Should I app for Savor?

[Anonymous]

I recently went on a mini app-spree this spring in February. I am a student and will be relocating May 23rd for a summer internship. I have thousands of dollars of spend this summer, and thought that the $500 SUB would be perfect. I want to apply for the card in the coming days, because I don't want verification issues when I move.

I do almost all of my banking with Capital One (savings, checking, IRA, etc), they were also my first card.

Here are the cards I've gotten in the last 12 months:

June 2018: USB Cash+, UBER, Freedom

January 2019: Amex Delta Gold

February 8th: FU, Sapphire Preferred, WF Propel

What do you think my odds are? I know its not perfect, but I've had a card with them for almost 3 years, and I've been bucketed at $2,500, so I'm hoping they're willing to extend just enough credit for another app.

EDIT: In addition to wanting to app before I move, I really want the $500 offer before it disappears. Right now its only avail through referrals.

[Anonymous]

Check and see if you have a prequal.

There have been rumors that Cap has a 4/24 or 5/24 rule and there have been some high FICO score holders denied the card for too many accounts. That said, having an existing relationship with them may help. Whenever I check prequals, I have the Savor as my number one if I tell them I’m looking for cash back and the Venture as my number one if I tell them I want a card for travel rewards and I’ve added 6 revolving accounts in 6 months and 10 in 12, 11 in 24 but I’ve had a QS with them for 5 years now.

That said, people have been denied with a prequal offer too. Maybe check the APR. 25.74% tier would definitely give me more pause (which is the offer I have right now) than 22.74% or especially 16.74%. Also keep in mind that there’s no recon with them so if it’s a no, it’s a wasted pull on each bureau.

[Anonymous]

I don't have any prequals, only prequals through Amex right now. I am hoping that they can scrape together a few thousand and give an approval.

[Anonymous]

Without a prequal, you just have to evaluate if it’s worth the pull on each bureau for you. I mean if it was me, I would do it, especially if you can meet that SUB and not end up being trapped paying interest since there is no 0% intro APR. Inquiries are the least impactful thing you can have and they only last two years on the report and stop being scoreable after a year. 

[pinkandgrey]

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@Anonymous wrote:

Without a prequal, you just have to evaluate if it’s worth the pull on each bureau for you. I mean if it was me, I would do it, especially if you can meet that SUB and not end up being trapped paying interest since there is no 0% intro APR. Inquiries are the least impactful thing you can have and they only last two years on the report and stop being scoreable after a year. 

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I agree. If the SUB is something you can hit, give it a go. Just do be prepared for the triple HP. Good luck!

[Anonymous]

If you have a prequalified offer, you should be fine. However, you should be really careful with this card - lots of people with high scores getting denied because they had recent applications/accounts opening on their report. If you can wait so that it's been at least 90 days since your last inquiry, that would likely be the best option.

[Anonymous]

So I went ahead and applied. What's strange: I haven't received any hard pulls at all and was denied with a letter 7-10 days from now. I can't find any instance of people not getting pulled at all. It's been 24 hours since I applied and still nothing, just waiting for the letter. Hope I didn't enter my SS wrong...might be verification? But I thought they still did pulls before verification.

[Shooting-For-800]

Did it say denied?

[Anonymous]

It said something along the lines of "Sorry we couldn't approve you, wait for a letter in 7-10 B.D." I also got an email saying the same thing.

[Anonymous]

I'd be curious to what the reason for denial would be; if you don't mind sharing the dp's when you find out that would be great.  Sorry that it didn't pan out.