WHY I CLOSED My $30K Capital One Savor Credit Card
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- Опубликовано: 30 сен 2024
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I made it to the end, it was worth it for the entertainment alone.😂
Goodbye ✌🏾 Capital One.... that’s an interesting point about having too much available credit and what other lenders may think of it. How much is too much though?
Good question!
Hard to say, but I do believe I have gotten lower credit lines at times because of having so much other available credit.
Capital one has never approved me for any of their credit cards🙃. I hate how they do a hard pull on all 3 credit reports.
30 G's just like that! What happened man? Are you feeling ok?
Well it's not like they were giving me $30K for free. I'd still have to pay it back 😃
No offense, but why should you get special treatment? You knew there was an annual fee when you filled out the application.
There’s a reason his name is PROUDmoney lol
I agree. These entitled RUclipsrs think they should get everything for free.
It's a slap in the face some people will never get a 30k limit
💯🎯💯💯🎯
Why didn't you just get the Savor One card that has no annual fee and gives you 3% back??? Makes zero sense why you'd get a card with a huge credit limit and dispute a measly $95 yearly fee which adds up to about $8 a month. So you have one less Starbucks drink a month.
They improved the SavorOne after i already had the regular Savor.
He's just milking the RUclips mins
I'm here in July 2024 where Cap One announced that they're no longer accepting applications for this card 🙋♂
Something tells me you wouldn't be hurt if you burned a bridge with them. Many better options out there.
Also, nice Sopranos ending there
If your applying for a capital one card and they ask if your going to hold a balance.....always say yes....😆....get approved everytime
*you’re
Honestly, the only lender I care about keeping a healthy relationship with is AMEX. Don’t want to burn that bridge. And MAYBE Chase, but even they’re not remotely as appealing as AMEX. Everyone else I could honestly care less.
What’s so special about Amex?
@@TMartins379 the name brand otherwise they suck their premium cards suck, all their cash back categories are capped off there cards have a lot of anual fees
I’ve had a capital one card for 16 years with a 10k limit. Have an 813 FICO and have a $30k per year average spend. Asked for a CLI and product change and was told no. I canceled the card because of it. I have other cards that close to the same age. So not worried about it.
Your Logic is sound sir.
Ironically i was just looking at my credit report and was thinking maybe i should cancel some of my cards that i dont really use anymore. You are right though, once you acquire over $100k in available credit, and have a good score, closing an account is no big deal.
I'm grandfathered in at $0 annual fee so no reason for me to close mine!
Grandfathered into the Savor card and a last-gen Mazda3, you are living my dream life 😫👌
I would have paid the fee!!! They hooked you up!
Me personally I don’t see the benefit for the Savor card with the annual fee just for an extra 1%
yeah the savorone is wayy better value
World class elite master card. You get approve for more money. The regular one non annual fee is just a regular master card.
@@braskabani8011 Yeah but most credit cards from mastercard are world/worldelite already
Savor one is so much better
Depends on the person or family, if you spend over $9,500 a year on dining, entertainment (like movie theaters, arcades, bowling alleys, concert tickets, sports tickets, etc. etc.), and streaming (RUclipsTv included). The card is worth it.
He had some extra Karma points and decided to call Capital One's bluff. They really didn't think he'd cancel a credit card with a 30k limit over a $95 fee... then post a video about it. Kudos to you!
The absolute flex of saying he has a long enough credit history that he doesn't care about closing his account
Okay I'm going to watch this to see why you did not just downgrade to the SavorOne.
Okay, I understand.
I never really liked cap 1. There are to many other great cards out there.
Capital One has its place for sure. Not the very best cards, but pretty good cards and an openness to people whose scores are not super high.
TOO* many
I have the Savor card and love it. Hard to beat the 4% categories that fits my lifestyle perfectly
I have a Quicksilver MC and a Cabela's (Capital One) MC. Recently they've been telling me I'm pre-approved for the Savor One (3% back instead of 4, but no annual fee). That's a card I wouldn't mind carrying, but I have to cool it after a recent app spree and the car I'm about to finance. Next two cards need to be Chase, since I'm at 3/24. After that . . . I hope they send me these offers next year.
did you ever notice how much your credit score went down by closing your Savor account?
He’s not answering you
Only credit channel that I've watched that gives true, accurate, and legal information. Keep up the good work!
Hey, I appreciate the good words, thanks so much! 🙏
I got grandfathered in with no annual fee. Or else I'd be doing the same as you.
lucky!
Same!
I got grandfathered on too. Yeah. I wouldn't be with it, paying $95 a year.
my friend you are missing a good one. US Bank Altitude Go. 4% back on restaurants and no annual fee. hands down
Yes but I'm guessing he doesn't have it for the same reason I don't.... I'm at LOL/24 and too many inquiries for a US Bank approval 😂
Already been turned down, made a video at the time expressing my annoyance!
