Discover it Cash Back vs. Discover it Student Cash Back: Which is best for you?

If you’re a student shopping for your first credit card, or a parent comparing cards on your kids’ behalf, you may be wondering whether to apply for a card that’s designed specifically for college students, or if you should stick with a more general credit card.

The answer depends, in part, on what kind of student card you’re considering, how old a student is and what limits you want to set. Discover, for example, offers a student cash back card, the Discover it® Student Cash Back card, that’s not too different from Discover’s flagship cash back card. However, its terms are more restrictive, and it includes a slightly higher APR and less generous introductory APR.

The Discover it® Cash Back card, in contrast, offers a bigger credit limit than you’ll get on the student version and a more generous promotion, including a 0% intro APR for 14 months on purchases and balance transfers (then a variable APR of 11.99% to 22.99%). But it doesn’t have as many safeguards as the Discover it Student card, so students could potentially get into bigger trouble with it. Young adults new to credit are also unlikely to qualify for the Discover it Cash Back card. Discover doesn’t allow co-signers, so a student would need to have a significant credit history and income to qualify.

Discover it Cash Back vs. Discover it Student Cash Back

Card Discover it Cash Back
Discover it® Cash Back

Discover it® Student Cash Back
Rewards rate
  • Enroll every quarter to earn 5% cash back in rotating categories (up to $1,500 per quarter)
  • 1% cash back on other purchases
  • Enroll every quarter to earn 5% cash back in rotating categories (up to $1,500 per quarter)
  • 1% cash back on other purchases
Sign-up bonus Matches your cash back at the end of the first year

Matches your cash back at the end of the first year

Annual fee $0 $0
Estimated rewards value in first year ($1,325 monthly spend) $442 $398

Introductory APR

Again, the Discover it Cash Back has a 0% intro APR for 14 months on new purchases and balance transfers, though there is a 3% balance transfer fee (and future balance transfer fees can go up to 5%). The Discover it Student also has a 0% intro APR, but only for six months on new purchases, then the regular variable APR will rise to 12.99% to 21.99%.

For parents who fear their child will spend a lot with the freedom of plastic, forget payment deadlines and carry debt, the longer intro APR on the Discover it Cash Back makes more sense. However, the shorter intro APR and higher regular APR on the Discover it Student card are also strong deterrents to students who’ve never had a credit card before and may end up training them to have better payment habits.

If the thought of your student amassing a huge debt without your knowledge terrifies you, you could always apply for the Discover it Cash Back card yourself and add your kid as an authorized user. Discover doesn’t allow co-signers, but it does allow authorized users. As an authorized user, even if account holder bears the responsibility for payment, you could build credit history and increase your credit score. It also gives kids an opportunity to earn a significant amount of cash, without the risk of owning their own card.

Annual fee

Good news: Both the Discover it Cash Back and the Discover it Student Cash Back have no annual fee, which is good for students considering education these days is getting more and more expensive. For either card, you’ll earn a solid amount of cash back without paying anything for the card itself.

Other perks

Discover it Cash Back

Discover it Student Cash Back

  • Choose your credit card color or design
  • Free FICO credit score
  • No late fee on cardholders’ first payment
  • No foreign transaction fee
  • Free Social Security alerts
  • Free Experian credit monitoring
  • Ability to freeze account in seconds
  • Choose your credit card color or design
  • Free FICO credit score
  • No late fee on cardholders’ first payment
  • No foreign transaction fee
  • Free Social Security alerts
  • Free Experian credit monitoring
  • Ability to freeze account in seconds

Both cards have other benefits that suit students incredibly well including viewing your FICO credit score for free on the Discover account, no late fee on your first late payment and no foreign transaction fee, in case you decide to spontaneously visit your friend studying abroad. If you lose the card or it gets stolen (anything can happen at school), you can easily freeze it until you have time to report the loss and request a new card.

Discover it Student Cash Back: Best for undergrads and credit newbies

If you’re still in college and under 21, then you won’t qualify for either card unless you can prove you earn an independent income. The Credit CARD Act of 2009 requires underage cardholders to show they have enough income coming in to afford their own card, or they need to get a co-signer to help out. Since Discover doesn’t allow co-signers, and if you’re determined to be the cardholder (versus an authorized user), you’ll have to look elsewhere if you’re underage and don’t have a part-time job.

