We cannot deny the fact that credit cards have made our life easy. If you have a credit card, you do not need to worry about carrying cash. You can just grab your credit card, go out, and make all your transactions with a credit card. They also provide great rewards and cash back. If you are looking for a credit card with good rewards and cashback, then you should consider Capital One Savor One Credit Card. In this blog, we are going to give you a detailed Capital One SavorOne Card review. We will also discuss its fees, interest rate,
What is a Capital One Savor One Credit Card?
Capital One® SavorOne℠ Cash Rewards Credit Card is offered by Capital One. This is one of the best cards in the market in terms of rewards and cash back. It gives you up to 8% cash back on eligible purchases and has a 0.00% APR period of 15 months. Though you will have to pay a high APR for cash advances and balance transfers. Moreover, you get $200 as a welcome bonus and there is no annual fee on this card.
- No annual fees
- No fee on foreign transactions
- Up to 8% cashback
- 0.00% APR for the initial 15 months
- There is no limit on cashback and rewards
- $200 as the welcome bonus
- You will have zero liability in case of fraud or identity theft.
- You get travel accident insurance with this card.
- It gives you extra rewards on hotel bookings, travel, shopping, dining, etc.
- You get extra warranty protection on your purchases for free.
- Concierge service.
Now in this Capital One Savor One review, we will discuss some of the important features of this card including, fees, interest rates, rewards, and credit score.
In the starting, you will like the interest rate of this card because, for the initial 15 months, the APR is 0.00% but after that, the APR is 17.99% to 27.99% which is a bit on the higher side. This card is going to be extremely expensive for you if you use it to withdraw cash from ATM or transfer the balance. So try to make all the big purchases or balance transfers before the 0.00% APR period ends.
- Purchase APR: 17.99% to 27.99% (variable)
- Cash Advance APR: 26.49%
- Balance Transfer APR: 17.99% to 27.99% (variable)
- Introductory APR: 0.00% for the initial 15 months.
Overall, Capital One Savor One is a low-cost card because there is no annual fee and the other fees are also very reliable. While paying the fees, you would not feel like you are paying extra money for the given services. If you like to travel abroad, then this is an ideal card for you because there is no fee for foreign transactions.
- Annual Fee: $0.00
- Foreign Transaction Fee: $0.00
- Late Payment Fee: Up to $40.00
- Cash Advance Fee: 3% of the total amount or $10.00 (Whichever is higher)
- Introductory Balance Transfer Fee: 3% of the total amount for the initial 15 months.
- Regular Balance Transfer Fee: No fee after the initial 15 months.
This is one of the best things about this credit card, that you can transfer the left balance to your savings account. For the first 15 months, there is no fee on the balance transfer because of the 0.00% introductory APR offer. So if you are in debt or need to make big balance transfers, then try to do it in the initial 15 months. Because after that, the balance transfer fee will be high.
Where other cards provide no or very limited rewards, the Capital One SavorOne Cash Rewards Credit Card provides you with tons of rewards and cashback. They provide a maximum of 8% cash back. Here is the breakdown of all the rewards and cash back you get from this card.
- 8% cash back on Entertainment purchases from CapitalOne Entertainment.
- 5% cash back on hotel bookings and rental card bookings, if done via Capital One Travel.
- 3% cash back on fuel, groceries, dining, and restaurants.
- 1% cash back on all the other eligible purchases.
Where other cards come with limited rewards, there is no limit on the Capital One Savor One rewards. You can shop as much as you want and you will always get cash back and rewards. This will only end when you apply for deactivating your credit card.
Required Credit Score and Other Qualifications
Since Capital One SavorOne is a low-cost credit card with high rewards, you need to have a good credit score to get this credit card. You can only get this credit card if your credit score is above 670. There are some other qualifications also, and even if you fail to fall under any one of the qualifications, you will not get this credit card. Here is the list of those qualifications.
- You have always paid your loan.
- You have never been through bankruptcy.
- The credit limit of your last credit card was $5,000 or more in the last 3 years.
- Also, you have paid all your medical bills, credit card bills, and loans in less than 60 days in the previous year.
