topic Re: Approval Odds for a Capital One SavorOne? in Credit Card Applications

Approval Odds for a Capital One SavorOne?

Anonymous — Wed, 07 Jul 2021 02:10:22 GMT

I have a bit over two years of credit history tho a thin file. Just a few HPs with some falling off in a few months. 20% or so uti but i can change this to 1% if needed. Around 750 FICOs.

I applied for this card in late 2019 depsite a pre-qualifcation but was denied for mulitple reasons. One of them being short history.

Going by their own website it says for Excellent credit:

"I’ve never declared bankruptcy or defaulted on a loan; I haven’t been more than 60 days late on any credit card, medical bill, or loan in the last year; I’ve had a loan or credit card for 3 years or more with a credit limit above $5,000."

None of that applies to me so it seems like i'd fall into their "Good Credit" category and not qualify for a SUB on this card.

With that said it still seems like getting an approval from them on this high tier card is fickle. If your denied it's a triple pull with nothing to show for it. Also there is alot of scattered colorful words about them...

Thoughts?

Re: Approval Odds for a Capital One SavorOne?

FinStar — Wed, 07 Jul 2021 02:10:48 GMT

@Anonymous wrote:
I have a bit over two years of credit history tho a thin file. Just a few HPs with some falling off in a few months. Around 750 FICOs.

I applied for this card in late 2019 depsite a pre-qualifcation but was denied for mulitple reasons. One of them being short history.

Going by their own website it says for Excellent credit:

"I’ve never declared bankruptcy or defaulted on a loan; I haven’t been more than 60 days late on any credit card, medical bill, or loan in the last year; I’ve had a loan or credit card for 3 years or more with a credit limit above $5,000."

None of that applies to me so it seems like i'd fall into their "Good Credit" category and not qualify for a SUB on this card.

With that said it still seems like getting an approval from them on this high tier card is fickle. Also there is alot of scattered colorful words about them...

Thoughts?

What does the pre-qualification display this time around? Have you tried that option to gauge the odds? Obviously, it's still subject to a final review, but I would at least try that as a first step.

Re: Approval Odds for a Capital One SavorOne?

Anonymous — Wed, 07 Jul 2021 02:11:43 GMT

@FinStar wrote:
@Anonymous wrote:
I have a bit over two years of credit history tho a thin file. Just a few HPs with some falling off in a few months. Around 750 FICOs.

I applied for this card in late 2019 depsite a pre-qualifcation but was denied for mulitple reasons. One of them being short history.

Going by their own website it says for Excellent credit:

"I’ve never declared bankruptcy or defaulted on a loan; I haven’t been more than 60 days late on any credit card, medical bill, or loan in the last year; I’ve had a loan or credit card for 3 years or more with a credit limit above $5,000."

None of that applies to me so it seems like i'd fall into their "Good Credit" category and not qualify for a SUB on this card.

With that said it still seems like getting an approval from them on this high tier card is fickle. Also there is alot of scattered colorful words about them...

Thoughts?
What does the pre-qualification display this time around? Have you tried that option to gauge the odds? Obviously, it's still subject to a final review, but I would at least try that as a first step.

Thanks for the reminder. I'll check that out when i can.

Re: Approval Odds for a Capital One SavorOne?

Anonymous — Wed, 07 Jul 2021 02:52:18 GMT

I think your odds are good. Keep in mind that Capital One approved me for one with a $10K limit back in 2019 and I had a BK reporting so all three things aren't necessarily mandatory.

How many accounts in the last 24 months and how many inquiries across all three in the last 12 months? These are better indicators IMO.

Re: Approval Odds for a Capital One SavorOne?

Anonymous — Wed, 07 Jul 2021 06:20:52 GMT

@Anonymous wrote:
I think your odds are good. Keep in mind that Capital One approved me for one with a $10K limit back in 2019 and I had a BK reporting so all three things aren't necessarily mandatory.

How many accounts in the last 24 months and how many inquiries across all three in the last 12 months? These are better indicators IMO.

No new accounts and just one HP that is almost a year old now.

Anyhow, I somewhat changed my mind. Still not feeling this will result in an approval. Let see if $250 SUB offer comes around again for it. Until then think I am going to wait until all my HPs are fully gone and see if i can push a 3rd WF and Target auto CLI and then revisit it or if that $250 comes around again.

Also got a Chase Sapphire Preferred mailer today but my chances for approval on that are like zero...

