cancel
Showing results for 
Search instead for 
Did you mean: 

APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go

Horseshoez
Established Contributor

Re: APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go


@timbalero wrote:

Hi!

 

 

Side note, I took this forum's advice and did NOT cancel my existing VentureOne before applying for the SavorOne. However, I thought about it and after I was approved, I decided to cancel it anyway. This was going to be my 6th credit card and I felt like having so many good, solid cash back cards (WF Propel, PenFed PCR, Discover It), keeping a subpar card like the V1 felt like a drag. I definitely liked using it during the 10x miles on Hotels.com promo, but ever since that promo ended it's felt like a pretty useless card for me. If Cap1 ends up refreshing it later this year in conjunction with their planned "Venture X" card and airport lounges I'll be kicking myself, but somehow I doubt the V1 will ever be competitive again, so I'm glad it's gone. It'll stay on my report for 10 years which is nice, and by then all my existing cards will be 10 years older anyway.


Like you I'm licking my lips in anticipation of the new Venture X card.  I'm wondering what the annual fee for that card will be; I'm guessing at least $200-$250.

I categorically refuse to do AZEO!

Message 11 of 19
gdale6
Moderator

Re: APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go

Grats on the nice Savor1 SL, grats on it Smiley Happy

 

Cap-1 doesnt seem to operate by Fico scores on APRs. My rebuild began in 2010 with low 600s Fico scores, approved for platinum with 19.9% APR, in 2016 clean and 760+ approved for Sony card with 19.9% APR, today I hold zero actual Cap-1 issued cards and keep a Quicksilver that started with Orchard Bank in 2010 at 9.9% APR and the Walmart that went over from Synch. Now with US Bank it seems most AR cards are reviewed before approval is granted so I would not worry too much about that at the moment.

Message 12 of 19
M_Smart007
Epic Contributor

Re: APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go

Congratulations on your approval!

Message 13 of 19
timbalero
Established Member

Re: APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go


@Ficoproblems247 wrote:

Congrats on your S1 approval! I would definitely call USB and see if they need any verification from you regarding your new address, as that may be all that is holding up your app. May I ask what the appeal of the S1 over the Altitude GO was for you? Was it the added entertainment category? Good luck on the outcome of USB! 


I preferred the S1 for a few reasons.

1. I have an established relationship with Cap1 and like using them for my financial needs. I even bank with them since they have branches in my area (although sadly they have been closing a number of them). Side note, I have even applied to work there (didn’t get the job but will probably keep trying).

2. The entertainment category, like you said.

3. Ease of accruing and redeeming rewards. Cap1 is one of only a small number of issuers that let you redeem at any time for any amount, even one cent. They also give you rewards a day or two after the corresponding transaction posts rather than making you wait for the next statement.

 

Also, thanks for the heads up with the USB address thing. I'll try giving them a call.

Message 14 of 19
timbalero
Established Member

Re: APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go


@Horseshoez wrote:

Like you I'm licking my lips in anticipation of the new Venture X card.  I'm wondering what the annual fee for that card will be; I'm guessing at least $200-$250.


If they’re trying to go after Chase and Amex I would expect the fee to be at least $400 to $450 with a travel credit that could bring the effective AF down to $150 or $250. I wonder if they’re going to place an added emphasis on their new travel portal with mile multipliers, too. The Venture's current schtick is that miles can be redeemed for any travel purchase from anywhere, not just ones made using the portal.

Message 15 of 19
Horseshoez
Established Contributor

Re: APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go


@timbalero wrote:

@Horseshoez wrote:

Like you I'm licking my lips in anticipation of the new Venture X card.  I'm wondering what the annual fee for that card will be; I'm guessing at least $200-$250.


If they’re trying to go after Chase and Amex I would expect the fee to be at least $400 to $450 with a travel credit that could bring the effective AF down to $150 or $250. I wonder if they’re going to place an added emphasis on their new travel portal with mile multipliers, too. The Venture's current schtick is that miles can be redeemed for any travel purchase from anywhere, not just ones made using the portal.


I could easily see $400+, hence my language of, "...at least $200-$250".  That said, the devil is in the details; I've read the CapOne lounges may be "fee for use" where the fee is on a graduated scale, those with their lower level products pay the most, and those with say, the Venture (or the speculated Venture X) paying the least, or nothing at all.  If the Venture X card provides free access, then yes, your guess as to the AF would be my guess as well.

I categorically refuse to do AZEO!

Message 16 of 19
RickNATL
Established Contributor

Re: APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go

I thought it was common for US Bank to go to manual review?

Message 17 of 19
coldfusion
Community Leader
Super Contributor

Re: APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go


@RickNATL wrote:

I thought it was common for US Bank to go to manual review?


It is.



(4/2021)
FICO 8 (EX) 815 (TU) 822 (EQ) 808
FICO 9 (EX) 827 (TU) 826 (EQ) 832

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 18 of 19
timbalero
Established Member

Re: APPROVED for Cap1 SavorOne, [possibly] denied for US Bank Alt Go

Reviving this thread to mention the new 3% grocery and streaming categories added to the SavorOne! I haven’t even gotten my card in the mail yet but I’m already more pumped to use it! This totally makes up for being denied for the Altitude Go (I did call US Bank's automated system to check the status of my app and confirmed I was denied, but haven’t yet gotten the adverse action notice in the mail).

Message 19 of 19
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.