Nevertheless, the Discover it Student Cash Back is one of the strongest student credit cards out there. The 0% intro APR for six months, simple rewards structure, late payment fee waiver and no annual fee are all features designed for students who are new to credit. The credit limit on the Discover it Student is also likely to be fairly low, preventing students from significantly overcharging.

Discover it Cash Back: Best for grad students or people who live off campus

In contrast, the Discover it Cash Back suits grad students or upperclassmen who live off campus – people who earn more and spend more. The card awards larger credit limits, but you must have a good or excellent credit score and, therefore, some credit history, to be approved. Unlike the Discover it Student card, this is a card you can use regularly for everyday purchases, considering the Discover quarterly bonus categories calendar. The categories include gas stations, grocery stores and Target, which students who live on campus are unlikely to charge.

The gas and grocery categories perfectly suit those who commute to school or eat at home every day, rather than those with a campus meal plan.

Bottom line

For most young students, the Discover it Student card is a clear winner. Students without any credit history are not only more likely to qualify for it, but the card’s strong limits also make it more difficult for them to rack up a lot of debt.

The Discover it card, by contrast, is more difficult to get and riskier. However, it’s also more flexible and potentially more lucrative since it gives cardholders more room to charge new purchases, earning greater rewards. Older students and those who live off campus may also get more out of the Discover it card since it offers bonus cash back on purchases they’re more likely to make, such as gas and groceries.

Source: creditcards.com

Citi Custom Cash vs. Bank of America Customized Cash Rewards card

The Citi Custom Cash℠ Card and Bank of America® Customized Cash Rewards credit card are two cash back credit cards that offer a unique way to earn rewards. Instead of earning specific rates in specific categories, you decide which categories earn you bonus cash back. This is a great feature because it puts you in control of earning extra rewards through your credit card spending.

Citi Custom Cash vs. Bank of America Customized Cash Rewards

To help us compare some of the key features of the Citi Custom Cash card and the Bank of America Customized Cash Rewards card, the key highlights are included in this table:

Card

Citi Custom Cash℠ Card

Citi Custom Cash℠ Card

Bank of America® Customized Cash Rewards credit card

Bank of America® Customized Cash Rewards

Rewards rate
  • 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, then 1%
  • 1% cash back on all other purchases
  • 3% cash back in one category of your choice (gas, online shopping, dining, travel, drugstores, or home improvements and furnishings)
  • 2% cash back on grocery store and wholesale club purchases
  • $2,500 combined spend limit on 2% and 3% categories each quarter
  • 1% cash back on other purchases
Welcome bonus $200 (20,000 ThankYou points) after spending $750 in first 3 months of account opening $200 if you spend $1,000 in first 90 days of account opening
Annual fee $0 $0

Earning cash back

Both the Citi Custom Cash card and the Bank of America Customized Rewards card allow you to earn cash back after spending on the card. Both cards also allow you some control over the categories where you’ll get bonus rewards.

Regular rewards

The Citi Custom Cash earns 5% cash back on purchases in your top eligible spend category each billing cycle, on up to the first $500 spent, then 1% cash back. All other purchases earn 1% cash back.

There are other cards that offer 5% cash back, but most of those have rotating quarterly categories set by the credit card issuer, such as Discover’s rotating bonus categories. Some quarters, it might work great for you, but in other quarters you might find it hard to get much benefit. The Citi Custom Cash card is the first card that offers 5% cash back on the category in which you spend the most. You don’t need to set your 5% category through your account – you’ll automatically earn 5% cash back on purchases in whichever category you spend the most that month, on up to $500 in spending.

It’s important to note that the cash back you earn with the Citi Custom Cash is paid in the form of ThankYou points. This makes the Citi Custom Cash card even more exciting due to the flexibility of ThankYou points. You can always redeem your ThankYou points for cash at a rate of 1 cent per ThankYou point, but you can also combine your ThankYou points with points earned from other Citi credit cards (like the Citi Premier® Card) for added value, and then redeem them by booking your next trip on the ThankYou rewards center.

On the other hand, the Bank of America Customized Rewards card allows you to choose which category earns bonus rewards. You’ll earn 3% cash back on a category of choice (gas, online shopping, dining, travel, drugstores or home improvements and furnishings), 2% cash back on grocery store and wholesale club purchases and 1% cash back on other purchases. But there’s a catch: the 2% and 3% bonus categories are limited to a combined total of $2,500 in spending each quarter.

