Hi all, just wanted to add my datapoint to the approvals for the Cap1 Savor.
I got an offer in my email that I was pre-approved for Savor with 9 months at 0% for new purchases and the 3% dining and groceries rewards. Didn't seem like the 0% applied to balance transfers, but I didn't pay much attention to that since I have no need at this time. After doing a quick app (signed in to my Cap1 to make it quicker) I got an instant approval for $3,000. HH Income > $200k, rent home. Application Credit Score Fico04 (TU) came back at 537 (!) although my Fico08 scores are consistantly 630-645.
Background:
I am in rebuilding mode for the past 1.5 years after having financial issues in 2019, and just hiding out in 2020. I have 3 large > $20k collections currently. It was a sad fall from grace for my credit as I had 800+ scores and almost all revolvers > $20k limits, with a BofA card limit at $81k - but bad financial hygene that got me down a spiral. In 2021 I started rebuilding, and I had 4 credit accounts that remained open from before although credit limits were slashed (Limits: Discover $8,100, Barclays MC $4,800, Target MC $2,750, Home Depot Citi card $500) and I opened a checking account with Cap1 360, then they pre-approved me for the Cap1 Walmart card for $1000. A few months after that I app'd for Cap1 QuickSilver One and got only $300. The Walmart MC is now at $2,000 CL after 2 auto CLI's, QS1 is still at $300 never got a CLI :-( All of those cards get decent use and were $0 balance at the time of my Savor approval, although my Barclay's MC & Discover have significant balances vs. limits. I also have payment program with Amex that started paying down $42k in balances at the beginning of this year and will be done after 3 more payments (very painful $3,500/mo payments!) , at which time they said would reopen my Amex Platinum charge with a restricted $3,700 limit as part of my program. In the next couple of months I plan to find a way to negotiate a few of the accounts that went to collections (3 total) and get them removed if they will do a PFD. One of them has already offered a 75% discount ($30k down to $7,500) but has not gotten back about the PFD. I won't pay them anything if they don't PFD, not a fan of collection agencies.
I'm feeling hopeful of overcoming the past issues in the coming years, and am now feeling that I made the right decision not declaring BK and instead digging myself out and trying to make the creditors whole as best I can.