@@ProudMoney yes I remember, that was a non sense decision from us bank. I have that card and I bet you have better credit than me.
Ran out of ideas?
correct
I still have mine ☺ it's no annual fee so I'm going to keep it.
No argument from me. An extra 1% on dining doesn't make sense for most of us if it costs $95. If they want to charge that, they need to look at the Propel card and beat their 5 different 3% catagories.
They have been very frustrating over the years and I only have them for the rare overseas transaction.
Cap One has been trash for a while now sadly, i’m wondering if it’s due to the pandemic...
Nope, they've pandered to borderline sub-prime credit users since their beginning
Guess you reopened now? Card is dope with the update
Why not downgrade to SavorOne and keep the account history, credit line and no annual fee?
Either you're being silly or you didn't watch the whole video ...
@@DugrozReports I watched the full video. There wasn't anything I saw other than unnecessary banter at the end to make the video longer.
I am lucky, As an OG card holder they waved the fee because I never had one when they upgraded the card. I also still have the OG plastic card.
I understand why you closed the account but if i was in your shoes i would have downgraded to savor 1 and then asked for a credit reduction of 25k . You seem to be a person that pays off your balance monthly so 5k limit would have been decent for dinning while getting 3% off for free. Also not risking burning that bridge. But hey one less account to manage i understand. Have a good day bud stay safe 👍.
I stuck around because your content is awesome
you're awesomer 🙏🙏
Good for you for standing your ground. You have options when you have good credit with a longer history. Great story. 👏🏽
i closed my savor as well. THey wouldnt even let me downgrade to the savor one..ridiculous
$30k card for $95 a year?. I wish I had that type of deal....
Yeah. $30k would be the only card I need.
That’s actually a Great Deal. Do u know how many Banks 🏦that will give you a loan or mortgage based off that credit limit.
Maaaaaan
I got $30k on my savor one with no anual fee
Yea but aren’t you supposed to only use $3000 on a 30k card?
Sooo...we got the savior card in the first month it came out. 4% and no fee...never getting rid of the card 😂
I have Capital One but honestly wish I didn't have them. I had them like 3 years ago and they gave me a $10K card...I kept it for a little over a year and then I closed it out. I now have a Quicksilver card that I applied for 5 months ago with the same credit score and utilization and they only gave me $3500 with all on time payments. I feel like I was dropped into a bucket. I talked to them and said I just had a $10K card with you guys a couple years prior...nothing has changed I have a 20% credit utilization and I reapply for another card and get such a low limit? I believe inflation has a lot to do with many low limits these days.
why is inflation affecting credit limits?
Maybe it's your utilization. I have a 1-3% utilization and they gave me a 10k quicksilver and a 20k venture x card. I applied 1 year apart and barely got the venture x a month ago.
that ending 🤣🤣🤣🤣👍
capital one doesn't deserve you. lol!
I am getting rid of my capital one also if they don’t wave my annual fee .. they can kick rocks
i thought you were going to say you closed it because CO suspends your account too much...i can't be the only one they do that to...about once every 2 months they restrict my cc's for no reason at all...very annoying.
I spend about $1k on dining a month. It’s kinda crazy. Lol glad you got a lot of value these two years.
8:33 ohhh youuu!!! 😝
The end to this video was epic 🙌🏾
Capital one has me with $1200 credit line and My fico score is high ...I will close mine around October 2023...I have better cards than this....
Capital one only gave me 1,600 in the pass 3yrs 😔
Not all of their cards are generous, my first card with them is still at 750
My 2nd card with them just got a 3000 CLI last month so it is what is
I've only ever had the Capital One Spark. After 9 years of business spend, I'm sure I'm in good standing. Not much else of theirs out there that interests me.
Wow RUclips is crazy with the 8 min rule
Yeah it does create an incentive to make longer videos, though that is usually not a problem for me because i like to talk! 😃
Think it used to be either 10 or 15 mins so 8 isn’t too bad
Great ending; I had to let the ads play. Anyone comments like and sub!!
I need to beg viewers to watch the ads more often 😃
Hahaah I didn't know i gotta stick around for you to get paid ill make sure ill stay on till the end from now on buddy good info always I know you gotta get paid for your time
"I do like to eat out. But I do not like to eat out $10,000 dollars worth"...😏
Gotta respect the Adsense hustle. Here’s a related question: do you still get paid if someone uses your referral link to apply for a card, but has to call recon to get approved? I hope so, brother.
no idea, probably not, but i appreciate the thought.
