A no-annual-fee credit card with high cash back on dining and entertainment purchases and at grocery stores.
30-second take
- Get this card if you spend most on dining and entertainment.
- Pick something else if you want higher cash back on other categories.
- Apply with a good to excellent credit score of 670 or higher.
| Product Name | SavorOne℠ Rewards from Capital One® |
|---|---|
| Card Type | Mastercard |
| Annual Fee | $0 |
| APR (Annual Percentage Rate) for Purchases | 16.24%, 22.24% or 26.24% variable |
| Introductory Purchase APR | 0% for the first 15 months (then 16.24%, 22.24% or 26.24% variable) |
| Balance Transfer APR | 16.24%, 22.24% or 26.24% variable |
| Introductory Balance Transfer APR | 0% for the first 15 months (then 16.24%, 22.24% or 26.24% variable) |
| Balance Transfer Fee | 3% |
| Cash Advance Rate | 26.24% variable |
| Foreign Transaction Fee | None |
| Cash Advance Fee | $10 or 3% of the cash advance amount, whichever is greater |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $38 |
| Minimum Age | 18 years of age |
|---|
| Welcome Offer | Earn a one-time $150 cash bonus once you spend $500 on purchases within the first 3 months from account opening |
|---|---|
| Rewards | Earn unlimited 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases |
| Base Rewards | 1% cash back |
The basics
The SavorOne℠ Rewards from Capital One® could be a great card for those who spend money on dining and entertainment purchases — including tickets for movies, sporting events and concerts. A long intro APR period on balance transfers and purchases may could help you consolidate your debt or pay off a large purchase.
Another card for dining rewards
The perks
- Cash back.
Earn unlimited 3% back on dining and entertainment, 2% back at grocery stores and 1% back on everything else you buy. Redeem your earnings as a statement credit or a check. Grocery purchases from gas stations, super stores, discount stores and convenience stores earn 1% back.
- Signup bonus.
Get a $150 bonus once you spend $500 on purchases within the first 3 months of card membership. This is relatively easy to obtain, and the amount is similar to offers from competing credit cards.
- No annual fee.
The cash back you earn is a pure reward since you don’t have to pay an annual fee for the card.
How much cashback rewards can I earn with the SavorOne℠ Rewards from Capital One®?
| Where you spend: | The amount you spend: | Cash back earned: |
|---|---|---|
| Dining | $2,000 | $60 |
| Entertainment | $2,000 | $60 |
| Groceries | $4,000 | $80 |
| Everything else | $5,000 | $50 |
| Total | $13,000 | $250 |
Let’s say your annual spending resembles the example above. In this case, you would earn $250 in cash back in a year. And if you clear the signup bonus, you’ll earn a total of $400 for the first year.
You’ll also like …
- Intro APR period.
Enjoy a 0% intro APR for 15 months from your account opening on purchases and balance transfers. After that your APR reverts to a variable 16.24%, 22.24% or 26.24%.
- No foreign transaction fees.
Use your card freely when traveling abroad without incurring any foreign transaction fees. Other cards have up to 3% fee of the amount of each transaction made outside of the US. That’s a possible savings of up to $90 for spending $3,000 annually on purchases made abroad.
- Card protection.
Get security and protection tools like locking your card, zero liability fraud coverage, account alerts, account monitoring and emergency replacement card.
- Price protection.
If you bought an item and then found a lower price within 120 days, you could be reimbursed for the difference.
- No penalty APR.
For any late payments you’ll pay a one-time fee instead of paying a penalty APR that last indefinitely.
What to watch out for
- Minimum credit line.
Your credit line depends on multiple factors, but when you apply for this card, know that you won’t get a lower credit line than $1,000. This is relatively low compared to the minimum credit line you get with the Savor® Rewards from Capital One® of $5,000.
- Potentially high APR.
Your APR mostly depends on your creditworthiness. A low score could get you a variable APR of up to 24%. Avoid paying the high interest by paying your balance when due.
- Balance transfer limitations.
Request a transfer 10 days after you open your account. Know that Capital One determines balance transfer eligibility of your account and you may not always be eligible to make transfers.
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What should I know before I apply?
You must be at least 18 years old and a US citizen to apply for this card.
Also, in the application form you’ll need to provide the following:
- Your full name and contact information.
- Date of birth and Social Security number.
- Employment information and annual income.
- Monthly housing and card spending.
At the end of your application, you can select to receive your further communication in English or Spanish.
What credit score do I need?
Apply with a good to excellent credit score of 670 or higher.
What do customers say about the SavorOne℠ Rewards from Capital One®?
Satisfied card members love the cashback rates they get on dining, entertainment and groceries. There’s also a large number of customers who are happy with the size of the credit line they received.
Customers mostly complain about the high APR rates that come with the card. But you could avoid this by paying your balance on time.
Capital One earns an A+ rating from the Better Business Bureau, which accredited the bank since 1995.
How to apply for the SavorOne℠ Rewards from Capital One®
- Go to the Capital One website and find the SavorOne℠ Rewards from Capital One®. Click Apply now.
- Enter all the required information.
- Review your application and submit.
How long will it take to get my SavorOne℠ Rewards from Capital One®?
Capital One usually makes a decision in less than a minute. If they require additional information, you’ll get an email or a letter within 7 to 10 business days.
Upon approval, your card, your welcome materials and your credit line should arrive in seven to 10 business days.
I got the card. Now what?
- Download the Capital One mobile app. Use the app to activate your card, to send money with Zelle, to redeem rewards, transfer money and more.
- Avoid interest and fees. Your due date is 25 days after the close of each billing cycle. To avoid paying a late payment fee of up to $38 and the high APR once the intro period passes, pay your balance before its due.
- Customer service. For questions, reach out to Capital One credit card customer service at 800-227-4825.
How do I redeem rewards from SavorOne℠ Rewards from Capital One®?
Redeem your cash back as a statement credit or a check. If you prefer to receive your rewards automatically, set up your redemption preference for either:
- A set time each calendar year.
- When your spending reaches $25, $50, $100 or $200.
To set up your automatic preference, log in to your online account or call the Rewards Center at 800-228-3001. If you don’t set up any redemption preference, you’ll get your cash back when you ask.
Bottom line
This can be an excellent card if you mostly spend your money on dining, entertainment purchases or at grocery stores where you’ll earn the highest cash back. In addition, you’ll get a long intro APR period on balance transfers and purchases, and you won’t pay an annual fee.
However, if you think you might do better with a different card, check out other credit cards and compare your options.
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