without even checking my credit, because in their words, their "offer period expired." Basically, if you don't accept specific credit increases that you get from them in the mail, within a certain amount of time, they won't even entertain a request.

I would suggest going with a regular bank.
In a perfect system, corporations would fear the government and the government would fear the people. - David Wong

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Deal Addict
Feb 20, 2014
1264 posts
476 upvotes
Toronto
I've had their Guaranteed card for a while now... my limit is $8000. I've been thinking of getting one of their points cards but I'm hesitant to apply for it because I've read stories like this where they deny people for no good reason. I recently asked them to waive my annual fee and they did... a big reason why they agreed to it was because I've never missed a payment and I always pay in full every month. I find it always depends on the CSR who answers the phone, if you get one that isn't willing to help, probably best to hang up and call back.
Newbie
Jul 3, 2018
1 posts
I started with a credit score last January of 505 got an unsecured guranteed capital one card for 300 dollars, fixed my credit since then to a 675 on TU, no derogatory items on my TU only one small collection and its paid, and in that year with capital one never once carried a balance and used it perfectly, and they denied me for a credit increase now (16 months after opening account) so Ill likely just cancel, capital one is the absolute worst. If someone does what I did and still cant get over a 300 dollar limit theres literally no hope with them

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