Monday, 23 December 2019

Capital One Savor One Credit Card - $150 Signup Bonus $500 Referral Bonus 3% Cashback on Dining and Entertainment

Capital One Savor One Credit Card


The Capital One SavorOne Cash Rewards credit card is exceedingly good value if you like the idea of cashback rewards. The cashback rewards on offer and the initial bonus makes it worth having this cashback rewards credit card firmly rooted in your wallet. 

There is a lot to like about the Capital One Savor One Credit Card. If you've maxed out the benefits on your other Cashback rewards credit card then this credit card should be next on your list. 

The benefits of the Capital One Savor One Credit Card include a respectable $150 cash bonus reward after you spend $500 on purchases within 3 months of opening the account. You can earn an unlimited 3% Cashback rewards on dining and entertainment and much more. 

Cashback rewards communities such as those on Reddit and Nerdwallet.com love this credit card and have it in their top 10 best cashback rewards credit card. Bottom line, this is a credit card you should have if you enjoy the buzz of making money from cashback rewards credit cards!




Bonus 1: The Capital One Savor One Credit Card gives you $150 in cash bonus after you spend $500 in the first 5 months. 

Bonus 2: The Capital One Savor One Credit Card gives you 3% cashback on dining and entertainment. You also get 2% Cashback at most grocery stores and 1% cashback on everything else. This is a very competitive card compared to its peers and well worth making an application for.

Bonus 3: On top of the cashback and the cashback bonus you get a an amazing 15 month interest free period on Balance Transfers and Purchases. You only have to pay a 3% balance transfer fee which makes it ideal if you want to move a balance and save money on interest payment. Like I said, there is a lot to like about this card!


Capital One Savor One Credit Card FICO Requirements


We've established that this is an exceptionally good card if you like cashback rewards and cashback bonuses. But before you chance it and apply you should know the FICO requirements. 

The bare minimum requirements to apply for the Capital One Savor Credit Card is 680 FICO Points, this is the absolute minimum you must have and it doesn't mean you'll be approved. 

To have a very good chance of approval you must aim to have a FICO score of 700+, this should guarantee you get approved providing you have a respectable credit utilisation ratio and you have no nasty surprises on your credit report.

Don't chance it! Get your credit score from a credit reference agency and if you don't have a 700+ Fico score you should spend 6 months to a year improving your credit, trust me this investment in time will be life saving in terms of the opportunities it will open for you.


Capital One Savor One Credit Card Features

I love to analyse all kinds of credit cards, it gives me a buzz.

I really enjoyed analysing all the features and benefits of the Capital One Savor One Cred Card and it has a lot to offer, especially if you're looking for another card to compliment your cashback rewards credit card. 

Here are some of the best features worth mentioning which makes it worth applying for the Capital One Savor One Credit Card.

Feature 1: Within 3 months you need to spend $500 using the Capital One Savor One Credit Card and get $150 in cash bonus. 

Feature 2: If you love dining or entertainment you can get 3% cashback when you use the Capital One Savor One Credit card. 

I've read on Reddit where cashback experts have started a events business using this cashback reward card and are cleaning up all the way to the bank, they are making a killing.

Feature 3: Another exceptional feature about the Capital One Savor One Credit Card is there are no rotating categories or boring signups you need to contend with. You just have to go with the flow and spend with this cashback rewards credit card.

Feature 4: No one likes it when cashback rewards expire, it's bloody infuriating. Fortunately, with the Capital One Savor One Credit Card the rewards never expire as long as the account is open. Every little helps.

Feature 5: Get a stonking 15 months interest free period on purchases and balance transfers. The fee on the balance transfer on the Capital One Savor One Credit Card is only 3% so you could save a lot of money if you're paying interest elsewhere!

Feature 6: If travelling is your thing the Capital One Savor One Credit Card should be right up your street. There are no Foreign Transaction Fees, so you can travel the world without worrying about nasty fees. 

Feature 7: You can make even more money with the Capital One Savor One Credit Card using the referral bonus. Refer someone to this card and when they signup you'll get $100 in referral bonus. You can refer 5 people a year and make $500 quite easily with your professional network.


Maximizing Capital One Savor One Credit Card


There is a lot to like about the Capital One Savor One Credit Card which is why cashback enthusiasts have this firmly nestled in their wallet. 

You can make a lot of money with this cashback credit card and experts over at Reddit have demonstrated how they make over $3000 using this credit card alone. 

If you're like me and like the idea of absolutely maximizing the rewards from cashback credit cards you should continue reading.

Here are some strategies to maximise the cashback rewards. All of these strategies are legal and you could end up making thousands every year. Sweet.

Strategy 1: First things first, take advantage of the $150 cashback reward on offer. Just spend $500 using the Capital One Savor One Credit Card within the first 3 months. It's an easy no-brainer way of making 150 quick ones.

Strategy 2: Shift all the debt you are paying interest on to the Capital One Savor One Cashback credit card. You will get 15 months interest free credit by only paying a small 3% fee. 

The amount you save in interest will more than offset the balance transfer fee and you'll save a lot of money and buy some time. Simple!

Strategy 3: Refer 5 people in your professional network to the Capital One Savor One Credit Card and get $100 per successful referral. You can make up to $500 every year through your referral bonus. It's easy and takes little time and you make 500 big ones.

Strategy 4: Get additional cardholder cards (from Capital One Savor One) and allow responsible family members to use the card and pay off the balance in full every month. This way you can take advantage of other people's spending.

