Need help understanding Savor One for GOOD CREDIT

[elboullee]

---

@MitchDeerfield wrote:

---

Capital One never tells you that you got approved for the Excellent Credit Savor One, the Good Credit Savor One, or the Lousy Credit Savor One.   There is no such animal.  You just have to read the terms and conditions like a hawk before applying with a hard credit pull.

---

---

The SavorOne page on the C1 website quite literally shows you all versions of the card, clearly lables each as "for good credit" and "for excellent credit" etc., clearly explains that only the "excellent credit" version is eligible for the $200 SUB, shows the different benefits for each SavorOne card, shows the different APRs, and has three separate "apply" buttons under each version of the card.

You want the $200 SUB? Hit the "apply" button under the "excellent credit" version and take your chances.

How is that not perfectly clear?

[MitchDeerfield]

When I was pre-approved, Cap One never told me whether I had excellent or good credit or subpar credit.  Since my FICO is 817 I think I have excellent credit.  I am supposed to guess that I  am just "good credit" with an 817 score?   Also I don't apply for credit cards that don't have a good sign up bonus,  I'm not interested in them.

This fits me, per C1 standards

Excellent Credit  

I’ve never declared bankruptcy or defaulted on a loan; I haven’t been more than 60 days late on any credit card, medical bill, or loan in the last year; I’ve had a loan or credit card for 3 years or more with a credit limit above $5,000.

[JdsFico]

Just my anecdotal evidence but this month I applied for 2 preapprovals, citi and cap1. Citi gave $3900 SL and cap1 gave $1k... I was preapproved for Cap1 Savor one through the site along with quicksilver and venture x (I think). I was more interested in Savor One because of Balance transfer promo (because I'm dumb and have a big utilization accruing interest...) so chose Savor One, was approved with 1k limit with the sign up bonus of spend $500 get $200. My scores are 690s, not that many HPs, and some of my other cards have higher limits like WF, BOA, Citi all $4k+. Cap1 triple hard pulled me for a measely $1k SL, not very worth it to me but whatever. I didn't know about the triple pull when I applied, part of the reason I joined this forum to learn more about it before I do something else I regret...

[Zoostation1]

@MikeyMagicI wouldn't apply for another card yet!  It'll either be a low limit or a denial with all the inquiries and new accounts you have.  I'm going to give the same suggestion I have before (what's in italics is from a previous thread)

As I've mentioned in other threads, don't apply for anything for a while given how many accounts you have already (you'll either get denials or low CL's that won't benefit you much in the long run. Just keep using your cards and paying in full for a while (boring is still good). If you really want the SavorOne with the sub, wait another year to build some more history and let some of those inquiries stop hurting your score before applying (may also be worth looking at what cards are not giving you value anymore at that time too).

[Tdatb64]

My scores are in the 750s. I have a Quicksilver with a $3.000 limit (started as a $500 Platinum just over 2 years ago). My TCL on 8 cards exceeds my annual income. My util was at 14%. Capital One bombarded me with pre-approval offers on the Savor One for Good Credit with 9 months 0% APR and 29.99% after that (below current cold-app rate of 32.99%). I was 0/6, 2/12, 6/24 for new accounts when I accepted their offer. I got a whopping $500. Triple pull.

You might get the card but don't depend on a good limit. You might get $3,000. You might get $300. I don't think even Capital One understands their algorithms!

[JdsFico]

@Tdatb64 Yea that's very strange, my credit utilization was at 65%, scores in the 690s, and they gave me $1k SL. Doesn't make much sense they would give you lower than me... also mine has 0% for 15 months on BT and purchase, and the sign up bonus of spend $500 get $200 credit.

