Adding my data point to the discussion.

I have been in this game for a really long time, and received my first personal cc decline in well over 30 years this month for the Venture after applying with the latest mailer with invitation code.

I was paying attention to this thread and some of the bloggers so well aware Cap 1 has been paying attention to those of us in this hobby since the 100,000 miles give away years ago (thanks Cap 1 for that).

I am at 5/24, have 12 open cards, have balance showing on 4 of the 12 as of the time of application since I do not pay cc balance before the statement posts, but have always paid off in full immediately after it does. My homes and vehicles paid for so no other active accounts, and very good income and credit score. I have over 35 other closed accounts by me also showing on my reports that include the sole Cap 1 card I ever had that closed the end of 2011. This was the response I received.

Dear isle-hawg Application ID: XXXCreditor: Capital One Bank (USA), N.A.Thank you for applying for a credit card issued by Capital One®. Unfortunately, after reviewing your application and information obtained from your consumer credit report(s) from the agencies detailed on the back of this letter - we cannot approve your request at this time.

The reason(s) for our decision are:

• Based on your credit report from Equifax, too few or no revolving accounts have a balance.

• Based on your credit report from Trans Union, there are too many new revolving accounts.

If you feel we missed something or misread your information, then please write to us at P.O. Box30280, Salt Lake City, UT 84130-0280 and include your Application ID number referenced above.(Please note: we recommend you contact the credit agencies first to ensure they have accurately reported your information to us. Contact information is provided on the back of this letter.)We know this isn't the answer you were hoping for, but we hope there is an opportunity to provideyou new products and services in the future.Sincerely,Capital One Customer Care Team