The Capital one savor cash rewards credit card is a flat-rate credit card that does not charge you an Annual Fee. It is best for those people who primarily focus on Food, Entertainment Experiences. It offers you the ability to earn an unlimited Cashback Reward of 3% on Dining, Mainstream Streaming Services, Entertainment, Grocery Stores (excluding Superstores like Walmart).
If you are a frequent foodie who loves to dine out or a grocery shopper, it is a good Cash-back Card.
Moreover, you can also earn a Cashback Reward of 8% on tickets of Vivid Seats.
Table of Contents
- Additional Perks
- Drawbacks of Capital One Savor
- Odds of Approval of Capital One Savor
- Best Alternative of Capital One
- Quick Comparison
Fees of Capital one savor cash rewards credit card
|Balance Transfer Fees||3% of the total amount of each transferred balance that posts to your account at a promotional APR offered by them.|
|Foreign Transaction Fees||Nil|
|Introductory APR||0% for 15 Months|
|Regular APR||Variable 15.49%-25.49%|
Benefits of Capital one savor cash rewards credit card
#1. Generous Cashback Rewards for Dining, Groceries, and Entertainment Services
The Capital one savor cash rewards credit card offers a Considerable Cashback reward on going out, with its unlimited 3% cash back on purchases that are termed as dining, entertainment, streaming services, and groceries.
Those transactions include purchases made at restaurants, movie theaters, various entertainment venues, and grocery merchants.
In the case of other transactions, you earn an unlimited Cashback Reward of 1%.
#2. Welcome, the bonus of $200
You can earn a one-time sign-up bonus of $200 in the form of a Cashback reward on making purchases worth $500 within the first 3 months time period from the date of account opening.
#3. Does not impose some frequently occurring fees
Doesn’t Impose Some Frequent Fees: The Capital SavorOne’s absence of an annual fee is welcome, especially considering its robust rewards. But this Card also skips the charging balance transfer fee.
#4.No Rotating Categories or sign-ups required to earn cashback reward
This Card does not require you to sign-up to avail of cashback rewards. Moreover, the cashback earned will not expire for the life of the account, and there is no restriction on how much cashback you can achieve using this Card.
#5. Easy to redeem Cashback Rewards
How to use capital one cash rewards ?. It is simple to redeem Cashback Rewards using this Card by requesting a Statement Credit, gift card, or a check, as long as you have reached a $25 threshold.
All you need to do is initiate the redemption through the Capital One app or your online account. Since there are no points to deal with, you can redeem as much cashback as you desire, up to your earned amount.
You can also redeem your Cashback Rewards on Amazon.com.
Moreover, you can share the potential Cashback Rewards among your various accounts.
Additional Perks offer by Capital one savor cash rewards credit card
#1. No Foreign Transfer Fees Charged
This Card does not charge you any Foreign Transfer Fees. That means travelers can use this Card outside the US without paying any Foreign Transfer Fees.
#2. Warranty Management Service
Those approved for an eligible version of this Card will receive many valuable features to help manage, use, and extend the warranty of goods purchased using this Card.
However, it is advised that new cardholders should refer to their cardholder agreement for benefit guidelines.
#3. Card Lock
Card Lock is a feature of the Capital One mobile app that can be used if your Card is lost, stolen, or misplaced.
Capital One covers you by $0 Fraud Liability if your Card is lost or stolen.
#5. Price Protection
If you purchase an eligible item using your Capital One Card and find a different price in the next 4 months, you can apply for reimbursement for the difference between prices.
#6. Decent Customer Service
Among major credit card issuers, Capital One offers a decent Customer Care service to cardholders. Among the 11 Credit Card issuers, it ranked fifth. It provides 24/7 customer service and web chat features. But the chat service on the website is challenging to find.
However, it should also be noted that Capital One App is rated 4.8/5.0 on the Google Play Store and 4.7/5.0 on the Apple AppStore.
#7. Complimentary Concierge Service
Enjoy comprehensive, personalized assistance in dining, entertainment and travel 24 hours a day, 365 days a year
#8. 24-hour Travel Assistance Services
If your credit card is lost or stolen, you can get an emergency replacement card and a cash advance.
Get alerts when your TransUnion® or Experian® credit report changes.
Drawbacks/Limitations of Capital one savor cash rewards Credit card
#1. Relatively Lower Cashback Reward
Even though it offers an unlimited Cashback of 3%, there are cards like Discover It that give you a Cashback of 5% on purchases up to $1,500 each quarter, and then it offers you a limitless 1% Cashback.
#2. Relatively Higher Regular APR
The Regular APR charged by Capital One is variable, i.e., it charges you 15.49%-25.49%. A wide range of cards charges you a relatively lower APR like Discover It (it charges a variable APR- of 11.99%-22.99%), Citi Double (it sets a variable APR of 13.99-23.99%).
#3. Superstores & Warehouse Clubs not covered in Grocery Shopping
Capital one savor cash rewards credit card does not cover mainstream Superstores like Walmart & Warehouse Clubs like Costco. That means you can not maximize the utility of your money in case you shop at any of these stores.
So, it’s in your best interest to check out if the grocery stores you shop at are covered by Capital One or not.
