Key takeaways
- The Capital One SavorOne Money Rewards Credit score Card is a good no-annual-fee card to contemplate if you wish to earn rewards on meals, journey and leisure
- This card additionally comes with a welcome bonus, an intro APR provide, no overseas transaction charges and a few journey perks
- If this card’s rewards classes don’t align together with your typical spending, it is best to contemplate one other money again card that gives completely different bonus classes or flat-rate rewards
The Capital One SavorOne Money Rewards Credit score Card is a good rewards card to have in your pockets when you’re all about meals, journey and leisure. However earlier than you apply for the Capital One SavorOne, you in all probability need to know if this card is an efficient match for you or if one of many different high money again bank cards may fit your wants higher. Beneath, we’ll check out some cases when this card may very well be value it — and never value it — for you.
When is the Capital One SavorOne value it?
When you love meals and leisure however hate annual charges
When you spend a substantial amount of cash on meals, eating, journey and leisure and, on the similar time, you don’t need to pay an annual payment, the Capital One SavorOne Money Rewards may very well be an ideal selection for you.
With this card, you’ll get 3 p.c money again on eating, basic leisure, standard streaming companies (like Netflix, Hulu and extra) and grocery retailer purchases (excluding superstores like Walmart and Goal). You’ll additionally get 5 p.c money again on accommodations and rental vehicles booked via the Capital One Journey portal, 8 p.c money again on Capital One Leisure purchases, 10 p.c money again on purchases made via Uber and Uber Eats (via Nov. 14, 2024) and 1 p.c money again on all different purchases.
The money again you possibly can earn on the above purchases is limitless, which isn’t all the time the case with different high rewards bank cards. For instance, the Blue Money On a regular basis® Card from American Categorical solely allows you to earn 3 p.c money again on the primary $6,000 spent at U.S. supermarkets per 12 months. After that restrict is met, you’ll solely earn 1 p.c money again on grocery retailer purchases.
If you need a no-annual-fee card with quite a few advantages
Along with the above incomes construction, the Capital One SavorOne Money Rewards comes with a welcome bonus of $200 after spending $500 inside three months of account opening. This welcome bonus is straightforward to attain because it requires assembly a decrease spending quantity than different rewards playing cards available on the market.
The Capital One SavorOne additionally consists of a variety of different advantages like:
- No overseas transaction charges (making this a helpful card for world vacationers)
- Journey advantages like journey accident insurance coverage, entry to the Capital One Journey portal and 24-hour journey help companies
- Purchasing protections like prolonged guarantee protection and complimentary concierge companies
- Safety protections like $0 fraud legal responsibility, digital card numbers (from Eno), CreditWise credit score monitoring and safety alerts
- Entry to unique experiences through Capital One Eating and Capital One Leisure
If you need a rewards card with a 0% intro APR provide
The Capital One SavorOne card additionally has a 0 p.c intro APR provide on purchases and stability transfers for the primary 15 months (19.99 p.c, 26.24 p.c or 29.99 p.c variable APR after). This prolonged intro APR provide for purchases and stability transfers may also help you consolidate and repay debt or buy and pay for an costly merchandise over time.
Simply keep in mind to complete paying off your stability earlier than the 0 p.c intro APR interval ends to keep away from paying the variable rate of interest. Additionally, understand that a stability switch payment of three p.c applies for stability transfers for the primary 15 months or at a promotional APR that Capital One might give you at another time. There isn’t a payment for quantities transferred on the Switch APR.
If in case you have a journey card from Capital One
Capital One lets you convert money again into miles. Meaning you possibly can switch your SavorOne rewards to one of many issuer’s journey playing cards, together with:
If you have already got one of many Enterprise playing cards, including the SavorOne to your pockets could be a good suggestion. This fashion, you possibly can pool the rewards and earn free journey quicker. Plus, you would possibly have the ability to stretch the worth of your rewards. In keeping with Bankrate’s valuations, Capital One miles are value about 1.7 cents per mile on common whenever you switch them to the issuer’s companions. Meaning $200 in money again can doubtlessly flip into $340 value of journey.
“Earlier this 12 months, I canceled my American Categorical® Gold Card to get the Capital One SavorOne — as a result of I even have the Enterprise X. Maintaining rewards I redeem for flights in two completely different rewards ecosystems was turning into a problem, so I caught with Capital One. Now all of the money again I earn for eating and grocery retailer purchases turns into Capital One miles, and I anticipate to switch round $200 (20,000 miles) per 12 months to my Enterprise X. That’s such a easy strategy to earn journey rewards extra shortly with out taking over further annual charges.”
— Ana StaplesLead Credit score Playing cards Author, Bankrate
When is the Capital One SavorOne not value it?
If you wish to carry a stability
Reward bank cards are inclined to have the next APR basically. The Capital One SavorOne Money Rewards card has a daily variable APR between 19.99 p.c to 29.99 p.c. When you have a tendency to hold a stability from month to month and your credit score is just not stellar, you might find yourself with an APR on the upper finish of the spectrum. Even if in case you have wonderful credit score, the curiosity you’ll pay will greater than negate no matter money again you’ll earn.
So, when you intend to hold a bank card stability long-term (after the intro APR presents finish), you would possibly need to search for a card with a decrease variable APR that may prevent more cash, even when it doesn’t function any rewards (though some low-interest playing cards nonetheless do).
If 3% money again isn’t sufficient
One more reason the Capital One SavorOne card may not be value it’s when you’re an influence spender. For instance, there are extra rewarding money again playing cards on the market, just like the Blue Money Most well-liked® Card from American Categorical, albeit with an annual payment.
The Blue Money Most well-liked Card’s regular $95 annual payment ($0 intro annual payment for the primary 12 months) presents larger rewards, together with 6 p.c money again on U.S. supermarkets (on as much as $6,000 per 12 months, then 1 p.c), 6 p.c money again on choose U.S. streaming subscriptions, 3 p.c money again on transit, 3 p.c money again on U.S. fuel station purchases and 1 p.c money again on all different purchases.
The Blue Money Most well-liked Card additionally presents the next welcome bonus of $250 (within the type of a press release credit score) for brand new cardholders, however you’ll should spend $3,000 within the first six months of account opening to earn it. However for an influence spender, this requirement must be straightforward to realize.
General, the Blue Money Most well-liked Card from American Categorical has a really enticing incomes construction, however whether or not or not it’s definitely worth the $95 annual payment ($0 intro annual payment for the primary 12 months) absolutely is dependent upon your spending habits and the way a lot money again you earn (to offset the price of card membership).
Must you get the Capital One SavorOne?
When you spend so much on eating, groceries, streaming companies and leisure, you’ll love the Capital One SavorOne. And since this can be a no-annual-fee card, you’ll by no means really feel the strain to shut it to economize on an annual payment.
Nonetheless, when you don’t spend a significant amount of cash on meals, journey and leisure, there are many different high money again bank cards which may be a greater match for you. For instance, when you don’t spend so much in these classes, you might need to contemplate a flat-rate card that lets you earn 2 p.c money again on all purchases.
The underside line
The Capital One SavorOne Money Rewards card is among the finest no-annual-fee rewards playing cards for customers who spend so much on meals and leisure. Incomes money again on purchases may be very straightforward, and also you received’t have to recollect to activate quarterly bonus classes or fear about spending limits. To maximise its worth, keep in mind to hold the cardboard in your pockets and use it for all bonus class purchases.
