MoneyGeek’s Take

Capital One SavorOne Rewards Review

Capital One SavorOne Rewards is a highly rewarding no-annual-fee dining and entertainment credit card that is ideal for bargain hunters. It provides an unlimited, flat 3% cash back on groceries, restaurants, entertainment and streaming services, as well as 1% cash back on all other purchases.

Reviewed by    |  

The Capital One SavorOne Rewards card is designed for people with excellent credit who want to earn unlimited cash back while eating out, buying groceries and paying for entertainment tickets and streaming services. Your credit score does have an impact on your APR. Nevertheless, you pay nothing for annual membership or foreign transactions. MoneyGeek’s Capital One SavorOne Rewards card review takes a closer look at the features, benefits, disadvantages and other aspects of the card to determine if it's ideal for you.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Has Balance Transfer Offer
  • Has APR Offer
  • Cash Back Rewards
  • Travel Rewards
Click to see this card’s rates, fees and how they compare to other cards in our dataset.

Capital One SavorOne Rewards at a Glance

You can earn a minimum of 1% cash back on all your purchases using the no-annual-fee SavorOne Rewards credit card, without worrying about a spending limit. By spending $500 on purchases in the first three months after account setup, you can earn a $200 cash bonus. For the first 15 months, you will also receive a 0% intro APR. Its lack of a foreign transaction fee is another praiseworthy feature.


  • Capital One SavorOne Rewards

    An excellent dining and entertainment card with generous unlimited rewards


    • Good–ExcellentCredit Needed
    • $0Annual Fee
    • 3% Cash Back*Rewards Rate
    • 3xRewards Rate on Entertainment
    • 2xRewards Rate on Groceries

Pros & Cons Explained

Capital One's SavorOne Rewards card can be lucrative for eager deal-seekers. However, there are a few downsides that may affect your decision.

Pros

  • Benefits
    Description
  • No Annual Fee
    You will not pay an annual fee for the life of the card. This is quite advantageous, in addition to its great earning potential.
  • Generous Cash Back Rewards
    The card offers excellent benefits in the form of unlimited cash back that never expires. You earn 3% cash back on grocery purchases, restaurant purchases (dine in, take out or delivery), entertainment tickets and streaming services. In addition, all other purchases are eligible for 1% cash back.
  • No Foreign Transaction Fees
    You can make all the overseas purchases you want without incurring any foreign transaction fees. This is advantageous to those who want to travel abroad and keep earning rewards while on the go.

Cons

  • Drawbacks
    Description
  • High Regular APR for Some Cardholders
    New cardholders can take advantage of the 15-month interest-free period. After that, however, the usual APR applies, which is on the higher side for some cardholders. Based on your credit score, you will have an APR of 15.49%, 21.49% or 25.49% after the interest-free period.
  • Conditions Apply for Purchase Categories
    Grocery purchases made at warehouses, discount stores, gas stations, convenience stores and superstores, such as Walmart and Target, are not eligible for the 3% cash back on grocery bills. Instead, you will receive 1% cash back. The same is true for entertainment expenses made through third-party sites or providers.
tip icon
LOOKING FOR THE BEST CREDIT CARDS OF 2021?

The SavorOne Rewards card isn't one of our top rewards cards of 2021. You can compare the other cards on our list to see if one of those sounds better than this one. If you have excellent credit, you might be interested in one of our best credit cards for people with excellent credit.

Bonuses & Rewards Explained

The Capital One SavorOne Rewards card's benefits are rather extensive compared to some competing cards. Take a look at some of the bonuses and rewards associated with this card.

1

Introductory Bonus and 0% APR

You can earn $200 for spending $500 in the first three months, which is a very low spending threshold for an introductory bonus. You are also entitled to 15 months of interest-free use.

2

Unlimited Earning Potential

Since there is no limit for earning cash back, it will be quite profitable for the user who spends on the 3% cash back categories. The cash back remains valid to redeem as long as your account is active. And all other purchases give guaranteed cash back of 1%. You can also earn 8% cash back on tickets purchased through Vivid Seats.

3

Easy Rewards Redemption

Your cash back can be redeemed as a statement credit or a check upon request. You can also set an automatic redemption option for a specified time of year or when the cash back value reaches a specified threshold. You can use your points to pay down your card balances, buy gift cards and more. There’s also the choice of linking the card to PayPal and redeeming the cash back to your PayPal account.

Other Features Explained

Aside from the Capital One SavorOne Rewards card's benefits, there are a few other features that you should know about.

  • Card Feature
    Description
  • Account Managers
    You can have an account manager added as a type of authorized user to your account so they can manage your account on your behalf.
  • Automatic Payments
    To avoid missing payment due dates, you can set up auto-pay so you don't have to log in to your account every month for making payments.
  • Capital One Mobile App
    The mobile app is available for both iOS and Android users. It is the one-stop app for all your account activities, including bill payments, viewing transaction history, locking and unlocking the card if it’s stolen or lost, receiving transaction alerts, managing your rewards and more.
tip icon
MONEYGEEK EXPERT TIP

"If you’re looking for a good cash back card without any annual fees, you’ll want to look at this one. You can redeem your cash back rewards on both PayPal and Amazon with this card." - Alene Laney, Credit Card Journalist

Understanding the Fine Print

As a credit card user, you must have a good understanding of how credit cards function, along with the benefits, fees, interest rates and other details of the card you're using.

The table below contains information about the Capital One SavorOne Rewards credit card's fees, interest rates, rewards rates and more.

