The Capital One Savor One credit card stands out as one of the top no annual fee cards on the market. Designed for those who seek substantial cash back rewards or travel benefits, this card has proven its value over the past year and a half. From dining and grocery purchases to Uber and international transactions, the Savor One card offers a variety of perks. In this review, we will delve into the details of the Capital One Savor One card and explore the benefits it provides.
Understanding the Capital One Savor One
When searching for the Capital One Savor One card online, you may come across three different Savor cards. It’s essential to distinguish between them. We are focusing on the Savor One Rewards card, which is the most popular among the three. To avoid confusion, you can also use the referral link provided to directly access the Savor One card application page.
Eligibility and Approval Criteria
Before diving into the card’s benefits, it’s crucial to understand the approval criteria. Capital One requires excellent credit for approval. This generally means:
- No bankruptcy or loan defaults
- No late payments over 60 days in the past year
- Credit history of at least three years
- Credit limit above $5,000
These are guidelines rather than strict rules. For those unsure about their eligibility, Capital One offers a pre-approval tool on their website. While pre-approval is not a guarantee, it is a positive step towards getting the card.
Key Benefits of the Capital One Savor One
One of the standout features of the Savor One card is its $0 annual fee. This means you can keep the card without worrying about any yearly charges, even if you don’t use it frequently. Additionally, you can lock the card through the Capital One website to prevent unauthorized charges.
Welcome Offer
New cardholders can take advantage of a generous welcome offer. By spending $500 within the first three months, you will receive $200 in cash back. This equates to a 40% return on your initial spending. However, it’s important to note that previous cardholders who received a bonus in the last four years are not eligible for this offer.
0% Interest Promotion
The Savor One card also offers 0% interest on purchases and balance transfers for the first 15 months. This is particularly beneficial for those looking to pay off existing credit card debt without accruing additional interest. However, a 3% balance transfer fee applies during this period, increasing to 4% after 15 months.
Uber One Membership
Until November 2024, cardholders can enjoy an Uber One membership at no additional cost. This membership provides discounted rides and Uber Eats orders. The $9.99 monthly fee is automatically reimbursed, making this a valuable perk for frequent Uber users.
Spending Categories and Cash Back Rates
The Capital One Savor One card offers impressive cash back rates across various spending categories. Let’s explore these categories in detail:
10% Cash Back at Uber and Uber Eats
Until November 2024, cardholders can earn 10% cash back on Uber and Uber Eats purchases. This is a significant benefit for those who frequently use these services.
8% Cash Back on Capital One Entertainment
Cardholders can earn 8% cash back on purchases made through Capital One Entertainment. This includes sports, music, and dining events. By exploring the options available on the Capital One website, you can maximize your cash back earnings in this category.
5% Cash Back on Travel
When booking hotels and rental cars through the Capital One Travel portal, cardholders can earn 5% cash back. While this rate is decent, it’s not exceptional, so it’s worth comparing with other travel booking options.
3% Cash Back Categories
The 3% cash back categories are where the Savor One card truly shines:
- Dining
- Entertainment
- Popular streaming services
- Grocery stores
These categories cover a wide range of everyday expenses, making it easy to accumulate cash back rewards. Dining includes restaurants, takeout, and delivery services, while entertainment encompasses a variety of activities. Popular streaming services and grocery stores further enhance the card’s value.
Additional Benefits
Beyond the cash back rewards, the Savor One card offers several other benefits:
Capital One Cafes
Cardholders can enjoy 50% off drinks at Capital One Cafes. While these cafes may not be widely available, it’s a nice perk for those who have access to one.
No Foreign Transaction Fees
Travelers will appreciate the absence of foreign transaction fees. This allows you to use the Savor One card internationally without incurring additional charges, while still earning cash back rewards.
Converting Cash Back to Miles
If you also hold a Venture card, you can convert your Savor One cash back into Capital One miles. This allows you to transfer your rewards to airline and hotel partners, maximizing their value. For example, 1 cent of cash back equals one Capital One Mile.
Who Should Consider the Capital One Savor One?
The Capital One Savor One card is suitable for a range of users:
New Credit Card Users
This card is ideal for those new to credit cards. Capital One prefers customers with fewer credit cards on their report, making it a good option for beginners.
Venture Card Holders
For those who already have a Venture card, the Savor One card complements it well. You can transfer cash back rewards to your Venture card and convert them into miles for travel.
Frequent Uber Users
With the 10% cash back on Uber and Uber Eats, this card is perfect for those who frequently use these services. The Uber One membership further enhances its value.
Travel Enthusiasts
The lack of foreign transaction fees and the ability to convert cash back to miles make this card an excellent choice for travelers.
Conclusion
In summary, the Capital One Savor One credit card offers a plethora of benefits for various types of users. With no annual fee, generous cash back rates, and additional perks like the Uber One membership and no foreign transaction fees, this card stands out as a top choice for both new and experienced credit card users. Whether you’re looking to maximize cash back rewards or convert them into travel miles, the Savor One card is a valuable addition to any wallet.
If you’re interested in applying for the Capital One Savor One card, consider using the referral link provided to support the channel. Additionally, you can explore other Capital One cards, such as the Venture X, to further enhance your rewards strategy.
Thank you for reading this review, and we hope you found it helpful in making an informed decision about the Capital One Savor One credit card.