Strategy 5: This maybe slightly far fetched, a lot of cashback connoisseurs have tried this over on Reddit. This strategy works by opening an events business and then using the Capital One Savor One Credit Card to spend on dining and entertainment. 

You can really cleanup on the 3% cashback on offer and there is no limit to how much you can earn. This is a beautiful strategy.

Strategy 6: Just use the Capital One Savor One Credit Card on all your expenses to earn another 1% cashback reward. It might seem paltry but it does add up I kid you not! 


Capital One Savor One Credit Card FAQs


I'm always getting questions about the Capital One Savor One credit card so I thought it would be useful to create a FAQ on this exceptional cashback credit card. Here are 18 of the most frequently asked questions for the Savor One.

Q1: What credit score do you need for Capital One savor?

The bare minimum FICO score you need to apply for the Capital One Savor One Credit card is 680. To be certain of approval you should aim for a FICO score of 700+ and ensure your credit utilisation is not too high and there are no nasty fraud markers on your credit report.

Q2: Is Capital One savor hard to get?

The Capital One Savor is hard to get because you need a credit score of 680+ as a bare minimum. You need Excellent Credit status to be approved for this cashback credit card. It is hard to get the Capital One Savor but not impossible. Just work on your credit score and within 6 to 12 months you realistically build your FICO credit score to 700+.

Q3: Does Capital One use FICO?

Capital One offers a free credit score to everyone, however, it does not use FICO scores and uses it's own score called Capital One Creditwise Vantage Score 3.0. This is very similar to a FICO score but it is not the same.

Q4: Is Capital One savor a good credit card?

The Capital One Savor is a good credit card and it is especially suited to credit card users who spend a lot of money on dining and entertainment because of the 3% cashback rewards on offer. 

You can earn $150 in cashback rewards when you spend $500 in the first 3 months. You can also earn $500 by referring 5 people to Capital One Savor One Credit Card. You also get 3% on food/entertainment, 2% on grocery and 1% on everything else. The Capital One Savor is a GOOD card.

Q5: Can I upgrade my Capital One card?

You can upgrade your Capital One Savor One Credit Card if your account is in good standing and your credit score has improved over time.

All you have to show is you are managing your money effectively and you can request a upgrade to your credit card. Just call customer service and present your case, you should also ask for a credit limit increase while you're requesting an update and kill 2 birds with one stone.

Q6: Is savor one better than Quicksilver?

Capital One Savor One Credit card is better for people who spend a lot on dining and entertainment. The Capital One Quicksilver is better for individuals who want to earn cashback rewards at a flat rate. Both have their own perks and it depends on the person and their preferences.

Q7: Are Capital One cards Visa or MasterCard?

Capital One is a bank. Visa and MasterCard are card networks which process the payments made. Capital One uses both Visa and MasterCard depending on the card in question.

Q8: What does capital one consider entertainment?

Capital One places the entertainment category under items such as theme park, bowling alley, pool hall, dance club, aquarium, zoo, tourist attraction, concert, buying tickets to a movie etc etc. If you're not sure about a particular category just give Capital One Savor One credit card a call.

Q9: What is Capital One highest credit limit?

Credit card experts point to the Chase Sapphire Preferred cardholders with a FICO credit score of 700 or more have the highest credit limits. 10% of cardholders have credit limits above $20,000, the average credit limit for the Chase Sapphire Preferred card is around $10,000.

Q10: Can I have two Capital One credit cards?

You can have more than one Capital One credit cards. Firstly, you should get approved for your first Capital One credit card. Once you've established you can manage your credit card account effectively you can apply for another credit card from Capital One.

Q11: Does Capital One have a referral bonus?

The Capital One Savor One credit card has a very lucrative referral program. You will get $100 for a successful referral and you can earn up to $500 a year for referring a maximum of 5 people. You can continue referring 5 people every year to earn $500 per year. This is a simple but effective way to earn $500 every year. 

Q12: How do I refer a friend to Capital One?

To refer a friend to a Capital One Savor One Credit card you must log into your credit card account and search for refer a friend. You will find a referral link which you can send to your friend and they must use that link to sign up. It is very simple to find the referral link and it takes about 10 minutes to apply for the Savor One Credit Card.

Q13: How do I redeem my Capital One savor points?

To redeem your Capital One Savor Points you must log into your Savor Account. Scroll down to Redeem Rewards. You can choose to redeem a purchase, redeem a gift or to credit your account. The process is very simple.

Q14: Do Capital One Rewards expire?

Your Capital One Rewards remain active and will never expire as long as your Capital One Savor One Credit Card account remains open. If you are thinking of closing your account you must redeem or transfer your points.

Q15: Which Capital One card is the best?

Most cashback rewards credit card agree the following...

Capital One Venture Reward Credit Card is the best for travel.

Capital One Quicksilver Cash Rewards Credit Card is best for cashback.

Capital One Spark Cash for Business is best for small to medium sized business.

Capital One Journey Student Rewards is best for college goers.

Q16: How often does Capital One increase your credit limit?

You can make a request to increase your Capital One Savor One credit card as ofter as you like, however, Capital One will only increase your credit limit every 6 months. If you've recently had your credit limit increased you much wait for another 6 months.

Q17: Does Capital One increase credit limit automatically?

You must make a request to increase your credit limit for the Capital One Savor One credit card. 

Q18: Which card is better Capital One Quicksilver or platinum?

Capital One Savor One credit card is better for people who like entertainment and eating out whereas the Capital One Quicksilver is better for people who want a flat rate for their cashback spending. Think carefully before you decide which card is best for you.

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