topic Savor One Approval in Credit Card Approvals

Savor One Approval

getridofccdebt — Thu, 30 Dec 2021 21:17:16 GMT

Almost 3 years post filing chapter 7. Cap 1 was burned. Have platinum which has grown to $2300 CL from $300. Have QS that hasn't grown. Still at $600 CL

New savor one SL $3000

Should I close the QS?

Re: Savor One Approval

coreyb80 — Thu, 30 Dec 2021 21:23:41 GMT

Congrats on the approval!

Re: Savor One Approval

Trini88 — Thu, 30 Dec 2021 21:31:21 GMT

Congrats on your approval!

Re: Savor One Approval

mrcraft — Thu, 30 Dec 2021 21:34:58 GMT

Congratulations on your Savor approval!!

Since QS is AF-free and probably helping with your average age, you might want to keep it open.

Re: Savor One Approval

CreditCrusader — Thu, 30 Dec 2021 21:35:51 GMT

@getridofccdebt wrote:
Almost 3 years post filing chapter 7. Cap 1 was burned. Have platinum which has grown to $2300 CL from $300. Have QS that hasn't grown. Still at $600 CL
New savor one SL $3000
Should I close the QS?

Was this a cold app or an app after pre-qualifying?

Re: Savor One Approval

getridofccdebt — Thu, 30 Dec 2021 21:41:09 GMT

Pre qual. Trying to update my cards to better ones now that I am pulling away from the chapter 7.

Re: Savor One Approval

CreditAggie — Thu, 30 Dec 2021 22:09:11 GMT

Congratulations on your Savor One approval!

Re: Savor One Approval

CreditMagic7 — Thu, 30 Dec 2021 23:08:46 GMT

Congratulations on your Capital One Savor One new approval!

Re: Savor One Approval

M_Smart007 — Thu, 30 Dec 2021 23:33:13 GMT

Congrats on your Savor One Approval ...

Re: Savor One Approval

Anonymalous — Thu, 30 Dec 2021 23:39:45 GMT

@getridofccdebt wrote:
Almost 3 years post filing chapter 7. Cap 1 was burned. Have platinum which has grown to $2300 CL from $300. Have QS that hasn't grown. Still at $600 CL
New savor one SL $3000
Should I close the QS?

Have you tried the C1 upgrade link that's available all over the web? Based on your other cards, you can probably upgrade the Platinum to a QS. You'd still be stuck with the Platinum's higher APR, but otherwise you'd end up with the best of the two cards ($2300 CL, 1.5% CB).

Re: Savor One Approval

getridofccdebt — Fri, 31 Dec 2021 00:17:36 GMT

Well that was easy. Sure enough I was able to upgrade to QS with the higher CL. I'll close the other QS now

or maybe I can combine to two?

Re: Savor One Approval

Who_wuda_thought — Fri, 31 Dec 2021 01:16:22 GMT

With a thin file and not a large TL amongst cards, I'd hang on to any no AF cards to keep every $$ available for utilization wiggle room. Plus, there may be growth to come for that QS tho slower, and there may be a C1 card in the future you could upgrade the lower limit QS to.

Re: Savor One Approval

getridofccdebt — Fri, 31 Dec 2021 01:30:25 GMT

It doesn't look bad to have two of the same cards?

@Who_wuda_thought wrote:
With a thin file and not a large TL amongst cards, I'd hang on to any no AF cards to keep every $$ available for utilization wiggle room. Plus, there may be growth to come for that QS tho slower, and there may be a C1 card in the future you could upgrade the lower limit QS to.

Re: Savor One Approval

Total80sKid — Fri, 31 Dec 2021 05:18:29 GMT

Congrats on your Capital One approval 👍🏼

Re: Savor One Approval

Who_wuda_thought — Fri, 31 Dec 2021 06:24:10 GMT

@getridofccdebt wrote:
It doesn't look bad to have two of the same cards?
@Who_wuda_thought wrote:
With a thin file and not a large TL amongst cards, I'd hang on to any no AF cards to keep every $$ available for utilization wiggle room. Plus, there may be growth to come for that QS tho slower, and there may be a C1 card in the future you could upgrade the lower limit QS to.
Nah, you'll notice on your actual credit reports that your cc's aren't identified by the product name, but rather by the FI and some of the digits of the account number and type of credit (credit card, charge card, secured credit card, etc.).

Lots of folks actually utilize several of the same exact card in some cases to maximize rewards.

When you have a good amount of total credit available for utilization, depending on your financial and credit building goals at that time, you might then consider dropping the card if you haven't upgraded it with another suitable card by then. Closing a card doesn't hurt your score on some FICO scoring models, as a closed account in good standing can remain on CR's for up to 10 yrs or so sometimes. With a thin file though, the closing of the available credit limit is what can mess up your score (with utilization).

BTW... Congrats on the Savor One and the QS upgrade! WELL DONE! 👏

Re: Savor One Approval

SUPERSQUID — Fri, 31 Dec 2021 06:27:45 GMT

CONGRATS !!!!!

Re: Savor One Approval

mgood — Fri, 31 Dec 2021 12:03:34 GMT

Congrats!

Don't close a card that's not costing you anything to keep. Put some minor purchase on it every month or two and pay it off.

If you reach a point where you have a large portfolio of credit cards and this one is just extraneous baggage and you're trying to cut down on the number to make them easier to manage, then you might consider closing it. But not any time soon.

Re: Savor One Approval

Dp23 — Fri, 31 Dec 2021 15:40:15 GMT

Congrats on your approval

Re: Savor One Approval

getridofccdebt — Fri, 31 Dec 2021 15:56:23 GMT

Thanks so much for the info!

@Who_wuda_thought wrote:
@getridofccdebt wrote:
It doesn't look bad to have two of the same cards?
@Who_wuda_thought wrote:
With a thin file and not a large TL amongst cards, I'd hang on to any no AF cards to keep every $$ available for utilization wiggle room. Plus, there may be growth to come for that QS tho slower, and there may be a C1 card in the future you could upgrade the lower limit QS to.
Nah, you'll notice on your actual credit reports that your cc's aren't identified by the product name, but rather by the FI and some of the digits of the account number and type of credit (credit card, charge card, secured credit card, etc.).

Lots of folks actually utilize several of the same exact card in some cases to maximize rewards.

When you have a good amount of total credit available for utilization, depending on your financial and credit building goals at that time, you might then consider dropping the card if you haven't upgraded it with another suitable card by then. Closing a card doesn't hurt your score on some FICO scoring models, as a closed account in good standing can remain on CR's for up to 10 yrs or so sometimes. With a thin file though, the closing of the available credit limit is what can mess up your score (with utilization).

BTW... Congrats on the Savor One and the QS upgrade! WELL DONE! 👏

Re: Savor One Approval

UH_HUH — Fri, 31 Dec 2021 17:32:26 GMT

Congratulations on your Savor approval @getridofccdebt

Very nicely done,

Enjoy,

Cheers