topic Re: New Savor or SavorOne to replace bucketed SavorOne? in Credit Card Applications

New Savor or SavorOne to replace bucketed SavorOne?

Zoostation1 — Fri, 12 Apr 2024 00:42:04 GMT

I currently have 3 Capital One cards, a VX (11.5k CL opened 7/2023), QS ($2300 CL opened 2/2022), and SavorOne ($4500 CL opened 9/2022). The SavorOne started at $3000 CL and it's curently at $4500. $1200 came from a transfer of limit from my QS and only $300 was from a CLI so I think this is likely bucketed (maybe not the lowest of low but still bucketed). FICO 8 scores were 659-665 at the time of approval and I was only approved for the "good credit version" and while I don't carry a balance it has pretty rough 30.74% APR.

Yesterday, I was screwing around with the preapproval tool (not planning to apply for anything) and to my surprise everything comes up as preapproved. The thought crossed my mind today to possibly apply for a new SavorOne or Savor (my dining and entertainment spend can justify the $95 AF ) in hopes that I'd get the sub, a better starting CL (maybe not bucketed or in a better bucket), and a slightly better APR (the highest APR offered is better than my current). I would then close the older "good credit" SavorOne (maybe transfer some of that limit too beforehand if they would let me) or sock drawer it. Meeting the sub requirement on either card wouldn't be a problem. Am I crazy for considering this, and would Capital One even approve me? I know the preapprovals from them are solid, but nothing is guaranteed, probably even moreso with 3 of their cards already. My other cards not previously mentioned are Amex BCP ($5k CL opened 1/2023) and Discover It Chrome($3.8k CL opened 11/2021).

Re: New Savor or SavorOne to replace bucketed SavorOne?

Shooting-For-800 — Fri, 12 Apr 2024 04:02:04 GMT

Savor is a great card IMO.

I am lucky to have been grandfathered in at $0 AF.

It is a risk though opening new card.

Cap One cares more about use of limit than they used to.

I had $80k between QS, Savor, and Venture at one time.
Now it's $50k.

GL!

Re: New Savor or SavorOne to replace bucketed SavorOne?

Zoostation1 — Fri, 12 Apr 2024 05:02:14 GMT

@Shooting-For-800I appreciate the feedback. My VX and S1 are my #1 and 2 cards spend cards so I think I can do decent on that front without any significant spend changes, but it's still a matter of whether they would approve me. I use my BCP pretty regularly too since it's my grocery, streaming, and gas card, but it's still not going to be a top spend for me. QS and Chrome get relatively low, but consistent usage. If I need to I can trim those down a bit further to just enough to keep active levels if it would help.

Re: New Savor or SavorOne to replace bucketed SavorOne?

NoHardLimits — Fri, 12 Apr 2024 16:42:22 GMT

Capital One has been known to limit the number of personal "core" cards it will approve for a person (business and co-brands cards are treated separately). Some on this forum believe that number is generally 2, but I see that you already have 3. My main Capital One concern for you isn't your spend level, but the fact that you already have 3 "core" cards.

Re: New Savor or SavorOne to replace bucketed SavorOne?

Slabenstein — Fri, 12 Apr 2024 16:45:57 GMT

@NoHardLimits wrote:
Capital One has been known to limit the number of personal "core" cards it will approve for a person (business and co-brands cards are treated separately). Some on this forum believe that number is generally 2, but I see that you already have 3. My main Capital One concern for you isn't your spend level, but the fact that you already have 3 "core" cards.

You can have 2 of their starter/rebuilder cards and 5 total personal cards (unless that's changed recently).

Re: New Savor or SavorOne to replace bucketed SavorOne?

CYBERSAM — Fri, 12 Apr 2024 16:48:43 GMT

@Zoostation1 wrote: "Am I crazy for considering this"

YES! lol

You have 5 cards, 3 with Cap1 and 1 soon to be Cap1(Disco) Stop putting all your eggs in one basket! Go find something else 🙄😂

Re: New Savor or SavorOne to replace bucketed SavorOne?

GZG — Fri, 12 Apr 2024 16:58:51 GMT

you'd still be in the BK bucket, so I wouldn't expect a much higher limit

if they are pre-approving for a SUB, that might be a risk worth taking? but I wouldn't expect a higher limit.

if you want a higher limit to get a higher limit on your report get a navy fed card tbh

Re: New Savor or SavorOne to replace bucketed SavorOne?

Barkius — Fri, 12 Apr 2024 17:35:12 GMT

Got to say I've never heard of a cap one card starting at 3000 being bucketed, usually hear about the ones starting under a thousand.

