Capital One SavorOne Cash Rewards for Good Credit Review

If you spend a significant portion of your budget on restaurants, groceries, entertainment and streaming services, you might be eyeing the Capital One SavorOne Cash Rewards Credit Card, which earns cash back on purchases in those categories. However, that card is recommended for those with good / excellent credit.

If your credit is only good, you have better odds of being approved for the Capital One SavorOne Cash Rewards for Good Credit instead. It offers the same cash back program but comes with a higher APR and does not offer an intro APR period.

Capital One also issues a version of the card aimed at college students — the Capital One SavorOne Student Cash Rewards Credit Card. And for big spenders, there is the $0-annual-fee* Capital One Savor Cash Rewards Credit Card.

We’ll examine what the Capital One SavorOne Cash Rewards for Good Credit offers and suggest several alternative cards to consider as well.

• Earn cash back in a variety of categories

  Cardholders with the Capital One SavorOne Cash Rewards for Good Credit earn 3% Cash Back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®); 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply); 8% Cash Back on Capital One Entertainment purchases; 1% Cash Back on all other purchases. That’s a generous cashback rate for a variety of popular spending categories.

• Available to applicants with Good credit

  If your credit score is good but not exceptional, you may worry about being rejected for some of the top-of-the-line credit cards on the market. Luckily, the Capital One SavorOne Cash Rewards for Good Credit is a card offering a fantastic cashback program and targeted specifically at applicants with lower credit scores. And since Capital One reports activity to the credit bureaus, this card can be a useful tool in working to improve your score as well. Just keep your utilization low and always make your payments on time.

• No annual fee or foreign transaction fee

  This card has a $0 annual fee, so you can carry it without paying to do so. Plus, if you happen to travel outside the United States, you can enjoy using it abroad without worrying about a foreign transaction fee being tacked on each time you use the card — there is none.

• High interest rate and no intro APR

  The Capital One SavorOne Cash Rewards for Good Credit has a 29.99% (variable) APR, which is quite high. If you roll over a balance from month to month, you’ll likely be hit with some expensive interest charges. However, if you pay your card off in full every month, you can avoid interest charges entirely.

  While some Capital One credit cards offer a period of 0% intro APR, which can allow you time to pay down a big purchase or a balance transfer without incurring interest charges, the Capital One SavorOne Cash Rewards for Good Credit does not. You’ll start at the regular APR immediately.

• You aren't offered a sign-up bonus

  Unfortunately, there’s no sign-up bonus available when you get the Capital One SavorOne Cash Rewards for Good Credit.

Compare it to the Discover it^® Cash Back

 

If you’re looking for a card that earns more than 3% cash back, the Discover it^® Cash Back might be just what you’re looking for.

Cardholders 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically Note there’s a cap on the elevated cashback rate of $1,500 spent per quarter — meaning you can earn a maximum of $75 cash back at that rate before your earnings drop to 1% on all purchases for the rest of the quarter. Still, that’s generous for a card with a $0 annual fee.

Plus, the sign-up bonus is unique in that it’s a cashback match: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.

You can also take advantage of solid intro APRs to make a big purchase or transfer a balance from another card. On purchases, enjoy 0% Intro APR for 15 months, after which a 18.74% - 27.74% Variable APR applies. On balance transfers, there’s also 0% Intro APR for 15 months, after which a 18.74% - 27.74% Variable APR applies.

The balance transfer fee is 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. As for the foreign transaction fee, there is none. However, on that last, it’s worth noting Discover is not as widely accepted in some countries as cards on the Visa and Mastercard payment networks.

Because the Capital One SavorOne Cash Rewards for Good Credit is a Mastercard, it might be a better fit if you’ve got a trip abroad planned and want to know if you can use your card most places you visit.

The Capital One SavorOne Cash Rewards for Good Credit is a great option for consumers who aren’t able to get approved for the higher-level Capital One SavorOne Cash Rewards Credit Card. The stripped-down version of the card comes with no sign-up bonus, no intro APR and a high regular APR, but it still earns generous cash back rewards on dining, entertainment and more while boasting a $0 annual fee.