Capital One Savor vs SavorOne: SavorOne Wins

May 2024 · 11 minute read

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Capital One Savor vs SavorOne: SavorOne Wins

Capital One offers a range of credit cards to cater to different consumer needs. The Capital One Savor and SavorOne are two popular options for individuals looking for rewards on dining and entertainment purchases. While both cards have their advantages, the SavorOne comes out on top for several reasons. In this article, we will compare the Capital One Savor vs SavorOne and delve into why the SavorOne card is the better choice.

1. Annual Fee

When comparing credit cards, one of the first factors to consider is the annual fee. The Capital One Savor card charges an annual fee of $95, whereas the SavorOne has no annual fee. This difference provides a significant advantage for those who want to maximize their rewards without incurring additional costs.

2. Rewards Structure

Both the Capital One Savor and SavorOne credit cards offer compelling rewards structures for dining and entertainment purchases. However, the SavorOne provides a better earning potential for most individuals. The SavorOne card offers unlimited 3% cash back on dining, 2% cash back on groceries, and 1% cash back on all other purchases. On the other hand, the Savor card offers 4% cash back on dining and entertainment, 2% cash back at grocery stores, and 1% cash back on other purchases. While the Savor provides a higher cash back rate for dining and entertainment, the additional annual fee may offset the higher rewards.

3. Welcome Bonus

When deciding between the Capital One Savor vs SavorOne, the welcome bonus can be a significant factor. The Savor card offers a higher welcome bonus of $300 after spending $3,000 on purchases within the first three months. In comparison, the SavorOne card provides a welcome bonus of $200 after spending $500 on purchases within the same time frame. While the Savor card bonus is larger, the spending threshold is also higher.

4. Interest Rates

The interest rates on credit cards can vary significantly and should be taken into consideration when making a decision. Both the Capital One Savor and SavorOne cards offer a variable APR between 15.99% – 24.99% based on creditworthiness. It’s important to remember that carrying a balance on a credit card can lead to costly interest charges, so it’s advisable to pay the full balance each month to avoid this.

5. Foreign Transaction Fees

Frequent travelers or individuals who make purchases from international merchants should be aware of foreign transaction fees. The Capital One Savor card charges a foreign transaction fee of 0%, while the SavorOne card also has no foreign transaction fees. This feature makes both cards suitable for international usage, but the absence of foreign transaction fees makes the SavorOne card a better choice for individuals who frequently travel abroad.

6. Additional Features and Benefits

When comparing credit cards, it’s essential to consider the additional features and benefits they offer. Both the Capital One Savor and SavorOne cards provide benefits such as extended warranty protection, travel accident insurance, and 24/7 customer support. However, since both cards are part of the same Capital One program, the additional features and benefits are similar, providing no significant advantage to either card.

7. Customer Reviews and Satisfaction

Taking into account customer reviews and satisfaction can provide insights into the overall experience with credit cards. While customer preferences vary, it’s worth noting that the SavorOne card has received consistently positive reviews regarding its rewards structure, customer service, and simplicity. This positive perception may be attributed to the lack of an annual fee and straightforward cash back earning potential, ultimately contributing to higher customer satisfaction levels.

8. Versatility and Wider Acceptance

Credit card acceptance can vary across different merchants and establishments. In this regard, it’s important to consider a card that is widely accepted. Both the Capital One Savor and SavorOne cards provide broad acceptance worldwide since they belong to the Visa payment network. However, it’s important to keep in mind that acceptance may vary in certain countries or regions, and it’s advisable to carry an alternative payment method when traveling.

9. Rewards Redemption Options

When it comes to rewards redemption, the Capital One Savor and SavorOne cards offer similar options. Cardholders can redeem their cash back for statement credits, checks, or gift cards. Additionally, both cards allow for easy redemption through the Capital One mobile app or website. This wide range of redemption options ensures that cardholders can easily access and utilize their cash back rewards without any hassle.

10. Credit Score Requirements

Understanding the credit score requirements for credit cards is essential before applying. Both the Capital One Savor and SavorOne cards typically require good to excellent credit scores for approval. Good credit is generally considered to be a FICO score above 670. While these cards have similar credit score requirements, it’s always advisable to check your credit score beforehand to ensure you meet the eligibility criteria.

11. Comparing Upgrade Options

As your financial situation evolves, you may want to consider upgrading your credit card to take advantage of additional benefits. In the case of the Capital One Savor and SavorOne cards, the upgrade options are different. Capital One allows SavorOne cardholders to upgrade their card to the Savor card, unlocking higher cash back rewards and the associated annual fee. However, the availability of upgrades may vary, and it’s always recommended to check with Capital One to understand the upgrade eligibility and benefits.

12. Insurance Coverage and Protections

A credit card’s insurance coverage and protections are particularly important for individuals looking for added peace of mind. Both the Capital One Savor and SavorOne cards offer similar insurance coverage, including travel accident insurance, extended warranty protection, and auto rental collision damage waivers. However, the extent of coverage may vary based on specific terms and conditions, and it’s advisable to review the card’s benefits guide to understand the details.