@@ProudMoney probably not?! No way... there's no language in referral offers that says the approval must be instantaneous. Oh ye of little faith!!!
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We understand. Thank you.
You typical Ken’s/Karen’s/ always feeling entitled too everything. Smh!
Well Adam, I would kill for a 30K limit credit card. As much I'd like to condone your behavior, you came off like a spoiled brat with this one. You are entitled to do what you want with your credit though. Hope it made sense in the long run for you.
Capital one won’t even waive a bogus cash advance fee for me😅
Say what you will. He is a man of his word 😂.
I agree with you I am I think that that was crazy that they said OK I would think capital one knowing how good your credit is in your credit history is current they’re not dumb they know they look at that I would think they would’ve offered you the 3% venture one card were you had to pay no annual fee just to keep you as a customer but I guess that representative that you talk to didn’t give a shit because I’m a tell you right now bro I only got $500 of credit limit on my quicksilver and when I called to cancel the representative was like no please do you spend a lot of money here we don’t want you to cancel your card and I’ll probably spend around the same time the same amount of money you spent I probably spent like around I don’t know 3 to 5 grand last year in 2020 and she did not want me to cancel for nothing in the world So they moved me from the annual fee I think I had the capital one quicksilver one to the capital one quicksilver without an annual fee she didn’t say well you know what we don’t care and then suggest anything else she suggested that I could get the upgrade it to the arm to the quicksilver one with no annual fee so it’s crazy to me that somebody like you that has great credit excellent credit would get that kind of treatment from capital one I’m in shock
Capital one wrote off $1000.00 scam for me ......Great card
Could you just downgraded the one to the Savor card that has no annual fee? Edit: Oh, you just addressed that in the video. 😁
Ha ha! Way ahead of you! 😃😃
What about downgrading and lowering the credit limit to 2k? Does lowering a credit limit burn bridges with company’s?
Lowering the credit line and downgrading would be ok. i just did not want to have that credit line open if i was not going to use it. In a way, i did Capital One a favor.... they can allocate that $30k to others who might be more profitable than I was.
Proud 💰 when u are a credit dom, guess you can close a card with a $30,000 credit limit 💯. But I understand what you are saying. The savor credit card would be the next card I thought about 👆 grading from my quick silver. But after reading the reviews on the cc even without the $95 annual fee. Chase flex, is still the better card 2 go with in my opinion 💯. There is a right time 2 do anything I suppose ✔
There are a lot of things that went through my kind but in the END
It doesn't even matter
That ending tho 😂
I almost fainted at closed , okay let me watch the whole video
You really clicked on a video only to immediately jump to the comment section huh
@@jollama you literally can comment and watch at the same time. Oh wait let me not speak for you. I literally can comment and watch at the same time...I also can mind my own business 😒
At the end...I want to know what you did ????😂😂
is there a cliffhanger emoji?
🧗♂️
Great ending. Thanks!
Savor is a great card but you have to put a decent amount of spend on it for the AF to be worth it. My biggest annoyance with it is actually the lack of reliability on the entertainment category, which makes the AF of $95 feel a little too high - $59 would feel a lot better for a card you intend to hold long term. You're still wrong about the Venture though, heheh (it's a much more solid card than your review indicates), and you can convert that cash to venture miles.
Sweet churn bro!
Tell u what...stick your three game set from your last bowling league night on the end, and I’ll stay till the end and run your vid on repeat overnite as I sleep LOL. BTW - absolutely with you on dropping the card. I barely have one year of history on my credit report, and I will not hesitate to drop my secured CC with no annual fee and no rewards. For me, attachment to credit scores distort sound credit decision making.
Ur the best man
Very good points you make. Too many people become terrified to close a card.
I found a credit card with a company called US alliance financial. Is this a federal agency like navy federal
I got approved for the QS1 $500 limit. 3 months later they said I was approved for the savor one with an 2k limit. I hope that I'm not bucketed
The QS1 card is probably bucketed, but the SavorOne probably isn’t.
@@Tristin471 I think you're right cause when it was time for an increase they only increased it $300
@@BigGritter210 I have a Quicksilver card. When I got it in March, it had a limit of $300, and two months later, it got bumped up to $400. Here soon, I hope to get a better increase. It’s not a QS1, just a regular QS.
Honestly, some call center agents do not care if you threaten to close your account. 😂😂😂 Theyre still getting paid and there is one less person calling for help.😂
Adam,
Why didn't you just downgrade it and tell them that you wanted a lower limit the savor one card is a good card at no annual fee? Just curious you never really explained why you didn't downgrade it?
I didn't want the credit line open, simple as that. i wasn't going to use it and it was not going to hurt me to close it. To me, once your credit score and history gets to a certain level, you don't need to keep things open if you don't want them anymore.
