Capital One Savor Cash Rewards Credit Card Credit Score: What Are My Approval Odds?

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The Capital One Savor Cash Rewards Credit Card is one of the best cash back credit cards, especially for dining and entertainment. But how high of a credit score do you need to get approved?

This article will give you an idea of what you can expect your approval odds to be based on your credit score. 

Interested in finding out the top travel credit cards for this month? Click here to check them out! 

Capital One Savor Credit score: What’s Needed?

There are reports of being approved for the Capital One Savor card with credit scores in the mid to upper 600s, so you definitely don’t need a perfect credit score to get approved for the Capital One Savor.

But keep in mind that the applicant there was applying for the old Capital One Savor card and the new version is a more premium product which means it will usually require a higher credit score.

The Capital One Savor card is not a card meant to rebuild your credit so if your score is in the low to mid 600s, it is probably not be for you. But if you’re in the high 600s, you might stand a decent chance.

My advice would be to try to get up above 720 or at least 700 to increase your approval odds for the Savor. In addition, I would try to establish at least a year of credit history with some issuer to increase those approval odds.

Tip: Use WalletFlo to help you optimize your credit cards. It’s free and will help you get approved for some of the best travel cards!

Capital One Savor benefits

The original Capital One Savor was released in the fall of 2017 but it was later re-launched in 2018 and it came with an upgraded package. Here’s what the new and improved Capital One Savor offers:

  • 4% cash back on dining
  • 2% cash back on groceries
  • 1% cash back on everything else
  • Rewards don’t expire for the life of the account, and you can redeem cash back for any amount
  • World Elite MasterCard benefits
  • $95 annual fee
  • No foreign transaction fees

Bonus spending

  • 4% cash back on dining and entertainment
  • 2% cash back on groceries
  • 1% cash back on everything else

The Capital One Savor is one of the best cards for cash back on dining and entertainment with 4% cash back. You have to factor in the $95 annual fee which will obviously cut into the savings but if you spend a substantial amount of money on dining and entertainment then earning that 4% back can most definitely be worth it.

No foreign transaction fees

CapitalOne cards, like Discover cards, come with no foreign transaction fees. This is great if you don’t have a MasterCard with no foreign transaction fees because you’ll be able to take your 4% earnings on dining abroad with you and not have to worry about any issues if they don’t take Visa but do take MasterCard.

Drawbacks

One of the drawbacks to applying for a Capital One card is that they pull from all 3 credit bureaus. You can have one of your bureaus frozen like Experian to mitigate the damage, however.

Capital One Savor credit limits

It’s hard to predict what your credit limit will be for the Savor credit card. However, there are reports of others getting credit limits as high as $30,000. More realistically, with an average credit score, you’ll probably get started off with a credit limit of $5,000 to $10,000.

The actual limit you get will depend on your credit score and income but in the past Capital One has always been one of the most generous issuers for me when it comes to credit limits. They also allow you to request credit limit increases, usually after 6 months, so you can always try to work your way up the credit limit ladder with those requests.

Improving your credit score

If you think you’re on the cusp of getting approved then you may just need to work a little bit on your credit score. If you need a quick refresher on how credit scores are determined, click here

Related: How to Raise Your Credit Score by 200 Points

Your credit score is determined by the following categories:

Payment history

Obviously, you want your payment history to be squeaky clean. If you have a late payment within the last couple of months, consider waiting a few more months to apply for another credit card. If you have multiple late payments, you might need to wait 6 to 12 months before applying and possibly even longer.

Utilization

You want to try to keep your utilization around 10% but no higher than 30% for good approval odds. It’s really important to know how to properly pay off your credit card bill to maintain good utilization.

Credit history

As stated, you probably want to apply for this card after you’ve established some credit history for a while. I would shoot for at least a couple of years of solid credit history.

New credit

Capital One can be a little sensitive to new accounts opened up so try to space out your applications so that you’re not applying for a bunch of Capital One cards right after applying for other cards.

Mixed credit

This looks at your mix of revolving credit accounts and installment accounts and is the least important factor for your FICO score. You shouldn’t stress too much over this factor.

Depending on which factor is holding you back, there are different ways to quickly improve your credit score. You can read about these different methods here

Final word

The Capital One Savor is a great cash back rewards credit card but you’re going to need to have at least a decent credit score to get approved. Capital One advertises this card as needing “Excellent” credit so you know that your score needs to be in decent shape before applying.

UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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