Credit Cards Review: Capital One SavorOne

There are a lot of Americans who travel much less than before, or not all of them. If this sounds like you, then you’re probably interested in making money with your credit card, and you don’t want much to do with airline miles or hotel points. The Capital One SavorOne Rewards card gives you the opportunity to earn bonus rewards on your most common purchases and has no annual fee. And if your credit score isn’t as high as it could be, there’s even a version designed especially for your needs.

  • Welcome bonus: The standard version of this card offers a cash bonus of $ 200 after spending $ 500 on purchases within three months of opening the account. SavorOne Rewards for Good Credit does not offer a new account bonus.
  • Rewards: Earn 3% unlimited cash back on meals, entertainment, popular streaming services and groceries, plus 1% on all other purchases.
  • Annual subscription : Nothing
  • APR: 14.99% to 24.99%, for the standard card, 26.99% APR for SavorOne rewards for good credit.
  • Promotional financing offer: For the standard card, 0% APR for 15 months for new purchases and balance transfers, with a 3% balance transfer fee. There is no promotional financing offer for SavorOne Rewards for good credit.

How does this card work

This card is available in two different versions. There is the standard SavorOne Rewards card and a version called SavorOne Rewards for Good Credit. This is a rare arrangement that allows people with a wider range of credit scores to become members of the card.

With both cards, you’ll get unlimited 3% cash back on all your meal and entertainment purchases. You also get 3% cash back in grocery stores and for purchases made from popular streaming services, and 1% cash back on all other purchases.

There are only a few differences between the Standard Offer and the SavorOne Good Credit Rewards, other than the credit requirements. The standard card offer includes a $ 200 cash bonus when new applicants use the card to make $ 500 purchases within three months of opening the account. The standard version also includes 15 months of 0% APR financing on new purchases and balance transfers, with a 3% balance transfer fee. Also, the APR is 14.99% to 24.99% (depending on your creditworthiness) for the standard card, but it is 26.99% for SavorOne rewards for good credit.

Otherwise, both cards have no annual fee or overseas transaction fees. And they both offer perks like an extended warranty policy, travel accident insurance, and 24-hour travel assistance services.

Advantages

It is good that this card is available in a version for those whose credit scores are not quite considered excellent. Normally, those with only good credit are limited to using cards that offer minimal or no cash back.

And the cash back offered by these cards is very competitive for cards with no annual fee: 3% cash back is a great rate of return and is offered on some of the most popular expense categories, including food and beverage, l groceries and entertainment. In fact, Capital One has all kinds of entertainment businesses, including movie theaters, amusement parks, sports and concert halls, and bowling alleys.

There’s also a lot to like about cards that don’t have an annual fee or overseas transaction fee.

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Disadvantages

These cards only offer 1% cash back on non-bonus purchases. This is pretty standard among cash back cards, but you have to keep in mind that these cards will be best for those who spend a lot in the categories eligible for a bonus.

And like all reward credit cards, these cards have higher interest rates than similar cards that don’t offer rewards. If you aren’t avoiding interest by paying your statement balance in full, you should consider another card that has a lower interest rate and doesn’t offer rewards.

Alternatives

Capital One Enjoy. This is another card from the same family, but the Capital One Savor card offers more benefits and is paid annually. It offers a $ 300 cash bonus after new cardholders spend $ 3,000 within three months of opening the account. It also offers 4% cash back on popular food, entertainment and streaming services, 3% at grocery stores, and 1% on all other purchases. There is an annual fee of $ 95 for this card.

Hunt unlimited freedom. This card offers 5% cash back on trips booked through Chase and 3% cash back on restaurant and drugstore purchases. You also receive 1.5% cash back on all other purchases. New accounts receive 15 months of 0% APR funding on new purchases and balance transfers, with a 3% balance transfer fee. New applicants also earn a $ 200 bonus after spending $ 500 on purchases within three months of opening the account, and earn 5% cash back on gas station purchases up to $ 6,000. spent the first year. There is no annual fee for this card.

American Express Blue Cash Everyday® Card. The Blue Cash Everyday card offers 3% cash back up to $ 6,000 spent annually at US supermarkets and 2% cash back at select US department stores. You earn 1% cash back on all other purchases. New applicants receive $ 200 cash back after spending $ 2,000 within six months of opening the account. There is no annual fee for this card.

Final result

The Capital One Savor Rewards and the Savor For Good Credit Rewards both offer significant rewards for your most frequent purchases. If these rewards are what you’re looking for, all you have to do is choose the right version for your credit profile.

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