Re: Approval Odds for a Capital One SavorOne?

Anonymous — Wed, 07 Jul 2021 18:19:03 GMT

@Anonymous wrote:
@Anonymous wrote:
I think your odds are good. Keep in mind that Capital One approved me for one with a $10K limit back in 2019 and I had a BK reporting so all three things aren't necessarily mandatory.

How many accounts in the last 24 months and how many inquiries across all three in the last 12 months? These are better indicators IMO.
No new accounts and just one HP that is almost a year old now.

Anyhow, I somewhat changed my mind. Still not feeling this will result in an approval. Let see if $250 SUB offer comes around again for it. Until then think I am going to wait until all my HPs are fully gone and see if i can push a 3rd WF and Target auto CLI and then revisit it or if that $250 comes around again.

Also got a Chase Sapphire Preferred mailer today but my chances for approval on that are like zero...

I don't know why you're so convinced you won't be approved unless it's an income thing. Capital One is not going to bat an eye at a single inquiry and they would actually probably like your profile quite a bit compared to the majority of us serial appers.

Re: Approval Odds for a Capital One SavorOne?

Anonymous — Wed, 07 Jul 2021 20:42:35 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I think your odds are good. Keep in mind that Capital One approved me for one with a $10K limit back in 2019 and I had a BK reporting so all three things aren't necessarily mandatory.

How many accounts in the last 24 months and how many inquiries across all three in the last 12 months? These are better indicators IMO.
No new accounts and just one HP that is almost a year old now.

Anyhow, I somewhat changed my mind. Still not feeling this will result in an approval. Let see if $250 SUB offer comes around again for it. Until then think I am going to wait until all my HPs are fully gone and see if i can push a 3rd WF and Target auto CLI and then revisit it or if that $250 comes around again.

Also got a Chase Sapphire Preferred mailer today but my chances for approval on that are like zero...
I don't know why you're so convinced you won't be approved unless it's an income thing. Capital One is not going to bat an eye at a single inquiry and they would actually probably like your profile quite a bit compared to the majority of us serial appers.

Yeah, I am just being cautious since it's a triple pull. I got a QuickSilver 1.5% offer form them again so that doesn't inspire confidence for the SavorOne that people have got mailers for.

Re: Approval Odds for a Capital One SavorOne?

Anonymous — Wed, 07 Jul 2021 22:21:26 GMT

Did the prequel on their site and saw quicksilver and savor one both with the sub. Also venture was there too with the bonus. All three said recommended for whatever that is worth. The starter cards had no recommendation under them.

Maybe I have a chance but still very iffy about it after a previous denial especially with it being a triple pull.

Re: Approval Odds for a Capital One SavorOne?

FinStar — Wed, 07 Jul 2021 22:51:39 GMT

You also have to consider that your previous denials were based on past, known factors.

Then again, you miss 100% of the shots you don't take. So, while it's understandable that you may still approach some things with caution, at some point, you have to rip the 🩹 off. No risk, no reward.

Don't be afraid.

Apply.

Re: Approval Odds for a Capital One SavorOne?

Anonymous — Fri, 09 Jul 2021 15:29:40 GMT

@FinStar wrote:
You also have to consider that your previous denials were based on past, known factors.

Then again, you miss 100% of the shots you don't take. So, while it's understandable that you may still approach some things with caution, at some point, you have to rip the 🩹 off. No risk, no reward.

Don't be afraid.

Apply.

This is true. You have to try at some point to build a profile or you'll sit spinning your wheels.

I think i am going to wait until all my HPs are gone and then revisit this to give myself the best chances at an approval. AFIK they are inquiry senstive reading but I'm not sure how far that goes and if it's for inquiries over 12 months old or not.

After once being pre-qualified on their page before and getting denied I don't turst it as a good chances at approval. Or rather any pre-qualified offer for that matter. AMEX did the same thing to me and denied me as well despite them having the information to reject me before I applied.

tho @Anonymous having a BK reporting and getting approval seems surprising.

Re: Approval Odds for a Capital One SavorOne?

Oops_I_Did_It_Again — Thu, 15 Jul 2021 20:48:23 GMT

@Anonymous wrote:
@FinStar wrote:

Then again, you miss 100% of the shots you don't take. So, while it's understandable that you may still approach some things with caution, at some point, you have to rip the 🩹 off. No risk, no reward.

Don't be afraid.

Apply.

