Upgrading to Capital One Savor

Choosing a credit card can be tough. You have to weigh rewards, points, fees, interest rates, and so much more. Once you’ve had a credit card for some time, you might realize that the card just doesn’t cut it anymore. If your needs or buying habits have moved on, or if the card’s perks have changed, it might be the time to start looking for potential upgrades within the same company. If you’re already a Capital One cardholder, luckily for you, the process to upgrade is extremely quick and straightforward. A great Capital One card to potentially upgrade to is the Capital One Savor card, especially if you are currently an owner of the Capital One SavorOne card or one of the other entry-level cards. Below, we’ll go over the steps to upgrade to any Capital One card, including to the Savor.

Requirements to Upgrade

Before you upgrade your Capital One card, there are a few factors that determine whether you are eligible for an upgrade. In no particular order, they are:

• How long you’ve had your current card
• How often you use your current card
• Current account standing

How long you’ve had the current card definitely plays one of the most important roles in determining your upgrade eligibility. We recommend having the Capital One card for at least one year before looking for an upgrade. A high frequency of use is not a major requirement. As for current account standing, if you’re constantly missing payments or maxing out your card, it might prevent you from eligible upgrades. If you have a positive reputation for on-time payments with the bank, you are more likely to be allowed a product change. Note that from time to time, Capital One may hold promotional events that increase your chances of receiving upgrades.

Ways to Upgrade

Although there are multiple ways to upgrade, Capital One cardholders eligible for upgrades will most often be notified through email or a banner on their online account. If you are unsure whether you are eligible for an upgrade, you can always inquire via customer service. Once you are notified of upgrade eligibility, you can upgrade through the phone or by accepting the offer online. Make sure to read the terms and conditions so that you are aware of the exact details of the new card. 

Remember that an upgrade will not issue a credit check and that you’re previous APR and limits will remain the same. Your card number will also remain the same allowing you to begin using your new card right away. However, any new annual fees or penalties will also apply. Capital One’s upgrade offers are usually available for a limited amount of time, but new ones will appear as soon as you become eligible.

A common upgrade for Capital One cardholders is to move on to the Savor card. For Capital One Savor Cash Rewards Credit Card come with an annual fee of $95 and has a high variable APR between 15.99% and 24.99% with no 0% intro period but offers a highly rewarding cash back program that can help cardholders save on a variety of purchases. Cardholders earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores, and 1% on all other purchases. For Capital One SavorOne Rewards card is excellent for those looking for a rewards centric credit card that rewards for all types of purchases. The rewards rate of this card is 3% cash back on dining, 2% on groceries, and 1% on all other purchases. This card can be really rewarding if you frequently dine out but can be just as rewarding if you make common purchases. 

Conclusion

If you are a Capital One cardholder, it is paramount that you take advantage of this extremely easy and quick upgrade process to take full advantage of all the Capital One has to offer. If you are unsure about upgrade eligibility or do not see a card offer that you want, you can always call their helpful customer service to learn more.