Credit Card Offering, Capital One SavorOne, Makes a Return - Key Information You Need
Capital One has made a significant move in the credit card market by introducing the new SavorOne Rewards Credit Card, designed for those with fair credit. The new card was launched in October 2024, following the renaming of the Capital One Savor Rewards Credit Card to the Savor Cash Rewards Credit Card in the same month.
Unlike its predecessor, the new SavorOne card does not offer a welcome bonus. However, it retains the generous cash back rates that made the old Savor card popular, especially for everyday categories.
The SavorOne card offers 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply), 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target), and 1% cash back on all other purchases. It also provides 8% cash back on Capital One Entertainment purchases.
The old SavorOne card did not have an annual fee, but the new SavorOne Rewards Credit Card comes with an annual fee of $39. For those with fair credit, this modest fee may be worth the rewards on offer.
It's worth noting that the old Savor card required excellent credit to qualify, whereas the new SavorOne card may be accessible to those with a FICO Score of 580 to 669.
Last year, $325 in cash back from the Savor card was converted into 32,500 miles, demonstrating the potential value of the rewards on offer. The SavorOne card offers similar rewards, making it a viable option for those looking for a low-maintenance card with generous cash back rates.
The Savor card, which has made it to the list of the best rewards credit cards, can also be used in tandem with another Capital One card. This combination could potentially provide even more rewards, as demonstrated by a user who used the combined rewards from the Savor card and another Capital One card to book a $715 roundtrip ticket.
When considering a new credit card, it's important to weigh up the rewards on offer against the annual fee and your budget and lifestyle. The SavorOne card may be a good addition to your wallet if you already have another Capital One card and are satisfied with it.
The old Capital One SavorOne has been replaced by the new SavorOne Rewards Credit Card. If your credit isn't in the best shape, you might qualify for the SavorOne card, making it an attractive option for those looking for a card that offers generous rewards without demanding excellent credit.
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