I agree but I think OP is right to be cautious about Capital One, because they do a tripple HP, and because their lending policies seem to be in a lot of 'flux'. I don't think there is a compelling reason to go after Capital One if you have a 750 Fico score. There are other, easier to catch, tastier fish in the sea.

OP mentioned having 20% utilization. Combined with a short history, that may be a handicap. Depends mostly on your overall debt to income ratio, but if as you say it's convenient to pay off some of your debt and get down to 1%, your chances of being approved for cards would probably improve (Possibly a lot).

I might offer a couple specific suggestions that take into account OP's interest in having a clearer idea of odds of approval

1. If you want to know exactly what you are going to get, try Goldman Sach's Apple card, Credit line and APR are provided as part of pre-approval process. Stingy SLs but pretty easy to get a decent line of credit via CLIs (every six months or so). If offer accepted, single HP TU.

2. Get a no fee savings account at Regions and check for offers, they provide the SL and starting APR. Single HP TU.

3. Get a checking account at BofA (they have an account with a fee of about $7, with no overdraft protection), and wait for them to put a Cash Rewards (they now call Custom Cash Rewards or something) or some other goody in your "Special offer and deals for you" -- those are thought to be very solid offers. You probably won't get an offer for a while (it took about 9 months in my case). It's best to get your money's worth and use the account, for example to pay bills, so they can check out your cash flow. Single HP EX.

4. (?) FNBO has a pre-approval page (search 'FNBO pre-approval' on this forum) that provides SL & APR, but this one still bears watching -- it's a new thing with them and there is some uncertainty about how solid their pre-approvals are. For me the jury is still out. Single HP (EX?)

5. I was 5/24+ pretty quickly and before I knew about Chase's rule, but I think Chase pre-approvals are thought to be good ones. Single or double pull, CB varies.

6. Assuming you have no previously unsatisfactory relationship issues and you can slenderize your utiliztion, I think you'd very easily be able to get American Express cards. Single HP EX, usually SPs for existing customers.

I guess that was more like my 10 bucks rather than my 2 cents! Sorry if overly long.

Re: Approval Odds for a Capital One SavorOne?

recoveringfrombk7 — Wed, 14 Jul 2021 18:47:09 GMT

If you choose to apply I would not do so with 20% utilization. I think that's more worrisome to a lender, particularly with the pandemic and most programs winding down (rent moratorium, mortgage protection, stimulus checks, etc). So if lenders are going to be sensitive to anything right now it's going to be carrying balances. You didn't mention if it's just 20% across all cards (so a single card might be even higher), or if it's just a single card, or I missed it.

Hopefully, unless you have a 0% promo going on you aren't carrying balances beyond the grace period. Most cards have obscenely high interest rates, particularly you mentioned a Target card. Letting a balance post is obviously different than carrying a balance, but if you really want to put your best foot forward personally I'd get myself to AZEO and apply. The gain is minor, but it is the very best you can appear when apping.

Your 1 inquiry is not going to be what causes the denial. You seem quite fixated on that, but compared to 20% uti it's nothing.

Re: Approval Odds for a Capital One SavorOne?

Anonymous — Tue, 03 Aug 2021 11:18:33 GMT

Decided not to apply in the end.

Reason being Capital1 is weird and approving people with 640ish FICO scores with negatives and deniyng others with 800+ with a super clean profile. A triple pull to try is like eh. Also seems they like to bucket cards that will never see growth for whatever reasons they decide.

They also have never sent me a mailer for one with a SUB depsite what the prequal page said so that seems a bit inconsistent to me. I figured they would have already if they wanted me badly enough

If they send me a mailer with a SUB I might come back to this othwise i'm out for now.

Re: Approval Odds for a Capital One SavorOne?

Horseshoez — Tue, 03 Aug 2021 12:21:40 GMT

@Anonymous wrote:
Decided not to apply in the end.

Reason being Capital1 is weird and approving people with 640ish FICO scores with negatives and deniyng others with 800+ with a super clean profile. A triple pull to try is like eh. Also seems they like to bucket cards that will never see growth for whatever reasons they decide.

They also have never sent me a mailer for one with a SUB depsite what the prequal page said so that seems a bit inconsistent to me. I figured they would have already if they wanted me badly enough

If they send me a mailer with a SUB I might come back to this othwise i'm out for now.

Last week I got an alert on my CapOne account page as well as an E-Mail saying I was pre-approved for a SavorOne, with a SUB no less. I'm actively gardening until late spring 2022, so I took a pass.