Capital One SavorOne Cash Rewards

Rewards Rate

Welcome Bonus

There’s a one-time, $200 cash bonus for new account holders. To be eligible, you must spend $1,000 on purchases within 3 months of opening the account. There’s also a 0% introductory APR for the first 15 months of having the card.

APR

19.99-29.99% Variable APR

Pro & Cons

• Offers unlimited 3% cash back on entertainment, streaming services, hotels, dining, and groceries
• 0% introductory APR for 15 months
• No annual fee
• No foreign transaction fees

• Some cash-back options are only available through Capital One Entertainment and Capital One Travel
• Establishments with a different business code may have limited cash back rewards
• Certain purchases have low cash back rewards at 1%

Capital One SavorOne Cash Rewards

The SavorOne Rewards from Capital One is a credit card that comes with cash back rewards on Capital One entertainment ticketing platforms, as well as hotels, car rentals, and restaurants. Unlike other cash back rewards cards that offer a flat rate reward, the SavorOne has several different categories with different rates. It’s designed for users with excellent credit.

Rewards Redemption

The process of redeeming your rewards is simple. You can either request your rewards in the form of a check, or through a statement credit to your account. Or you can set up automatic redemption, which can occur at a specific time or when a specific amount of cash-back is accumulated. You may also redeem rewards through Amazon, PayPal, or gift cards. Rewards will not expire except in the event of an account closure.

Terms, Rates and Fees

The SavorOne Cash Rewards Credit Card comes with a variable APR ranging from 19.99% to 29.99%, depending on creditworthiness. The APR on cash advances is 29.99%. There’s also a 3% balance transfer fee on amounts transferred within the first 15 months. After the introductory period ends, there is no balance transfer fee.

This card also comes with a cash advance fee of $3 or 3% of the amount, whichever is higher. There’s also a $40 late fee. However, there are no annual or foreign transaction fees.
Aside from potentially high variable APR, which is typical with Capital One’s credit card offerings, this credit card has fairly standard terms and fees.

Maximize Benefits and Avoid Fees

Here’s how to maximize your benefits and avoid fees with the SavorOne credit card by Capital One:

• Take advantage of the cash-back rewards. Something that provides ongoing value to this card is its cash-back rewards. The standard cash-back amount is 3%. However, there is currently a deal that offers 10% cash-back on qualifying purchases made through Uber Eats or Uber.
• Spend $1,000 in 3 months. Doing this will qualify you for the $200 welcome bonus offer.
• Pay off the balance in full. By paying off the full balance each month, you can avoid interest charges.
• Pay off the balance before the introductory period ends. This card comes with 0% APR for the first 15 months. If you use it to transfer another card’s balance, pay off the balance in full to avoid interest.

How to Apply

• Navigate to the main page. Go to Capital One’s main webpage.
• Hover over Credit Cards. From there, find “Credit Cards” at the top of the page and click on “Cash Back Rewards.”
• Click on Savor & SavorOne Rewards. This will give you two options. Click “See Cards” under Savor & SavorOne Rewards.
• Choose SavorOne Rewards. Then, select “SavorOne Rewards.” This will bring you to the information page about this specific card.
• Click on “Apply Now.” At this point, you can read more about the Capital One SavorOne Cash Rewards Credit Card. When you’re ready to fill out an application, click “Apply Now.”
• Fill out the application. You can fill out the application for this credit card online. Be prepared to provide your legal name, SSN or Individual Tax ID number, and information about your citizenship or residency. Press “Continue.”
• Provide your contact information. You’ll also need to list a residential address, along with your email and main phone number. Select “Continue.”
• Fill out your employment status and income information. At this stage, input your approximate annual income, your monthly rent or mortgage payment amount, and your employment status. You’ll also need to provide your bank account information, whether you typically have a balance on your credit cards, and how you plan to use your credit card.
• Decide whether to add an additional cardholder. Next, you’ll have the option to add an additional cardholder. If you do, provide their name, date of birth, phone number, and SSN.
• Review and submit. Finally, look over your information and submit the application. Wait for a decision.

Qualification Requirements

• Excellent credit score with no active bankruptcy
• Proof of sufficient income
• 18 years or older
• SSN or Taxpayer Identification Number

What Makes This Card Appealing?

The biggest draw of the SavorOne Rewards Credit Card from Capital One is that it comes with unlimited 3% cash-back on dining, groceries, entertainment, and select streaming services. It also comes with additional cash-back rewards on things like hotel accommodations and car rentals when made using this card.