Capital One SavorOne Cash Rewards: Great for Family Adventures and Date Nights

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ByDoug Milnes, CFA
Edited byCasie McCoskey
ByDoug Milnes, CFA
Edited byCasie McCoskey

Updated: June 14, 2024

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MoneyGeek’s Take

The Capital One SavorOne Cash Rewards credit card caters to families and foodies with its high cash back rates in grocery stores, dining and entertainment. With a robust rewards program offering 3% cash back on these categories, this card stands out for everyday spending. However, if your shopping often takes you to superstores, or you're looking for high rewards across all purchase categories, this card might not be your perfect match.

Compared to its sibling, the Capital One Savor Rewards card, which has a higher cash back rate but also a $95 annual fee, the SavorOne is a cost-effective alternative for those who prefer to avoid fees. The SavorOne card offers a balanced mix of rewards and savings, making it a worthy contender for your wallet if your spending aligns with its cash back categories.

Capital One SavorOne Cash Rewards Credit Card
Credit Card logo for Capital One SavorOne Cash Rewards Credit Card
MoneyGeek Rating
4.6/ of 5

Balance Transfer Offer0% for 15 months on balance transfers
APR19.99%–29.99% variable
Balance Transfer Fee5% of each transfer ($5 minimum)
Recommended Credit670–850 (Good to Excellent)

Capital One SavorOne Cash Rewards Overview

The Capital One SavorOne Cash Rewards credit card is for those who frequently spend money on grocery stores, dining and entertainment. It offers unlimited 3% cash back in these categories and is one of the few no-annual-fee cards that provides high rewards for restaurants and grocery stores. This card also offers higher cash back rates on travel and entertainment purchases made via Capital One platforms.

Beyond the rewards, the card offers a 0% introductory APR for 15 months on both purchases and balance transfers, which can be a financial breather for new cardholders looking to make large purchases or move existing debt.

However, the card may not be the best fit for everyone. Shoppers who frequent superstores like Walmart and Target will find their purchases earn a lower 1% cash back rate. Additionally, consumers with diverse spending beyond the card's bonus categories may benefit less from the rewards program. A different card with broader high-earning categories might be more advantageous in such cases.

>> MORE: Best Cash Back Credit Cards
Feature
Details

Card Type

Cash Back, Balance Transfer

Annual Fee

$0

Introductory Offer

$200 cash bonus after spending $500 in the first three months

Introductory APRs

0% for 15 months on purchases and balance transfers

Rewards

  • 8% on Capital One Entertainment
  • 5% on hotels and rental cars booked through Capital One Travel
  • 3% cash back on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart® and Target®)
  • 1% on all other purchases

Capital One Cash Back Program Overview

Cardholders earn rewards through a tiered cash back system. You earn 3% cash back on dining, entertainment, popular streaming services and grocery store purchases, excluding superstores like Walmart and Target. All other purchases earn 1% cash back. Additionally, users receive 8% cash back on Capital One Entertainment purchases and 5% on hotels and rental cars booked through Capital One Travel. This provides ample opportunities to accumulate rewards in various spending categories.

Redemption of rewards is user-friendly, offering options such as statement credits, checks or even travel bookings. Cardholders can request cash back at any time or set up automatic redemptions to occur annually or when a certain threshold is met. This flexibility ensures that rewards can be used in a way that best suits the cardholder's preferences.

The rewards earned with the Capital One SavorOne Cash Rewards credit card do not expire for the life of the account, and there is no limit to the amount of cash back you can earn. This provides users peace of mind and simplicity, as they do not need to worry about losing their hard-earned rewards or tracking expiration dates.

Why You Might Want This Card

Maximize your rewards without worrying about an annual fee cutting into your earnings, making every reward point count even more.

Unlimited 3% Cash Back Everyday Purchases: This card offers unlimited 3% cash back on dining, entertainment, streaming and grocery store purchases. There is no need to track shifting categories or spending caps, and the rewards never expire. Moreover, you can redeem your rewards at any amount.

0% Intro APR Period: The 0% intro APR for 15 months on purchases and balance transfers provides a breather from interest. It’s helpful if you want flexibility in paying off a recent purchase or plan to eliminate your existing balance from a non-Capital One card.

No Annual Fee: Capital One SavorOne simplifies earning rewards on dining by not charging an annual fee, meaning you don't have to worry about spending a lot just to justify the rewards.

Welcome Bonus: New cardholders can earn a one-time $200 cash bonus after spending $500 within the first three months.

Why You Might Want a Different Card

There's not much to complain about the Capital One SavorOne Cash Rewards card if you want cash back on dining and grocery stores. However, it may not work for people with different spending priorities.

1% Base Cash Back: Beyond dining, entertainment and grocery stores, the card offers only 1% cash back on other purchases. This could be a drawback if your spending is varied and not concentrated in the card's bonus categories. Depending on your spending habits, you may get more rewards from a flat-rate card like the Wells Fargo Active Cash® card or the Capital One Quicksilver Cash Rewards card.

3% Cash Back Doesn’t Cover Superstores Like Walmart and Target: Walmart, Target and other big box retailers are not included in the 3% cash back rate, which could be a dealbreaker for loyal superstore customers. A store-focused card like the Capital One Walmart Rewards® Mastercard® may be ideal if you frequently shop from a specific store.

