topic Re: 1st Approval (No Credit)CapitalOne Savor in Credit Card Approvals

1st Approval (No Credit)CapitalOne Savor

creditgenius — Wed, 20 Sep 2023 17:50:08 GMT

Hello everyone,

I have been lurking and reading for a couple of months and decided to finally pull the trigger on my first card. I was approved for the cap one Savor One "good credit" card after looking at my pre-approvals.

SL is $300.

I am just looking for your expert advice now. I am assuming I do not try to apply for anything else until 90-180 days or until I have an actual score. Is there anything that you could recommend I do? Maybe open an installment loan now for credit mix?

My goal cards are Apple credit card, Amex and chase. I look forward to your responses.

Thank you!

Re: 1st Approval (No Credit)CapitalOne Savor

mgood — Wed, 20 Sep 2023 19:03:16 GMT

Congrats! SavorOne is a good card that earns 3% in a handful of useful categories.

I think the "for good credit " version means you won't get a sign-up bonus, but that's the only difference, as far as I know.

Re: 1st Approval (No Credit)CapitalOne Savor

creditgenius — Wed, 20 Sep 2023 19:20:43 GMT

Thank you for the response. I did not have courage to apply for excellent credit due to not have any so I don't mind not getting any bonuses at the moment. I am happy there is no AF for this version of Savor. Will this card be able to grow beyond its bucket?

Thank you.

Re: 1st Approval (No Credit)CapitalOne Savor

GZG — Wed, 20 Sep 2023 19:27:36 GMT

@creditgenius wrote:
Hi

Thank you for the response. I did not have courage to apply for excellent credit due to not have any so I don't mind not getting any bonuses at the moment. I am happy there is no AF for this version of Savor. Will this card be able to grow beyond its bucket?

Thank you.

assuming you have no negative credit history, it should be able to grow, at least modestly with spend and time

Re: 1st Approval (No Credit)CapitalOne Savor

mgood — Wed, 20 Sep 2023 19:33:54 GMT

@creditgenius wrote:
Will this card be able to grow beyond its bucket?

I wouldn't count on it growing very fast. My SavorOne started as a Platinum with a $300 limit, and it's at $5850, but I've had it for almost 8 years. Lots of small increases along the way.

Re: 1st Approval (No Credit)CapitalOne Savor

CreditMagic7 — Wed, 20 Sep 2023 19:40:05 GMT

Congratulations on your NEW SavorOne!!

Re: 1st Approval (No Credit)CapitalOne Savor

JoeRockhead — Wed, 20 Sep 2023 19:44:36 GMT

Congratulations on your approval!

Re: 1st Approval (No Credit)CapitalOne Savor

creditgenius — Wed, 20 Sep 2023 19:48:29 GMT

@GZG wrote:
@creditgenius wrote:
Hi

Thank you for the response. I did not have courage to apply for excellent credit due to not have any so I don't mind not getting any bonuses at the moment. I am happy there is no AF for this version of Savor. Will this card be able to grow beyond its bucket?

Thank you.
assuming you have no negative credit history, it should be able to grow, at least modestly with spend and time

Hi,

Thank you for your response.

I am building from scratch with absolutely zero history. Do you have any further recommendations?

Re: 1st Approval (No Credit)CapitalOne Savor

cashorcharge — Wed, 20 Sep 2023 19:54:56 GMT

WooHoo!! Congratulations on your Approval!!👏🏼🍾🥂

Re: 1st Approval (No Credit)CapitalOne Savor

mgood — Wed, 20 Sep 2023 20:24:58 GMT

Wait a few months, or at least until you have a credit score, then apply for a Discover it Cash Back. 5% on rotating categories and 1% on everything else. BUT they double that for the first year, so it's effectively 10% on some stuff and 2% on everything else.

Before that year runs out, get a good 2% on everything card and you have a nice set-up with a 5% rotator, a good 3% category card and a 2% card for whatever those others don't cover.

Don't just get whatever card you can get approved for. Have a plan and apply for cards that fit in your system.

Re: 1st Approval (No Credit)CapitalOne Savor

Priory_Man — Wed, 20 Sep 2023 20:33:18 GMT

First off congrats on your first card.
My advice to you now would be, first set the card up on auto pay, then to use the card often, pay the balance and not just the minimum. Start to build a relationship with Cap 1. Once you get a score then shoot for the Discover card probably in 6 to 8 months. Do the same with it as you have with the Cap 1 card. Then look for a 3rd card after a year, don't do as so many do in the beginning and app for anything and everything. This credit game is very much a marathon and not a sprint.

