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The Wacky Reason I Was Denied for the Capital One Venture Card (and What I Plan to Do About It)

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The Wacky Reason I Was Denied for the Capital One Venture Card (and What I Plan to Do About It)

Meghan HunterThe Wacky Reason I Was Denied for the Capital One Venture Card (and What I Plan to Do About It)Million Mile Secrets Team

Signing up for credit cards through partner links earns us a commission. Here’s our full Advertising Policy.

Over the past year or so I’ve gotten a handful of targeted offers in the mail for the Capital One® Venture® Rewards Credit Card.  I held off on applying because I had other Chase cards I wanted, and I didn’t want to be restricted by Chase’s 5/24 rule.

But a few weeks ago I received yet another mailer, and this time the offer was for 60,000 Venture miles after meeting the card’s minimum spending requirement.

I Was Excited About the Possibility of Using Venture Rewards to Stay at a Boutique Hotel Like Giraffe Manor in Kenya

I have a couple of big expenses coming up, and I’ve always been intrigued by the ease of earning and using Venture miles.  So I decided to apply.

I’ve had a Capital One® Quicksilver® Cash Rewards Credit Card open for a long time, but I rarely use it because I now focus on earning miles & points with the other cards.

The Application Process

Filling out the application was simple and only took me a couple of minutes.  I submitted my application thinking that my approval was more or less guaranteed.  But then, the dreaded “we can’t approve you at this time…yadda yadda yadda” message appeared.  And I must admit, I was kind of offended!

How could I be denied for a card that they’d been pushing on me for so long?  I have a great credit score, so what’s going on?  Did I mistype something into the application?  This can’t be right!

I immediately got on the line with Capital One to figure out what was going on.  I’ve had applications go pending before, but I’ve never been outright denied.

Upon talking to a Capital One representative, they told me there was nothing they could do until I received a letter or email explaining the reason for my denial.  So I impatiently patiently waited for one.

The Reason for the Denial

About a week later I got both an email and letter stating that Capital One wouldn’t approve me for the Venture card because “too few or no revolving accounts have a balance.”

Yes, you read that right.  They’re denying me because I’m a responsible credit card holder and pay my bills on time.

I’m Not Going to Lie, Getting Denied for a Credit Card Stinks.  But I Still Plan on Following Up With the Bank to See If There’s Anything I Can Do to Be Approved!

I’m still in the process of following up with them to see if there’s anything I can do to get approved.  I plan on explaining how much spending I plan on putting on the card and reminding them of the fact that I’ve been a longtime Capital One customer.

Have you ever been denied for a card?  Were you eventually successful in getting approved after calling the bank’s reconsideration line?  Tell me about it in the comments!

Also, be sure to check out our review of the Capital One Venture card.  It’s our top pick for the easiest to redeem travel rewards.  And is a fantastic card for anyone looking to avoid the hassle of dealing with award charts, blackout dates, and bonus categories!

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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My credit scores are 780+ and 803, have NEVER been turned down for credit, have never paid a bill late, and I was turned down for the Capitol One Venture card– reason given was according to TransUnion (none of the other credit bureaus were mentioned) because of “the number of bank cards tradelines opened in the last 24 months”. I wrote them to reconsider my app, and included info on how much $ I have in the bank, told them that the 2 cards I had gotten in the last 24 months were simply for 0% balance transfers, blah blah blah. Turned down again. Called and got the biggest runaround. What a crappy bank!

Ugh, sorry to hear that Sherry, I know that’s got to be beyond frustrating. It just goes to show that banks all have their own criteria and look at more than just credit scores.

I’d try calling at least maybe another 2-3 times though for a reconsideration. You might get a different answer and one Yes is all you need!

But if that still doesn’t work and it’s a card you really want, I’d recommend just sitting tight for maybe 6-12 months and then try reapplying again.

I’ve had some banks that were really hard for me to get in with at first, but once I was in I was in and treated pretty well! So I’m glad I didn’t let my initial bad experience drive me away.

I had 2 Cap One cards, long time customer. I recently closed my oldest Cap One card due to a low CL and no perks, it was a starter secured card to rebuild my credit after bankruptcy about 8 years ago. I have a quicksilver with 12K CL and decided I also wanted the Venture card for travel. I was preapproved so I applied and received the “thanks for your app, we need to review and you’ll receive a letter in 7-10 days letting you know your status” message. Now anytime I’ve ever gotten that I’m usually denied. Hopefully that’s not the case, but I’m not hopeful.

My credit score is 730, I have 3% credit/balance ratio, all my major credit cards have high CL (>10K), my oldest account is 13 years, no negative marks other than the very old bankruptcy, and I have high income. Only issue I can see is I might have exceeded the 5/24 rule as I opened several retail CCs to purchase things for my house I bought last year, plus 2 major CCs within the past 2 years.

Fingers crossed!

You never know, I’ve read many instances of a 7-10 day turning into an approval! Good luck!

I applied in the fall of 2018. Also was denied. Letter came in the mail saying I had applied for too many CC’s in the recent past (or something along those lines). I was over 5/24 at the time, so I suspect that was the issue.

I plan to reapply this summer (I am actually under 5/24 now), but want to put a bit more time between the denial and the reapplication. Hoping that will do the trick.

I think when I applied it was a 70K point offer.

Have been considering applying for the Chase Sapphire or CapOne Venture card so decided to take the plunge and go for the Chase card. After submitting the online application, received the dreaded “We’re unable to approve you at this time…”

Credit score as of Jan was over 850 and I recently paid off my mortgage, so I’m puzzled. The only issue I can think of is that I opened approx 6 cards over the last two years. Maybe CapOne has something similar to the bogus Chase 5/24 rule?

I was recently looking for a new card with a signup bonus. Credit Karma recommended that I obtain the Capital One Quicksilver Cash Rewards Credit Card, which offered a $150 welcome bonus after spending $500 in the first 3 months from account opening, unlimited 1.5% cash back, and a 0% intro APR on purchases for the first 15 months.

I cannot remember the last time I was not approved for a credit application. I maintain a high credit score and could not imagine why they would reject me. When I finally received the letter, it said, “Based on your credit report from Trans Union, length of credit history.”

My credit card usage is less than 1% and I maintain a nearly $0 balance on the cards I use. My Trans Union score is 832 and my length of credit history is 6 years 2 months with my oldest card at 14 years and my newest card at 10 months. A 7-year average credit history is rated excellent by Credit Karma.

I believe that Capitol One is rejecting applicants that are “too good” at managing their credit and is responding with whatever happens to be the lowest rated section from their credit report. When that fails, they respond with, “too few or no revolving accounts have a balance.”

Credit card companies do not make their money from people that pay their balance every month. They are being pickier on both sides of the applicant spectrum to generate the maximum amount of income with the least amount of risk. I am not sure this is true, but I know that I will not give Capitol One my business in the future due to the slight.

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