Capital One is a popular financial institution that is loved for its competitive offerings. Whether you want a loan or a credit card, Capital One can always meet your needs.
Its credit card offers are difficult to match, and they all come with great perks. For instance, many of them come with no annual fee.
If you want a credit card that does not cost you anything, keep reading. We will introduce you to the many perks of the Capital One SavorOne credit card!
Fees and Interest
First of all, the SavorOne credit card does not come with an annual fee. Another great perk is that there is 0% APR for the first 15 months after you open your Capital One account.
After that, the APR is variable and can range from 15.49% to 25.49%, according to your credit score. A higher credit score will result in a lower APR. The same APR range applies to transfers.
For cash advances, there is an APR of 25.49%, but this is also variable and fluctuates according to the Prime Rate. It is worthwhile to remember that there are no interest charges if you cover your outstanding balance within 25 days after the billing cycle.
In terms of transaction fees, there is a 3% fee on transferred balances, but that is only for the balances transferred at a promotional APR. If you make your transfer at the normal transfer APR, there is no fee incurred.
For each cash advance, you have to pay either 3% or $10, whichever is higher. If you are late on your payments, you need to pay up to $39 as a penalty fee. There is no foreign transaction fee.
How to Apply
The Capital One SavorOne card comes with exclusive perks, and its criteria match this exclusivity. If you want to be considered, you should have a minimum credit score of 670. However, an excellent score of higher than 700 will make you more likely to qualify.
Furthermore, you should have had a loan or credit card with a credit limit or a loan amount greater than $5,000 for a minimum of three years. They also tend to reject people who paid their medical bills, credit cards, or loans more than 60 days late within the past year.
It is also important not to have defaulted on a loan or declared bankruptcy before. These are only a few criteria that will surely be considered, but others might count, as well.
Applying for a Capital One credit card has never been easier. You can do so online by accessing the Capital One website and filling out the form.
Some of the information required includes your name, SSN, proof of US citizenship, and financial information regarding your income, expenses, and employment status.
Bank Contact Details
Capital One’s headquarters are located at 1680 Capital One Drive, McLean, VA 22102-3491.
If you want to contact them regarding any of their financial products, you can simply call 1-800-655-2265, which is their customer service line.
Alternatively, their mailing address is P.O Box 180, St. Cloud, MN 56302-0180.
Features and Benefits
One of the top perks of the Capital One credit card is the fact that it is a rewards card. In other words, you earn 3% cashback on any dining expenses and 2% cashback on groceries. Any other expenditures will earn you 1%.
There is no limit on how much cash back you can earn. There are plenty of options to redeem the cashback rewards, and you can choose any amount you wish.
Another great feature of this cashback reward is that it never expires, so you can use it or save it according to your preferences.
Furthermore, the card has no annual fee and no transaction fee. It is great if you have current balances, as the 0% APR on balance transfers means that you have plenty of time to pay off any balance on another card.
Furthermore, 0% APR on purchases for the first 15 months means that you can make large purchases without having to pay any interest!
This Capital One credit card is an excellent card with no annual fee. While it does require an excellent credit score, it comes with plenty of perks that make it a great deal.
If you are interested in other great credit card options, take a look here.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.