topic Re: Is Savor one subprime? in Credit Cards

Is Savor one subprime?

Anonymous — Mon, 23 Dec 2019 15:35:58 GMT

Hi all,

While waiting patiently in the garden for the past 6 months, it's been mostly quiet, but over the past several weeks I've been targeted by capital one a dozen times for a savor one preapproval (both mailers and within my online account screen).

First, I'm not falling for it as Capone served its' purpose during my rebuild, but just curious why I would be targeted now and with this card?

Any cap one card with 'one' behind it is sub-prime if I remember reading correctly on past posts in this forum; has this changed?

Thanks and Happy Holidays.

Re: Is Savor one subprime?

Anonymous — Mon, 23 Dec 2019 15:48:32 GMT

It can have a low spending limit and high interest, but it's a World Elite Mastercard

Re: Is Savor one subprime?

Anonymous — Mon, 23 Dec 2019 15:58:57 GMT

If you mean earning rate is lower, yes.

If you mean they usually target people with bad credit, no.

S1 is a perfectly good card, 3% cash back on dining, entertainment, without AF, is an excellent offer for many.

Re: Is Savor one subprime?

Anonymous — Mon, 23 Dec 2019 16:05:42 GMT

Indeed it's important to remember that you need to spend $9500 a year in restaurants to cover the annual fee on a Savor. Anyone spending less than that on the 4% categories should stick to Savor One

Re: Is Savor one subprime?

Anonymous — Mon, 23 Dec 2019 16:17:45 GMT

Savor one is 3% Cashback vs Savor 4% Cashback. The starting line can be as low as $1000 I believe but definitely not subprime.

Re: Is Savor one subprime?

Anonymous — Mon, 23 Dec 2019 16:33:17 GMT

@Anonymous wrote:
Savor one is 3% Cashback vs Savor 4% Cashback. The starting line can be as low as $1000 I believe but definitely not subprime.

I can confirm personally it can be as low as 500.

Re: Is Savor one subprime?

M_Smart007 — Mon, 23 Dec 2019 16:53:16 GMT

"Is Savor one subprime?"

The 3 Hp's are!

Re: Is Savor one subprime?

Shooting-For-800 — Mon, 23 Dec 2019 17:05:59 GMT

I think it is sub-savor but not sub prime.

Re: Is Savor one subprime?

soxfaininfl — Mon, 23 Dec 2019 18:27:19 GMT

I just got the Savor One this month, and my SCL was 5K. I was preapproved for it also. There was another poster on here that got the same SCL at the same time and his scores were in the high 700 across the board. I will never upgrade to the Savor because I will never spend 9k in dining. I also had previously opened a QS1 back on 9/2019 with a 3k limit, and I used it like a debit card. Maybe that helped me get a higher credit line with the Savor One since I have low scores.

Re: Is Savor one subprime?

CreditCuriosity — Mon, 23 Dec 2019 18:29:06 GMT

Alot of banks write sub-prime lenders these days.. Whether it is Cap1, Chase (even CSP, etc..), Wells, etc... I think the line is getting blurred these days as banks are willing to get more risky with whom they approve for cards from what I have seen. As all these lenders/cards have written in the 630-640ish range which I consider sub-prime or average scores, but not good/very good/excellent score yet prime offering of cards.

Re: Is Savor one subprime?

Anonymous — Mon, 23 Dec 2019 19:58:30 GMT

Thanks for the replies, everyone.

I believe the answer is unanimous. For me though, I have no use for this particular card, nor am I willing to give up 3 hp's and have scores take a hit.

I will remain in the garden until sometime next year when I come out to buy another home.

For now, I have more than enough cards and will continue gardening, lurking, and learning. ;-)

Re: Is Savor one subprime?

Shooting-For-800 — Mon, 23 Dec 2019 23:59:32 GMT

FTR - Cap One has been very very good to me.

I pay $59 for Venture (grandfathered) and $0 for Savor (upgraded and grandfathered).

I went from a single $3k plat card to a $30k Siggy, $28k WEMC, and a 25k Siggy.

I get 2% and 3% fee 0% offers and earn 1.5-4.0% back in rewards.

I also got about $800 in subs and my Venture card is at 14% apr.

Cap One gets a much worse rap than they deserve IMO especially considering how many second and third chances they give people (including me.)

Re: Is Savor one subprime?

CreditInspired — Tue, 24 Dec 2019 00:06:57 GMT

@Shooting-For-800 wrote:
FTR - Cap One has been very very good to me.
I pay $59 for Venture (grandfathered) and $0 for Savor (upgraded and grandfathered).
I went from a single $3k plat card to a $30k Siggy, $28k WEMC, and a 25k Siggy.
I get 2% and 3% fee 0% offers and earn 1.5-4.0% back in rewards.
I also got about $800 in subs and my Venture card is at 14% apr.

Cap One gets a much worse rap than they deserve IMO especially considering how many second and third chances they give people (including me.)

I love to read success stories from those who rose from the ashes of a credit debacle to praise the CC that may have been the only one to give them a second chance.

Thanks for sharing.

Re: Is Savor one subprime?

mrfufoppss — Tue, 24 Dec 2019 00:45:25 GMT

sounds like you got the Savor one for(Average credit) yes its the sub prime version but from other data points i have read people getting a 10,000 sl..if you got no Sub offer and apr 26.99 promo with the card then yes its the new sub prime version with credit steps
and it will be the World Elite Mastercard

Re: Is Savor one subprime?

Anonymous — Tue, 24 Dec 2019 03:08:36 GMT

@Shooting-For-800 wrote:
FTR - Cap One has been very very good to me.
I pay $59 for Venture (grandfathered) and $0 for Savor (upgraded and grandfathered).
I went from a single $3k plat card to a $30k Siggy, $28k WEMC, and a 25k Siggy.
I get 2% and 3% fee 0% offers and earn 1.5-4.0% back in rewards.
I also got about $800 in subs and my Venture card is at 14% apr.

Cap One gets a much worse rap than they deserve IMO especially considering how many second and third chances they give people (including me.)

I second that. Cap one has been very good to me as well. Savor card w/no AF, 8.65% APR, $27,500 CL, called in a dispute once for a $50 charge, immediately made it a permanent credit (didn't even bother to contact the merchant, and skipped the conditional credit step).

And once, I paid with my cap one card for a move. When I got the final bill, it was for $287 too much. I called and left a message with the movers and followed up with an email. After a few days, left another voicemail. Nothing. Called customer service. They put a conditional credit on my account, a week later called me back and said they left voicemails and emails with the mover, and no response. Made it a permanent credit.

One month later I got a check in the mail for $287 from the movers. Called cap 1 and told them I got reimbursed, go ahead and put the $287 charge back on my card. Thanked me for calling about it and said they'd take care of it. Waited 2 weeks, no charge on my card. Called them back. They said I see that it was not put on my account. They'll make sure it goes on my card. Two weeks later, still not there. I quit there. I let them know I owe them $287 twice. It's up to them to take it from there.

Not sure if they technically can't put it back on my account if it was a settled insurance payment, or they had no intention of taking the money back. Point is, they resolved it extremely quickly, at the expense of putting in a solid and patient attempt of getting the money back. Great customer service.

They treat customers well, at least ones they value. Good to have in your wallet, even if they seem slightly "subprimey".