Capital One SavorOne Cash Rewards Credit Card features include exceptional rewards for dining, entertainment and popular streaming services as well as grocery store purchases – with no annual fee and generous welcome bonuses for both.
If your leisure spending falls within these categories, this card could be an ideal fit. Its cash back rates are competitive with other leading no-annual-fee cards.
3% Cash Back on Dining
Capital One SavorOne Card gives generous cash rewards for dining and entertainment spending, earning 3% on these categories and 1% elsewhere – this card makes an excellent choice for anyone with higher than average expenses in these areas.
Other key benefits of the card include zero percent APR on balance transfers for 15 months and no annual fee – an invaluable perk if you need to move balances from other credit cards or pay off debt quickly. Plus, no foreign transaction fees means no surprise expenses when traveling!
Capital One defines dining purchases as purchases at restaurants, cafes, bars and lounges, fast food chains and “similar establishments.” Their credit card offers one of the highest returns available – at 3% – making this category one of the ideal picks for anyone who spends more on dining than average.
Capital One SavorOne cardholders can get additional bonuses through Capital One Travel (5% back), Capital One Entertainment (8% back – such as exclusive events and presale concert tickets), Uber rides/Uber Eats orders in the U.S. (10%). However, this may not be suitable if your spending habits fall outside these categories.
Note that Capital One SavorOne requires good or excellent credit and conducts a hard inquiry when applying. While this practice is standard among credit cards, if your score falls below 700 it should be taken into consideration before applying. In such a scenario steps can be taken to build it back up or alternative rewards cards may offer similar perks without significantly impacting your score.
Capital One SavorOne features an outstanding welcome offer: $200 cash back when you spend $500 within three months of opening a card – which compares favorably to many of the top no-annual-fee cash-back cards’ signup bonuses. Additional card benefits include purchase protection, travel accident insurance and extended warranty coverage.
3% Cash Back on Grocery Stores
Capital One SavorOne card holders who frequently shop can enjoy generous rewards rates with its generous rewards rates: 3% cash back at grocery stores (excluding superstores like Walmart and Target) and 1% back for all other spending, respectively. In addition, its 0% intro APR on purchases and balance transfers for 15 months provides an incentive for making larger purchases that you can pay off over time.
Dining, entertainment and groceries are some of the top spending categories among consumers, making the Capital One SavorOne card an attractive option for consumers who frequently make these types of purchases. Its unlimited top-earning category for these purchases makes this card particularly advantageous; however, those with more modest spending might benefit more from cards offering multiple bonus categories or flat rates on all spending.
An analysis of this card’s terms and conditions reveals other notable features: cardholders receive a $200 sign-up bonus after spending $500 within three months of opening an account, there’s no annual fee for either primary cardholders or authorized users, and there are no foreign transaction fees charged by this card.
Additionally, cardholders can take advantage of travel and shopping benefits provided by their card, such as travel accident insurance, concierge service and extended warranty protection. Rewards earned can be redeemed through statement credits, checks or gift cards with even the option to set a redemption trigger that automatically sends rewards back into their bank accounts when certain dollar thresholds have been reached.
Capital One SavorOne may be ideal for foodies and entertainment enthusiasts, yet may not provide enough earning potential in other areas. At only 3% earnings on entertainment expenses it may fall behind some competing cards that offer higher rewards rates or have lower minimum spend requirements; still this card provides other perks that might appeal to anyone looking for their first credit card.
1% Cash Back on All Other Purchases
Capital One SavorOne card stands out as an impressive credit card without an annual fee, providing impressive rewards rates in key spending categories. You’ll get 3% back for dining and entertainment purchases (include grocery stores) plus 1% back on all other purchases – which compares favorably to many cards that charge annual fees; especially those who spend less in bonus categories.
This card also comes equipped with several benefits to maximize your rewards: these include a free Uber ride up to $15 every month; as well as a $200 sign-up bonus upon spending $500 within three months of opening; free Mastercard Zero Liability fraud protection and 24/7 customer service team support.
The SavorOne card utilizes the Mastercard network, making it widely accepted at nearly all establishments that accept Mastercard cards – as well as being valid in over 210 countries and territories around the globe.
To qualify, you need a good to excellent FICO score (above 670 on the FICO scoring model) and no more than five active Capital One cards at any one time. CardMatch allows you to assess whether prequalifying may help, by providing insight into your credit history that can give an indication as to whether approval might occur.
Capital One makes the application process for their cash back card easy: simply apply online or call them on 888-835-4678 with your personal and employment details to complete an application for one. If your credit score does not allow you to apply for one of their cards, other cash back cards with no annual fee might be better options.
Citi’s Double Cash Card pays 2% back on all purchases, including food and entertainment, while Wells Fargo’s no-fee Active Cash(r) Card gives you 2% in any category you choose, such as groceries, gas stations or transit. A rewards strategist may find another card which provides better rates in one or more of SavorOne card’s earning categories.
0% Intro APR on Purchases and Balance Transfers
Capital One SavorOne Cash Rewards Credit Card provides generous rewards rates and an introductory 0% APR on purchases and balance transfers, with no annual fee and no foreign transaction fees to worry about – perfect for travelers. 3% back is earned in select categories while all spending earns one percent cash back; there’s even an attractive $200 cash bonus after spending $500 in the first three months! Plus it doesn’t impose an annual fee or foreign transaction fees which could make traveling abroad easier!
Capital One Travel offers competitive no-fee rewards credit card rates with competitive cash back rewards in multiple categories – dining, entertainment and streaming services are eligible), as well as an 8% rebate through Capital One Entertainment and 5% cash back for rental car and hotel bookings with Capital One Travel. If your spending mainly falls outside these areas or rewards programs don’t interest you much then another card might better meet your needs.
This card’s 0% APR offer is highly competitive and lasts 15 months, significantly outstripping the average of zero percent intro rates on cards that do not charge annual fees. Furthermore, its balance transfer APR of 3 percent for 15 months stands out as considerably less than many competing cards charge during that same time frame.
Once that deadline passes, the card’s regular APR of 15 percent takes effect; those with outstanding credit may even qualify for a lower APR based on their individual circumstances and profile.
Cardholders can make balance transfer requests either immediately after account opening or by logging into their Capital One online account. They will need to provide the name, account number (i.e. credit card number) and payment address of the other card in order to initiate one – this process usually takes three to 14 days, according to Capital One.
As you consider whether to make a balance transfer using Capital One SavorOne, it’s essential that you remember it will result in a hard inquiry on your credit report that could result in long-term damage to your score. Furthermore, creating a repayment plan before your introductory APR ends will help avoid paying interest on transferred debt in future; Capital One offers tools like their payoff calculator as assistance for this task.