Odds of Approval of Capital one savor cash rewards credit card
The Savor One card is designed for users with a good to excellent credit score of 670 and above. But it should be noted that Credit Score on its own doesn’t suffice for the process of approval.
The odds of approval also depend upon your income, existing debts, along with other relevant information. If you have a lower score than 670, then your odds of approval slim down to.
Alternatives of Capital one savor cash rewards credit card
Discover It is one of the best alternatives to this Card due to its consistent cashback reward of 5% on purchases up to $1,500.
Moreover, it is well-renowned for its most exemplary Customer Care Service, which is matched by none other than American Express.
Another advantage of using Discover It is lower APR charges of 11.99%-22.99% as compared to 15.49%-25.49%.
The Citi Double is a better card despite offering a relatively lower cashback of 2% as compared to 3% Cashback provided by Capital One because it gives you a more extended break from APR.
It does not charge you APR for 18 months, compared to 15 months time period of Capital one savor cash rewards credit card.
It also charges you a lower APR of 13.99%-23.99% as compared to 15.49%-25.49%.
Capital one savor cash rewards credit card vs. Citi Double
Citi Double has the upper hand in terms of APR as it does not charge you any penny for 18 months compared to 15 months time period of Capital One.
This advantage of Citi extends even after that time since Citi Double sets you a relatively lower range of APR (13.99%-23.99%), as compared to higher range APR of 15.49%-25.49%.
Capital One has the upper hand due to a relatively higher Cashback rate of 3% compared to a cashback rate of 2% offered by Citi Double. Another Upper hand of Capital One is the Welcome bonus of $200 on purchases up to $500 within the first 3 months of account opening.
Citi Double, on the other hand, doesn’t offer you a Welcome Bonus.
Capital one savor cash rewards credit card vs. Discover it Cash back Credit Card
Discover It has the upper hand regarding the higher-ranked Customer Care Services in the study of 11 primary credit card issuers’ customer service analyses.
It is ranked second, while American Express is ranked first. Capital one savor cash rewards credit card is ranked fifth in the same study.
Another upper hand of Discover It is the 5% Cashback rewards up to purchases of $1,500 each quarter.
On the other hand, Capital One has an advantage of a Welcome Bonus of $200, on purchases up to $500 within the first 3 months of Account Opening.
Another minor advantage of Capital one savor cash rewards credit card is a slightly more extended period of 0% APR. Capital One offers you a 0% APR for 15 months, compared to 14 months time period of Discover It.
But this APR advantage of Capital One can get overlooked due to the lower APR charged by Discover It since it sets you 11.99%-22.99% APR compared to 15.49%-25.49%.
|Fees & Rates||Capital one savor cash rewards credit card||Discover It cash back Credit Card||Citi Double Cash Card|
|Welcome Bonus/Sign-up Bonus||$200 on purchases up to $500 within the first 3 months of Account Opening||None||None|
|Cashback Rewards||3%||5% Cashback on purchases up to $1,500 made within the first 3 months of Account Opening, then 1% unlimited Cashback is Applicable.||2% total Cashback (1% as you buy and 1% as you pay)|
|Intro APR||0% APR for 15 Months||0% APR for 14 Months||0%|
|Regular APR||Variable APR 15.45%-25.45%||Variable 11.99%-22.99%||Variable 13.99-23.99%|
|Foreign Transaction Fees||0%||0%||3%|
What is the Capital one savor one cash rewards credit card credit limit ?
The Capital one credit limit is not pre-determined, Capital One says that credit limit will be decided after application process, ability to pay, your credit history. your credit limit will be good if your credit score is above 700+.
Is Capital one savor card a visa or Mastercard ?
The Capital One Savor One Cash Rewards Credit Card, is a Mastercard. So it could be accepted almost anywhere master card credit cards are accepted. However, This credit card is not accepted at Costso.
How to withdraw cash from credit card capital one
You can get a cash advance at an ATM with your Personal Identification Number (PIN), here is the steps.
- Follow the cash advance instructions displayed on the ATM
- Make sure you understand any fees that the ATM might charge in addition to those outlined in your account terms before completing the transaction
You can also withdraw cash from at bank locations displaying a Visa or Mastercard logo, same as you withdraw from Debit card. You need to provide a government issued photo ID like a driver’s license with your Capital One card.
How to check, if You’re Pre-Approved for a Credit Card from Capital One
There are link on Capital One website that lets you check, if You’re Pre-Approved for a Credit Card from Capital One. Here are link for the same. There are no harm in checking, because there are no hard inquiry on your credit report.
Is Capital one savor cash rewards credit card the Right Card for You?
Capital one savor cash rewards credit card review
The Capital one savor cash rewards credit card is an excellent card for a casual spender who is fond of dine-out and entertainment. It does not charge you an annual fee and foreign transaction fee, while offering you a Cashback reward of 3%.
Moreover, the welcome bonus offered by it can be welcoming for many people.
But if you want a more cost-effective card that offers you a higher cashback rate of 5% on various categories along with a cap on the spending of $1,500, and some of the better-known Customer Services, then Discover it is the better Card to look for.