If you fall under all these criteria, only then you will get this credit card.
Coming to the benefits, there are several benefits of this credit card. So let’s have a look at them one by one.
1. Capital One Entertainment
If you love entertainment, this Capital One card is a perfect choice for you. It gives you access to tickets for several sports and entertainment at cheaper rates. It also gives you early access to the keys so that you can book the tickets of your choice before anyone else.
2. Capital One Dining
Where other people stand in a long queue, this card allows you to book your table at restaurants that are famous and always full. You also get discounts and rewards on those bookings.
3. Capital One Travel
If you are a “wanderlust” person who likes to travel a lot and goes abroad frequently then you must get the Capital One SavorOne Credit Card. It gives you 5% cash back on hotel and rental car bookings if you do it from Capital One Travel. It also provides you with discounts and cashback on flight bookings.
4. Capital One Shopping
Capital One Savor One is a perfect card for all shopaholics. It gives you high rewards and cash back on all your online purchases.
Should I Get a Capital One Savor One Credit Card?
If you fall under any of the following categories, then you can definitely go for this card.
You get up to 3% cash back on streaming purchases, so if you are someone who loves to stream, you can definitely go for this card without thinking twice.
Some people just love traveling. It is their getaway from daily life. If you are someone who loves traveling then you can definitely go with this card because it provides up to 5% cash back on hotel and rental car bookings and many other discounts on flight booking.
3. Loves to Go Out for Dining
If you are a foodie who loves to go out for brunch, dinner, or just grab a coffee, you can consider going for this Savor One card. It also provides up to 3% cash back on restaurant bookings.
Some Other Capital One Cards
If you think that Capital One SavorOne is not the right card for you due to any reasons like, your credit score being low, then you can also consider the cards given below. These credit cards are also offered by Capital One.
1. Capital One Savor One Rewards for Students
Our Rating: 4.7/5
If you are a student looking for a credit card then you can consider Capital One Savor One Rewards credit card for Students. It gives you up to 8% cash back on eligible purchases. Also, the best part is, there is no annual fee or foreign transaction fee.
- No annual fee
- No foreign transaction fee
- Good rewards
- $100 welcome bonus
2. Capital One Savor Rewards
Our Rating: 4.5/5
As the name suggests, it is a reward card, so it comes with tons of rewards and cash back. But to get this credit card, you need to have an excellent credit score. It gives you up to 10% cash back on Uber Eats as well as Uber. Plus, you also get $300 as a welcome bonus.
- Zero freon foreign transactions.
- You get $300 as a welcome bonus.
- Good rewards and cash back.
We would like to give Capital One Savor One an overall rating of 4.2/5. It is an excellent card with a lot of rewards, cash back, as well as benefits. If you travel a lot then you must go for this card. It provides you with good rewards for hotel bookings, rental car bookings, as well as flight bookings. Also, there is no annual fee or foreign transaction fee. But the only issue is, you need to have a slightly above-average credit score to get this credit card.
FAQs: Frequently Asked Questions
Q1. What kind of card is Capital One SavorOne?
Capital One SavorOne is an unsecured credit card. This means that you do not need to make any security deposits in order to get this card. Generally, unsecured credit cards are only offered to people with excellent credit scores.
Q2. What is the difference between Capital One Savor and SavorOne?
To get a Capital One SavorOne credit card, you need to have a credit score of good credit score, but to get a Savor credit card, you need to have an excellent credit score. The rewards on Capital One Savor are slightly higher than Capital One Savor One.
Q3. What are the benefits of the Capital One Savor One card?
There are several benefits of this card, you get great rewards on online shopping, hotel, and car bookings, as well as flight bookings. This card comes with tons of rewards as well as cashback. Plus, there is no user liability in case of fraud or identity theft.
Q4. When do you get your rewards on a Capital One Savor One card?
Immediately after the purchase, you get the reward. Later, you can avail of the reward on your next purchase in the same category.
Q5. What are Capital One SavorOne terms for balance transfers?
Initially, for the first 15 months, there are no charges on the balance transfer, but after 15 months you will have to pay 3% of the total amount as a fee for the balance transfer.