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Posted in Credit Cards
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Question By
Rod1025

1 Contribution
0 People Helped
How long should I wait to apply?
I was denied for a credit card and I'd like to apply for the Capital One Venture One. How long should I wait? Do I have a better chance if I do wait?

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3 Contributions
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It depends

Helpful to 1 out of 1 people

You typically don't want more than 2 credit inquiries in less than 6 months apart on your report. You may also want to find out why you were denied for a credit card in the first place. You should recieve a letter in the mail with their reasons, but if you don't, since you were denied you can get a free copy of your credit report. If you did get a letter, look at the reasons and try to make some adjustments to improve your chances for your next card. Most commonly, a reason for denial is credit history and/or current high balances. It can take some time (30-60 days)  to see changes to your credit report on your credit score.

So, a shorter answer, pay down your debt, find credit inaccuracies on your report, and wait 60 days (or 6 months if you have too many inquiries) before applying again.

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