The Bank of America Customized Cash card is also part of Bank of America’s Preferred Rewards program. This can be a way to supercharge the rewards rate you earn with your credit card. How much cash you have in deposit with either Bank of America or Merrill affects your Preferred Rewards program tier, which in turn could boost your rewards rate.

Those who qualify for the highest tier, the Platinum Honors level, must have at least $100,000 on deposit, but they get a 75% bonus on all cash back they earn with the Customized Cash Rewards card. That means you’ll essentially earn 5.25% cash back in the category of your choice and 3.5% at grocery stores and wholesale clubs.

Sign-up bonus

When comparing the Citi Custom Cash versus the Bank of America Customized Rewards cards, the two cards have very similar sign-up bonuses.

The Citi Custom Cash is currently offering $200 (awarded as 20,000 ThankYou points) after spending $750 in the first three months of having the card.

The Bank of America Customized Rewards has a welcome offer of $200 if you spend $1,000 in the first 90 days of having the card.

While the spending threshold on the Bank of America Customized Rewards card is slightly higher, both welcome offers give the same bonus amount and relatively easy to obtain.

Redeeming cash back

Both the Bank of America Customized Rewards card and the Citi Custom Cash card allow you to redeem your cash back for checks, direct deposit or as a statement credit. Getting your cash as a statement credit is probably the simplest way to redeem your rewards, and there is no minimum amount to redeem for a statement credit.

As we mentioned earlier, with the Citi Custom Cash card, your cash back is actually paid out in the form of Citi ThankYou points. You can combine the ThankYou points you earn using the Custom Cash card with ThankYou points you earn with other Citi credit cards like the Citi Premier. This opens up another avenue to redeem the rewards you earn. At a rate of 1 cent per point, you can use your ThankYou points for travel or transfer them to Citi’s hotel and airline travel partners.

Since the Citi ThankYou points can be redeemed in a variety of ways, they are slightly more valuable than the Bank of America Customized Rewards’ cash back that are limited to only a few redemption options.

Other perks

The Citi Custom Cash card and Bank of America Customized Cash Rewards card are both very basic credit cards. They do not have a ton of other perks and benefits. One great feature is that both cards come with no annual fee. The Customized Cash Rewards card does offer an introductory 0% APR for 15 billing cycles for new purchases as well as balance transfers made within 60 days of opening the account, then 13.99% to 23.99% variable APR thereafter.

The Citi Custom Cash also offers a 0% intro APR for 15 months on both new purchases and balance transfers, as long as the balance transfers are performed in the first four months of account opening. Then the regular APR will be a variable 13.99% to 23.99%.

Citi Custom Cash Card: Best for lower spenders or those with very focused spending

The 5% cash back you earn with the Citi Custom Cash is limited to only the first $500 in spending each month. Any spending above that amount or in categories other than the one in which you spend the most only earns 1% cash back. Since 1% cash back is a fairly low cash back rate, it makes sense to focus your spending on the Custom Cash card in only one category each month, up to the $500.

Others who might consider the Citi Custom Cash card are those who have several different credit cards. If you plan to pair several credit cards, it may not be a big deal to spend in one category on the Citi Custom Cash card each month to snag the 5% rewards. If you can maximize the 5% rewards category each month, that’s an extra 30,000 ThankYou points or $300 each year.

Bank of America Customized Cash Rewards: Best for those with large deposit or investment accounts

Because of the power of the Bank of America Preferred Rewards program, the Bank of America Customized Cash Rewards is best for those who can deposit at least $100,000 with either Bank of America or Merrill. This will give you Platinum Honors status with Preferred Rewards and a 75% bonus on all rewards that you earn with the Customized Cash Rewards credit card. You’ll then earn 5.25% cash back in the category of your choice and 3.5% at grocery stores and wholesale clubs.

Even if you don’t have $100,000 to put away in a Bank of America account, at least $20,000 or $50,000 will also respectively qualify you for the Gold or Platinum tier. Though the increased rewards on those are lower, at 25% for Gold and 50% for Platinum, the Preferred Rewards does make the Customized Cash Rewards a more attractive option. If you don’t participate in the program at all, you only earn 2% and 3% in qualifying categories up to $2,500.

