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Capital One Savor Denied

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
New Member

Capital One Savor Denied

I too got a rejection recently 😕 for Savor.
Savor seems like a good card
Didn't know of this rule, otherwise would not have had applied.
Seems like there is no use of calling or emailing EO 😕

Message 1 of 12
11 REPLIES 11
Moderator

Re: Capital One Savor Denied


@pannna wrote:

I too got a rejection recently 😕 for Savor.
Savor seems like a good card
Didn't know of this rule, otherwise would not have had applied.
Seems like there is no use of calling or emailing EO 😕


Hi @pannna, I've moved your post to a new thread since the other one was older and some of the info might be outdated.

 

Capital One can be a tough nut to crack these days... definitely not like they were just a few years ago.

 

While some people have speculated that they may have a 5/24 rule (similar to Chase) we don't know for sure.  I did see my own prequal offers return once I was under 5/24 but I don't know if that was the cause or just coincidence.  There aren't enough data points yet.

 

As for the EO, you're right; unless there was a glitch during the application process they aren't known to override automated approval/denial decisions. Smiley Sad

Message 2 of 12
Regular Contributor

Re: Capital One Savor Denied

Not sure if there is a 5/24 rule because I am at 8/24 or 9/24 and just got a savor for 15k SL

~~March FICO Scores ~~(3/1/2019)
TU: 700, EQ: 666, EX: 688
~~Credit Lines in Wallet~~
Discover 0/14,500
NFCU CR 0/25,000
Cap One Savor 0/15,000
AMEX BCE 0/1,000
Costco Citi 0/5,500
Penfed 0/10,000

Message 3 of 12
Established Member

Re: Capital One Savor Denied

I don't think they have a 5/24 rule, I had my sixth credit card with Capital One and got approved (Though it was a Journey) and then PC to the Quicksilver, I also have a cousin that she got her eight card with them in less than 24 months
Message 4 of 12
Super Contributor

Re: Capital One Savor Denied


@Dracomael wrote:
I don't think they have a 5/24 rule, I had my sixth credit card with Capital One and got approved (Though it was a Journey) and then PC to the Quicksilver, I also have a cousin that she got her eight card with them in less than 24 months

They do seem to have a 5/24 type of rule in place for cards like the Savor. It is unknown the exact number of x/24 but you will see very, very few people get approved (for Savor, at least) with being much above 5/24 if at all. They have definitely locked out a lot of people, whatever their exact rule is.

Message 5 of 12
Moderator

Re: Capital One Savor Denied

I'm not sure there's a 'rule' per se. It's driven by an algorithm logic that will disqualify some but not others depending on whatever internal criterion is in place and fluctuates pretty frequently.

I was approved for Savor last year with a slew of new accounts and inquiries and since they tend to pull all 3 CRAs I'm certain they would've denied the application if such a 'rule' was in place.

For a variety of declined applications, they will cite the excessive number of accounts (or inquiries) in a 12 or 24 month period, but it's not a declined outcome for everyone. They have adaptive AI and algorithms that clearly know what drives their revenue stream and mitigate potential losses versus previous statistical UW models.
Message 6 of 12
Valued Contributor

Re: Capital One Savor Denied


@UncleB wrote:


... While some people have speculated that they may have a 5/24 rule (similar to Chase) we don't know for sure.  I did see my own prequal offers return once I was under 5/24 but I don't know if that was the cause or just coincidence.  There aren't enough data points yet.

Adding a DP: approved for Savor yesterday with 10/24 bank cards and 7/24 retail cards, and about 35 Inq across the 3 CRA.

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (3/01/2019): FICO 08 EXP: 714; TU: 744; EQ: 710
2019 Goal Score: 800 across the board


Take the myFICO Fitness Challenge
Message 7 of 12
Super Contributor

Re: Capital One Savor Denied


@FinStar wrote:
I'm not sure there's a 'rule' per se. It's driven by an algorithm logic that will disqualify some but not others depending on whatever internal criterion is in place and fluctuates pretty frequently.

I was approved for Savor last year with a slew of new accounts and inquiries and since they tend to pull all 3 CRAs I'm certain they would've denied the application if such a 'rule' was in place.

For a variety of declined applications, they will cite the excessive number of accounts (or inquiries) in a 12 or 24 month period, but it's not a declined outcome for everyone. They have adaptive AI and algorithms that clearly know what drives their revenue stream and mitigate potential losses versus previous statistical UW models.

It's certainly not set in stone like Chase 5/24, but more often than not I've seen denials for the Savor card from anyone who has multiple new accounts. The reddit thread when Savor was first released (well, refreshed) was a slew of denied applications. Same for the DoC thread. They may not have a hard and fast x/24 rule, but they definitely have strict underwriting in place.

Message 8 of 12
Super Contributor

Re: Capital One Savor Denied

Am I missing something here, or was there something omitted from the original post?  Everyone is talking about a x/24 or similar rule with CO, yet I see no mention in the original post of anything along these lines from the OP?

Message 9 of 12
Valued Contributor

Re: Capital One Savor Denied


@BrutalBodyShots wrote:

Am I missing something here, or was there something omitted from the original post?  Everyone is talking about a x/24 or similar rule with CO, yet I see no mention in the original post of anything along these lines from the OP?


Yeah, this thread was spun off from another one. 

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (3/01/2019): FICO 08 EXP: 714; TU: 744; EQ: 710
2019 Goal Score: 800 across the board


Take the myFICO Fitness Challenge
Message 10 of 12