So I finally get a letter back from Capital One saying I wasn't Approved because they couldn't Validate my information... what the hell does that mean? I even faxed proof of address and social... How could they not Validate! I feel like I wasted a Hard Pull on my credit because they couldn't do they're job.
Bummer...that seems like a very strange response too. Especially since it sounds like they didn't tell you what info. they couldn't verify. Don't stress out too much over the hard pull though. It shouldn't hurt your credit scores that much before they bounce back to normal.
Yea but they have the nerve to say wait 45 days and apply again.. im like huh? U couldnt validate then how could they validate now ya know... Y
Annoying! I know...Cap One does strange things sometimes. I can't figure them out. My FICO scores are in the 800 range and they denied me for a card about a year ago because my mortgage hasn't been paid down enough. I bought my first condo in 2004 and having been paying the mortgage ever since- even extra principal payments from time to time. I also have another Cap One card, so go figure...I think sometimes they just decline and pull random reasons out of their butt because they've already filled their monthly quota for new card sales. Who knows?
Ok, here's the deal... if you get that 7-10 day message on the website after applying, take that as a caution. The first thing you should do about 24-hours later is hop on the phone and give THEM a call rather than sitting around for the 7-10 days. Tell them you're a little anxious and jumping the gun, but want to make sure they have all of your information and if there's something missing, you can gladly verify it on the phone or fax it in as it seems you've done already. Here's the "Gotcha!". When they ask for your date of birth, always say mm/dd/yyyy, no more of that mm/dd/yy -- we're in the new Millennium and that's how they are denying people who say or write their date of birth. I heard this directly from their Account Specialists.
