Capital One Savor Pre Approval denial or?

[Brittny484]

My mother is working on thickening her credit file. She has an auto loan in good standing, and thats about it. Never had a late pay, no baddies. Her score ranges between 689-700 from Eq Ex and Tu. Her goal is to get two credit cards and call it good for now. She came over today and applied for the Chase Sapphire Preferred and immediately approved for 5k sl. My mother eats out a lot, so we thought the best card for her second option would be the Cap Onrle Savor. I directed her to the pre approval page first, where she was pre approved for Venture, Savor, and QS.

We obviously went for the Savor. She was denied! Got a message saying "we know your disappointed about being denied, we will message you within 7-10 business days explaining" or something along those lines. She also got an email saying the same thing.

I think she was denied because she had just applied for Chase? Other than that, I am not sure. She makes great money, has 100% on time payment history, no baddies, just a thin file. I suspect Cap One might have thought it fraudulent?

Either way, she got the Chase Sapphire Preferred which in my opinion, is the ultimate. But I was curious what you guys think about the Savor? I told her to call them in a couple days to see what's up. 

[coldfusion]

Capital One hard pulls from all 3 major credit bureaus, so it could be that they didn't like seeing the inquiry  (or inquiries, Chase sometimes pulls from 2 bureaus in response to an application for credit) from earlier today.  It could be that your mothers credit file was too thin for Capital One's liking.   Or, it could have been something else entirely different.   You really won't have an idea of what their main concern was until you get the letter and we can only speculate as to why there was a denial.

Your mother also learned the hard way that in most cases having a preapproval only translates into better-than-average odds of approval, not a guarantee of approval.   You absolutely have nothing to lose by calling but the rep may tell you to wait until you get the letter that outlines the reason for denial and then call back.

[OmarGB9]

You could try calling in a couple of days, but yea they probably won't tell you over the phone. And unfortunately there's no recon with Cap One either. 

[collics]

Did she apply for the Savor or Savor One?

either way, yes it's a bummer due to the triple pull but there are other cards that give good dining rewards including the card she was just approved her. 

[SUPERSQUID]

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@Brittny484 wrote:

My mother is working on thickening her credit file. She has an auto loan in good standing, and thats about it. Never had a late pay, no baddies. Her score ranges between 689-700 from Eq Ex and Tu. Her goal is to get two credit cards and call it good for now. She came over today and applied for the Chase Sapphire Preferred and immediately approved for 5k sl. My mother eats out a lot, so we thought the best card for her second option would be the Cap Onrle Savor. I directed her to the pre approval page first, where she was pre approved for Venture, Savor, and QS.

We obviously went for the Savor. She was denied! Got a message saying "we know your disappointed about being denied, we will message you within 7-10 business days explaining" or something along those lines. She also got an email saying the same thing.

I think she was denied because she had just applied for Chase? Other than that, I am not sure. She makes great money, has 100% on time payment history, no baddies, just a thin file. I suspect Cap One might have thought it fraudulent?

Either way, she got the Chase Sapphire Preferred which in my opinion, is the ultimate. But I was curious what you guys think about the Savor? I told her to call them in a couple days to see what's up. 

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There are 2 different versions of savor, the one that has a signup bonus and the version thats for good credit without the signup bonus.

I have the savor one without the signup bonus , for good credit. I got the card last november with a gazillion inquiries 20+ and scores lower than your mom. 3k sl.

Its a great card with 3 pct cash back for groceries and dining, i dont eat out much but i use it regularly for groceries.

Perhaps she applied for the savor one with the signup bonus? Tougher underwriting.

[CreditCrusader]

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@Brittny484 wrote:

 I directed her to the pre approval page first, where she was pre approved for Venture, Savor, and QS.

We obviously went for the Savor. She was denied! Got a message saying "we know your disappointed about being denied, we will message you within 7-10 business days explaining" or something along those lines. She also got an email saying the same thing.

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Cap 1 "pre-approvals" are less and less trustworthy these days...and with the dreaded triple bureau pull, no less.

Their products are great for some.

For others, their business model has become obsolete and cumbersome...and I say that as a longtime defender of their business model.