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Pre-qual for Capital One Savor with average credit—try or look elsewhere?

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SlimHades
Member

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?

OK, I'll sit tight and see what C1 has to say when the mail comes. I'm eager to get the ball rolling one way or another, but thankfully don't have any external pressure to do so. That said, it sure felt like an instant denial. I didn't sceenshot the webpage (which mentioned 7-10 days), but the followup email read:

 

"…unfortunately we were unable to approve your application at this time. We know you’re disappointed. To help you understand why, we’ve explained the reason for this decision in a letter or email that you’ll receive within 10 days."

Message 11 of 24
CreditCuriosity
Moderator Emeritus

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?


@SlimHades wrote:

OK, I'll sit tight and see what C1 has to say when the mail comes. I'm eager to get the ball rolling one way or another, but thankfully don't have any external pressure to do so. That said, it sure felt like an instant denial. I didn't sceenshot the webpage (which mentioned 7-10 days), but the followup email read:

 

"…unfortunately we were unable to approve your application at this time. We know you’re disappointed. To help you understand why, we’ve explained the reason for this decision in a letter or email that you’ll receive within 10 days."


ugh ok that is a bit different... let us please know the reasons and you said you were pre-qualified with set APR's from their site or did you get we couldn't match you to any cards, but we think you might like these cards type message?

Message 12 of 24
SlimHades
Member

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?

Will do. There was no mention of APR, just something along the lines of "We think you'll like this offer(s)," with the Savor highlighted and QS and S1 as "suggested" options below it.

Message 13 of 24
SlimHades
Member

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?

Given all of the above, I’ve applied (and was approved) for the Discover it Secured while I await the details from C1.
Message 14 of 24
Anonymous
Not applicable

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?

Excellent choice - the Disco It card is a good one. As mentioned too, when you graduate you won’t be bucketed like you will be with CapOne, and the cash back deal, especially in the first year, is great. It’s a better card than a secured CapOne for sure.
Message 15 of 24
FireMedic1
Community Leader
Mega Contributor

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?

Congrats! Way to go!


Message 16 of 24
SlimHades
Member

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?

Thanks to everyone for the advice and encouragement. I received my denial letter via email from Capital One this morning. Niceties aside, it reads:

“The reason(s) for our decision are:
• Based on your credit report from Experian,there are too few or no accounts
• Based on your credit report from Equifax,there are too few or no revolving accounts
• Based on your credit report from Experian,there are too few or no revolving accounts
• Based on your credit report from Trans Union,there are too few or no revolving accounts”

So it looks like I might be on the right path. Wondering if I should also go for the Cap 1 secured, a lower tier (store?) unsecured card, or wait things out a bit and see how things go with Discover.
Message 17 of 24
Anonymous
Not applicable

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?

Hello
Did you apply? I didn’t see if you did in the message thread. I applied for the Savor last night around midnight myself. I received the typical 7 to 10 days pending status immediately and that I would receive a letter in the mail. So, I called this morning at 10 AM, and then was told by a representative that it was still processing/pending and that I would get a call in the next day or two maximum. Not sure if then I will get a decision or need to send any documents for any verifications. Very interesting. When I got my Chase freedom unlimited card, I got the 7 to 10 day message also, but when I called the next day, they approved me instantly. Capital One seems to have some more security. Let me know if you apply and get approved! Or if it happened already and how it went. Good luck!!!!

M
Message 18 of 24
Anonymous
Not applicable

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?

Darn!!!!! Don’t let it get you down. I think a secured card is alwayyyys a safe bet. Those denials are tough, but not the end. Just don’t rush to apply for another unsecured too fast. Those hard hit are tough!!! Secured may be the way. I agree w you! Goodnight luck!!

M
Message 19 of 24
CivalV
Established Contributor

Re: Pre-qual for Capital One Savor with average credit—try or look elsewhere?

Did the page say you are pre-approved for so and so Cards? If it just said “we think you might like this offer or we suggest these cards below” that is unfortunately not a pre-approval. It happens to me every time I check for prequalifications. I have the Discover it Secured card. Cash back is great and having a limit that works for me as of right now is a plus. And Discover graduates so much better than Cap1. 

 

Message 20 of 24
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