Some background: I just bought a house (first time buyer) and will close in 3 weeks (yay!). After closing, I anticipate having to buy a bunch of stuff homeowners need (furniture, lawnmower, ladder, tools, etc.) and I would like to put it on a credit card with 0% promo APR for the first year (don't worry, I'll pay it all off before the regular APR kicks in).
I've been eyeing the SavorOne as a possible option, but I already have 2 cards with Capital One: a Quicksilver ($10k limit) and VentureOne ($6.5k limit). I rarely use the V1 except every few months to keep it open, and wouldn't miss it if it was gone. It is my oldest card, though. Something like 6.5 years old whereas the QS is only about 4 years old.
My question: If I close the VentureOne before applying for the SavorOne, will that increase or decrease my approval odds? Also, will I get a higher or lower starting limit on the SavorOne? Or will it have no effect whatsoever on either?
Also, side question: Would I be considered too risky to approve right now since I just took out a mortgage? I would obviously wait until after closing to apply for the card, since the mortgage matters way more, but would that have a negative effect on my approval odds for the card?
Mortgage makes you more stable not less (in theory).
I would check prequal.
I would apply for Savor(one) before closing any other card.
Congrats on your new house and GL!
@Shooting-For-800 wrote:Mortgage makes you more stable not less (in theory).
I would check prequal.
I would apply for Savor(one) before closing any other card.
Congrats on your new house and GL!
+1 to applying before closing a card. Unfortunately there is no prequal for the S1 any longer. Only for Secured, Platinum, QS, and QS1. Walmart card as well, but the prequal link is on a different page. Congrats on the home, and good luck if you app! Let us know how it turns out!
@Shooting-For-800 wrote:Mortgage makes you more stable not less (in theory).
Even if I just got approved for it and don't have any payment history on it yet?
@Shooting-For-800 wrote:I would check prequal.
Doesn't prequal only check for subprime cards like the Platinum or QSOne? There's some fine print at the bottom of the prequal page that seems to hint at this, but not sure.
@Shooting-For-800 wrote:I would apply for Savor(one) before closing any other card.
Darn. I was actually hoping it would help my odds to close one. Remembering to put periodic charges on the VentureOne is a hassle sometimes.
@Shooting-For-800 wrote:Congrats on your new house and GL!
Thank you! 
Cap One used to prequal for any card.
It was nice because if you prequaled for Venture (not venture one) then you knew you would get a $5k+ CL.
I guess they changed it.
GL!
@Ficoproblems247 wrote:
+1 to applying before closing a card. Unfortunately there is no prequal for the S1 any longer. Only for Secured, Platinum, QS, and QS1. Walmart card as well, but the prequal link is on a different page. Congrats on the home, and good luck if you app! Let us know how it turns out!
Thanks and will do!
@Anonymous wrote:Have no Cap cards, NOT sure but believe they recently change rules that you may only have 2 Cap cards at one time. Know others have more than 2, grandfathered in.
This is only true for Capital One's subprime cards (Platinum, Secured, QuicksilverOne, and Journey I think). You can have up to 5 of their prime cards (Savor/SavorOne, Venture/VentureOne, and Quicksilver), per their own website. This is from Cap1's own product page for the SavorOne, at the bottom in the "Rate and fee information" section:
I understand that I am not eligible for this offer if:
[...]
I have 5 or more open credit card accounts with Capital One.
https://www.capitalone.com/credit-cards/savorone-dining-rewards/
@Anonymous wrote:Have no Cap cards, NOT sure but believe they recently change rules that you may only have 2 Cap cards at one time. Know others have more than 2, grandfathered in.
Per the T&Cs posted right on Cap1's website: You may not apply for Secured, Platinum, QS1, or Journey if you currently have TWO or more Cap1 products. You may not apply for Venture, Savor, V1, S1, or QS if you have FIVE or more products with Cap1. The rule of 2 only applies to their sub-prime products. OP will be complete fine to app for S1.