Capital One SavorOne Cash Rewards for Good Credit Card Review

• Best for: Earning cash back rewards and building your credit score.
• Cash back: 3% on dining, entertainment, popular streaming services, and grocery stores (excluding superstores like Walmart® and Target®) ; 1% on all other purchases.
• Introductory offer: None.
• APR: 30.49% (Variable) APR for purchases, cash advances, and balance transfers.
• Foreign transaction fee: None.
• Ongoing fees for balance transfers: $0 at the Transfer APR.
• Cash advance fee: 3% of the amount of the cash advance, but not less than $3.
• Annual fee: $0.

Rewards

The Capital One SavorOne Cash Rewards for Good Credit card is a great cash back rewards card for anyone still building their credit. It lets you earn unlimited 3% back on dining, entertainment, grocery stores, and streaming services. You also earn 1% back on all other purchases.

Earning 3% back on multiple categories is hard to find for a card with lower credit score requirements. And you can even earn 5% back if you book travel through Capital One Travel and 8% if you spend on entertainment through Capital One Entertainment.

There are a few exceptions to the 3% cash back categories that are worth noting. For example, Walmart and Target don’t qualify, which is a downside if that’s where you do most of your grocery shopping. Not all streaming services qualify, but you can expect to find popular streaming services like Netflix. But for the most part, categories are fairly inclusive, and you shouldn’t run into many issues with vendors being excluded from the 3% rate.

Cash back never expires, and there isn’t a minimum redemption amount like some credit cards require. As for redemption options, you can redeem cash back for statement credits, Amazon and PayPal purchases, and a variety of gift cards to companies like Amazon and Starbucks.

Bonuses

The regular Capital One SavorOne Cash Rewards Credit Card pays a $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening. See Rates & Fees.

In contrast, the SavorOne Cash Rewards for Good Credit card doesn’t have any introductory bonuses. However, you only need good credit to apply.

APR

This card has a 30.49% (Variable) APR for purchases and cash advances. There isn’t a 0% introductory period like some credit cards offer.

30.49% (Variable) is fairly high relative to other credit cards in this class. With a high interest rate it’s imperative that you pay your card balance off in full every month and avoid cash advances and balance transfers like the plague.

Credit Limit

Capital One states it determines your credit line after reviewing your application and ability to pay. Factors like your credit history, history of late payments, and annual income all influence your final credit limit.

You can include shared income when applying (i.e. the combined income of you and your spouse), which can potentially increase your credit limit.

Fees

The Capital One SavorOne Cash Rewards for Good Credit card doesn’t have an annual fee, and it doesn’t charge foreign transaction fees. But you can pay cash advance fees or late payment fees:

• Cash advance: 3% of the amount of the cash advance, but not less than $3
• Late payment: Up to $40.

Balance transfers are not applicable with this offer.

Other Benefits

You don’t get an introductory cash bonus or 0% APR period with this card. But since this is a Capital One rewards card, cardholders do enjoy several perks from the Capital One ecosystem. And you also get numerous benefits from Mastercard as well:

• Capital One Travel: Aside from earning 5% cash back on Capital One Travel bookings, you also get 24 hours of price matching on flights and hotels and access to Capital One airport lounges ($65 entrance fee).
• Capital One Shopping: This browser extension and app applies coupon codes at checkout to help you save money. You can also earn shopping credits that are redeemable for a variety of gift cards.
• Capital One Entertainment & Dining: Get exclusive reservations and ticket offers to famous restaurants, sporting events, and concerts.
• Extended Warranty: Enjoy up to two years of additional extended warranty coverage with the exception of some categories, like vehicles.
• Complimentary Concierge Service: Access personalized assistance for booking dining, entertainment, and travel events 24/7, 365 days a year.
• 24-Hour Travel Assistance: Get an emergency replacement card and cash advance if you lose your card or have it stolen.

Citi Custom Cash℠ Card

• Cash back: Earn 5% cash back on your highest eligible spend category each billing cycle (up to $500) and 1% on all other purchases.
• Into offer: Earn 0% Intro APR for 15 months on purchases and balance transfers (then a variable APR applies). Balance Transfers must be completed within 4 months of account opening.
• APR: See terms
• Annual fee: $0
• Balance transfer fee: $5 or 5%, whichever is greater.
• Foreign transaction fee: See terms
• Credit score requirement: Good/excellent

The Citi Custom Cash℠ Card has a very different rewards structure than the SavorOne Cash Rewards for Good Credit. It pays you 5% cash back, up to $500, on your top eligible spending category per billing cycle. Eligible categories include options like grocery stores, gas stations, restaurants, drugstores, home improvement stores, gyms, and select travel expenses. The number of options gives you flexibility for earning 5% back, and this card could be more lucrative than the SavorOne Cash Rewards card depending on how much you spend.

The intro cash bonus and 0% APR are also significant perks of this card. However, if you don’t spend a lot per billing cycle on one particular category, earning 3% across multiple categories with Capital One’s card could be superior. And if you’re a frequent overseas traveler, Capital One’s lack of foreign transaction fees makes the card a better choice.

Chase Freedom Flex℠

• Cash back: 5% on quarterly bonus categories when you activate and Chase Ultimate Rewards® travel purchases, 3% on dining and drugstore purchases, and 1% on all other purchases.
• Into offer: Earn $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
• APR: 0% Intro APR on Purchases for 15 months & 0% Intro APR on Balance Transfers for 15 months (after that 20.49% - 29.24% Variable)
• Annual fee: $0
• Balance transfer fee: $5 or 5% of the amount of each transfer, whichever is greater.
• Foreign transaction fee: 3% of each transaction in U.S. dollars.
• Credit score requirement: Good/Excellent.

Another alternative to the SavorOne Cash Rewards for Good Credit card is the Chase Freedom Flex℠. This card has a good introductory offer that lets you earn $200 bonus after you spend $500 on purchases in the first 3 months from account opening. It also has a 5% quarterly cash back calendar when you activate that helps you earn even more.

Granted, the unpredictability of rotating quarterly cash back categories won’t appeal to everyone. But previous categories have included grocery stores, streaming services, home improvement stores, and wholesale clubs, so most cardholders will usually find ways to maximize cash back.

Again, earning a consistent 3% back on multiple categories might be superior to variable 5% cash back categories depending on your spending habits. And the Capital One SavorOne Cash Rewards for Good Credit card has more travel perks and doesn’t charge foreign transaction fees.

Finding a cash back rewards card that pays 3% on multiple categories without requiring excellent credit isn’t an easy feat. Ultimately, if you want a competitive cash back credit card that also helps you build your credit, the SavorOne Cash Rewards for Good Credit card is a good card for you. And if you maximize cash back by using Capital One Travel, it’s even more worthwhile.

You can apply for the Capital One SavorOne Cash Rewards for Good Credit card via our link.

You have to provide information like your name, date of birth, and Social Security Number. Capital One also requires information about your employment status, annual income, and monthly rent or mortgage payments so it can determine your credit limit.

If you’re working on improving your credit but still want to maximize every dollar you spend, the Capital One SavorOne Cash Rewards for Good Credit card is for you. The fact that you can earn 3% on categories like groceries and dining is a massive perk of this card. And you don’t have to worry about annual fees or foreign transaction fees either.

Some credit cards with rotating 5% cash back categories might be superior depending on your shopping habits. But for a comprehensive rewards card with numerous perks, add this card to your wallet.