Capital One SavorOne Cash Rewards Credit Card Review

This card sets itself apart with its abundant and varied cash-back rewards. Most cards offer high returns in one or two categories, but this card covers several bases. It offers an impressive 5% back on hotels and rental cars booked via Capital One Travel, 3% back on dining, entertainment, grocery stores and select streaming services, and even 1% back on all other purchases. Specialized categories like 10% cash back on Uber and Uber Eats (through Nov. 14, 2024) and 8% on Capital One Entertainment purchases allows customers to maximize their rewards. These categories aren't just generous; they're tailored to everyday lifestyle expenses, making it easier for cardholders to earn as they spend.

In addition to offering substantial ongoing rewards, the card also provides an attainable welcome offer. A $200 cash bonus after spending just $1,000 within the first three months gives cardholders an effective 20% return on that initial spending. This is a quick way to see the value of your card. The relatively low spending requirement makes it accessible for most people, allowing many to benefit without straining their budget.

The lack of an annual fee is an appealing aspect of this credit card. It means you can enjoy all its high-value rewards and benefits without needing to factor in a yearly cost. Often, cards with rich rewards schemes come with a notable annual fee, which can diminish your overall profit gained from rewards. No annual fee is a significant advantage for those who want to maximize their rewards without having to offset any costs — making every purchase more rewarding.

This card offers an introductory 0% APR on purchases and balance transfers for the first 15 months. Once the introductory period ends, the variable APR jumps to between 19.99% – 29.99%. As with any credit card, it's crucial to understand your own spending and repayment habits to avoid unexpected interest charges. But, managed correctly, this is a significant feature for those with large upcoming expenses or those wanting to consolidate and pay off debt from other high-interest cards.