The Savor Situation

[Patient957]

 I'm interested in the Savor card. I have a Venture X ($30K CL) and a Venture One ($10K CL). I've had the V1 for 3 yrs and VX for a year.

Fico 8s 797 to 806. New revolving accounts 3/24, 2/12, 0/6.

Capital One preapproval shows only secured cards, and it's been that way since I got the VX last April.  I think the reason might be because the $40K in combined limits is the max they're willing to extend right now.

I found two posts online with nearly identical fact patterns. One applied anyway and was approved. The other requested CLD on existing cards, waited two months, got preapproval, then applied and was approved.

I don't use my V1, but I do want to keep it. If I got a small Savor approval, I could reallocate most of that limit to the Savor.

So I'm considering three options:

1) Just apply anyway.

2) CLD the V1 and wait for preapproval down the road (my least favorite option, but I'm not ruling it out yet.)

3) Bugger off and forget about the Savor for now. There are other options that won't be a 3x HP.

I'm about a coin flip between 1 and 3.

I know people generally consider Cap One preapprovals reliable. But are they generally the 'no means no' type?

What say you all?

[ElvisCaprice]

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@Patient957 wrote:

 I'm interested in the Savor card. I have a Venture X ($30K CL) and a Venture One ($10K CL). I've had the V1 for 3 yrs and VX for a year.

Fico 8s 797 to 806. New revolving accounts 3/24, 2/12, 0/6. Income ~$120K.

Capital One preapproval shows only secured cards, and it's been that way since I got the VX last April.  I think the reason might be because the $40K in combined limits is the max they're willing to extend right now.

I found two posts online with nearly identical fact patterns. One applied anyway and was approved. The other requested CLD on existing cards, waited two months, got preapproval, then applied and was approved.

I don't use my V1, but I do want to keep it. If I got a small Savor approval, I could reallocate most of that limit to the Savor.

So I'm considering three options:

1) Just apply anyway.

2) CLD the V1 and wait for preapproval down the road (my least favorite option, but I'm not ruling it out yet.)

3) Bugger off and forget about the Savor for now. There are other options that won't be a 3x HP.

I'm about a coin flip between 1 and 3.

I know people generally consider Cap One preapprovals reliable. But are they generally the 'no means no' type?

What say you all?

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I'm not a big fan of C1.   So really, only the SUB's would interest me but man, 3 HP's, uggh.   I don't know why you want to keep the V1?  But another option would be to product change it to the Savor.  That way you retain the CL, age and no HP's.

[Varsity_Lu]

Love my Savor card!  In your case a product change to the Savor is probably your best option. You won't get the SUB, but you'll have a very useful 3% no AF card without any inquiries or new account penalties.  Some people swear by the VX-Savor combo.

[Patient957]

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@ElvisCaprice wrote:

 I don't know why you want to keep the V1?  

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Because it's the only no AF card that gives access to C1 transfer partners.  If I ever do get rid of the VX, I can still transfer miles out.  It's not a hugely likely scenario, but it could happen if, for example, they raise the AF a lot on the VX.  Then I could close the VX without losing transfer partner access.  

  But another option would be to product change it to the Savor.  That way you retain the CL, age and no HP's.

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I would consider this if the Savor appeared in my upgrade options, but it doesn't.  Can I call and request a PC even if it's not offered in my account?  I always thought it had to be there or you couldn't get it.

[ElvisCaprice]

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@Patient957 wrote:

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@ElvisCaprice wrote:

 I don't know why you want to keep the V1?  

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Because it's the only no AF card that gives access to C1 transfer partners.  If I ever do get rid of the VX, I can still transfer miles out.  It's not a hugely likely scenario, but it could happen if, for example, they raise the AF a lot on the VX.  Then I could close the VX without losing transfer partner access.  

  But another option would be to product change it to the Savor.  That way you retain the CL, age and no HP's.

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I would consider this if the Savor appeared in my upgrade options, but it doesn't.  Can I call and request a PC even if it's not offered in my account?  I always thought it had to be there or you couldn't get it.

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Definitely, call them, can't hurt, there are data points to success with this PC, V1 to Savor.  Then if you ever decide to get rid of the Venture X, just downgrade it with a PC to the V1.

[Patient957]

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@Varsity_Lu wrote:

Love my Savor card!  In your case a product change to the Savor is probably your best option. You won't get the SUB, but you'll have a very useful 3% no AF card without any inquiries or new account penalties.  Some people swear by the VX-Savor combo.

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Currently the upgrades that show up as offers in my account are QS and Venture, no Savor.  So same question, can I call and request a PC that isn't offered in my account?

[ElvisCaprice]

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@Patient957 wrote:

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Currently the upgrades that show up as offers in my account are QS and Venture, no Savor.  So same question, can I call and request a PC that isn't offered in my account?

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Do it.  What do you have to lose by calling and asking?

[Patient957]

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@ElvisCaprice wrote:

Definitely, call them, can't hurt, there are data points to success with this PC, V1 to Savor.  Then if you ever decide to get rid of the Venture X, just downgrade it with a PC to the V1.

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Good call.  I'll try this.

[Patient957]

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@ElvisCaprice wrote:

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@Patient957 wrote:

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Currently the upgrades that show up as offers in my account are QS and Venture, no Savor.  So same question, can I call and request a PC that isn't offered in my account?

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Do it.  What do you have to lose by calling and asking?

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I called and asked.  No go.  You can only PC to products offered by the system.  The system thinks a QS or Venture might be appropriate for me, even though I already have a VX.  Not the sharpest tool in the shed, this system.  The rep I spoke with understood why the current offers make no sense for me, but as we all know, at C1, the computers run the show.

So I'm back to my original question regarding a new app.  Just apply or CLD first?  Anyone have any advice on this specific question or am I on my own?

[pizzadude]

If your overall credit profile and history with Cap1 is good and you don't mind the triple HP then I'd say go for it.   Not sure that you can rely on their pre-approval suggestions to derive the max exposure they'll offer to you.  

If it's the 3% CB that your are after, then there are many other options / creditors which you could consider who'd pull only one CRA.