SavorOne targeted preapproval missing SUB

[LADave]

The Capital One SavorOne has been a goal card for me for a while now, and I recently got a targeted pre approval email and notice in the app for it, "due to your great track record as a loyal Capital One customer." However, it only has 9 months instead of 15 at 0% APR, and no $200 SUB.

I see that I'm also not the first person to ask about it at myFICO: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Which-Capital-One-card-was-I-just-approved-fo...

The offer is a cross between the SavorOne and SavorOne "For Good Credit" (with no SUB and no 0% APR period).

What I'd like to know is if this would mean I'm likely to get approved for the better SavorOne offer on their website with the $200 SUB and 15 months at 0%. Only secured cards are showing up for me on the Cap 1 pre approval site since I got the WF Autograph card in July, and I'm not sure if newish cards prevent preapprovals on their site or actual approvals from Cap 1.

I'm currently 704 on Equifax (1 inquiry), 715 on TU (3 inquiries), and 690 on Experian (9 inquiries). I'm at 8/24 and 15 percent utilization (all of it at 0 percent), AAoA is 3 years. If I apply, I'm freezing Experian. 

[Anonymous]

Sub is for Excellent credit, I didn't make it, requires great score(750 Vantage or something) and at least 3 yrs credit history. I shouldn't have apped, was looking for sub and got tricked by nerdwallet and apped using its link 

IMO you won't get the sub 

[LADave]

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@Anonymous wrote:

Sub is for Excellent credit, I didn't make it, requires great score(750 Vantage or something) and at least 3 yrs credit history. I shouldn't have apped, was looking for sub and got tricked by nerdwallet and apped using its link 

IMO you won't get the sub 

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It sounds like you didn't get a pre approval from Cap 1 before applying?

I do see approvals for SavorOne with the SUB on MyFICO with FICO 8 scores in the low 700s.

Capital One can be unpredictable. If I understand correctly, they use a relatively obscure (and older) FICO version that's just for credit cards. They don't use or care about VantageScores, even though they provide them in CreditWise. The pre approval I got explicitly says the CreditWise (Vantage) score won't factor into their final approval decision.)

[Anonymous]

Well, personally I would wait for better score, but only one way to find out if you want the card now, if you don't mind incurring 3 HPs. 

[citymunky]

I emailed the same offer Capital One for being a "loyal customer."

What is the strategy of keeping your EX frozen during the app? Does that work? Capital One will still approve a CL by only pulling data from TU and EQ? 

Currently my EX score is the lowest mainly because my home mortgage is not being reported on EX. 

I have yet to pull the trigger on my offer because I was trying to garden a bit longer as the Avg age of my Accounts across all CRBs is about 2 years across the board. Also I have 6 inquiries on EX and TU with 3 falling off by next June.

[LADave]

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@citymunky wrote:

What is the strategy of keeping your EX frozen during the app? Does that work? Capital One will still approve a CL by only pulling data from TU and EQ? 

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There are several data points that you can freeze one profile and you can still get approved with Capital One. You can't get approved if you freeze two of them. My Exp has the most inquiries by far, so that would be the one I'd freeze.

[citymunky]

Thanks,  I need to look into that.

[Anonymalous]

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@LADave wrote:

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Capital One can be unpredictable. If I understand correctly, they use a relatively obscure (and older) FICO version that's just for credit cards. They don't use or care about VantageScores, even though they provide them in CreditWise. The pre approval I got explicitly says the CreditWise (Vantage) score won't factor into their final approval decision.)

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Cap1 pulls EX 3, EQ 5, and TU 4. These are old FICO versions (1998 to 2004), but they're still widely used. However, the reason they're still widely used is because those specific versions are required by Fannie Mae, and most mortgages are written to conform to their standards. They're mortgage scores, and only rarely used by credit card lenders.

@LADave, I got what sounds like the same targeted offer a couple months ago. No $ SUB and only 9 months at 0% APR, plus a long-term APR at the high end of the range of the standard Savor One (it was lower than the APR of the Savor One for Good Credit, at least). My Platinum/Quicksilver had turned a year old a couple months before. Cap1 really hasn't shown me a lot of love -- my Quicksilver still has a CL of $300. So while I was glad to see some of the ice breaking, I have no confidence at all that I'd be accepted if I applied for the regular Savor One. My scores are higher than yours and I have far fewer inquiries, but my age of credit history is much younger (18 months).

[Anonymous]

OP has some good limit cards like Disco and Active Cash(good income?), and 3yr history is another favorable omen but for the low scores. What limit will you get, Autograph was 1k, right? And if you get it even with sub, won't it interfere with your app for the supposed WF travel card in January or will you app later than that.

[citymunky]

@Anonymalous 

Why would Cap1 use FICO Scores required by Finnie Mae to issue a credit card?

Currently my EX3=668, EQ5=702 and TU4=706.