[Zoostation1]

@JdsFicoCapital One can be a strange one.  If you got the 0% offer plus the sub you were able to get the std version (Cap One calls it "excellent credit") and not the "good credit" version.  I was at 1% utilization when I got my SavorOne with a $3k limit but it was the no sub "good credit" version.  I'm sure I had the no sub version due to rebuilding post BK7 (the BK was filed almost 5yrs before I applied but I was less than a year into rebuilding).  For cards with the sub, their algorithm tends to favor three types of people imo:

1. People with established credit that often carry a balance but don't default
2. People who are newish to credit (but not brand new) .  They want to get in before you're in deep with other lenders. 
3. People with a solid established history and PIF, but don't have a lot of cards - if the algorithm doesn't come to the conclusion you're going to give Cap One a lot of your spend after the sub you'll often get approved for the no sub version only

[bytechma]

---

@MikeyMagic wrote:

Hey all

Have a question I'm sure some of you guys will know the answer to.

So I am a little over 6 months into my credit journey and my FICO 8 scores avg around 725 right now.

I was curious(I always am lol) and checked the Capital One preapproval page and I was preapproved or prequalified(not sure which one) for the Savor One with GOOD CREDIT.

I have always wanted the Savor One but to get preapproved is pretty cool to me. 

My question is:

I don't plan on applying for another card until 1 year is up, but I am curious- if I applied for the Savor One is there a strong chance now I would be approved due to the preapproval showing me that card as an option?

Also, my credit limits are all $300-$500 on my starter cards except for PayPal Credit with a $1200 CL. Since this is a Savor One with GOOD CREDIT, if I got approved would I be more likely to get a $2000 or $3000 CL or would I still get a measly $500 or something even though the card is for people with GOOD CREDIT?

I'm just curious if the GOOD CREDIT part would mean I would finally get a much higher credit limit than I currently have on my other cards.

Thanks so much!!

---

Just wanted to share a data point with you. I started my credit rebuilding journey a few years ago. For my first card I recvied a preapoved Quicksilver One with no SUB, annual fee of $39 and a credit limit of $500 on 4/23/2023. 

my second card was a preaporoval for the Savor One for Good Credit. I was approved for $2,000 credit limit with no SUB. opened the card in Feb 2024. 

not advising you that the $2,000 limit is guaranteed or whether to apply or not, but just wanted to share my experience. My credit score across the 3 were reports around 640

also one thing to note my credit profile is different than yours. I am not new to the credit as I used to have credit cards from all the major lenders such as Amex BOA, Citi, Chase, etc but just ruined my credit because of risks I took and going through a divorce. I almost  filed for bankruptcy but didn't. 

even though I only one credit card when I was approved for the Savor One. My credit age was still 9 years as I had other installments loans such a car note from Capital One that helped with my account age and credit diversity, and I only had 1 or 2 hard pulls across my credit reports. Also, I am authorized user on several cards from a family member with over $50k limit with only 1% utilization. 

hoepfully this helps. And congrats on all the early success in your credit journey. 

[youngandcreditwrthy]

@MikeyMagic 

because this is a core card, you are not likely to get a large limit starting out like that.

depends on aaoa though too? my FICO was low 600s and I got approved for a 14k QS card (but I had aaoa 9 and 0 utilization) Can't think of any other reason than a long credit history for my approval.

cap one's pre approvals are SOLID BUT if you have ANY fraud alert or any credit alerts on your credit report(s) you WILL be asked to provide ID, SS card, and POI (three bank statemnets or 2 paystubs)

What I would do if you are wanting to build credit limits is go check the cobranded cards for pre approval.

I got a pre approval on the west elm card which is also in the 'good/excellent" category and that card is guaranteed a starting limit of 3k.

cap one just isn't known for allowing subsequent approvals to have higher limits. This is just my experience.

if you have use for a West Elm Visa Signature or any ot their other retail co branded cards... maybe Wal Mart, you might consider those if solely looking to get bigger credit lines. that is what I did.

also cap one considers good credit in the 640+ range and excellent in the 680+ range FICO whereas most lenders are considering good at 660-680 and excellent 720-730+

Good luck! I love my West Elm Visa Signature so far!