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Approved For a Card I Don't Want.

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Contributor

Approved For a Card I Don't Want.

In my quest for a balance transfer card this evening, I applied for a Capital One Savor card. I was rewarded with a 1k SL which is useless to me. I then applied for an Elan Platinum Visa and was approved for a $9,500 limit which more than covers the amount I was looking to transfer. The Savor card is no good to me at all. Is there any way that I can cancel the card before it hits my credit report or am I stuck with it?

 

Thanks! 

Message 1 of 14
13 REPLIES 13
Community Leader
Senior Contributor

Re: Approved For a Card I Don't Want.

Youre stuck with it. And since you paid 3 HP for it, I’d personally keep it for at least a year.

Sorry about your approval 🤷🏽‍♀️

AMEX Platinum, Gold, Reserve & SPG | Chase Marriott VS l SGV l PenFed PR VS | NFCU FS VS | Discover IT | Citibank DC WEMC l Capital One Venture VS | Nordstrom VS l Banana Republic LUXE V I Lowes I Macys I Wayfair I Target l
Got some pruning to do....but rebuild is complete. No more new cards!
Message 2 of 14
Valued Contributor

Re: Approved For a Card I Don't Want.

You applied and got the chance to earn $300 or $500 for spending on it.  Take the free money, hold onto it until they want the AF and then PC it to something w/o an AF.

 

Once you're approved there's no real way to rescind it w/o it showing up on your CR.

500K+ TCL / 800+ FCOs
Message 3 of 14
Community Leader
Super Contributor

Re: Approved For a Card I Don't Want.

Curious as to why you got a $1k SL on the Savor card. I just double checked and minimum starting line according to T&C is $2k

Message 4 of 14
Super Contributor

Re: Approved For a Card I Don't Want.


@simplynoir wrote:

Curious as to why you got a $1k SL on the Savor card. I just double checked and minimum starting line according to T&C is $2k


It’s likely the Savor One, not the Savor, since there is talk of a BT and the Savor has no intro APR. 

 

Also I thought the Savor was $5K minimum like the Venture. If they have changed that to $2K, that sucks. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 5 of 14
Community Leader
Valued Contributor

Re: Approved For a Card I Don't Want.

It’s too late for your credit unfortunately. You already took the HPs and the new account will show regardless. However, don’t feel bad about closing it right away. I have done that before. I closed a card before I even got the physical card in the mail. I don’t hold onto worthless cards lol 

Discover It: 19.7k
Amex BCE: 18k
Citi DC: 5.7k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 6 of 14
Community Leader
Super Contributor

Re: Approved For a Card I Don't Want.


@Saeren wrote:

@simplynoir wrote:

Curious as to why you got a $1k SL on the Savor card. I just double checked and minimum starting line according to T&C is $2k


It’s likely the Savor One, not the Savor, since there is talk of a BT and the Savor has no intro APR. 

 

Also I thought the Savor was $5K minimum like the Venture. If they have changed that to $2K, that sucks. 


Double checked all three because I was curious and minimum starting limits: SavorOne - $1k, Savor - $2k, Venture - $5k

 

Good call on SavorOne app and yeah dunno if the Savor was ever $5k to begin with but it's not now

Message 7 of 14
Super Contributor

Re: Approved For a Card I Don't Want.


@EveWasFramed wrote:

In my quest for a balance transfer card this evening, I applied for a Capital One Savor card. I was rewarded with a 1k SL which is useless to me. I then applied for an Elan Platinum Visa and was approved for a $9,500 limit which more than covers the amount I was looking to transfer. The Savor card is no good to me at all. Is there any way that I can cancel the card before it hits my credit report or am I stuck with it?

 

Thanks! 


3% cash back on dining and entertainment, with no annual fee, sounds pretty good to me. I would keep it, and use it for the cash back.


Total revolving limits 730000 (603500 reporting) FICO 8 scores: EQ 722 TU 764 EX 734
Message 8 of 14
Super Contributor

Re: Approved For a Card I Don't Want.


@simplynoir wrote:

@Saeren wrote:

@simplynoir wrote:

Curious as to why you got a $1k SL on the Savor card. I just double checked and minimum starting line according to T&C is $2k


It’s likely the Savor One, not the Savor, since there is talk of a BT and the Savor has no intro APR. 

 

Also I thought the Savor was $5K minimum like the Venture. If they have changed that to $2K, that sucks. 


Double checked all three because I was curious and minimum starting limits: SavorOne - $1k, Savor - $2k, Venture - $5k

 

Good call on SavorOne app and yeah dunno if the Savor was ever $5k to begin with but it's not now


Thanks for posting the $2K minimum on the Savor, I have zero interest in getting one now. With $3K to hit the SUB, it’s awful that you can get a $2K limit. Saved me some future HPs. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 9 of 14
Super Contributor

Re: Approved For a Card I Don't Want.


@Saeren wrote:

@simplynoir wrote:

@Saeren wrote:

@simplynoir wrote:

Curious as to why you got a $1k SL on the Savor card. I just double checked and minimum starting line according to T&C is $2k


It’s likely the Savor One, not the Savor, since there is talk of a BT and the Savor has no intro APR. 

 

Also I thought the Savor was $5K minimum like the Venture. If they have changed that to $2K, that sucks. 


Double checked all three because I was curious and minimum starting limits: SavorOne - $1k, Savor - $2k, Venture - $5k

 

Good call on SavorOne app and yeah dunno if the Savor was ever $5k to begin with but it's not now


Thanks for posting the $2K minimum on the Savor, I have zero interest in getting one now. With $3K to hit the SUB, it’s awful that you can get a $2K limit. Saved me some future HPs. 


That plus Capital One is really picky about approving the Savor to begin with.

 

As far as OP, the damage is done. The HPs are there and the account will report even if you close it immediately. That said, it really doesn't matter either way. It will just report as a positive tradeline with no payment history, which isn't going to help or hurt anything. If you truly find the card useless, it's ok to move on.

Message 10 of 14
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