  • Card Feature
    Amount or Rate
  • APR
    15.49%–25.49%
  • Annual Fee
    $0
  • Cash Back Rewards
  • Rewards Rate
    3% Cash Back*
  • Airline Benefits

Some general credit card terms can be confusing. But you can use MoneyGeek's credit card glossary to understand the most commonly used terms.

  • This is an icon

    Annual Fee

    You pay no annual fee for using this card.

  • This is an icon

    Foreign Transaction Fee

    There is no surcharge on transactions in foreign currency or outside the United States, so you can earn cash back rewards when buying from anywhere around the globe.

  • This is an icon

    Introductory APR

    The SavorOne Rewards credit card comes with a 15-month interest-free period from the date of account opening.

  • This is an icon

    Regular APR

    The SavorOne Rewards Card from Capital One has a regular APR of 15.49%, 21.49% or 25.49% for purchases and balance transfers after the interest-free period of 15 months, depending on your credit rating. Cash advances will bear an APR of 25.49%. Your APR can vary in accordance with market rates.

  • This is an icon

    Cash Back Rewards Rate

    Every purchase you make with this card earns you at least 1% cash back. Furthermore, you will receive 3% cash back on certain categories and purchases, with no spending limit.

  • This is an icon

    Cash Advance and Balance Transfer Fee

    If you withdraw cash from your credit account, expect to pay a charge of $10 or 3% of the transaction amount, whichever is greater, in addition to the APR on the transactions. In addition, if your card has a promotional balance transfer APR, a transaction fee of 3% of the transaction amount is applied to every transaction. If not, the standard APR will apply without a balance transfer fee.

tip icon
WHERE TO FIND THIS INFORMATION?

You should evaluate multiple cards and compare their annual fees, APRs, rewards, advantages and downsides to find the best card for you. If you want to compare Capital One's SavorOne Rewards card to another one you already have, look at your most recent monthly statements or go to your credit card company's website or mobile app. You can also verify these facts by searching for the card issuer and the card's data in the credit card agreement database maintained by the Consumer Financial Protection Bureau.

Who Should & Shouldn’t Consider Capital One SavorOne Rewards?

Loading...
Loading...

Other Considerations for Capital One SavorOne Rewards

When applying for a credit card, it's important to know everything there is to know about the card. Before applying for the Capital One SavorOne Rewards credit card, keep the following factors in mind. The card’s utility can vary depending on whether it will be your only card or an addition to your wallet.

Things to Consider if This is Will Be Your First or Only Credit Card

As your first or only credit card, you can earn significant cash back by spending regularly in the card’s bonus categories. However, many competing cards can beat SavorOne Rewards’ offer of 1% cash back on all other purchases. With the introductory interest-free period of the SavorOne Rewards card, you have a significant amount of time to plan your purchases and pay up without paying interest.

Things to Consider if This is Will Be an Additional Card in Your Wallet

You will benefit the most from using the Capital One SavorOne Rewards card if you have maximum expenses in the 3% cash back categories. The best option is to pair it with another card that offers a higher flat-rate reward on all purchases. For instance, the Wells Fargo Active Cash credit card and Citi Double Cash card both offer unlimited 2% cash back.

Pairing it with a highly rewarding travel card, such as the Chase Sapphire Preferred Card, is another excellent choice. Using this card, there’s a potential to earn up to five points per dollar on travel purchases and a minimum of two points for all other purchases. While the Chase Sapphire Preferred Card gives you elevated rewards for travel purchases, the SavorOne Rewards card complements it nicely with its 3% cash back categories.

tip icon
WHY TRUST OUR REVIEWS

MoneyGeek conducts in-depth research on credit card companies by employing a comprehensive ranking methodology. The technique includes gathering data from the Consumer Financial Protection Bureau's database, standardizing data points for card comparison, calculating average expenditure profiles, factoring annual and promotional incentives of each card and calculating the three-year value of maintaining the card. The process also includes monthly re-ranking of the cards and revising each list every six months.

How Capital One SavorOne Rewards Compares to Other Cards

The Capital One SavorOne Rewards card can be a great option for many individuals with strong credit scores. There are no spending caps, but you need to spend the maximum on the 3% cash back categories to maximize your earning potential. However, with its unlimited reward structure and intro bonus, this no-annual-fee card competes well with other rewards cards.

Quick Comparison of Capital One SavorOne Rewards

creditCard

Capital One SavorOne Rewards

  • Annual Fee: None
  • Regular APR: 0% for 15 months, 15.49%–25.49% thereafter
  • Rewards Rate: 1%–3%
  • Credit Requirement: Excellent
  • Foreign Transaction Fee: None
  • Best for: Rewards strategists looking for a no-annual-fee card
creditCard1

Credit One Bank Platinum Rewards Visa

  • Annual Fee: $95
  • Regular APR: 23.99%
  • Rewards Rate: 1%–10%
  • Credit Requirement: Fair to Excellent
  • Foreign Transaction Fee: 3%
  • Best for: Individuals wanting to earn very high rewards on specific categories

Other Helpful Decision-Making Q&As

If you still have questions regarding the Capital One SavorOne Rewards card after reading this review, please see the questions we answered below. More information about the card is available on the Capital One official website.

Still not sure about this card? Consider these options.

If you're still debating whether to get the Capital One SavorOne Rewards credit card, consider some of the alternative cards that offer significant benefits. You can easily find a better choice from Capital One or its competitors that provide comparable or greater perks than the Savor One Rewards credit card.

Learn more about credit cards in general

sources