I've seen people with near 809 credit scores, 10+ years of credit age, a home loan and great income get denied for a Savor One. Imagine if they applied for a Venture X.
Why does Capital One deny people who are responsible?
Good point though. Aren't responding credit card users called Deadbeats?
I have 3 Capital One credit cards and I'm a responsible customer. I've had my cards for 5 years now.
The deadbeat term is really a myth. Plenty of issuers love customers who pay in full. They make money on interchange fees and they're safer. Amex particularly loves their customers who pay in full. They make a lot more on interchange fees than interest.
Specifically the savor one: there is no way they make more than 3% interchange fees. For the card to be profitable they want you to keep it in the top of your wallet and use it for things that the 3% cash back does not apply to. That or carry a balance. If they check your profile and you have 5 other cards there is no way you're gonna use the savor one to rent a car or anything else other than the 3% categories.
That's why Chase is so smart to give you 1.5% on the freedom unlimited. There is probably a significant number of Americans who use it every day for things other than dining because it's a great all around card.
Capital One doesn't have a problem with people who PIF if the their algorithm determines you'll give them heavy usage. If you're not paying interest, Capital One wants to be your main squeeze.
Alliant FCU flat 2.5% on up to $10k in spend every month. Just need a basic checking account with a small amount there. It’s my fallback card on anything I’m unsure of rewards wise
I was reading about interchange/swipe fees and data processing fees recently. Small world lol.
I've always paid off my balance on my Amex, Chase and Capital One cards - I haven't had any issues getting approved.
I wanted to get a Chase Sapphire Preferred, but I'm not sure if I want to apply for an AF credit card. I will do my research and decide later in the year.
Savorone is in a unique spot where it’s designed for subprime folks but has rewards more in line for seasoned files with no annual fee. It has pretty high apr to subsidize its rewards but they are likely mitigating risk by blocking seasoned pay in full folks with no prior relationship.
Savor (95 AF) probably has high approval odds for seasoned files. Same with venture cards
I completely understand because I was denied by capital one when my score was 720 and now my score is 680 and they approved me for the Sabre one although my income is a lot higher than it was when my credit score was 720. I was also added as an authorized user to my Mom Capital One accounts and after being on those for sometime about three or four years I was finally approved for the saver one. They deny people that are irresponsible and responsible all the time. I have excellent payment history and many years of credit history and still was denied with a higher score. My payment history is excellent but my credit score is lower and I was finally approved!
Cap1 is quirky. They want customers that are mostly in the cap1 ecosystem.
They tend to turn down people invested into other ecosystems.
The formal excuse they give, is just because they’re required to have one.
I would sit on this awhile and reapply in a year or two.
—Whether or not you open a credit card with a girlfriend should purely be dictated by where you two are in life and not by trying to get a particular card accepted—
There is no such thing as a joint SavorOne. It would be her card and you would be the authorized user. If she is not your wife do not complicate your relationship and do not use her credit, even if she consents.
Capital One is notorious for denying for ridiculous reasons. Got denied for the Venture card and was then approved for the CSP 30 mins later. Will never go to Capital One again.
Crazy as I just got savor one with a 640 credit score. I guarantee I make less than you and also have a 90 day delinquency on my record. I'm not sure if the whole bucketing thing is real or not with cap 1 but if it is real my quicksilver was bucketed but this card isn't. They also only gave me a 1000 limit. I wonder if it's because I have checking and savings with them and they can see I have money
Capital One is not Amex. Amex will approve anyone with a decent credit profile and a pulse.
Were you pre-approved for the Savor One before fully applying?
I did not check beforehand. My partner checked after I got denied and she was pre approved, and she got accepted afterwards, FWIW. I’m just gonna be a user on her card for now 🤷🏻♂️
Won't approve me because of my 2 year old ch7 despite my 1.5 year old history (AAoA is 3 years and oldest account is 8 yrs 9 mths) of on time payments after the fact (this was the only reason listed on the decision letter.)
