CapOnePlat -Crazy Denial/PFB (long)

I received a pre-approved Cap One Platinum offer, 0% until July 02, 14.9% after that, no fees.

Instead of mailing it back, I applied online and was denied!

I have EXCELLENT credit. Two platinum cards with $10K and $9K limits, and a gold card with $10K limit. None of the cards ever carry a balance, as I pay them off every month. I have many old, good tradelines. Zero derog tradelines. A boat loan (on time always), and a mortgage (a first and a second for an 80/10/10 loan). My risk scores are in the low 700's.

Their reasons for denial were:

(1) NUMBER OF ACCOUNTS OPENED IN PAST 16 MONTHS
(2) BALANCES OWED ON BANK ACCOUNT CARDS
(3) LACK OF BALANCE TRANSFER REQUEST

Here's all I can come up with:

(1) All my credit cards are 2-3 years old. In the past 16 months, I got a mortgage for a house. 10 months later the loan was sold. 1 month later I refinanced the loan. 5 months later I sold the house and built a new one, obtaining a first AND second mortgage (80/10/10 program to avoid PMI insurance). The are the ONLY accounts "opened" in the past 16 months, so their approval/denial computer program must be ignorant to refinances and loans being sold to other banks.

(2) I have $10K, $9K and $10K limits. The balances on these cards have NEVER been over 500 or 600 bucks. What gives there ?!?!

(3) Lack of balance transfer request? What, because I didn't want to IMMEDIATELY get into debt with Capital One, they won't give me a card? Heck, I have no balances to transfer !!

ANYWAYS ...

I decided to give PlanetFeedback (PFB as everybody calls it) a try. Sent off a very nice letter stating that I was "annoyed" at the denial reasons, because they were unfounded. I also voiced my displeasure in being told one reason that I was denied was because I didn't IMMEDIATELY transfer some debt to them.

I was shocked when, not more than 10 minutes after the email was sent, Mr. Eugene Cook from the Executive Offices of Capital One called me on the phone!

He very well understood my complaint, and agreed that it might be because of all the mortgage trade lines generated from my loan being sold/refinanced/paid off/new loans happening with a 2 year period. He also apologized for the "LACK OF BALANCE TRANSFER REQUEST" denial reason, and agreed with me that it wasn't fair.

He said he would resubmit for a manual review and call me back Monday.

Let's see just how good Captial One is this time ...