Bottom line

The Bank of America Customized Cash Rewards and Citi Custom Cash cards are both cash back credit cards that allow you to choose the spending categories where you can earn bonus rewards. If you know exactly which category you spend the most in, gas or dining or online shopping, the Customized Cash Rewards might be the better move – especially if you already have a good sum in a Bank of America or Merrill account to help boost your rewards.

For those who don’t spend as much or use multiple credit cards at a time to maximize rewards, the Citi Custom Cash card is also an excellent choice. Though the spend limit for the 5% cash back is rather low at $500, the Citi ThankYou points may be redeemed in so many ways, it gives the Custom Cash an extra edge in the competition. Both cards come with no annual fee, making them excellent cash back cards to consider. Which one is right for you will depend on your own specific spending habits.

Source: creditcards.com

[Expired] Bilt Rewards: Earn 5x On All Purchases (Excluding Rent)

Deal has ended, view more Bilt deals by clicking here.

The Offer

Direct link to offer

  • Bilt Rewards is offering 5x on all purchases. Maximum of 50,000 points

The Fine Print

  • Qualifying transactions can be made in person or online, and remember you always have access to your digital Bilt Card in the Bilt Rewards app.
  • The following types of transactions will not count as a Qualifying Purchase for this promotion: balance transfers; cash advances; purchase of travelers’ checks, foreign currency, money orders, wire transfers or similar cash-like transactions; purchase of lottery tickets, casino gaming chips, race track wagers or similar betting transactions; writing or cashing checks; unauthorized or fraudulent charges; gift cards and other cash-like instruments.
  • See all promotion terms and conditions here.

Our Verdict

Will be interesting to see how tolerant Bilt is towards manufactured spending for this promotion, terms do specifically exclude cash like purchases and gift cards. Bilt recently made significant changes to make the card and program better. If you don’t already have the card you can apply and then the digital version is  available in the Bilt Rewards app instantly.

Source: doctorofcredit.com

What is a balance transfer and how does it work?

If you’re dealing with pricey credit card debt, a balance transfer could be a useful tool in your debt reduction strategy. A balance transfer is the process of moving high-interest debt from one or more credit cards to a credit card with a lower interest rate.

A good balance transfer credit card can help you pay off debt faster, since more of your payments go toward the card’s principal balance each month instead of toward interest charges. It can also save you hundreds, if not thousands, of dollars in interest, given you’ll incur a low or even 0% APR on the transferred balance for a set period of time, usually six to 18 months.

Balance transfers, however, aren’t free. Most issuers charge a balance transfer fee, and there are other factors to consider before applying for a low or 0% interest credit card.

Here, we break down how balance transfers work and provide some tips on how to determine if this debt repayment strategy is right for you.

How balance transfers work

You generally apply for a balance transfer when you apply for a new credit card. You can also wait until after you’re approved for the card, though it’s best to get the process started as soon as possible. You’ll need to know the account number for your existing balance and how much you want to transfer.

Your new issuer may approve the full amount or only part of your balance transfer, depending on your credit limit and the issuer’s transfer limits. After the transfer is approved, issuers facilitate a payoff of the existing balance.

Some issuers send payment to the original creditor, while others require you to pay using a furnished balance transfer check. Once the transfer goes through, you’ll make payments to your new creditor.

Balance transfers are not instantaneous. Depending on the issuer and a number of other factors, your balance transfer could take three days to six weeks to complete. And while your credit card issuer should be able to give you a sense of how long it will take, there’s no way to know in advance exactly how long you’ll have to wait for the transfer.

In the meantime, be sure to pay at least the minimum due to your existing creditors. Failing to do so could lead to late fees and damaged credit and could even disrupt the balance transfer in progress.

Should you do a balance transfer?

A balance transfer can be a solid debt-repayment strategy, allowing you to save on interest and chip away at your balance over time, but it’s not the best option for everyone. Consider the following to be sure a balance transfer is right for you:

  • How much do you need to transfer? Even if you’re approved for a balance transfer card, the credit limit you’re offered may not cover the full balance you want to transfer. If your balance is too big to transfer all at once, you’ll have to decide if it’s best to transfer a portion, apply for multiple cards or work with your existing creditors to get a lower interest rate.
  • Do you have a repayment plan? It’s critical that you go into your balance transfer with a plan for how you’re going to pay off your debt and make the most of a card’s 0% introductory APR period or low ongoing APR. Otherwise, you may just find yourself back where you started. Additionally, if you don’t make timely payments, you could lose your 0% APR and may even trigger a penalty APR.
  • What got you into debt? You may be motivated to pay off your debt but if you haven’t addressed what caused you to get into debt in the first place, you might use your new card to create an even bigger balance. What’s worse, you could end up stuck with a high interest rate on your new card once the promotional period ends.
  • Good credit is required to qualify. To take advantage of the best balance transfer offers, you’ll need good to excellent credit. Instead of trying to do a balance transfer with bad credit, consider a debt consolidation loan or focus on paying down your balances as much as possible before you apply to rebuild your credit score and get better terms.