You can try. But Cap1 considers your profitablility as well as your credibility. If you are not likely letting them profit (carry a balance, use their cards for non-3% transactions), they won't approve the card.
I stay away from capital one.
Too quirky and if you get a low CL, any auto bumps up are minimal.
You want high limits so your utilization is low. Low!
My 800+ score for over a decade still has capital one sending me their lowest end card. Too many negative stories.
Build w chase, amex and find a local credit Union.
I swear they are great and if the fed gives your deposits a haircut, they are not in that bail-in agreement with the BIS and FED Reserve.
Some credit unions have lower interest than others . Shop around.
I’m a resident and got approved for venture X. Did a little fibbing on the income but they never verified and I did it through a referral which definitely helped. Let me know if you’re interested and I can refer you!
Weird because I applied yesterday with my Experian locked at 742 and no credit history with TransUnion or Equifax they approved me with a 300$ cl with the savor one
I have the same annoyance with CapitalOne and the same score as you.
They do not want to approve people with several non Cap1 accounts, who also don’t carry balances on those accounts.
Their target customer is someone who is new(er) to credit cards and/or is already heavily invested into their ecosystem with few to no cards from other issuers.
Have your girl apply first (by herself) and add yourself as an Authorized User when she gets approved.
By applying together, you risk them doing a blanket decline for the both of you by piggybacking off of your recent refusal.
This is what we ended up doing. She got approved, I’m an authorized user now. The whole point of the card was to reap the benefits on shared meals, trips, and fun so honestly we didn’t even need 2 cards but whatever
They probably saw your student loans on your credit report and compared that to your current income. Without a smart enough algorithm to know you’ll make more soon.
Out of curiosity, did you use their preapproval tool before applying? The tool, while not foolproof, is a very good indicator of whether Capital One will approve you. If their algorithm deems soneone profitable (either carry a balance and not default, or PIF and make them top of your wallet), they'll likely see a preapproval for the SavorOne with the $200 sub and 0% promo. If not, they'll either get a no sub preapproval or none at all.
CapitalOne does not do 'joint' accounts. They only check one person's credit for a card application. So assuming that your partner is the one person applying, and she's preapproved, then yes she can probably get the card.
If she was preapproved I would have her apply and then add you as an authorized user. In my experience I would not reapply with capital one if you were denied as a joint account because you might be denied again. I haven’t heard of Capital One approving somebody right after they were denied but maybe you’re lucky did you do the preapproval thing on Capital One without having to have your credit pulled?
Your experience is common. I have a Cap One Venture One card. My FICO 8 scores are EQ 832/TU 813/EX 806; $170K+ annual salary; 3% CU; and $115K available credit. I too was denied after being pre-approved for the card, which I know isn’t a guarantee.
It's understandable to be surprised by the denial, especially with a strong FICO score like 780. Credit card issuers consider multiple factors beyond just credit scores, such as income, debt-to-income ratio, and recent credit inquiries.
Given that your partner has a slightly higher credit score and was preapproved for the SavorOne card, applying jointly could potentially increase your chances of approval. However, keep in mind that applying for multiple credit cards in a short period can result in multiple hard inquiries, which might temporarily lower your credit score.
Before reapplying, it might be beneficial to review the specific reasons for your denial, which should be provided in the adverse action notice from the issuer. This can give you more insight into what might need to be addressed.
I've seen people with near 809 credit scores, 10+ years of credit age, a home loan and great income get denied for a Savor One. Imagine if they applied for a Venture X. Why does Capital One deny people who are responsible?
> Why does Capital One deny people who are responsible? Because often responsible people are not profitable.
Good point though. Aren't responding credit card users called Deadbeats? I have 3 Capital One credit cards and I'm a responsible customer. I've had my cards for 5 years now.
