Capital One® SavorOne® Cash Rewards Credit Card review

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Claire Dickey @ClaireDickey  in  Cash Back How we rate our cards  |  Advertiser Disclosure
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Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

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Best for dinning and entertainment

Annual Fee:
$0
Purchase Intro APR:
0% intro on purchases for 15 months
Balance Transfer Intro APR:
0% intro on balance transfers for 15 months
Regular APR:
15.74% - 25.74% (Variable)
Terms and Restrictions Apply

Bankrate Rating

Commonly used for: 0% Introductory APR, Balance Transfer, Cash Back, Dining, EMV, Grocery, No Annual Fee, No Foreign Transaction Fees, Points, Rewards.

Score Breakdown

Bankrate Rating

Perks
Rewards
Annual Fee
Intro Bonus
Variable APR
Foreign Transaction Fee

Capital One SavorOne Cash Rewards Credit Card: Details and benefits

With the SavorOne card, you’ll get a stellar 3 percent cash back on dining and entertainment, 2 percent back at grocery stores and 1 percent back on all other purchases.

The rewards structure for the Capital One SavorOne card is pretty simple. There are no rotating categories and you won’t need to sign-up for rewards. All cash back rewards are accrued automatically, your cash back won’t expire for the life of the account and there are no limits on how much you can earn.

Along with this solid unlimited rewards structure, you won’t be charged an annual fee and can enjoy a $150 cash bonus after spending $500 within the first 3 months of account opening.

You’ll enjoy a zero percent APR for 15 months on purchases and balance transfers (15.74-25.74 percent variable thereafter). Keep in mind that balance transfers are charged a 3 percent fee on amounts transferred within the first 15 months, so if you’re looking to consolidate debt, the SavorOne may not be your best option.

Advantages
  • $150 cash bonus when you spend $500 on purchases in the first 3 months of account opening
  • No annual fee
  • No foreign transaction fees
  • Zero percent intro APR on purchases and balance transfers for 15 months (15.74%-25.74% variable)
Disadvantages
  • Relatively short zero percent introductory APR period on balance transfers and purchases.
  • Balance transfer fee (3 percent fee on any amount transferred within the promotional period) could make it unsuitable for anyone looking to consolidate debt

Is the SavorOne worth it for you?

If you’re thinking of applying for the SavorOne, first make sure you spend enough to fully utilize its spending categories. You’ll receive the most cash back from eating out and spending on entertainment, so if the dining category isn’t particularly exciting for you, it wouldn’t hurt to look for a flat rate cash back card solely focused on grocery store spending.

International travelers will enjoy SavorOne’s lack of foreign transaction fees. This saves you from the 3 percent fee many cards charge on transactions made abroad. You’ll also get travel protections like travel accident insurance and 24-hour travel assistance services.

Get the most value from the SavorOne card

If you value earning unlimited cash back on dining, entertainment and grocery stores, consider the SavorOne. Along with a nice cash bonus, you enjoy no annual fee and the simplicity of spending categories that don’t rotate.

Security features like automatic security alerts, easy card locking and unlocking in case you misplace your wallet and CreditWise®, which monitors your credit without hurting your score, also bring added value.

How much are the SavorOne rewards worth?

The average American spends over $200 a month on groceries, meaning you most likely won’t have trouble reaching the qualifying spend ($500 within the first 3 months) needed for the $150 cash bonus.

For instance, if you spend $200 a month on groceries and $250 a month on eating out, attending concerts and going to the movies, you could earn $138 in cash back by the end of the year — not including all other spending.

If you spend $150 a month on miscellaneous items, that would earn you an additional $18 a year.

How to redeem rewards

Rewards don’t expire and can be redeemed at any amount. To redeem for cash back or statement credit, simply log into your Capital One account and select “Redeem Rewards”.