When a balance transfer makes sense

Though the specific terms will vary by credit card or issuer, there are two major benefits to electing for a balance transfer.

  • You can save money on interest. A balance transfer could save you a substantial amount of money. For example, if you were to pay 17% interest on a $2,000 debt making $60 minimum monthly payments, it would take close to four years to pay off the debt. Even worse, it would cost you more than $700 in interest. (Our balance transfer calculator can help you determine how much you could save with a top balance transfer offer.)  On the other hand, if you paid a 3% balance transfer fee ($60) and transferred your $2,000 balance to a card that charges 0% interest for 15 months, you could pay off your debt in 15 months with payments of about $138 per month, saving yourself a substantial sum in interest charges.
  • You can consolidate your debts. Transferring balances to a single low-interest credit card can not only save you money and help you pay off debt, but can also simplify your financial life. If you’re carrying high balances on multiple high-interest credit cards and have a hard time keeping payment due dates and minimum payments straight, you may end up accruing late fees. In that case, putting all your credit card debts on one card can be a good move, since you’ll have just one card to keep track of and one payment to make each month.

When a balance transfer doesn’t make sense

As we mentioned earlier, balance transfers aren’t free. There are important terms and conditions to familiarize yourself with before applying for one. Here are some balance transfer drawbacks to be aware of:

  • Fees are almost inevitable. Balance transfers can be a great way to save on interest and focus on paying down debt, but they come with a cost: You’ll almost always be charged a balance transfer fee, which is a percentage of the total amount you’re transferring. According to CreditCards.com research, the most typical balance transfer fee is 3%, but some cards charge 5%. For example, if your issuer charges a balance transfer fee of 3% and you transfer a $10,000 debt from another card, $300 will immediately be added to your transferred balance, bringing the total amount you owe to $10,300. There are a few credit cards with no balance transfer fee, but the tradeoff is usually a shorter 0% introductory APR period.
  • Promotional balance transfer APRs and transfer rates expire. A balance transfer card may woo you with its super-low or 0% introductory APR offer, but don’t be fooled: That “teaser rate” doesn’t last forever. After a set period – often six months to a year or occasionally more – the interest rate will increase to its regular rate, which could be even worse than the one you were trying to escape. You also don’t want to waste time getting the balance transfer process started. Some cards offer a lower balance transfer fee if you transfer the balance within a set period. If you aren’t proactive, you could end up seeing your balance transfer fee increase, which could cost you hundreds.
  • Multiple balance transfers can impact your credit score. You may think applying for a new balance transfer card when your teaser rate expires is the perfect solution to avoid ever paying interest on your credit card debt. While you can do that, know that multiple card applications can damage your overall credit score. When you continue to open new low-interest accounts but maintain high debt levels, lenders may see you as a risk, which will make it hard for you to borrow money for big-ticket items such as a home or car or even qualify for that second or third balance transfer card deal.

Bottom line

A balance transfer can be a useful tool to pay off credit card debt faster without incurring interest. But there are several things you need to consider to make a balance transfer work for you, including transfer fees and your financial habits.

Before starting a balance transfer, draw up a repayment plan to ensure you will pay off the balance before the introductory APR period ends. Also, avoid incurring more credit card debt. Otherwise, the benefits of a balance transfer may be null.

How to do a balance transfer by issuer

Visit the links below to do a balance transfer with your specific card issuer(s):

  • How to transfer a balance to a Chase credit card
  • How to transfer a balance to an American Express credit card
  • How to transfer a balance to a Discover credit card
  • How to transfer a balance to a Citi credit card
  • How to transfer a balance to a Wells Fargo credit card
  • How to transfer a balance to a Bank of America credit card
  • How to transfer a balance to a Capital One credit card
  • How to transfer a balance to a U.S. Bank credit card

Source: creditcards.com

Credit score required for the Capital One SavorOne Cash Rewards card

The Capital One SavorOne Cash Rewards card is a popular choice for the pandemic-weary consumer who loves to dine out and spend entertainment dollars. The reward for these purchases is 3% cash back, including grocery store purchases. If you were one of those who discovered the joy of cooking for yourself during the that pandemic, this could be a real boon.

