Can I Get Appoved Again if I Closed a Store Credit Card

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To improve your odds of getting a Majuscule One card, you should know about the other factors that could impact your application.

With competitive rewards and 0% intro April offers, Capital One credit cards are pop with consumers. If you've found one you like and have excellent credit, y'all may think you won't have any trouble getting the card.

That'southward not always the case. It'southward true that a credit score of 800 is more than enough for any Capital One carte. In fact, you tin can authorize for the carte issuer's best rewards credit cards with a score of 670 or college.

However, at that place's more to the awarding process than that. Capital One could deny you for reasons that take nil to do with your credit score. To avoid wasting your time, it's of import to know what these reasons are.

Capital One application rules

There'southward one Upper-case letter Ane awarding rule that applies to all its credit cards: You can't make more than than one awarding every vi months.

Afterward you lot employ for a Capital One card, y'all need to wait at to the lowest degree six months before applying for some other, regardless of whether Majuscule One approved yous or non. A high credit score won't become you around this restriction.

Capital letter One also has rules almost the maximum number of Capital Ane cards y'all tin take and the minimum income requirements for its cards. The tricky part is these rules vary depending on the Capital letter I card yous desire.

Here'south what this ways:

• Credit card limits: With some cards, such as the Uppercase One Venture Rewards Credit Carte du jour, y'all'll be ineligible if y'all already have 5 or more Capital One cards. With others, you lot'll be ineligible if you have two or more Capital One cards.
• Minimum income requirements: For some of its cards, Capital One requires that your monthly income exceeds your rent or mortgage by at to the lowest degree $425. For others, your monthly income must exist at least $800 greater. Note that Capital letter One reserves the right to deny your application for insufficient income fifty-fifty if yous see these requirements.

You can find the verbal rules for the card you lot desire on Capital Ane'south site. Just visit the card'due south folio, go to the "Rate and fee information" section, and so ringlet down to "Additional Disclosures & Terms and Weather."

You'll see a list of what can disqualify you from getting that Uppercase I credit carte. If at that place are any credit card limits or income requirements, you'll find out here. Like the application rule, you tin't go around these restrictions, regardless of your credit score. You need to pass these rules for Majuscule I to approve you.

What to practice if Capital I denies your awarding

If you couldn't open a Capital One card considering of its awarding rules, the only way to get approved is by correcting the trouble. How you do that will depend on what the problem was.

• You've already applied for another Capital Ane card in the concluding six months: Expect until six months have passed, and then try applying again.
• You're at the Capital Ane credit bill of fare limit: Yous'll need to cancel one of your Uppercase One cards if you desire to add together a new 1.
• Your income wasn't high plenty: Make sure yous included all forms of eligible income on your credit carte du jour application. If you didn't, you can call Capital Ane to correct your reported income and see if that gets you canonical. If y'all did, your merely options are to increase your income or find a Capital One card with lower income requirements.

Those aren't the only reasons Capital letter I would deny your credit card application. Even when you have a dandy credit score, there could be other reasons, such as likewise many recent applications for other credit cards.

If the denial was not due to Capital One's awarding rules, you can try calling for a reconsideration. The best number to call is 1-800-625-7866, which is Capital One's application services line.

When you call, ask the representative if they could reconsider your denied application. It can assistance to point out that y'all've handled credit well in the past (and have an excellent credit score to show for it). Depending on why you were denied and the representative yous speak to, you lot could end upwardly getting your application canonical later on all.

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Source: https://www.fool.com/the-ascent/credit-cards/articles/why-you-may-not-get-approved-for-a-capital-one-card-even-with-an-800-credit-score/