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Are Cap 1 pre-approvals legit?

ACN323
Regular Contributor

Are Cap 1 pre-approvals legit?

Hi all,

 

I checked today and was pre-approved for all of the Capital One cards. I'm interested in the SavorOne specifically and was wanting to replace my Apple Card with it. I did burn Cap1 back in 2017 for $3.7k total. I did PIF the charge off with them earlier this year. $670 of that amount was a seperate acct that went to PRA which I PIF as well. My experian fico 8 is currently 697, and I'm at 5% utilization. 

 

Are their pre-approvals legit? I just don't want to apply and be denied because of the past charge off etc. I was also playing around with the Auto Navigator the past few months and was pre-qualified for 60k as well. I don't plan on buying a car, but was interested in the rates I would potentially get etc. 

 

Any info would be greatly appreciated. 

Started at 490 in Dec.18’'
EX8 697 EQ 691 TU 685

Discover IT $1.7k
Amex Delta Gold $1k
Apple Card $1.5k
Amex Green NPSL
Message 1 of 15
14 REPLIES 14
FinStar
Moderator

Re: Are Cap 1 pre-approvals legit?


@ACN323 wrote:

Hi all,

 

I checked today and was pre-approved for all of the Capital One cards. I'm interested in the SavorOne specifically and was wanting to replace my Apple Card with it. I did burn Cap1 back in 2017 for $3.7k total. I did PIF the charge off with them earlier this year. $670 of that amount was a seperate acct that went to PRA which I PIF as well. My experian fico 8 is currently 697, and I'm at 5% utilization. 

 

Are their pre-approvals legit? I just don't want to apply and be denied because of the past charge off etc. I was also playing around with the Auto Navigator the past few months and was pre-qualified for 60k as well. I don't plan on buying a car, but was interested in the rates I would potentially get etc. 

 

Any info would be greatly appreciated. 


They're fairly reliable, just keep in mind there will be a triple whipple™️ effect when they access all 3 CRAs. Just temper expectations as far as the SL given your current cards/limits and scores.

Message 2 of 15
ACN323
Regular Contributor

Re: Are Cap 1 pre-approvals legit?

@FinStar yes, part of my hesitation is the potential for a crappy starting limit as well. Don't need another 1k SL. 

Started at 490 in Dec.18’'
EX8 697 EQ 691 TU 685

Discover IT $1.7k
Amex Delta Gold $1k
Apple Card $1.5k
Amex Green NPSL
Message 3 of 15
FinStar
Moderator

Re: Are Cap 1 pre-approvals legit?


@ACN323 wrote:

@FinStar yes, part of my hesitation is the potential for a crappy starting limit as well. Don't need another 1k SL. 


Right. So, potentially 1K-3K would be my guess, but more on the conservative side. And, while they can be a decent lender for the right individual or profile, it's definitely a challenge to grow their products over time.

Message 4 of 15
ACN323
Regular Contributor

Re: Are Cap 1 pre-approvals legit?

@FinStar so I've heard lol. 
My DH has had a platinum that has never gone past $700 limit. He has mid 700 fico's and no lates in last 10 years. 

Started at 490 in Dec.18’'
EX8 697 EQ 691 TU 685

Discover IT $1.7k
Amex Delta Gold $1k
Apple Card $1.5k
Amex Green NPSL
Message 5 of 15
CreditPacMan
Established Contributor

Re: Are Cap 1 pre-approvals legit?

I checked their pre-qualification site a month ago, and it said I was pre-qualified for the SavorOne. But I wanted the Savor for the 4%, and I ended up applying for it anyway and they approved it!

So I'd say the site is a good indication of your chances. IMO, SL depends on your other cards.. do you have other cards with high CL?

Current Cards:
Message 6 of 15
ACN323
Regular Contributor

Re: Are Cap 1 pre-approvals legit?

@CreditPacManso great to hear! Congrats!


No, my highest limit is my Disco with 1.7k but that's my card I started my rebuild with. They literally just gave me a CLI for $700 a year after the card graduated. I mean my Amex Gold has allowed me to throw a few thousand on it in a billing cycle, but that's not a revolver. I'm kind of stuck with the 1k-1.5k limits, which I want to avoid in the future. 

Do you mind me asking, what SL you were approved for? Do you have any baddies? 

Started at 490 in Dec.18’'
EX8 697 EQ 691 TU 685

Discover IT $1.7k
Amex Delta Gold $1k
Apple Card $1.5k
Amex Green NPSL
Message 7 of 15
SUPERSQUID
Frequent Contributor

Re: Are Cap 1 pre-approvals legit?


@ACN323 wrote:

Hi all,

 

I checked today and was pre-approved for all of the Capital One cards. I'm interested in the SavorOne specifically and was wanting to replace my Apple Card with it. I did burn Cap1 back in 2017 for $3.7k total. I did PIF the charge off with them earlier this year. $670 of that amount was a seperate acct that went to PRA which I PIF as well. My experian fico 8 is currently 697, and I'm at 5% utilization. 

 

Are their pre-approvals legit? I just don't want to apply and be denied because of the past charge off etc. I was also playing around with the Auto Navigator the past few months and was pre-qualified for 60k as well. I don't plan on buying a car, but was interested in the rates I would potentially get etc. 

 

Any info would be greatly appreciated. 


I burned cap 1 for 4k-5k in bk7 12/2019 and they preapproved me in may for 300 platinum unsecured and gave me the card

target 500 kohls 700 discover 3k mercury 3350 ollo 600 mission lane 1050 big lots 750 ikea 550 valero 300 firestone 2800 legacy 1500 first savings bank cc 1500 cap1 QS 1800 fingerhut 2600
Message 8 of 15
CreditPacMan
Established Contributor

Re: Are Cap 1 pre-approvals legit?


@ACN323 wrote:

@CreditPacManso great to hear! Congrats!


No, my highest limit is my Disco with 1.7k but that's my card I started my rebuild with. They literally just gave me a CLI for $700 a year after the card graduated. I mean my Amex Gold has allowed me to throw a few thousand on it in a billing cycle, but that's not a revolver. I'm kind of stuck with the 1k-1.5k limits, which I want to avoid in the future. 

Do you mind me asking, what SL you were approved for? Do you have any baddies? 


For the Savor?

I was approved for $5k. This seems to be the limit Cap1 likes to hand out for high end cards. I will put some spend on it and request a CLI in 90 days.

I don't have any baddies, just been paying off a huge credit card debt for the past a year and half. 

Current Cards:
Message 9 of 15
Anonymalous
New Contributor

Re: Are Cap 1 pre-approvals legit?


@ACN323 wrote:

No, my highest limit is my Disco with 1.7k but that's my card I started my rebuild with. They literally just gave me a CLI for $700 a year after the card graduated. I mean my Amex Gold has allowed me to throw a few thousand on it in a billing cycle, but that's not a revolver. I'm kind of stuck with the 1k-1.5k limits, which I want to avoid in the future. 

You seem to have two conflicting desires. You want the SavorOne, but you also want a higher credit limit. Have you considered the alternative? If you get a card from an institution known for higher limits, you might not get exactly the card you want, but you'll have a better chance of getting a higher limit. You already have a relationship with AmEx with reasonable spend, so maybe one of their credit cards like Blue Cash Everyday. Or a credit union like NASA, PenFed, Navy, or something local.

Message 10 of 15
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