Capital One SavorOne (Now Savor) Review | BEST No Annual Fee Card?

Summary

The Capital One Saver Cash card is presented as one of the best no-annual-fee credit cards, especially in key spending categories like groceries, dining, and entertainment. The card earns 3% back on these categories, making it competitive with cards that charge annual fees. The video highlights its limited-time $250 welcome bonus and additional benefits like no foreign transaction fees and the ability to pair with Capital One Venture cards for enhanced travel rewards. However, potential downsides include the difficulty in working with Capital One and the triple credit inquiry upon application. Overall, the card is highly recommended for its value and flexibility.

Takeaways

• 😀 Capital One has refreshed its Saver One card, now called the Capital One Saver Cash Card.
• 😀 The card offers one of the best no annual fee options, especially for dining, entertainment, and grocery categories.
• 😀 It earns 3% cash back on grocery stores, dining, entertainment, and popular streaming services.
• 😀 The card is competitive with annual fee cards like the Citi Premier and Amex Gold, especially in these spending categories.
• 😀 A major con is dealing with Capital One’s customer service, which has been known for high fees and high interest rates.
• 😀 Capital One typically pulls credit from all three bureaus, impacting your credit score across Experian, Equifax, and TransUnion.
• 😀 The refreshed card now includes a $250 welcome bonus after spending $500 in the first 3 months, a significant increase from the previous $200 offer.
• 😀 The welcome bonus represents a 50% return on the first $500 spent, making it a valuable offering.
• 😀 In addition to the 3% categories, the Saver Cash card also earns 5% back on hotels and rental cars booked through Capital One Travel.
• 😀 The card has no foreign transaction fees, making it a strong travel card with a low annual fee.
• 😀 When paired with a Capital One Venture card, the Saver Cash card’s rewards can be transferred to travel partners, increasing their value by 80%.

Q & A

What are the main earning categories of the Capital One Saver Cash Card?

The Capital One Saver Cash Card earns 3% back on grocery stores, dining, entertainment, and popular streaming services. It also offers 5% cash back on hotels and rental cars booked through Capital One Travel, 8% on Capital One Entertainment, and 1% on all other purchases.

How does the Capital One Saver Cash Card compare to other credit cards with annual fees?

The Saver Cash Card is particularly strong compared to cards with annual fees because it offers 3% back on significant categories like groceries and dining with no annual fee, which is rare for a no-fee card. It goes head-to-head with annual fee cards like the Citi Premier and American Express Gold Card.

What is the new welcome offer on the Capital One Saver Cash Card?

The new welcome offer is $250 in cash back after spending $500 on purchases in the first 3 months, which is an improvement over the previous offer of $200. This offer provides a 50% return on the first $500 spent.

What is the value of the welcome bonus compared to earnings in the 3% categories?

Earning $250 through the welcome bonus would typically take $8,300 spent in the 3% earning categories. Therefore, the bonus gives you significant value upfront, ahead of what you could earn through regular spending.

Does the Capital One Saver Cash Card have foreign transaction fees?

No, the Capital One Saver Cash Card does not have foreign transaction fees, which is rare for a card with no annual fee, making it a great travel card.

How can the Capital One Saver Cash Card be combined with other Capital One cards for greater value?

The Saver Cash Card can be paired with Capital One Venture cards, like the Venture X, to convert the cash back into Capital One miles. These miles can then be transferred to travel partners, often increasing their value by 80%, making the card even more beneficial for travel rewards.

What is the Capital One Duo, and why is it considered a good combination?

The Capital One Duo refers to pairing the Capital One Saver Cash Card with a Venture card (such as the Venture X). This combination is considered great because it allows you to convert cash back into miles, which increases the value of your rewards, especially for travel.

What are the application rules for Capital One credit cards?

Capital One typically restricts you to one new card every 6 months across both personal and business cards. They also limit you to two personal Capital One cards. However, these rules have relaxed recently, and Capital One offers a pre-approval tool to check if you're likely to be approved before applying.

What is the impact of applying for a Capital One card on your credit score?

Capital One usually pulls credit reports from all three bureaus, which can temporarily impact your credit score. However, credit inquiries generally do not affect your score for long, and it often returns to normal or even higher within a few months.

How does the Capital One Saver Cash Card benefit travel enthusiasts?

The Capital One Saver Cash Card is great for travelers because it has no foreign transaction fees and can be paired with Capital One Venture cards to earn miles that can be used for travel. The value of those miles can be enhanced by transferring them to travel partners like airlines and hotels.