@@ProudMoney
Adam,
Nice good advice to know I am rebuilding my credit so I need every balance I can get. Did you see the prime card from chase new bonus? Not sure if it is still active but it is pretty good. Did you see that chase is now cracking down on manufactured spend on there cards. They don't want people buying a bunch of gift cards and venmo people like friends money etc. Banks are catching on to people trying to make those spend bonuses. Love your video as always..
Closed accounts can stay on your credit reports for up to 10 years. Closing an account will likely have no immediate effect on your credit score unless loss of that credit line affects your total utilization.
Exactly, or you close the account and still owe a balance.
ok so you closed the account because you wanted special treatment pretty much perpetuity always wanting them to waive the AF gtfo should have just applied for the one with no AF and is 3% so just one 1% less.
exactly!! hate people that are this entitled.
@@sidekicklx1id I wouldn't say he's entitled, in watching his vids. But I would say that is entitled behaviour....
And some restaurants jack up the bill by 3% if you pay with a credit card.
Which specific restaurant?
Was there a product change offer on your account before canceling?
I'm glad u stuck it to them they just want u to pay lots of instrest.
Nah, not trying to stick it to them, they've actually been very nice to me!
If I close a credit card 💳 after two years does it affect my credit score. The card is paid off
It depends on the average age of your other cards and credit limit afterward
New subscriber. I have 685-700 scores. I have the Cap 1 Spark and Securd platinum. 7 inquiries. Should I apply for quicksilver? Or try a different company
That's a lot of inquiries.
That’s a very risky move for banks to approve you with 7 inquiries. I would wait it out until inquiries subside and then apply for a new credit card down the road.
I got approved $3000 on the Quicksilver a week ago. I think you’re right I’m gonna wait awhile after that.
@@kenoturner5882 I would've said try to ask for the upgrade online, but nice to see it worked out for you in the end. But yeah maybe wait a bit to clear some of those up
Ask if you can graduate your card to a quicksilver
I don’t understand when you say and I’m paraphrasing, you must spend 9500 to get the annual fee covered. If I was only getting 1% back then I see. However, I only use the card solely for dining, and unless my math isn’t mathing, I only have to spend about $2,500 to cover the fee. I eat out a lot. I visit Disneyland often as well and those churros are coded as dining so this card made sense for me. Coupled with the citi double cash for everything else. But my questions here are, why say $9500? And also they approved me for an astounding $50,000 credit line which is WILD but okay I’ll never reach that - is having a huge credit line like that bad? (I also have a $7,000 Quicksilver card with them too)
This is because the Savor gives only a 1% difference for dining, entertainment and streaming so in order for the Savor to be better than the free and reduced benefit version (SavorOne) you’d have to spend $9500 MORE in those categories to justify the $95 fee per year
Sebby did the math as well and if you travel a lot and trasfer out points at 2:1 or 3:1 value then you can reduce that to ~3100 in additional spend.
How much is too much available credit? Didn't know that was possible
You’re not getting an answer
a year later and i just fill out pre approvals every once in a while because I'm curious to know what I'd be offered, and it says no anual fee, not for the first year but theres just no anual fee overall, as well as the perks being a little lower
They have two cards "Savor One" or just "Savor" the savor one card has no annual fee at all but the savor does.
@@maurhuncho1070 yeah, right after I watched the video I looked into it (of course after I commented and not before lol) but I saw that along with the savor one “for good credit” which is just missing the intro perks
If I were to buy a movie ticket through Fandango would that count for 3% cashback?
Yes
😂 👍🏽 glad I watched til the end! 🤣
I need to put more crazy stuff at the end of the videos to entice people to watch! 😃😃
You did burn a bridge that's why Credit One didn't approve you two times........
Credit One is not the same as Capital One.
Agreed I'm probably gonna be closing my credit one before the years up
Capital One is so much better
Thats an odd number. You don't seem to have spent all that much on the card. So what card did you normally use for groceries? because groceries are pretty expensive and you do have a family and spend on them as well or does your wife hold the family cards?
I have two credit cards and both have high balances I have credit one and capital one if I close my capital one and pay my credit one balance down to low balance will that reduce my credit utilization
Keeping the capital one open reduces your utilization since you have more credit with it open. Just try to pay them both off
Woah 😳😨!
No fee is for me.
I love your sense of humor 🙃
You could have downgraded and ask for the CL reduction. We process those all the time.
So basically this guy telling us that he is real spoiled. 30k & he canceled when other people tryna sniff 30k
I think you summarized the situation very well. 😏
@@ProudMoney 😂😩🥲 lmao
Lmao 🤣
I just subscribed good content
Thank you!
Good analysis
So what was the whole deal of closing it ??