Capital One SavorOne Cash Rewards Credit Card review
A no-annual-fee credit card with 3% cash back on groceries, dining and entertainment purchases.
finder.com’s rating: 4.2 / 5
- 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.
Up to 8%
Intro purchase APR
for the first 15 months (then 14.99% to 24.99% variable)
|Welcome offer||Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening|
|Rewards||Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through January 2023|
|Purchase APR||0% intro for the first 15 months (then 14.99% to 24.99% variable)|
|Balance transfer APR||0% intro for the first 15 months (then 14.99% to 24.99% variable)|
|Minimum Credit Score||670|
Kliment Dukovski is a credit cards and investments writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.
The Capital One SavorOne Cash Rewards Credit Card is one of the more well known dining and entertainment credit cards on the market. It comes with a $0 annual fee, a $200 signup bonus after you spend $500 in purchases within your first 3 months, and 3% cash back on groceries, dining, entertainment and select streaming purchases. Until January 31, 2023, you’ll also earn 8% cash back on Vivid Seating purchases. This is a solid set of rewards, considering the card has no annual fee.
In addition, you get to use 15 months of 0% intro APR period on purchases reverting to 14.99% to 24.99% variable, which can be handy if you’re looking to make a large purchase and carry the balance without interest.
The SavorOne‘s most notable competition is from its big brother the Savor Rewards from Capital One, which offers 4% on the same categories in exchange for a $95 annual fee. Depending on your spending, that extra 1% might be worth the cost of the card. But for smaller families or lighter spending, the extra utility of the SavorOne’s intro APR period is tough to beat.
Overall, the Capital One SavorOne Cash Rewards Credit Card is a terrific bundle of features for a no annual fee card and worth checking out if you’re looking for a card that rewards you for spending on dining and entertainment.
How to apply for the Capital One SavorOne Cash Rewards Credit Card
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.
- Go to the provider's site and click Apply now.
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 recieve your further communication in English or Spanish.
Capital One SavorOne Cash Rewards Credit Card benefits
- Cash back. Earn unlimited 3% back on dining and entertainment, 3% 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. You’ll also earn 8% back on Vivid seats until January 31, 2023.
- Signup bonus. Get a $200 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.
- 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 APR of 14.99% to 24.99%.
- 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.
Capital One SavorOne Cash Rewards Credit Card drawbacks
- 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 24.99%. Avoid paying the high interest by paying your balance when due.
- Balance transfer limitations. Request a transfer 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.
How much cashback rewards can I earn with the Capital One SavorOne Cash Rewards Credit Card?
Everyone’s spending habits are different. But with spending on dining, entertainment and groceries, you’ll boost your cashback rewards. In the table below, we have an example of how much cash back you can earn in one year if you spend $13,000 with this card.
|Where you spend:||The amount you spend:||Cash back earned:|
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.
What purchases are eligible in each Savor earning category?
Here is a breakdown of what purchases count under each earning category.
- Dining. Restaurants, cafes, bars, lounges, fast-food chains and bakeries.
- Entertainment. Tickets for a movie, play, concert, sporting event, tourist attraction, theme park, aquarium, zoo, dance club, pool hall or bowling alley. Purchases at record stores and video rental locations also count as entertainment purchases.
- Grocery stores. Supermarket, meat locker, freezer, dairy product store and specialty market purchases. Stores like Walmart and Target aren’t included in this category.
How do I redeem rewards from Capital One SavorOne Cash Rewards Credit Card?
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.
Compare dining rewards cards
For a better idea of how the Capital One SavorOne Cash Rewards Credit Card stacks up against other dining reward cards, select up to four cards and click Compare to see their features side-by-side.
Capital One SavorOne Cash Rewards Credit Card reviews and complaints.
Satisfied card members love the cashback rates they get on dining, entertainment and grocery stores. 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.
As of October 2021, Capital One earns an A rating from the Better Business Bureau, which accredited the bank since 1995.
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. You’ll get a long intro APR period on 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.
Capital One SavorOne Cash Rewards Credit Card: What’s changed?
|10/19/2021||Added: 0% intro APR on balance transfers for 15 months; 3% balance transfer fee|
Compare Capital One SavorOne Cash Rewards Credit Card with other cards
Images: Capital One
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