Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- High Cash Back Rate
- Sign Up Bonus
- High APR
- Redemption Limits
On Capital One’s Secure Website
Rewards Plan
Sign up Bonus
0% Intro
PROS
- High Cash Back Rate
- Sign Up Bonus
CONS
- High APR
- Redemption Limits
APR
19.24% - 29.24% variable
Annual Fee
$0
Balance Transfer Fee
3%
Credit Requirements
Good – Excellent
The Capital One SavorOne Cash Rewards Credit Card is a no annual fee card and will help you earn cash back rewards on everyday activities. You can earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases..
Also, you are eligible for 15 months on purchases and balance transfers to help you pay down an existing balance you may have or pay off new purchases slowly (19.24% - 29.24% variable after that), as well as a $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening.
On the negative side, this card requires excellent credit score and lacks any kind of travel rewards.
- Sign Up Bonus
- 0% Intro APR
- Cash Back Rewards
- No Annual Fee
- Approval Can Be Strict
- Redemption Limit
- Balance Transfer Fee
- High APR
Can I get car rental insurance with SavorOne Card?
Yes, once you refuse the insurance offered by the rental company you will automatically get coverage if you fund the entire purchase through this card.
Is there a limit to cash-back rewards on the Capital One SavorOne Card?
There is no sort of limit in place as to how many rewards you are able to get when using the Capital One SavorOne card to make purchases.
Does SavorOne Card ask for proof of income?
There will usually be no out and out request for proof of income and no transparent income requirements when applying for a Capital One SavorOne Card
What purchases don't earn cash back with the SavorOne Card?
All purchases will earn you cashback when you are using the Capital One SavorOne Card to pay for them. Therefore, there are no excluded categories.
Should You Move to SavorOne Card?
If you want access to a good range of rewards without any annual fee then the Capital One SavorOne Card could be the ideal card for you.
In This Review..
Benefits
- Sign Up Bonus
Receive a $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening. This bonus can be redeemed as cash back, statement credit, gift cards, and other reward options Capital One offers.
- 0% Intro APR
If you are looking to save money on interest, the Capital One SavorOne Card offers a 0% introductory rate for 15 months on balance transfers. After that the APR will be 19.24% – 29.24% variable.
There are cards that offer longer time frames, but Capital One SavorOne Card is one of the longer introductory rates in the market.
- Cash Back Rewards
The main perk of this cash back credit card is the ability to earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases..
This is a great option for those who like to spend money out frequently or travelers who spend money on entertainment activities and restaurants while on vacation. One feature you’ll enjoy about the Capital One SavorOne card is there are no rotating rewards categories.
- No Annual Fee
If you want to use the Capital One SavorOne card only for dining and entertainment, and use another credit card for another spending, you can.
There is no annual fee so don’t stress about times you’re not using the credit card.
Drawbacks
Now, let’s review the things you should be aware of when choosing Capital One Savor Reward Card
- Approval Can Be Strict
If you already have Capital One credit cards or you plan on getting multiple different cards from them then this drawback applies to you. You’re only allowed two credit cards at a time from Capital One so getting approved for a third could be challenging.
They also like to see at least 6 months between opening a new Capital One card from the previous so keep this in mind if you’re trying to open multiple Capital One cards within a short time frame.
- Redemption Limit
Cash back rewards aren’t redeemable for merchandise or airline travel.
- Balance Transfer Fee
While you do get a generous introductory rate on balance transfers, it comes at a cost of a 3% transfer fee. This can add up if you have a large balance you are transferring over.
- High APR
With the Capital One SavorOne card, expect to pay a higher than average APR even with good credit. The advertised range is 19.24% – 29.24% variable so depending on your credit you may fall higher or lower on the rate range.
Rewards Simulation: How Much You Can Earn?
The best way to see if the SavorOne Card is the right choice for your needs, is to calculate the amount of rewards and benefits you suppose to earn.
Keep in mind that this is a general breakdown of expenses, so make sure to adjust it to your own consumer preferences and spending habits.
| |
|---|---|
Spend Per Category | Capital One SavorOne |
$15,000 – U.S Supermarkets | $450 |
$5,000 – Restaurants | $150 |
$4,000 – Hotels | $40 |
$3,000 – Airline
| $30 |
$4,000 – Gas | $40 |
Estimated Annual Value | $710 |
How to Redeem Your Rewards?
The SavorOne card offers earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases..
