Is The Capital One SavorOne Worth It?

The Capital One SavorOne Money Rewards Credit score Card is a superb rewards card to have in your pockets for those who’re all about meals, journey and leisure. However earlier than you apply for the Capital One SavorOne, you most likely wish to know if this card is an effective match for you or if one of many different high money again bank cards might fit your wants higher. Under, we’ll check out some cases when this card could possibly be price it — and never price it — for you.

​When is the Capital One SavorOne price it?

If you happen to love meals and leisure however hate annual charges

If you happen to spend a substantial sum of money on meals, eating, journey and leisure and, on the identical time, you don’t wish to pay an annual price, the Capital One SavorOne Money Rewards could possibly be an excellent alternative 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 lodges and rental vehicles booked by means of the Capital One Journey portal, 8 p.c money again on Capital One Leisure purchases, 10 p.c money again on purchases made by means of Uber and Uber Eats (by means of 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 at all times the case with different high rewards bank cards. For instance, the Blue Money On a regular basis® Card from American Categorical solely helps 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 would like 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 realize because it requires assembly a decrease spending quantity than different rewards playing cards in the marketplace.

The Capital One SavorOne additionally consists of quite a few different advantages like:

• No overseas transaction charges (making this a useful card for world vacationers)
• Journey advantages like journey accident insurance coverage, entry to the Capital One Journey portal and 24-hour journey help companies
• Buying 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 would like 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 steadiness 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 steadiness transfers will help you consolidate and repay debt or buy and pay for an costly merchandise over time.

Simply bear in mind to complete paying off your steadiness earlier than the 0 p.c intro APR interval ends to keep away from paying the variable rate of interest. Additionally, remember the fact that a steadiness switch price of three p.c applies for steadiness transfers for the primary 15 months or at a promotional APR that Capital One could give you at another time. There isn’t a price for quantities transferred on the Switch APR.

In case you have a journey card from Capital One

Capital One permits you to 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 may be a good suggestion. This manner, you possibly can pool the rewards and earn free journey sooner. Plus, you may be capable of stretch the worth of your rewards. In line with Bankrate’s valuations, Capital One miles are price about 1.7 cents per mile on common once you switch them to the issuer’s companions. Meaning $200 in money again can doubtlessly flip into $340 price 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. Conserving rewards I redeem for flights in two totally 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 count on to switch round $200 (20,000 miles) per 12 months to my Enterprise X. That’s such a easy technique to earn journey rewards extra shortly with out taking up further annual charges.”

— Ana StaplesLead Credit score Playing cards Author, Bankrate

When is the Capital One SavorOne not price it?

If you wish to carry a steadiness

Reward bank cards are inclined to have a better APR normally. The Capital One SavorOne Money Rewards card has a daily variable APR between 19.99 p.c to 29.99 p.c. If you happen to have a tendency to hold a steadiness from month to month and your credit score is just not stellar, chances are you’ll find yourself with an APR on the upper finish of the spectrum. Even when you’ve got wonderful credit score, the curiosity you’ll pay will greater than negate no matter money again you’ll earn.

So, for those who intend to hold a bank card steadiness long-term (after the intro APR affords finish), you may wish to search for a card with a decrease variable APR that may prevent more cash, even when it doesn’t characteristic any rewards (though some low-interest playing cards nonetheless do).

​If 3% money again isn’t sufficient

Another excuse the Capital One SavorOne card may not be price it’s for those who’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 price.

The Blue Money Most well-liked Card’s ordinary $95 annual price ($0 intro annual price for the primary 12 months) affords increased 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. gasoline station purchases and 1 p.c money again on all different purchases.

The Blue Money Most well-liked Card additionally affords a better welcome bonus of $250 (within the type of a press release credit score) for brand spanking new cardholders, however you’ll must spend $3,000 within the first six months of account opening to earn it. However for an influence spender, this requirement ought to be straightforward to achieve.

Total, the Blue Money Most well-liked Card from American Categorical has a really enticing incomes construction, however whether or not or not it’s well worth the $95 annual price ($0 intro annual price for the primary 12 months) totally depends 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?

If you happen to spend rather a lot 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 stress to shut it to save cash on an annual price.

Nevertheless, for those who don’t spend a significant sum of money on meals, journey and leisure, there are many different high money again bank cards which may be a greater match for you. For instance, for those who don’t spend rather a lot in these classes, chances are you’ll wish to contemplate a flat-rate card that permits you to earn 2 p.c money again on all purchases.

​The underside line

The Capital One SavorOne Money Rewards card is without doubt one of the greatest no-annual-fee rewards playing cards for shoppers who spend rather a lot on meals and leisure. Incomes money again on purchases could be very straightforward, and also you gained’t have to recollect to activate quarterly bonus classes or fear about spending limits. To maximise its worth, bear in mind to hold the cardboard in your pockets and use it for all bonus class purchases.