Comparison

Capital One SavorOne Rewards vs Bank of America® Unlimited Cash Rewards card: Which is the best?

Do you want cash back rewards? If so, read our post to find out which one is best for you: Capital One SavorOne Rewards or Bank of America® Unlimited Cash Rewards!

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by Victória Lourenço

Published on 01/02/2022

Capital One SavorOne Rewards or Bank of America® Unlimited Cash Rewards: card comparison

Find out which one is best: Capital One SavorOne Rewards or Bank of America® Unlimited Cash Rewards! Source: Pixabay.
Find out which one is best: Capital One SavorOne Rewards or Bank of America® Unlimited Cash Rewards! Source: Pixabay.

Do you know which credit card to use for the best rewards? The answer is not always clear, but it can be! Capital One SavorOne Rewards and Bank of America® Unlimited Cash Rewards are great cards that offer cash back in different ways. You can compare them to see how much they would benefit you. So, keep reading this post to know which one is best: Capital One SavorOne Rewards or Bank of America® Unlimited Cash Rewards!

cartão Bank of America® Unlimited Cash Rewards

How to get Bank of America® Unlimited Cash Rewards

The Bank of America® Unlimited Cash Rewards credit card gives you cash back on all purchases and more. See how to apply for it!

cartão Capital One SavorOne Cash Rewards

How to get the Capital One SavorOne Rewards card?

Capital One SavorOne Rewards is a credit card that offers cash back on all purchases with no annual fee. See how to apply for it!

Capital One SavorOne RewardsBank of America® Unlimited Cash Rewards
Sign-up bonus$200 after spending $500 on purchases in the first 3 months.$200 online cash back bonus after spending $1,000 in purchases within the first 3 months of account opening.
Annual feeNo annual fee.No annual fee.
Rewards3% cash back rewards on dining, streaming services, entertainment, and grocery stores.

1% cash back on every other purchase.
1.5% cash back on all purchases.
Other perksYou can get access to fantastic experiences, such as VIP tickets and more!

Get a 0% intro APR in the first 15 billing cycles for purchases.

You can become a Preferred Rewards member and earn 25% to 75% more cash back on all purchases.

*Terms apply.
APR14.99% to 24.99% variable APR.13.99% to 23.99% variable APR.

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Capital One SavorOne Rewards

This Capital One card offers cash back rewards for entertainment! Source: Capital One.
This Capital One card offers cash back rewards for entertainment! Source: Capital One.

If you like a credit card that gives you rewards for having fun, the Capital One SavorOne Rewards may be for you! This credit card offers 3% cash back rewards on dining, streaming services, entertainment, and grocery stores. Also, you can earn 1% on every other purchase you make with the card.

Moreover, as a new cardholder, you can earn a $200 cash bonus after spending $500 on purchases in your first three months of account opening. In addition, you do not have to pay an annual fee, and you can get other great perks. For example, your rewards do not expire as long as you have your account. Also, there are no foreign transaction fees.

Also, you can get access to premium experiences, such as VIP tickets, five-star meals, and more! Moreover, as a cardholder, you will get access to complimentary concierge service, 24-hour travel assistance, and more!

Therefore, if you love to dine and have fun going out, this Capital One credit card may be a great choice for you. Moreover, you can earn 8% cash back on tickets at Vivid Seats. This card has one of the best perks for those who love entertainment. However, you might not like the relatively high APR this card has. But it can be worth it because of the excellent perks you can get.

However, as this credit card offers so many excellent perks and rewards, it comes with a price. And this price is not a fee, but the fact that you need to have an excellent credit score to qualify for this card. So, make sure that you get your score in order before you apply. Also, remember to read the terms and conditions describing the details of the rewards and perks. This way, you will be prepared to better manage your credit card finances.

Bank of America® Unlimited Cash Rewards

This Bank of America card has excellent and simple cash back rewards! Source: Bank of America.
This Bank of America card has excellent and simple cash back rewards! Source: Bank of America.

The Bank of America® Unlimited Cash Rewards is an easy-to-use credit card with simple rewards and a good welcome bonus. Moreover, this credit card offers 1.5% cash back on every purchase you make with the card. Also, the cash back reward is unlimited, and you can earn as much cash back as you can.

In addition, you do not have to pay an annual fee to have this card. Also, as a new cardholder, you get an intro APR of 0% on purchases for the first 15 billing cycles. Moreover, the welcome bonus is $200 cash back after spending $1,000 in purchases in your first three months of account opening. However, you can only redeem the cash back rewards in the form of a statement credit. Also, you can deposit your rewards into a Bank of America account.

However, you cannot use your cashback rewards to transfer them into a different bank account. Moreover, you can participate in the Preferred Rewards program. With this program, you can earn 25% to 75% more cash back. Moreover, your cash back rewards do not have an expiration date.

Therefore, this credit card is for those who don’t want to worry about bonus categories. However, it would be best to have a high credit score to qualify for this card. So, make sure that you check your score before applying.

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Benefits of Capital One SavorOne Rewards

  • This credit card does not charge an annual fee.
  • There is a great rewards rate of 3% cash back on dining, streaming services, entertainment, and grocery stores. Plus, 1% cash back on every other purchase you make with the card.
  • There are no foreign transaction fees.

Benefits of Bank of America® Unlimited Cash Rewards

  • Easily redeemable rewards of 1.5% unlimited cash back on every purchase.
  • There is no annual fee.
  • The cash back rewards do not expire.

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Disadvantages of Capital One SavorOne Rewards

  • You will need an excellent credit score to qualify for this credit card.

Disadvantages of Bank of America® Unlimited Cash Rewards

  • The best rewards rate is only available for select clients.
  • You need an excellent credit score to qualify for this card.
  • There is no option to transfer your cash back rewards into another bank account.

Capital One SavorOne Rewards or Bank of America® Unlimited Cash Rewards card: which you should choose?

After analyzing each card’s pros and cons, try to see if the card’s requirements fit your spending lifestyle. Moreover, the Capital One SavorOne card offers 3% cash back rewards on dining, streaming services, entertainment, and grocery stores. Also, you can earn 1% on every other purchase. Therefore, if you spend $1,000 in a month, this could mean $36 in cash back for the month.

On the other hand, the Bank of America®’s Cash Rewards card offers a more simple cash back reward of 1.5% cash back on all purchases you make with the card. Moreover, the rewards are unlimited. Therefore, you will not have to worry about bonus categories when earning your cash back.

So, to know which card is best, you need to analyze your spending habits. For example, if you like to spend with everyday purchases and you enjoy going out, the Capital One card may be best. However, if you don’t want to be attached to bonus categories, the Bank of America®card may work best for you.

Therefore, don’t forget to check if your credit score is high enough to qualify for any of these cards. Also, always remember to read the cards’ terms and conditions, so you don’t have any surprises after you start using the card.

However, if you are looking for a credit card to earn more cash back, you may like the Blue Cash Preferred® Card from American Express. It has a cash back rewards rate ranging from 1% to 6% cash back. So, check out our post below with a full review of this credit card!

cartão American Express Blue Cash Preferred®

Blue Cash Preferred® credit card full review

If you like cashback on everyday purchases, the Blue Cash Preferred® credit card is for you. Check out our full review of this rewarding card!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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