Q: I have a credit score of 790 and can't seem to get approved for a Capital One card. What do you think the problem is?
I suggest you call Capital One and speak with a customer service rep. Go as far up the management chain as you have to to get a response. This is the most straightforward way to determine the cause. But having said that, you may or may not get a satisfying response.
Next, get your free credit report and a current FICO score. There could be an error on your credit report that's affected your score. If this is the case, follow the necessary steps to remove the error and let Capital One know about the discrepancy.
There's also the possibility that there's something disturbing on your credit report that isn't an error, and this is causing your application to be denied. Is it possible you've made a late payment in recent months and this is causing concern with Capital One? Another possibility is that if you've applied for a lot of credit recently, Capital One may have seen that as a sign that you're somehow desperate for credit and really need financial help. This sets off alarm bells with issuers.
If after following through on these steps Capital One still rejects you, remember they're not the only issuer out there. With your excellent credit, I think you can find a card from another issuer that will satisfy your needs.
- My credit score is 743. Every time I apply for a credit card I'm denied. I'm told I have too many balances on cards. I have two credit cards only totaling less than $2,000. I'm not sure what the problem is. I own a home, I make $85,000 on my own and I also have income coming in from my husband. What am I to do? Good credit, almost no credit cards, and I'm never late with anything. Any suggestions?
- Can I include my spouse's income on a credit card application?
- Do you need a job for a credit card?