Re: New Savor or SavorOne to replace bucketed SavorOne?

Zoostation1 — Fri, 12 Apr 2024 23:03:10 GMT

@GZG wrote:
you'd still be in the BK bucket, so I wouldn't expect a much higher limit

if they are pre-approving for a SUB, that might be a risk worth taking? but I wouldn't expect a higher limit.

if you want a higher limit to get a higher limit on your report get a navy fed card tbh

The preapproval had the sub, if it didn't I wouldn't even consider it. When I opened the S1 I was only getting the no sub preapprovals and the $3k was my highest limit. I wouldn't be expecting any sort of real high SL but I figured maybe it would be a bit better even with the BK since the scores are somewhat higher and they were willing to give me a VX last summer. Regarding NFCU - I will probably open one with them at some point down the road when I have more history with them, but I also don't have much of my spend to give them either.

Re: New Savor or SavorOne to replace bucketed SavorOne?

Zoostation1 — Fri, 12 Apr 2024 23:17:26 GMT

@CYBERSAMThis would just be an easy sub for me to reach on a keeper card that wouldn't require any significant changes to my spend. If I were to do this and get approved, I would likely end up closing the original no sub S1 in the not too distant future. I'm also well aware most of my cards are with C1, and won't be putting all my eggs in one basket for the long term. I joined NFCU a couple months ago and will likely apply for a card with them when that relationship is more established just to diversify more.

Re: New Savor or SavorOne to replace bucketed SavorOne?

Shooting-For-800 — Sat, 13 Apr 2024 02:54:59 GMT

Congrats!

Re: New Savor or SavorOne to replace bucketed SavorOne?

Zoostation1 — Sat, 13 Apr 2024 05:22:37 GMT

Got approved with a nice SL so this one can be closed out as I have a thread in approvals now.

Re: New Savor or SavorOne to replace bucketed SavorOne?

NoHardLimits — Sat, 13 Apr 2024 17:49:11 GMT

@Zoostation1 wrote:
Got approved with a nice SL so this one can be closed out as I have a thread in approvals now.

Well, I guess that confirms that you can have more than 2 core cards which are not considered to be "starter" cards.

Re: New Savor or SavorOne to replace bucketed SavorOne?

bytechma — Sun, 14 Apr 2024 16:17:03 GMT

Congrats on the approval!

Re: New Savor or SavorOne to replace bucketed SavorOne?

keekers — Sun, 14 Apr 2024 16:18:20 GMT

Congrats.

Re: New Savor or SavorOne to replace bucketed SavorOne?

elboullee — Mon, 15 Apr 2024 17:19:35 GMT

Same card save 3x vs. 4x multipliers, the AF, and the amount of the SUBs - if you qualify.

The break-even on the multipliers vs. the AF is ~$9.5K/year.

If you spend more than $9.5K/year on resturants, groceries, streaming, and movies, then get the Savor. Spend less than that, get the SavorOne.

Re: New Savor or SavorOne to replace bucketed SavorOne?

NoHardLimits — Mon, 15 Apr 2024 21:13:17 GMT

@elboullee wrote:
Same card save 3x vs. 4x multipliers, the AF, and the amount of the SUBs - if you qualify.

The break-even on the multipliers vs. the AF is ~$9.5K/year.

If you spend more than $9.5K/year on resturants, groceries, streaming, and movies, then get the Savor. Spend less than that, get the SavorOne.

Grocery spend is 3% for both versions, so the breakeven will come with more than $9.5k on dining, streaming, and entertainment.

Re: New Savor or SavorOne to replace bucketed SavorOne?

Zoostation1 — Tue, 16 Apr 2024 03:06:40 GMT

@NoHardLimits @elboullee I probably shouldn't, but I definitely spend enough to pass the break even point between Savor and SavorOne from dining and entertainment, even with 90% of my streaming on BCP.

Re: New Savor or SavorOne to replace bucketed SavorOne?

NoHardLimits — Tue, 16 Apr 2024 03:16:58 GMT

@Zoostation1 wrote:
@NoHardLimits @elboullee I probably shouldn't, but I definitely spend enough to pass the break even point between Savor and SavorOne from dining and entertainment, even with 90% of my streaming on BCP.

I applied for Savor when my spend was over $10k in dining and entertainment. Pandemic hit and that spend cratered, so I product changed to QS (no option to downgrade to S1). Spend started going back up, so I product changed to S1 as soon as I was allowed to. Spent over $10k again last year, but I'll just stick with S1 for now. My streaming goes on Cash+.