Author Topic: Savor card - convert or close  (Read 1200 times)

Assetup

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Savor card - convert or close
« on: March 05, 2020, 03:47:09 PM »
I obviously picked this card up for the signing bonuses but it's getting close to a year and I don't want to pay the annual fee.  Should I convert that card to a Quicksilver with no fee or should I just close that cc?

I'm not sure if converting cards count as a new card on my credit or if there is any negative impact from converting.  Obviously closing it reduces my overall available credit.

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Duchess of Stratosphear

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Re: Savor card - convert or close
« Reply #1 on: March 06, 2020, 01:08:04 PM »
Ask them to waive the fee for the second year?

Morning Glory

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Re: Savor card - convert or close
« Reply #2 on: March 06, 2020, 07:55:27 PM »
My husband closed his with no negative impact to his score.

hops

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Re: Savor card - convert or close
« Reply #3 on: March 06, 2020, 08:04:41 PM »
My wife called in January asking to convert to another product. They asked why and she said the fee was too high. The rep told her they weren't currently offering Savor conversions (no idea if that's actually true) but they'd be happy to waive the fee.

MoneyTree

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Re: Savor card - convert or close
« Reply #4 on: March 06, 2020, 09:51:25 PM »
They will product change to either a quicksilver or a venture one card. But depending on your account (long time customer, on time payments, etc) they may also waive the fee. I was able to get mine waived, but they will only check your account for eligibility to waive the fee after it gets assessed (they apply a credit to the account).

Its up to you, but if I were you I would not do a product change because the quicksilver also has a signup bonus, and you would not be eligible for it doing a product change. Might as well cancel your Savor Card, then sign up for a quicksilver. You end up in the same place, only one signup bonus richer.

Askel

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Re: Savor card - convert or close
« Reply #5 on: March 07, 2020, 04:31:14 PM »
I canceled mine. I was expecting a hard sell to continue with no fee or convert to something, but just a "Sorry to hear that sir, we'll go ahead and close that for you."

No dings on the credit that I can tell since it was only open for just under a year. 

Ended up getting the Capital One Walmart card a month later. No sign up bonus, but that 5% back at walmart sure is nice. 

Assetup

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Re: Savor card - convert or close
« Reply #6 on: March 08, 2020, 06:14:44 PM »
Thanks everyone.  I'll call to see if they'll wave a second year of fees and if not it'll get cancelled!

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