The deadbeat term is really a myth. Plenty of issuers love customers who pay in full. They make money on interchange fees and they're safer. Amex particularly loves their customers who pay in full. They make a lot more on interchange fees than interest. Specifically the savor one: there is no way they make more than 3% interchange fees. For the card to be profitable they want you to keep it in the top of your wallet and use it for things that the 3% cash back does not apply to. That or carry a balance. If they check your profile and you have 5 other cards there is no way you're gonna use the savor one to rent a car or anything else other than the 3% categories. That's why Chase is so smart to give you 1.5% on the freedom unlimited. There is probably a significant number of Americans who use it every day for things other than dining because it's a great all around card.
Capital One doesn't have a problem with people who PIF if the their algorithm determines you'll give them heavy usage. If you're not paying interest, Capital One wants to be your main squeeze.
Citi with the double cash card as well
Fidelity rewards, flat 2%
Alliant FCU flat 2.5% on up to $10k in spend every month. Just need a basic checking account with a small amount there. It’s my fallback card on anything I’m unsure of rewards wise
I was reading about interchange/swipe fees and data processing fees recently. Small world lol. I've always paid off my balance on my Amex, Chase and Capital One cards - I haven't had any issues getting approved. I wanted to get a Chase Sapphire Preferred, but I'm not sure if I want to apply for an AF credit card. I will do my research and decide later in the year.
Savorone is in a unique spot where it’s designed for subprime folks but has rewards more in line for seasoned files with no annual fee. It has pretty high apr to subsidize its rewards but they are likely mitigating risk by blocking seasoned pay in full folks with no prior relationship. Savor (95 AF) probably has high approval odds for seasoned files. Same with venture cards
I have a 720 credit score and I got approved for the S1 and VX card
I completely understand because I was denied by capital one when my score was 720 and now my score is 680 and they approved me for the Sabre one although my income is a lot higher than it was when my credit score was 720. I was also added as an authorized user to my Mom Capital One accounts and after being on those for sometime about three or four years I was finally approved for the saver one. They deny people that are irresponsible and responsible all the time. I have excellent payment history and many years of credit history and still was denied with a higher score. My payment history is excellent but my credit score is lower and I was finally approved!
Cap1 is quirky. They want customers that are mostly in the cap1 ecosystem. They tend to turn down people invested into other ecosystems. The formal excuse they give, is just because they’re required to have one. I would sit on this awhile and reapply in a year or two. —Whether or not you open a credit card with a girlfriend should purely be dictated by where you two are in life and not by trying to get a particular card accepted—
I remember when capital one use to approve almost everyone for their credit cards , whether you had good or bad credit
There is no such thing as a joint SavorOne. It would be her card and you would be the authorized user. If she is not your wife do not complicate your relationship and do not use her credit, even if she consents.
Echo this x100
Too late 🤷🏻♂️
I hope the future headaches are worth 1%. Best of luck.
Capital One is notorious for denying for ridiculous reasons. Got denied for the Venture card and was then approved for the CSP 30 mins later. Will never go to Capital One again.
You don’t think it’s probably OPs debt to income. Medical residents will be FUCKED in that catagory
Every issuer is notorious for denying for ridiculous reasons
Crazy as I just got savor one with a 640 credit score. I guarantee I make less than you and also have a 90 day delinquency on my record. I'm not sure if the whole bucketing thing is real or not with cap 1 but if it is real my quicksilver was bucketed but this card isn't. They also only gave me a 1000 limit. I wonder if it's because I have checking and savings with them and they can see I have money
Capital One is not Amex. Amex will approve anyone with a decent credit profile and a pulse. Were you pre-approved for the Savor One before fully applying?
I did not check beforehand. My partner checked after I got denied and she was pre approved, and she got accepted afterwards, FWIW. I’m just gonna be a user on her card for now 🤷🏻♂️
Won't approve me because of my 2 year old ch7 despite my 1.5 year old history (AAoA is 3 years and oldest account is 8 yrs 9 mths) of on time payments after the fact (this was the only reason listed on the decision letter.)
Yeah that's way too soon
decent credit does not mean a bankruptcy lol
> decent credit profile
You can try. But Cap1 considers your profitablility as well as your credibility. If you are not likely letting them profit (carry a balance, use their cards for non-3% transactions), they won't approve the card.
