Key Points
- Rebranding
of the Card: Capital One has rebranded its popular no-annual-fee card.
The "SavorOne" card is now simply known as the "Savor"
card, but retains the same rewards structure.
- Same
Rewards Structure: The card continues to offer 3% cashback on
groceries, dining, entertainment, and streaming services. Additionally, it
provides 5% cashback on Capital One Travel purchases and 8% on Capital One
Entertainment.
- Limited-Time
Bonus Offer: A special promotion is currently available, offering a
$250 cashback bonus after spending $500 within the first three months.
- No
Foreign Transaction Fees: The card allows for international purchases
without foreign transaction fees, maintaining its 3% cashback on dining
and groceries abroad.
- 0%
Intro APR: The card includes a 0% introductory APR for the first 15
months on purchases and balance transfers, although a balance transfer fee
applies.
- Competitive
Edge Over Annual Fee Cards: Compared to similar cards with annual
fees, like the American Express Gold or Citi Premier, the Savor card
stands out as a strong no-annual-fee option.
- Appeal
to Cash-Back Preference: Ideal for users who prioritize cashback over
travel rewards, offering a straightforward way to earn money back on
everyday spending.
Capital One's New Savor Card: What You Need to Know
Capital One recently announced an update to one of its most
popular credit cards. Formerly known as the SavorOne card, it has been rebranded as the Savor card. The good news for cardholders is that while the
name has changed, the benefits have not, making it a strong contender for the
best no-annual-fee card available today. Here’s a breakdown of the key changes
and why this card still offers significant value.
1. Rebranding with the Same Great Rewards
The SavorOne card has officially taken on the name
"Savor," but the rewards structure remains unchanged. This can be
confusing because there used to be an older version of the Savor card that has
since been discontinued for new applicants. Now, the card is simply called
"Savor" and continues to offer the same cashback benefits that made
the SavorOne popular.
Category |
Cashback Rate |
Groceries |
3% |
Dining |
3% |
Entertainment |
3% |
Streaming Services |
3% |
Capital One Travel (hotels & rentals) |
5% |
Capital One Entertainment |
8% |
Note: The grocery category excludes certain superstores like
Walmart and Target.
2. New Card Design
The rebranding also comes with a new card design, though
some might find it less visually appealing than the previous version. While the
aesthetics of a credit card may not matter to everyone, the updated look is now
part of the package.
Existing cardholders won’t receive the redesigned card
immediately. It will be mailed out upon the expiration of the current card,
which could be up to two years away for some. There's an option to request the
new card design sooner, but it isn’t necessary as the rewards remain
consistent.
3. A Generous Limited-Time Welcome Bonus
Capital One is currently running a limited-time promotion
for new Savor card applicants. For those who spend $500 within the first
three months, a $250 cashback bonus is offered. This is an
improvement over the usual $200 bonus for the same spending requirement, making
now an especially advantageous time to apply for the card.
Requirement |
Bonus Offered |
Spend $500 in first 3 months |
$250 cashback bonus (limited-time offer) |
Regular Bonus |
$200 cashback bonus |
4. No Foreign Transaction Fees
For frequent travelers, the card's lack of foreign
transaction fees is a significant advantage. Many cards charge up to 3% for
international purchases, but the Savor allows for cash back on dining and
grocery purchases abroad at the same 3% rate as domestic transactions, without
the extra cost.
5. 0% Introductory APR Offer
Another feature worth noting is the 0% introductory APR
for the first 15 months on both purchases and balance transfers.
However, there is a fee associated with balance transfers, so it’s essential
for cardholders to consider this when planning any transfers. Additionally,
carrying a balance could affect one's credit score, so it's best to use this
feature strategically.
APR Offer |
Details |
Introductory APR |
0% on purchases and balance transfers |
Duration |
First 15 months |
Balance Transfer Fee |
Applies to each transfer |
Regular APR After Intro Period |
Varies based on creditworthiness |
6. Comparisons to Other Cards
Compared to other popular credit cards, the Savor holds its
own. The American Express Gold card, for example, offers similar rewards
for dining and groceries but comes with a hefty $325 annual fee.
Meanwhile, the Citi Premier card charges a $95 annual fee for
similar cashback opportunities. For those who prioritize no-annual-fee cards
and straightforward cashback rewards, the Savor is a better choice.
Card |
Annual Fee |
Cashback/Rewards Rate |
Capital One Savor |
$0 |
3% (groceries, dining, entertainment) |
American Express Gold |
$325 |
4x points on dining and groceries |
Citi Premier |
$95 |
3x points on dining and groceries |
The Savor card is especially appealing to individuals who
prefer cash-back rewards over travel points. While some other cards may offer
higher rewards on specific categories, they often come with annual fees or
restrictions on redeeming points for cashback. The Savor's consistent cashback
structure without additional costs gives it a clear edge.
7. Taking Advantage of the Current Offer
For those considering the Savor card, now is an ideal time
to apply, thanks to the limited-time $250 cashback bonus. It's a great entry
point into Capital One’s rewards system, especially for new cardholders who may
eventually want to explore other Capital One cards, such as the Venture
series. The cashback earned on the Savor can even be converted to miles for
travel rewards if paired with a Venture card.
Conclusion
Capital One's rebranded Savor card retains the best
qualities of the SavorOne, offering excellent cashback rewards across several
everyday spending categories without an annual fee. The limited-time welcome
bonus, coupled with benefits like no foreign transaction fees and a 0% intro
APR, makes it one of the most appealing no-annual-fee credit cards on the
market.
Whether you are a frequent traveler, a cash-back enthusiast,
or someone looking for a versatile credit card with great rewards and no annual
cost, the Savor card delivers on all fronts. Consider taking advantage of the
current bonus offer to maximize the value you get from this card.