The SavorOne card offers the same 3% cash back on streaming services, plus an 8% return through January of 2023 on tickets for sports, concerts and theater events bought through Vivid Seats. All other purchases earn 1% cash back. Rewards can be redeemed at any time for statement credit, check or gift cards.

This card carries a variable APR of 14.99% to 24.99%, but new cardholders can take advantage of 15 months with 0% APR on purchases and balance transfers. A $200 bonus is earned for spending $500 on the card in the first three months. Best of all, this card comes with no annual fee.

Capital One has another card with a similar name – Capital One Savor Cash Rewards Credit Card – but that one does carry an annual fee. We will focus on the Capital One SavorOne Cash Rewards card here.

What credit score do I need to get the Capital One SavorOne Cash Rewards card?

Like many rewards cards, a good to excellent credit score is needed to qualify for SavorOne. This translates to a minimum score of 670 for a good score and 740 to 850 for an excellent one. Applicants’ credit reports should not show a bankruptcy or a defaulted loan, and they shouldn’t have been more than 60 days late on any credit card, medical bill or loan in the last year. Capital One also prefers applicants to have had a credit card for three or more years, with a credit limit of $5,000 or higher.

As always, the higher your score, the better your chances. Remember if you apply for any card, your credit report (and thus, your score) will be impacted. If you are concerned you might not qualify, you can try CardMatch™ to see if you qualify. This is not a guarantee, but it is a good indicator of your chances. Capital One also has their own pre-approval tool you can try. Both options use soft inquiries, so your score is not affected.

How can I improve my score to qualify for it?

Know your score before you apply. If it’s close to the minimum required (670) or below, you’ll want to take steps to improve it first. You’ll have a different credit score at each of the credit bureaus because each has different information about you. The bureaus don’t share information, so it’s best to get a score from each one before applying, to be sure you are over the underwriting minimum. Besides the three bureaus, there are two main scoring companies, FICO and VantageScore. FICO is more commonly used.

Pull your credit reports at annualcreditreport.com to check for errors. You can get reports from each of the credit bureaus – Equifax, Experian and TransUnion – free at this site on a weekly basis through April 2022. If you find negative items you don’t recognize or that are more than seven years old, work through the dispute process to have them removed. If you have to do this, give it some time to be resolved. In the meantime, be sure to pay all your bills on time. Watch your usage on any other credit cards you have and stay below about 25% of your credit limit. If you can get into single digits, even better, because that’s what those with the highest scores do.

You can’t erase any past accurate or timely negative credit reporting items, but you can do things in the present to help your score and improve your odds of being accepted. When you order your credit score, be sure to check out the reason statement (or reason code) that comes with it. These are chosen from more than 100 statements that best describe why your score is not better than it is. The four or five reason statements that come with your credit score will tell you what you can do to improve your score. Concentrate on the top ones and you will be sure to increase your scoring muscle.

For extra help, if you happen to be a renter, look into a rent reporting service. Since most rent payments are not regularly reported to the credit bureaus and housing costs make up a large part of most budgets, having these on-time payments reported can give your score a lift. You can also check out programs like Experian Boost or UltraFICO.

What if Capital One denies my application?

If you are denied, your score may suffer a ding since you won’t have the additional credit available to make up the application inquiry. However, hard inquiries are only listed for two years on your credit report – not like other negative actions like charge-offs that stay for seven years. And the true impact will likely only last for a few months.

One extra note of caution: If you’re already a Capital One customer, you should know Capital One only allows a total of five active cards per customer. So, if you already have multiple cards from Capital One, you may not qualify for this one and will be denied. If your heart is set on getting this card, you might be able to upgrade one of your other Capital One cards to the SavorOne, but upgrading the card will mean you won’t be eligible for the sign-on bonus.

Bottom line

The Capital One SavorOne Cash Rewards Card is a good choice for foodies who spend on groceries, dining and entertainment and want to earn rewards for those purchases – without paying an annual fee. To qualify, you’ll need good to excellent credit.

Source: creditcards.com