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I just dont get Cap One

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Regular Contributor

I just dont get Cap One

I have this QS card with a near 15K limit, never a late pay, usually pay in full and if not, always more than the minimum due, and I have had them for about 8 years I think, and they just will not upgrade me to a savor card. My score is in the 700 and just no. So frustrating.














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Message 1 of 12
11 REPLIES 11
Valued Contributor

Re: I just dont get Cap One

I'm pretty sure Cap1 is not allowing any upgrades to the Savor card for anyone right now.
Message 2 of 12
Moderator

Re: I just dont get Cap One


@AnimalHouse121 wrote:
I'm pretty sure Cap1 is not allowing any upgrades to the Savor card for anyone right now.

+1

 

That's correct which also includes SavorOne.  This has been the case for some time now.

 

@TwilightSymphonie- you can always try next year, but there's no telling whether the PC policy will change.

Message 3 of 12
Regular Contributor

Re: I just dont get Cap One

I applied for the Savor just to see, and yea denied. No one can tell me why other than I meet the basic qualifications. Its one of my more aged cards but honestly at this point, i am thinking of just paying it off and closing it. This experience has left a bad taste in my mouth with them as a company and clearly they dont want my business. It makes no logical sense why not to upgrade it.. the risk is the same except then they get an annual fee! So weird, but I would never apply for a card with them again, because I wasted this inquiry so I wont chance another. So unless it was an offered upgrade with no credit check, I am just going to have to go with out.














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Message 4 of 12
Moderator

Re: I just dont get Cap One


@TwilightSymphonie wrote:

I applied for the Savor just to see, and yea denied. No one can tell me why other than I meet the basic qualifications. Its one of my more aged cards but honestly at this point, i am thinking of just paying it off and closing it. This experience has left a bad taste in my mouth with them as a company and clearly they dont want my business. It makes no logical sense why not to upgrade it.. the risk is the same except then they get an annual fee! So weird, but I would never apply for a card with them again, because I wasted this inquiry so I wont chance another. So unless it was an offered upgrade with no credit check, I am just going to have to go with out.


Again, this has nothing to do with your specific profile, the risk, or your account's tenure with Capital One.  The bottom line, it is not offered as a PC option to anyone.   They restricted PCs to both Savor and SavorOne a while ago - it used to be available for some accounts that were eligible.

 

So, if you applied, that's 3 HPs, unfortunately.  But, just like anything else, you have options and find a product that's more suitable for you elsewhere.

Message 5 of 12
Regular Contributor

Re: I just dont get Cap One

Yea.. that 3 HP thing is a bummer but at least its spread across the agencies instead of all at one.

And yes they are other products, but the reason I was wanting this one is to replace my already existing QS card. If I cant do that, then there is no reason to keep Cap one around anymore except for utilization balancing. I suppose as long as its higher limit doesnt cost me other potential cards/lines/increases than it doesnt matter.. I can just SD it until they close it down. or I can charge netflix on it every month haha thats like 0.001 utilization














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Message 6 of 12
Moderator

Re: I just dont get Cap One


@TwilightSymphonie wrote:

Yea.. that 3 HP thing is a bummer but at least its spread across the agencies instead of all at one.

And yes they are other products, but the reason I was wanting this one is to replace my already existing QS card. If I cant do that, then there is no reason to keep Cap one around anymore except for utilization balancing. I suppose as long as its higher limit doesnt cost me other potential cards/lines/increases than it doesnt matter.. I can just SD it until they close it down. or I can charge netflix on it every month haha thats like 0.001 utilization


Totally undestand and sorry again about the Savor denial.

 

Personally, I would keep it in the off-chance that they decide to relax their PC policies down the road.  There's the account combination feature that has been disabled for a while in addition to the PC restrictions to Savor/SavorOne.  But, there's the intangible benefit of balancing things out with your current CL plus its long history... so giving it a few crumbs here and there to keep it active won't hurt it honestly. 

Message 7 of 12
Regular Contributor

Re: I just dont get Cap One

Thank you.

And yea I used that combining feature a few years ago to combine my HSBC card they bought to the QS. It got me out of that cards annual fee ha.

Yea I guess. Ill move my charge for netflix over to it just to keep something going on it and then SD it. Ill also set up auto payments so i wont have to worry about it though I need to load that account up with a few months worth of charges or I will forget and wonder what happened lol.














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Message 8 of 12
Established Contributor

Re: I just dont get Cap One

I'm going to take a stab at it, only a guess, white so hard to get a Savor card, for now.

 

Savor offers 4% for entertainment and dining,  Savor One 3%. Cardholders tend to try to maximize cash back, and Capital One is taking a beating. The card is probably not profitable, and they need to cut their losses. That would be my theory why they are no longer allowing any more Savor cards, at least only to some very select people who they feel might be profitable users of the card.

 

The key will be whether or not they allow more in the future. If they open it up again,  my theory is in a weaker state. If they keep them to a minimum or shut them down for good, then they cannot afford to offer it anymore and my theory is pretty solid. 

 

Worse case, they scale back the rewards. I hope not.

 

I had some earlier posts basically stating I think that rewards payouts have peaked and will be scaled back somewhat among most or even all issuers coming in 2020 and 2021. We'll see. I hope I'm wrong. 

 

 

Scores, HPs/24 mos.:
    Experian FICO Score 8 = 847, 2/24
    TransUnion = 839, 0/24
    Equifax = 839, 0/24

Cards (hover over for CL & interest rate):

Total CL: $238,000
Message 9 of 12
Regular Contributor

Re: I just dont get Cap One

Ugh that would suck but that makes sense though honestly, they should just stop allowing apps for it then.

Realistically, I wouldnt be losing out on a bunch of rewards anyway. The entertainment category is big, but about half what I can get back on CIti DC. The downside is Citi shut down a lot of MC feature sets on that card, but its not like I used them much anyway. I can make  up a lot if I got the PNC cash card really, but I want to wait I think to find out if CapOnes letter indicates a red flag that would affect other creditors from approving me, otherwise it could be a wasted inquiry.














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Message 10 of 12
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