Higher Cash Back Exclusive Through Capital One Portals: The enticing 5%–8% cash back on entertainment hotels and rental cars is exclusive to bookings made through Capital One Travel and Capital One Entertainment. This may narrow your choices and lead to missing out on deals elsewhere.

How the Capital One SavorOne Cash Rewards Card Compares

To help you find the best cards for your needs, we’ve compared the Capital One SavorOne Cash Rewards card with similar cash back cards.

Capital One SavorOne Cash Rewards vs. Capital One Savor Rewards Credit Card

While both cards give a 3% cash back rate on eligible grocery store purchases and 1% on all others, the Savor card gives higher cash back on dining, entertainment and streaming services at 4%. The Savor also has a higher welcome bonus but a higher spending requirement. On the other hand, the SavorOne card offers a 0% intro APR on purchases and transfers, which is absent from the Savor card. The 1%-point difference in cash back and the higher welcome bonus may appeal to some, but SavorOne's broader cash back range and cost-saving features make it a better choice for maximizing rewards.

Capital One SavorOne Cash Rewards vs. Wells Fargo Active Cash®

The Wells Fargo Active Cash card offers a flat 2% cash reward on all purchases, contrasting with Capital One SavorOne's higher rates in specific categories. While both cards have similar introductory cash bonuses and APR periods, the Wells Fargo card's 3% foreign transaction fee makes the Capital One SavorOne more appealing for international use. Choose the Wells Fargo card for simple, flat-rate rewards or the Capital One SavorOne for higher cash back on dining, entertainment and grocery stores.

>> MORE: Capital One SavorOne Cash Rewards vs. Wells Fargo Active Cash® Card**

Cards to Pair With the Capital One SavorOne Cash Rewards Card

With its 3% cash back on dining, grocery stores and entertainment and 1% on all others, the SavorOne card is best paired with credit cards that offer a flat-rate cash back across all categories or higher cash back on different categories.

Capital One SavorOne Cash Rewards and Citi Double Cash®

The Citi Double Cash® card offers a consistent 2% cash back on all purchases — 1% when you buy and another 1% as you pay off those purchases. While the SavorOne excludes superstores, the Double Cash doesn't. Moreover, the Double Cash card extends its 0% balance transfer offer for 18 months, which could be beneficial for those managing existing debt. Together, these cards could cover a broad spectrum of spending, maximizing your cash back potential.

Capital One SavorOne Cash Rewards and Bank of America® Customized Cash Rewards

The Bank of America Customized Cash Rewards credit card offers flexibility with 3% cash back in a category of your choice, such as online shopping or gas, which the SavorOne doesn't cover. And while the SavorOne excludes superstores from its grocery rewards, the Bank of America card may fill that gap, ensuring you earn cash back on all fronts. Together, these cards could form a robust rewards strategy for savvy spenders.

Is the Capital One SavorOne Cash Rewards Card Right for You?

The Capital One SavorOne Cash Rewards Credit Card is a good choice for food enthusiasts and those who regularly spend money on entertainment and grocery stores. With 3% cash back in these categories and a $0 annual fee, it's a rewarding option if these are your main expenses.

The introductory 0% APR offer for 15 months can also be a financial breather for new purchases or balance transfers. However, if your shopping is concentrated at superstores or you have a varied spending pattern, the lower rewards rate on other purchases might dampen the card's appeal.

How We Evaluated the Capital One SavorOne Cash Rewards Card

In evaluating the Capital One SavorOne Cash Rewards Credit Card, MoneyGeek considered a range of factors to determine its Cash Back Score. Here's how we weighted each aspect, with a total of 60 cards reviewed for comparison:

  • Rating Effective Reward Rate (50%): This is the most heavily weighted factor, assessing the value of cash back earned per dollar spent. A score of 5 indicates the most rewarding cash back rate.
  • Rating Annual Fee (10%): Evaluates the cost of owning the card, where a score of 5 means no annual fee.
  • Rating Offer ROI (10%): Looks at the return on investment for introductory offers and bonuses, with a score of 5 representing the highest potential return.
  • Rating Intro Purchase (5%): Assesses the value of the introductory 0% APR offer on purchases, with a score of 5 for the best offer.
  • Rating Recommended Credit (5%): Indicates the card's accessibility, where a score of 5 suggests availability to a wide range of credit scores.
  • Rating Issuer Satisfaction (5%): Based on JD Power issuer satisfaction studies, a score of 5 reflects the highest satisfaction.
  • Rating Penalties (5%): Rates penalty fees and rates, with a score of 5 indicating no or minimal penalties.
  • Rating Regular APR (5%): Considers the cost of carrying a balance after any introductory periods, with a score of 5 for the lowest APRs.
  • Rating Foreign Transaction (5%): Evaluates fees for transactions made abroad, with a score of 5 for no foreign transaction fees.

Our approach ensures a comprehensive and balanced review, aligning with the pros and cons identified for the Capital One SavorOne Cash Rewards Credit Card.

About Doug Milnes, CFA


Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.


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