SavorOne Rewards for EXCELLENT CREDIT Approval Odds

[MrPepperoni]

Hi Community,

Question for my girlfriend. She is new to the country and so her credit is very thin.

Car loan with an age of 1 year 3 months
Credit Card (Quicksilver) - 1 year old with $600 limit
+ she is an authorised user on 2 cards (one for 6 months with a limit $11K, and another for 1 month with a limit $23k).

Credit score ~ 743

What do you think about approval odds for SavorOne Rewards for EXCELLENT CREDIT ?

She is pre approved for SavorOne Rewards for Good Credit.
And if she gets denied for this card, does Cap One offer SavorOne Rewards for Good Credit instead automatically or not ?

[CreditPoor]

Have her use the pre-qualification tool. My buddy had a similar type credit and recently applied for Cap One Venture for excellent credit and was given 5k limit.

[MrPepperoni]

We checked pre qualification tool. She is pre qualified for Savor One for Good Credit, but not for Excellent Credit.

You think it is still worth trying shooting for Savor One for Excellent Credit ? 

I am curious if she gets denied, does Cap One automatically offer her Savor One for Good Credit instead without submitting another application ?

[GZG]

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@MrPepperoni wrote:

We checked pre qualification tool. She is pre qualified for Savor One for Good Credit, but not for Excellent Credit.

You think it is still worth trying shooting for Savor One for Excellent Credit ? 

I am curious if she gets denied, does Cap One automatically offer her Savor One for Good Credit instead without submitting another application ?

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unlikely, not worth the risk imo

do make sure you're trying the pre-approval link directly from the savor one, instead of the generic pre-approval link: 

https://www.capitalone.com/credit-cards/savorone-dining-rewards/ 

https://www.capitalone.com/credit-cards/preapprove/u/?landingPage=savorone 

Cap1 could deny the application outright or offer the version without the SUB, they've done both before to people who tried getting the SUB version while only pre-approved for the good credit version. 

If denied, you would get another 3 HPs if you applied for the version without the SUB.

[youngandcreditwrthy]

I would say no because cap one defines excellent credit as at least 5 years of an open account in good standing.

that said, I've read here and on reddit that if she applies for the excellent credit one with the sub and she doesn't qualify, they will offer her the good credit one.. or whichever one she "qualifies for"

P.S. Why hasn't she asked for a CLI on the $600 card? One card with a $600 with one year of payment history is not "excellent" by any means. 

better off checking the pre approval tool on the Discover website as its not a hard pull either. Risky situation to also apply for excellent and possibly get outright denied esp if they pre approved her for the "good  credit" one.

Good luck!

[Zoostation1]

Capital One's definition of excellent credit is pretty flexible. I have a BK7 on record and the oldest account on my reports was 20 months when I was approved for Venture X ( That being saidI agree with @GZG  and @youngandcreditwrthy that it's not worth applying for the  excellent credit with sub version.  If you don't see it on the preapproval you have a low chance of success (FWIW in my case VX did show on my preapproval before applying).

[youngandcreditwrthy]

yeah I mean, there are reports on reddit... a lot actually.. of people knowing they're pre approved for the "good" one and then going for the "excellent " one  directly  only to be offered the "good" one and they get the "good" one but cap one is the biggest issuer of cards in the country, of which I'm sure at least half is subprime, and they have very precarious practices. 

[CYBERSAM]

She already has QS Cap1 so another one with tin file is probably going to be low SL if anything...

I would look at AMEX, Chase, US Bank, Discover etc.

[janderson126]

Hi there. I would agree with the others, and look into something else, like seeing If they can raise the credit limit of current cards and or using pre-approval tools for AMEX or something along that line. Usually better SCL. 

Good luck  

[elboullee]

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@MrPepperoni wrote:

Hi Community,

Question for my girlfriend. She is new to the country and so her credit is very thin.

Car loan with an age of 1 year 3 months
Credit Card (Quicksilver) - 1 year old with $600 limit
+ she is an authorised user on 2 cards (one for 6 months with a limit $11K, and another for 1 month with a limit $23k).

Credit score ~ 743

What do you think about approval odds for SavorOne Rewards for EXCELLENT CREDIT ?

She is pre approved for SavorOne Rewards for Good Credit.
And if she gets denied for this card, does Cap One offer SavorOne Rewards for Good Credit instead automatically or not ?

---

Capital One has their own in-house deifinitions for "good" and "excellent" credit.

C1 says that in order to qualify for the "excellent credit" versions of their cards - the ones with SUBS - you need to have no BKs or charge-offs ever, no late or missed payments within the last year, a minimum of 3-years of your own credit history with at least one card of your own, and a current available credit line of at least $5K.

Unless you meet all of those conditions, I'm not sure it's worth racking up three HPs on a hope and a prayer.