Welcome back to the channel, so as promised, I'm going to tell you why Capital One decided to decline me. They declined me and it's. This is my first decline post having credit. Obviously, and I've been declined, like I've told you my story plenty of times before you know not having credit and all that stuff, which is ok, but now that I have really great credit established credit.

They stood aside it to decline me. So that's today's video make sure you give me a thumbs if you found this video helpful everybody who voted on the community post. Thank you so much at the current time we recording this video was like 40, something which is my most ever so. I love the interaction.

Thank you so much. Some of you were spot on somewhere so or wrong, but it doesn't matter and we'll give you to answer right now. So let's see right into the video all right. So let me just give you a little background, so I decided I wanted to apply for the Capitol one of the venture venture card.

The venture one card $ 95 annual fee waived the first year. You get fifty thousand bonus miles. If you spend. I believe it was three thousand or two thousand in the first three months or something like that kind of forget what it was at this point, but I'll put a screenshot of what exactly was so.

I was like you know what you know. This should be pretty easy. To get. Credit is not bad credit, it's not an issue just a hint.

The credit was not an issue, but they have credits, not an issue. You know last time I checked it was about 780, something so credit was definitely not at issue. It kind of came down a little bit because I had just did some. I got another credit card, so credits not an issue regardless, alright, so I'm like okay.

This should be easy, but every time I do these applications I get nervous. So this is that one time I was just like I mean I'm kind of nervous. Let me apply and I have somebody else read it to me and they were like. We regret.

We regret to inform you, we cannot approve you and I'll turn my iPad around and I'm like what and it was a humbling experience. I'm not saying everything that you applied for all the time you're going to get. But when you play this credit game, you will get declined and here is the letter right here. You know I block blocks some things out, but here's a letter right here pretty much telling me where I got the class, I'm gon na, read it to you guys right now.

So again this is capital on a capital and venture card, some of the perks. Again, probably one of the biggest perks is the annual fees waive the first year. You get fifty thousand bonus miles and I think probably the best perk and the reason I was trying to get it was the TSA PreCheck slash Global Entry. Credit is given to you as given to you, so it costs $ 100.

If you want Global Entry and TSA PreCheck, that kills the annual fee right there. That's not, including you know the 50000 bonus miles. You're gon na get that you can obviously use as a statement credit up to $ 500 or your future purchase or you can transfer over to some airline partners or things like that. So also the 10x Hotels, calm things like that are really nice.

So I was definitely gon na kind of keep this. Maybe I'm just definitely probably gon na be a keeper card. Maybe if I did decide to keep this probably downgraded so there were no annual fee portion and I didn't find it helpful, but let's get into wild was declined, okay, because this is what everybody was waiting for and again everybody. Thank you for the comments.

So that's read: let's go so dear Walter! Thank you for applying for a credit card issue by Capital, One. Unfortunately, after reviewing your application information obtained from your consumer report, consumer credit report or reports from the agency's detailed on the back of this letter. If we cannot approve your request at this time, let's go right here. Capital One to this point is the only company and I'm not bashing them the only company that I know that you have to get all three credit bureaus ran: TransUnion, Equifax and Experian.

So I had to call each credit bureau unfreeze my credit for each of them. I keep my credit frozen for security reasons. Obviously, and it's free, you want a video on that I'll put the tab right up here right here. So if you want to know why, I freeze my credit right up there and why you should definitely a great tip.

A lot of people may not know in the past, but I had to do that. I had to go through all that legwork and unfreeze. All of my credit reports, as opposed to typically with like Amex or Chase it's only just one, so that was the biggest part of it kinda, just like wow, okay, I got to do all this and I better get this card. So the reason for our decision that you were declined was based on your credit report from one or more of the credit agencies.

On the back of this letter, the number of Bank trade lines opened in the last 24 months. I thought that was chases job. I mean I'm not mad, I'm not upset, but at the end of the day this is a game that we play. I thought that was chases job.

I thought it was chase 5:24, but now it seems, like capita was doing the same thing and it doesn't seem as if too many people talk about it. Now, I'm not mistaken. I think Dwayne did talk about this with Capital, One I'm not sure if he got the clown go now, so don't quote me but Dwayne from how to build credit CV. If you know this was correct it please.

Let me know comment on the video, but I believe you taught everybody that you got to climb for Capital, One for the same thing: I'm not sure 100 %, but I'm pretty sure but yeah. I thought that was chases job okay, so I'm gon na call this a new rule. It's called the cap wall, that's what I'm going to call it. So it's gon na be right here.

This is my thing when it comes to capital, one so for chase its chase 5:24 for Capital, One I'm calling it the cap rule the c.a.p role. Okay, why? It appears to me that you know to chase files when I'm already over 524? Okay, so I was just like you know what I got a couple credit cards falling off in the next month. Three months. I believe one is in two months: one is in like four months.

When is it about five or six? So I would date there. You know that's pretty much gon na be bringing it out of three, so I'm not okay, I'm gon na get to capital one car and I'll probably be at four. That's cool I'll still have like one or two kind of spots to get my Chase Sapphire reserved or preferred, or the hire car, whichever one I choose to get Capital, One seems like they're doing the same thing and what I'm thinking is it's pretty much probably 524. I guarantee you, it is 524, which means you've had credit cards from any institution opened up within the last 24 months.

You've had five or more the cap rule maestro said it first, the cap rule. So I guess that's what it is you guys. Let me know what you think, but I was kind of filling myself and I'm like listen you're, not just going to decline me. You know.

I worked too hard to get declined. I'm gon na get something today, alright, so I actually did get approved for another credit card the same day and that credit card is gon na, be in our next video. I'm gon na tell you what that credit card was how I got approved, not with Chase not with Capital, One obviously with the cap rule and 5:24 for Chase, not those definitely with the different Bank. My favorite banks, if you guys know who I am you know what it is.

So if you know my favorite Bank put it down in the description below, I'm pretty sure you guys are going to get it, but I will tell you which cart with that Bank, that I got next video and what I'm going to do to kind of use. This and if you guys considered it or if you guys are kind of you, have it already how to really maximize this, because it comes with a really nice honor bonus. So I was really happy but guys make sure you like share and subscribe this video. We are close to 2,000 subscribers once we do that, I am giving away those for $ 25 Amazon gift cards, as promised.

You never know what you guys think give me feedback on this. Let me know if you've had any trouble with Capital One you know in the past or now I'm not bashing them, but they are definitely taking they're. Definitely following behind Chase with the Fox from the for rule and now buddy got something here called the cap rule you've heard it here first, so again guys thanks so much, thus winning it. You have himself a good day.

Talk to you soon.