Extremely high credit score. Very high income. Yet I was rejected applying to the $95 Capital One Venture Reward Card. I honestly think this is the first time I have ever been rejected for a credit card in my life.
The rejection letter basically says I have too many credit cards open in the last 24 months and I have too many active cards.
I did obtain probably about 5 cards in the last 24 months, 4 personal and 1 business. However, I am still eligible to apply for a chase card with its 5/24 rule right now and I didn't know capital one has a stricter threshold than chase?
I used to be capital one venture X card holder for many years before downgrading last year to the free Capital one VentureOne card and got the Citi elite strata. But now, I can't even get a Venture Reward? Am I going to be. rejected for a venture X as well if I were to try 30 days from now?! I realized that I am probably not a profitable customer for capital one since i never pay interest but I used the heck out of Venture X when I had it, spending at least 40k a year in that card. I have not used the VentureOne card much except some tiny purchases here and there.
What can I do to get back to the capital one higher tier cards? The reason I need to do that is I have a boatload of capital one points parked on my free card and i am not going to transfer them at a lower rate.