The Capital One SavorOne Cash Rewards Credit Card is an exceptional choice for individuals who love dining out, enjoying entertainment, and earning cash back on their everyday purchases. This card offers robust rewards, attractive sign-up bonuses, and no annual fee, making it an ideal option for middle-class consumers. In this article, we’ll explore the details of the Capital One SavorOne Cash Rewards Credit Card, its target audience, key advantages, interest rates, and other essential information for potential cardholders.
Who is the Capital One SavorOne Cash Rewards Credit Card For?
The Capital One SavorOne Cash Rewards Credit Card is primarily targeted at:
- Foodies who frequently dine out at restaurants.
- Entertainment enthusiasts who spend on movies, concerts, and events.
- Families who want to earn rewards on grocery store purchases.
- Individuals seeking a no-annual-fee card with competitive cash back rates.
Key Advantages of the Capital One SavorOne Cash Rewards Credit Card
Generous Cash Back Rewards
One of the standout features of the SavorOne card is its generous cash back rewards:
- 3% cash back on dining and entertainment.
- 3% cash back at grocery stores (excluding superstores like Walmart® and Target®).
- 3% cash back on popular streaming services.
- 1% cash back on all other purchases.
These rewards make it easy for cardholders to earn cash back on their favorite activities and everyday spending.
Attractive Sign-Up Bonus
New cardholders can benefit from an attractive sign-up bonus:
- $200 cash bonus after spending $500 on purchases within the first 3 months from account opening.
No Annual Fee
The Capital One SavorOne Cash Rewards Credit Card comes with no annual fee, making it a cost-effective option for earning rewards without the burden of recurring costs.
Introductory APR Offer
Cardholders can take advantage of an introductory APR offer:
- 0% intro APR on purchases and balance transfers for the first 15 months, then a variable APR of 19.99% – 29.99%.
Flexible Redemption Options
The SavorOne card offers flexible redemption options, including:
- Statement credits.
- Gift cards.
- Checks.
- Purchases made through Amazon.com.
- PayPal.
This flexibility allows cardholders to use their rewards in the way that best suits their needs.
Interest Rates and Fees
Variable APR
The Capital One SavorOne Cash Rewards Credit Card offers a variable APR based on your creditworthiness:
- APR Range: 19.99% – 29.99%.
No Foreign Transaction Fees
There are no foreign transaction fees, making it an excellent choice for travelers.
Balance Transfer Fees
The card charges a balance transfer fee of 3% of the amount of each transfer that is completed within the first 15 months, then 19.99% – 29.99% variable APR after the promotional period.
Additional Features
Secure and Convenient Payments
The Capital One SavorOne Cash Rewards Credit Card offers contactless payment options and is compatible with mobile payment platforms such as Apple Pay, Google Pay, and Samsung Pay.
Enhanced Security
The card includes standard security features such as:
- Capital One’s $0 Fraud Liability if your card is lost or stolen.
- Security alerts to monitor your account for suspicious activity.
- Card lock feature to instantly lock your card if it’s misplaced.
Access to Exclusive Experiences
Cardholders get access to Capital One Entertainment, providing exclusive access to tickets for a variety of events, including concerts, sporting events, and more.
CreditWise from Capital One
All Capital One cardholders have access to CreditWise, a free credit monitoring service that allows you to track your credit score and receive alerts about changes to your credit report.
How to Apply for the Capital One SavorOne Cash Rewards Credit Card
Step-by-Step Application Process
- Visit the Capital One Website: Navigate to the Capital One SavorOne Cash Rewards Credit Card page on the Capital One website.
- Click on Apply Now: Start your application by clicking the “Apply Now” button.
- Fill Out the Application Form: Provide your personal information, including your name, address, Social Security number, and income details.
- Review and Submit: Ensure your information is accurate before submitting your application.
- Await Approval: Capital One will review your application and notify you of your approval status, usually within a few minutes.
Conclusion
The Capital One SavorOne Cash Rewards Credit Card is an excellent tool for individuals who want to maximize their cash back rewards on dining, entertainment, and grocery purchases without the burden of an annual fee. Its generous rewards structure, attractive sign-up bonus, and flexible redemption options make it a standout choice for middle-class consumers.
Key Takeaways
- Pros:
- 3% cash back on dining, entertainment, grocery stores, and popular streaming services.
- No annual fee.
- $200 sign-up bonus.
- 0% intro APR on purchases and balance transfers for 15 months.
- No foreign transaction fees.
- Flexible redemption options.
- Cons:
- Requires good to excellent credit for approval.
- Balance transfer fee of 3% for the first 15 months.
If you are looking for a rewards card that offers significant cash back on your favorite activities and everyday purchases, the Capital One SavorOne Cash Rewards Credit Card is a compelling option. Its lack of fees and robust rewards program make it an ideal choice for many consumers.
