Capital One SavorOne card: 8 reasons to apply
Link: Apply now for the Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne card is the next card I intend to ask for. Although the card has been on my radar for a while, the recent perks added to this card have really sealed the deal for me. While you can read a full map reviewbelow I wanted to share eight reasons why I think the Capital One SavorOne is worth it.
In no particular order…
No annual fee
First and foremost, the CapitalOne has no annual fee – not the first year, and not any year after that. Who wouldn’t want to take a card with no annual fee while still offering valuable benefits?
I also think it’s worth pointing out that there is general value in picking up cards with no annual fee. Keeping cards long term can improve your credit score, keeping your credit utilization low and increasing the average age of your accounts. If I’m going to keep cards long term, I’d rather they didn’t have an annual fee.
$200 welcome bonus
The CapitalOne has a $200 welcome bonus after spending $500 in the first three months. That’s a solid bonus for a personal card with no annual fee, although I only consider it icing on the cake, as the main reason you want this card is for its long-term value.
No foreign transaction fees
The CapitalOne has no foreign transaction fees, which is quite remarkable for a card with no annual fee. I know a lot of people want a card with no annual fee that also won’t charge foreign transaction fees for purchases abroad, so this is a great card to consider for that purpose.
This is an area where Capital One leads the industry, as the issuer has no foreign transaction fees on any of its cards.
Excellent 3% cash back bonus categories
The CapitalOne offers compelling bonus categories for cashback card with no annual fee. The card pays out the following, all without a win cap:
- 3% cash back on dining
- 3% cash back at grocery stores
- 3% cash back on entertainment
- 3% cash back with select popular streaming services
- 1% cash back on all other purchases
Free Uber One Membership
This is where the CapitalOne really starting to tempt me. Thanks to a partnership between Capital One and Uberthose who own the card can receive a free Uber One membership valid until November 14, 2024. It usually costs $9.99 per month or $99.99 per year, so it’s great value for a card no annual fee.
As someone who orders food too often through Uber Eats, this is something I would otherwise pay for. It offers the following benefits with Uber and Uber Eats:
- 5% off eligible rides and orders for food, groceries, alcohol, etc.
- Be paired with the best pilots
- An Uber One promise, whereby on qualifying deliveries, you’ll receive $5 in Uber Cash if the latest arrival estimate (shown after checkout) is wrong
- Unlimited $0 delivery charge on qualifying food orders over $15 and grocery orders over $30
- Access to premium member support, special offers and promotions, and invite-only experiences
10% cash back with Uber and Uber Eats
The partnership between Capital One and Uber not only offers free Uber One membership, but it offers another benefit that excites me even more. Until November 14, 2024, the CapitalOne offers 10% cash back on purchases with Uber and Uber Eats.
This is a game changer for me, as it is way better than the rewards I get on these purchases with any other card. Uber Eats is a big household expense for us (especially as new parents who go out a lot less to eat), so that alone is motivation enough for me to pick up the card.
Convert your rewards into Capital One miles
While the CapitalOne is officially a cash back card, it’s even a great card for points lovers. This is because if you have the card in conjunction with a Capital One Venture Cardas the Capital One Venture X Rewards Credit Card (exam), then all rewards earned on the map will be converted to miles.
Specifically, every cash back penny earned with the card can be converted into one Capital One Venture Mile, opening up all sorts of travel possibilities. Personally I value of Capital One miles at 1.7 cents each, so for me that increases the point value significantly.
This means the 3% Cash Back bonus categories can really get you 3x Venture Miles, and the 10% Cash Back with Uber and Uber Eats can really get you 10x Venture Miles.
Incredible Capital One Venture X add-on
The Capital One Venture X has become incredibly popular over the past year, especially with those who enjoy collecting points.
While the Venture X has an annual fee of $395, in reality the card shouldn’t cost anyone that much, given the $300 annual travel credit and 10,000 anniversary bonus miles. In addition, the card offers a Priority Pass subscription, access to Capital One lounges, access to Plaza Premium lounges, great benefits for authorized users, mobile phone protection, rental car insuranceand more.
- It allows you to build up a portfolio of cards to maximize your Capital One miles; this card could help you earn 3 x Venture Miles on restaurants, groceries, entertainment and some streaming services
- Uber One benefits and 10% cash back are only available on the Savor One, not the Venture X
At the end of the line
The CapitalOne is an amazing no-annual-fee card that’s better than ever. The card has long 3% cashback bonus categories with no foreign transaction fees. What makes it even better now is that it offers phenomenal limited-time Uber benefits, including Uber One membership, as well as 10% cash back with Uber.
It is a fantastic addition to Capital One Venture X, as the card allows you to bundle your rewards and turn cash into valuable miles. This is a card I plan to purchase shortly – it offers me tangible value and will also help me maintain a great credit rating.
Anyone else see value in the CapitalOne?