Re: 1st Approval (No Credit)CapitalOne Savor

SouthJamaica — Wed, 20 Sep 2023 21:06:35 GMT

@creditgenius wrote:
Hello everyone,

I have been lurking and reading for a couple of months and decided to finally pull the trigger on my first card. I was approved for the cap one Savor One "good credit" card after looking at my pre-approvals.

SL is $300.

I am just looking for your expert advice now. I am assuming I do not try to apply for anything else until 90-180 days or until I have an actual score. Is there anything that you could recommend I do? Maybe open an installment loan now for credit mix?

My goal cards are Apple credit card, Amex and chase. I look forward to your responses.
Thank you!

1. Welcome to the forum.

2. Wow, you got a Savor card without a credit score? That's impressive.

3. Yes I would definitely wait until you have a score. Be sure to treat the Savor card nicely. Using it

and paying it down over and over again.

4. Once you have a score, let's talk again

Re: 1st Approval (No Credit)CapitalOne Savor

creditgenius — Wed, 20 Sep 2023 22:13:46 GMT

@mgood wrote:
Wait a few months, or at least until you have a credit score, then apply for a Discover it Cash Back. 5% on rotating categories and 1% on everything else. BUT they double that for the first year, so it's effectively 10% on some stuff and 2% on everything else.

Before that year runs out, get a good 2% on everything card and you have a nice set-up with a 5% rotator, a good 3% category card and a 2% card for whatever those others don't cover.

Don't just get whatever card you can get approved for. Have a plan and apply for cards that fit in your system.

I ran pre-approval on discover it came back for secured. I am definetely going to hold tight before applying for anything else so that when I apply for a disco its unsecured right away.

Those rewards sound exciting!

Re: 1st Approval (No Credit)CapitalOne Savor

creditgenius — Wed, 20 Sep 2023 22:15:06 GMT

@SouthJamaica wrote:
@creditgenius wrote:
Hello everyone,

I have been lurking and reading for a couple of months and decided to finally pull the trigger on my first card. I was approved for the cap one Savor One "good credit" card after looking at my pre-approvals.

SL is $300.

I am just looking for your expert advice now. I am assuming I do not try to apply for anything else until 90-180 days or until I have an actual score. Is there anything that you could recommend I do? Maybe open an installment loan now for credit mix?

My goal cards are Apple credit card, Amex and chase. I look forward to your responses.
Thank you!
1. Welcome to the forum.

2. Wow, you got a Savor card without a credit score? That's impressive.

3. Yes I would definitely wait until you have a score. Be sure to treat the Savor card nicely. Using it
and paying it down over and over again.

4. Once you have a score, let's talk again

Thanks! Yeah, I was curious and ran the pre-approval and it supplied the good credit options so I took it! I will treat her nice! See you very soon! I am excited to start this journey.

Re: 1st Approval (No Credit)CapitalOne Savor

mgood — Wed, 20 Sep 2023 23:00:14 GMT

You started with a good card and not something you'll be trying to get rid of in the near future.

Re: 1st Approval (No Credit)CapitalOne Savor

brilliantadventure — Thu, 21 Sep 2023 00:20:15 GMT

Congrats! That's a great first card!

Re: 1st Approval (No Credit)CapitalOne Savor

BigBS — Thu, 21 Sep 2023 01:25:45 GMT

Congrats on the approval!

Re: 1st Approval (No Credit)CapitalOne Savor

KingRue8500 — Fri, 22 Sep 2023 23:32:24 GMT

Congrats on your Capital One SavorOne Rewards approval

Re: 1st Approval (No Credit)CapitalOne Savor

citymunky — Sat, 23 Sep 2023 03:38:08 GMT

Good foundation card, since their are no annual fees, you can keep this card open forever.

Tips, spend at least 30% of you current limit every month. Pay off your balance in full before the statement date (my SavorOne statement date is the 25th of each month). After 6 posted statements request a credit line increase (CLI).

If approved for the CLI, repeat the process. If denied for a CLI, spend over 30%, paid in full and keep requesting monthly until a CLI is approved, than repeat the process.

Re: 1st Approval (No Credit)CapitalOne Savor

NoMoreDebt — Sat, 23 Sep 2023 11:00:52 GMT

Congratulations on your approval