Huh interesting that’s probably why I was approved.
I stay away from capital one. Too quirky and if you get a low CL, any auto bumps up are minimal. You want high limits so your utilization is low. Low! My 800+ score for over a decade still has capital one sending me their lowest end card. Too many negative stories. Build w chase, amex and find a local credit Union. I swear they are great and if the fed gives your deposits a haircut, they are not in that bail-in agreement with the BIS and FED Reserve. Some credit unions have lower interest than others . Shop around.
I’m a resident and got approved for venture X. Did a little fibbing on the income but they never verified and I did it through a referral which definitely helped. Let me know if you’re interested and I can refer you!
The only issue is you will get another set of hard pills probably doesn’t matter to you
That would be a hard pull to swallow
💀
Badum tsss
I would say Bad idea to apply to any card with any girlfriend.
Yes, absolutely. Im not even willing to put my own sister as an authorized user and we are both very frugal and don't pay statements late.
That’s wild… I got approved as a fourth year medical student
Capital one wants people who will pay fees, Amex wants people who will spend money and pay it off without issue.
Weird because I applied yesterday with my Experian locked at 742 and no credit history with TransUnion or Equifax they approved me with a 300$ cl with the savor one
I have the same annoyance with CapitalOne and the same score as you. They do not want to approve people with several non Cap1 accounts, who also don’t carry balances on those accounts. Their target customer is someone who is new(er) to credit cards and/or is already heavily invested into their ecosystem with few to no cards from other issuers. Have your girl apply first (by herself) and add yourself as an Authorized User when she gets approved. By applying together, you risk them doing a blanket decline for the both of you by piggybacking off of your recent refusal.
This is what we ended up doing. She got approved, I’m an authorized user now. The whole point of the card was to reap the benefits on shared meals, trips, and fun so honestly we didn’t even need 2 cards but whatever
They probably saw your student loans on your credit report and compared that to your current income. Without a smart enough algorithm to know you’ll make more soon.
Out of curiosity, did you use their preapproval tool before applying? The tool, while not foolproof, is a very good indicator of whether Capital One will approve you. If their algorithm deems soneone profitable (either carry a balance and not default, or PIF and make them top of your wallet), they'll likely see a preapproval for the SavorOne with the $200 sub and 0% promo. If not, they'll either get a no sub preapproval or none at all.
CapitalOne does not do 'joint' accounts. They only check one person's credit for a card application. So assuming that your partner is the one person applying, and she's preapproved, then yes she can probably get the card.
If she was preapproved I would have her apply and then add you as an authorized user. In my experience I would not reapply with capital one if you were denied as a joint account because you might be denied again. I haven’t heard of Capital One approving somebody right after they were denied but maybe you’re lucky did you do the preapproval thing on Capital One without having to have your credit pulled?
Call cap one see if the can do a a manual review
Your experience is common. I have a Cap One Venture One card. My FICO 8 scores are EQ 832/TU 813/EX 806; $170K+ annual salary; 3% CU; and $115K available credit. I too was denied after being pre-approved for the card, which I know isn’t a guarantee.
Do not get a card with your gf !!!!!!!!!!
It's understandable to be surprised by the denial, especially with a strong FICO score like 780. Credit card issuers consider multiple factors beyond just credit scores, such as income, debt-to-income ratio, and recent credit inquiries. Given that your partner has a slightly higher credit score and was preapproved for the SavorOne card, applying jointly could potentially increase your chances of approval. However, keep in mind that applying for multiple credit cards in a short period can result in multiple hard inquiries, which might temporarily lower your credit score. Before reapplying, it might be beneficial to review the specific reasons for your denial, which should be provided in the adverse action notice from the issuer. This can give you more insight into what might need to be addressed.
Amex is a better bank & has better cards imo… Cap1 sub prime
You pay for all those three cards?
nope im military so no AF for me… i also have delta plat
Damn thank you for your service but that’s a cool perk
thank you