If you would like to redeem your rewards, Capital One offers various ways to redeem your card rewards. These include:
- Cash: You can request a check or apply your rewards as statement credit for the highest cash back redemption.
- Coverage for recent purchases. You can apply your rewards to directly cover one of your recent purchases.
- Gift cards: Like Discover, Capital One also has a selection of gift card options that you can use at popular retailers.
- Amazon and PayPal purchases: You can use your rewards for purchases at Amazon.com or link your card to your PayPal account to pay for purchases.
Make The Most of Your Card
Capital one Savor card is a decent option if you have good credit. Consider the following when it comes to maximizing your- :
Use the Signup Bonus: You can earn $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening.
- Leverage 0% Intro APR: not every card offers a generous 0% intro as the SavorOne does. Use it smartly – whether paying off your debt or any large purchase you planned.
Focus on the Premium Rates: The high cashback you get on the likes of dining and entertainment should be taken advantage of as a lot of other cards will have lower rates in place.
How To Apply For Capital One SavorOne Rewards Card?
- 1.
Visit the Capital One SavorOne Rewards home page, and click on “Apply now”.
- 2.
This takes you to the next page, where you can fill in your “Personal Information” such as your Names, date of birth etc.
Next is your contact and financial information.
- 3.
Lastly, ensure you read through the important disclosure page to know your eligibility, fees, costs, rates, etc.
- 4.
Then click on “continue” to complete the process..
Is the Capital One SavorOne Rewards Card Right for You?
If you enjoy the nightlife and getting out to have some fun, then this could be a great credit card option for you.
Earning high cash back rewards on dining out and entertainment with no annual fee can be a great way to put extra money back into your pocket doing things you already enjoy doing each week.
It also offers the generous 15 months on purchases and balance transfersto help you pay down an existing balance you may have or pay off new purchases slowly, interest-free.
Compare The Alternatives
Let’s also review some other high cash back rewards credit cards so you can make a comparison to determine if the Capital One SavorOne card is for you or not.
|
|
| |
|---|---|---|---|
American Express EveryDay® Card | Chase Freedom Flex℠ Card | Citi® Double Cash Card | |
Annual Fee | $0
. See Fees & Rates
| $0
| $0
|
Rewards |
1X – 2X
2X at U.S. supermarkets (up to $6,000 each year), then 1x on all purchases
|
1-5%
5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases
|
2% (1% when purchase and another 1% upon payment)
2% cash back rewards rate – 1% every time you swipe and another 1% upon payment.
|
Welcome bonus |
10,000 points
10,000 points after you spend $1,000 in purchases on your new card within the first 3 months
|
$200
$200 bonus after you spend $500 on purchases in the first 3 months from account opening
|
None
None
|
Foreign Transaction Fee | 2.7%
| 3%
| 3%
|
Purchase APR | 17.49% – 28.49% variable
| 19.49% – 28.24% variable
| 18.49% – 28.49% (Variable)
|
FAQ
There is no sort of limit in place as to how many rewards you are able to get when using the Capital One SavorOne card to make purchases.
Yes, pre-approval is possible with the Capital One SavorOne Card. A simple form needs to be filled out and you do not have to submit to a hard credit check.
You can get the cash back rewards sent to you in the form of a check, as a statement credit, or get them given to you through gift cards.
You might not have met all of the requirements. You can enquire as to where your application fell short. If you cannot proceed, you can look at some of the other available options.
If you can get better cashback rates elsewhere in equally as a cost-effective manner then there may be other options than the Capital One SavorOne Card to check out.
Review Cash Back Credit Cards
Wells Fargo Active Cash
American Express Blue Cash Preferred
American Express Everyday
Bank of America Cash Rewards
Capital One Quicksilver
Capital One QuicksilverOne Cash Rewards
Capital One Savor Rewards
Capital One SavorOne Rewards
Chase Freedom Flex
Chase Freedom Unlimited
Citi Double Cash
U.S. Bank Altitude Go
U.S. Bank Cash+ Visa Signature
SoFi Card
TD Cash Card
Alliant Cash Back Visa Signature
Review Capital One Credit Cards
Capital One Journey Student
Capital One Quicksilver
Capital One Platinum
Capital One QuicksilverOne Cash Rewards
Capital One Savor Rewards
Capital One Secured Mastercard
Capital One SavorOne Rewards
Capital One Venture Rewards
Capital One Walmart
Capital One Venture X Rewards
