1st Approval (No Credit)CapitalOne Savor

[creditgenius]

Hello everyone, 

I have been lurking and reading for a couple of months and decided to finally pull the trigger on my first card. I was approved for the cap one Savor One "good credit" card after looking at my pre-approvals. 

SL is $300. 

I am just looking for your expert advice now. I am assuming I do not try to apply for anything else until 90-180 days or until I have an actual score. Is there anything that you could recommend I do? Maybe open an installment loan now for credit mix?

My goal cards are Apple credit card, Amex and chase. I look forward to your responses.

Thank you!

[mgood]

Congrats! SavorOne is a good card that earns 3% in a handful of useful categories. 

I think the "for good credit " version means you won't get a sign-up bonus,  but that's the only difference,  as far as I know. 

[creditgenius]

Hi

Thank you for the response. I did not have courage to apply for excellent credit due to not have any so I don't mind not getting any bonuses at the moment. I am happy there is no AF for this version of Savor. Will this card be able to grow beyond its bucket?

Thank you.

[GZG]

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@creditgenius wrote:

Hi

Thank you for the response. I did not have courage to apply for excellent credit due to not have any so I don't mind not getting any bonuses at the moment. I am happy there is no AF for this version of Savor. Will this card be able to grow beyond its bucket?

Thank you.

---

assuming you have no negative credit history, it should be able to grow, at least modestly with spend and time

[mgood]

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@creditgenius wrote:

 Will this card be able to grow beyond its bucket?

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I wouldn't count on it growing very fast. My SavorOne started as a Platinum with a $300 limit, and it's at $5850,  but I've had it for almost 8 years. Lots of small increases along the way. 

[CreditMagic7]

Congratulations on your NEW SavorOne!!

[JoeRockhead]

Congratulations on your approval!

[creditgenius]

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@GZG wrote:

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@creditgenius wrote:

Hi

Thank you for the response. I did not have courage to apply for excellent credit due to not have any so I don't mind not getting any bonuses at the moment. I am happy there is no AF for this version of Savor. Will this card be able to grow beyond its bucket?

Thank you.

---

assuming you have no negative credit history, it should be able to grow, at least modestly with spend and time

---

Hi,

Thank you for your response. 

I am building from scratch with absolutely zero history. Do you have any further recommendations?

[cashorcharge]

WooHoo!! Congratulations on your Approval!!👏🏼🍾🥂

[mgood]

Wait a few months,  or at least until you have a credit score,  then apply for a Discover it Cash Back. 5% on rotating categories and 1% on everything else.  BUT they double that for the first year,  so it's effectively 10% on some stuff and 2% on everything else. 

Before that year runs out,  get a good 2% on everything card and you have a nice set-up with a 5% rotator,  a good 3% category card and a 2% card for whatever those others don't cover.

Don't just get whatever card you can get approved for. Have a plan and apply for cards that fit in your system.