13. Limiting Spending and Debt

Although credit cards offer convenience, it’s important to exercise responsible spending and avoid excessive debt. Both the Capital One Savor and SavorOne cards provide the ability to set spending limits, enabling cardholders to control their expenses effectively. Additionally, Capital One offers tools and resources to help users manage and monitor their spending, making it easier to stay on top of finances and maintain a healthy credit profile.

14. Flexibility for Changing Priorities

Our priorities and spending habits may evolve over time, and it’s essential to choose a credit card that can adapt to these changes. While the Capital One Savor and SavorOne cards both excel in the dining and entertainment categories, the SavorOne card offers more flexibility with its rewards structure. The SavorOne card’s higher cash back on groceries and absence of an annual fee make it a more versatile option for individuals whose priorities may shift away from dining and entertainment spending in the future.

15. Conclusion

In conclusion, while both the Capital One Savor and SavorOne credit cards have their merits, the SavorOne card comes out on top for several reasons. With no annual fee, competitive rewards structure, and positive customer reviews, the SavorOne card is an excellent choice for individuals looking to maximize rewards without incurring unnecessary costs. However, it’s essential to consider individual spending habits and priorities before making a final decision. Assess your own needs and preferences to determine which credit card is the best fit for you. Choose wisely and enjoy the benefits that come with responsible credit card usage.

FAQs

1. Can I have both the Capital One Savor and SavorOne cards?

Yes, it is possible to have both the Capital One Savor and SavorOne cards. However, keep in mind that having multiple credit cards may impact your credit score and ability to obtain new credit in the future. If you choose to have both cards, it’s essential to manage them responsibly and only apply for new credit when necessary.

2. How do I upgrade my SavorOne card to a Savor card?

To upgrade your SavorOne card to a Savor card, contact Capital One customer service or visit their website. They will be able to guide you through the upgrade process and provide any additional information you may need.

3. What is the credit score requirement for the Capital One SavorOne card?

The Capital One SavorOne card typically requires a good to excellent credit score for approval. This translates to a FICO score of 670 or above. It’s essential to check your credit score before applying for a credit card to ensure you meet the eligibility criteria.

4. Can I use my Capital One SavorOne card abroad?

Yes, you can use your Capital One SavorOne card abroad. It belongs to the Visa payment network, which is widely accepted worldwide. However, it’s essential to check for any foreign transaction fees before using your card internationally.

5. Can I transfer my cash back rewards from my SavorOne card to another Capital One card?

No, you cannot transfer your cash back rewards from your SavorOne card to another Capital One card. The cash back rewards earned with each card are specific to that particular card and cannot be transferred.

6. Are there any restrictions on redeeming cash back rewards?

There are typically no restrictions on redeeming cash back rewards earned with the Capital One SavorOne card. You can redeem your rewards for statement credits, checks, or gift cards. Capital One provides flexible redemption options, allowing you to easily access and utilize your rewards.

7. Is the SavorOne card better for someone who spends more on groceries than on dining and entertainment?

Yes, the SavorOne card is better suited for individuals who spend more on groceries than on dining and entertainment. It offers unlimited 3% cash back on dining, 2% cash back on groceries, and 1% cash back on all other purchases, making it more beneficial for those who prioritize grocery spending.

8. Does the Capital One Savor card provide better rewards for dining and entertainment purchases?

Yes, the Capital One Savor card offers a higher cash back rate for dining and entertainment purchases, providing 4% cash back compared to the SavorOne card’s 3% cash back. However, the additional annual fee of $95 associated with the Savor card may offset the higher rewards, making the SavorOne card a better choice for most individuals.

9. Does the SavorOne card have a minimum spending requirement to earn the welcome bonus?

Yes, to earn the welcome bonus with the SavorOne card, you need to spend $500 on purchases within the first three months of account opening. This spending threshold is relatively low compared to other credit cards and provides an attainable bonus for new cardholders.

10. Can I use my SavorOne card for contactless payments?

Yes, the Capital One SavorOne card is compatible with contactless payments. It features a built-in contactless chip that allows you to make secure payments by simply tapping your card on a contactless-enabled payment terminal.

11. How can I track my cash back rewards earned with the SavorOne card?

You can track your cash back rewards earned with the SavorOne card through the Capital One mobile app or website. Simply log in to your account, and you will be able to view your rewards balance, transaction history, and other relevant information.

12. Are there any limitations on the amount of cash back I can earn with the SavorOne card?

No, there are no limitations on the amount of cash back you can earn with the SavorOne card. You can earn unlimited cash back on all your eligible purchases, allowing you to maximize your rewards potential without any restrictions.

13. Does the SavorOne card provide any travel-related benefits?

While the Capital One SavorOne card does not offer extensive travel-related benefits like travel insurance, it does provide secondary rental car collision damage waivers and 24/7 travel assistance services. These benefits can offer some peace of mind when traveling.

14. Can I access my SavorOne card account information online?

Yes, you can access your SavorOne card account information online through the Capital One website. You can view your statements, review transactions, make payments, and manage your account settings, all in one convenient online portal.

15. Can I apply for the SavorOne card if I already have a Capital One credit card?

Yes, you can apply for the SavorOne card even if you have another Capital One credit card. However, approval will be subject to creditworthiness and other factors determined by Capital One. It’s always advisable to check with the issuer for any specific eligibility requirements or restrictions.

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