Capital One Savor Denied

[Remedios]

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@Anonymous wrote:

"matched" to this card by experian.com where my FICO 8 was reported as 813.

Credit Utilization: 4%

Annual Income: $390,000.  Rent: $1800/month.

DECLINED for the card & now with hard pulls on my credit report.

Called capital one directly.  They couldn't give me a reason.  Spoke with a supervisor who gave me a polite but firm: "I can't help you.".

Already have two cards with them and am tempted to cut them up & return them.

But I'd be cutting off my nose to spite my face.

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Experian, or any other CMS card recommendations are meaningless. They get paid to peddle cards. 

Cap One hardly cares about scores. Recently, most denials revolved around new accounts/inquiries. 

In any case, you will get AA letter from them that may shed some light on why you were denied. You can use that as a guideline on when/if to apply again if you still wish to do so. 

[Anonymous]

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@Remedios wrote:
Experian, or any other CMS card recommendations are meaningless.

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Yup, exactly. Unless you see verbage that says you're prequalified or preapproved I would say the "recommendations" are nothing other than marketing.

[Anonymous]

I've seen some evidence in other forums that you aren't allowed 3 accounts with capital one.  In answer to another poster's question, I have a Venture card with a $30K credit line and a platinum with a $10K line with them already.

If that's the case, I really wish that make that policy explicit, so I wouldn't try applying and wind up with hard pulls against all 3 credit bureaus.  It's also much harder to take a subsequent decline personally if that's the case, and makes it much easier to explain with 800+ FICO scores at all 3 bureaus.

In answer to why I'd want such a card, I do eat out a lot, so the 3% cash back on that will pay.  I'd even give up the platinum I seldom use in favor of this card, though they apparently won't even do that...

I subsequent to my rejection got an email from them inviting me to persuade others to sign up for venture and offering me a $500 inducement to do so.  After this episode, I wouldn't inflict that one on my worst enemy.

[GApeachy]

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@Anonymous wrote:

I've seen some evidence in other forums that you aren't allowed 3 accounts with capital one. 

OP, when I was going to apply for the Spark 2 weeks after getting the Savor I asked two different csr's (one in personal who then transferred me back to business) that when Cap1 takes over Walmart MC I will be maxed out with cards and both told me I could have up to 5 cards.  Idk, if that's really true but the business csr wanted me to go ahead and app for the Spark (which only would have made 3 accts. at this moment).  I had asked you about your credit limits wondering if you were up around 100k or close, trying to figure out if that could be a cause.  Idk, you seem to be way, way, more qualified than myself for the Savor.  Again, so sorry that happened to you.

[kdm31091]

Capital One doesn't recon, so there's no chance in fighting it. A denial is a denial.

Honestly I would just focus on other products/lenders instead of wasting HPs with the Savor card as it seems far more people get denied vs approved for it.

[Anonymous]

seems like you'd be better off with amex gold, CSR, citi prestige, or any number of other cards.

[Anonymous]

Citi closed a different account on me with an $8K credit line because I wasn't using it.

So I got myself a Chase Freedom Unlimited and they gave me an initial $22,500 credit line with it (trying to keep my ratios down by keeping my CLs up).  That one gives me 3% on all purchases first year.  So, I've replicated the savor benefits across anything I buy with that card.  But it's only for first year.  After that it drops to 1.5%, so citi double cash is better.  I used my citi double cash for most everything, but I sort of view that whole thing as payback for the closed account & CL.  I'll reevaluate my relationship with them in a year.

As things stand, I rarely use my credit lines with capital one anyway.  What they offer in terms of rewards on their products is simply not competitive.  My application for the savor was a chance for them to get at least some of my business...

[Anonymous]

you should just PC it to the CSR after y1 and you would have a much better rewards card than the savor.

[Anonymous]

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@GApeachy wrote:

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@Anonymous wrote:

I've seen some evidence in other forums that you aren't allowed 3 accounts with capital one. 

OP, when I was going to apply for the Spark 2 weeks after getting the Savor I asked two different csr's (one in personal who then transferred me back to business) that when Cap1 takes over Walmart MC I will be maxed out with cards and both told me I could have up to 5 cards.  Idk, if that's really truebut the business csr wanted me to go ahead and app for the Spark (which only would have made 3 accts. at this moment).  I had asked you about your credit limits wondering if you were up around 100k or close, trying to figure out if that could be a cause.  Idk, you seem to be way, way, more qualified than myself for the Savor.  Again, so sorry that happened to you.

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Sorry about the denial OP.  Cap 1 has been an odd duck lately. 

As to the red text above, you are allowed 5 cards with Cap 1. However, of those 5 cards, only 2 can be the "starter" cards, like the platinum or the QS1. I am not sure how co-branded cards play into the mix, if at all. 

[KLEXH25]

Capital One likes heavy spenders, so if you already have two credit lines with them that you don’t use, I’m guessing that may be the reason they rejected the Savor app.