A credit card offering unlimited earnings on basic-needs categories, at a low fee, for a good credit score — sounds too good to be true? Well, Capital One has one such card.
The Capital One SavorOne Rewards for Good Credit review highlights its usefulness in building credit and accumulating cash back.
Capital One SavorOne Rewards for Good Credit Review
The Capital One SavorOne Cash Rewards Credit Card:
- Is affordable
- Offers premium perks
- Does not require an excellent credit score
Although you do not get every feature of the SavorOne Rewards card for excellent credit here, you get everything else. Capital One’s travel, dining, and entertainment perks are available to you. Also, you are eligible for the bank’s complimentary benefits like price matching, etc.
Pros
- You earn unlimited cash back for basic bonus categories. You can earn as you buy necessities.
- You can get approved for a good credit score. It is contrary to the SavorOne Rewards card for excellent credit. You avail high-tier benefits for less score.
- You are exempt from paying some card fees, making it affordable.
Cons
- You don’t get a sign-up bonus or a 0% intro APR period. It means you do not get an initial breathing space to get accustomed to spending with this card.
- You incur a high interest in using this card. You can pile up high debt if you choose to carry a monthly statement balance.
Features and Benefits
| Features | Benefits |
|---|---|
| Fees and APR | Low fees make this card affordable |
| Rewards structure | You can handle your earnings easily because of its fixed bonus categories |
| Rewards redemption | You can redeem your rewards through multiple channels of your choice |
| Credit building | Your responsible payment behavior increases the opportunity for an upgrade |
| Card security and management | Capital One’s specialized tools help you maintain your card’s privacy. |
| Capital One Dining | You get food-centric perks with this portal |
| Capital One Entertainment | You can access special events using this portal. |
Fees and APR
When considering the Capital One SavorOne Rewards for Good Credit Card, it is important to look closely at its total cost. You don’t pay:
- Annual fee
- Foreign transaction fee
This exemption lowers the card’s yearly cost and allows you to pay off your dues comfortably. You incur a high APR of 29.99% each on:
- Purchases
- Balance transfers
- Cash advances
You also incur a fee for transfers and advances. We recommend you don’t carry a statement-to-statement balance. You can accumulate a high debt if you do. Clearing your monthly dues is the best route.
Rewards Structure
Although you don’t get a sign-up bonus, you get an opportunity to earn unlimited cash back. You get an unlimited:
- 5% back on booking hotels and rental cars through Capital One Travel.
- 3% return on grocery stores (does not include Walmart and Target)
- 3% cash back on dining (dine-in, delivery, and takeout)
- 3% back on streaming services (includes Netflix, Disney+, and Hulu)
- 3% cash return on buying tickets to movie theaters, bowling alleys, amusement parks, etc.
- 8% return on making purchases through the Capital One Entertainment platform.
- 1% on every other purchase.
Rewards Redemption
Capital One has a practical and need-based approach to reward redemption. Although the options are limited, they get you solid value. You can redeem your SavorOne rewards through the following:
- Booking flights, hotels, and rental cars
- Transferring rewards towards Capital One’s travel partners. In our opinion, you gain the best value with this choice.
- Get gift cards for gas stations, spas, wellness brands, etc.
- Statement credit or check
- Pay your card bill with these points.
- Spend rewards with Amazon or PayPal through Shop With Points.
Credit Building
We suggest you apply for this card to build credit if you want a higher Savor card sooner or later. You can increase your score by practicing these hacks:
- Your good payment behavior—like paying your bill on time every month—can positively impact your credit score.
- You can keep your balance well below the card’s credit limit to demonstrate responsible credit usage. It can contribute positively to your credit utilization ratio and eventually, your credit score.
- Keeping your card in good standing can build trustworthiness. It can also become proof of a responsible financial attitude.
Card Security and Management
The bank has stringent protocols to protect your identity. Also, it offers features to help you manage your card and finances:
- You are covered with 24/7 fraud monitoring and alerts. If your card is lost or stolen or you notice suspicious transactions, you can immediately lock your card.
- With the Capital One mobile app, you can track your spending and view your balance and available credit anywhere. You can also check your transaction history with it.
- With the card’s extended warranty policy, you can add extra protection on eligible items.
- You can receive assistance with bookings and reservations through the card’s concierge service.
- Travel with added security, knowing you have travel accident insurance when you book with Capital One Travel.
- You can access Eno with the SavorOne card. It is an assistant developed by Capital One that helps you manage your card. It sends you security alerts. Furthermore, it generates virtual card numbers when you shop online to protect your actual card number and, thus, your identity.
Capital One Dining
Besides earning generous returns on UberEats, you can also earn money from dining out. With Capital One Dining, you get:
- Access to VIP dining events
- Reservations at Michelin-star restaurants
- Get invitations to culinary events like chefs’ collaborations
- Discounts for exclusive, hand-crafted beverages curated by experts.
This Dining portal includes eateries like:
- Restaurants
- Bakeries
- Cafes
- Bars
- Fast Food chains
- Airport lounges
Capital One Entertainment
It is a portal of this bank dedicated to providing cardholders with premium entertainment opportunities.
You get tickets to invitation-only music events. VIP placeholders and meet-and-greet sessions at music events and concerts are also included. You also get on-site benefits if you book tickets through the Entertainment portal.
You can redeem your rewards to buy tickets, too. You can also access presale tickets to culinary events with this portal. Additionally, you earn an 8% cash back on making purchases through this portal. It increases your reward pool, entertaining you along the way.
Related Questions
Is It Hard to Get Approved for SavorOne?
Approval for the SavorOne card requires good to excellent credit. If your credit score aligns with this range, and you have a stable income, you stand a good chance of being approved. Remember that approval is not certified and depends on Capital One’s specific lending criteria.
What Is Better, Quicksilver or SavorOne?
Choosing between the SavorOne and Quicksilver cards comes down to your spending habits. If you frequently dine out or spend on entertainment, the SavorOne may tempt you with its reward rate on these categories. Conversely, if you prefer a simple, flat-rate reward structure for purchases, Quicksilver might be the way to go. It offers a consistent cash-back rate on every purchase.
Is SavorOne a Visa or Mastercard?
The SavorOne card is part of the Mastercard network. It means that it is widely accepted by merchants globally. It offers you flexible spending power and additional Mastercard benefits. Remember that perks like cash rewards, statement credit, and redemption options are available through your SavorOne card.
Conclusion
Capital One SavorOne Rewards for Good Credit card does not offer you an intro APR or a welcome bonus. That said, it offers you unlimited cash back on travel, dining, grocery, and entertainment categories. Finally, you pay a $0 annual and foreign transaction fees which makes this card more convenient.