Capital One® SavorOne℠ Cash Rewards Credit Card

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Claire Dickey @ClaireDickey  in  Cash Back Advertising 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 dining and entertainment with no annual fee

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:
16.24% - 26.24% (Variable)
Terms and Restrictions Apply
Bankrate Score: 91 out of 100

Commonly used for: 0% APR, Balance Transfer, Cash Back, Excellent Credit, Good Credit, No Annual Fee, No Foreign Transaction Fees, Rewards, Sign-up Bonus.

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Editor’s note: some of the offers on this page are no longer available. 

Are you a restaurant regular or fast food connoisseur? Do you enjoy catching a movie a few times each month? Have you spent a little too much time in your local grocery store? With the Capital One® SavorOne℠ Cash Rewards card, you can easily earn cash back on these kinds of purchases.

Along with a 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.

Here are the details:

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

You’ll enjoy a 0% APR for 15 months on purchases and balance transfers (16.24-26.24% variable thereafter). Keep in mind that balance transfers are charged a 3% 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.

Is this card right 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% fee many cards charge on transactions made abroad. You’ll also get travel protections like travel accident insurance and 24-hour travel assistance services.

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
  • 0% intro APR on purchases and balance transfers for 15 months (16.24%-26.24 variable)
Disadvantages
  • Relatively short 0% introductory APR period on balance transfers and purchases.
  • Balance transfer fee (3% fee on any amount transferred within the promotional period) could make it unsuitable for anyone looking to consolidate debt

How much are the rewards worth?

The average American spends over $200 a month on groceries, meaning you most likely won’t have trouble reaching the qualifying spend 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 this card compares

Blue Cash Everyday® Card from American Express

If your spending is concentrated on grocery stores and you spend heavily on gas, you may find the no-annual-fee Blue Cash Everyday Card from American Express a better fit. For rates and fees of the Blue Cash Everyday® Card from American Express, please click here.

The Blue Cash Everyday card offers cash-back earnings with a rate of 3% at U.S. supermarkets (on up to $6,000 in annual spending, then 1%), 2% at U.S. gas stations and select U.S. department stores and 1% on all other purchases.

Read the full Blue Cash Everyday review here.

Blue Cash Preferred® Card from American Express

Despite the $95 annual fee, the Blue Cash Preferred Card from American Express is a must-have card in the wallet of any big grocery shopper. For rates and fees of the Blue Cash Preferred® Card from American Express, please click here. The 6% cash-back reward at U.S. supermarkets up to $6,000 in spending each year, then 1%, is the most lucrative available in this category.

If you hit the spending cap — which a lot of big grocery spenders probably will — you’ll earn $360 back with the Blue Cash Preferred vs. $180 back with the Blue Cash Everyday. Even with the Preferred’s annual fee, you’ll still come out ahead.

Read the full Blue Cash Preferred review here.

Chase Sapphire Preferred® Card

The Chase Sapphire Preferred Card has long been a key player in the travel rewards card game. The card offers a solid sign-up bonus of 60,000 points after spending $4,000 within the first three months of account opening, plus a rewards structure that gives you 2x the rewards on travel and dining. And when you book through the Chase portal, your points take on 25% more value.

Read the full Chase Sapphire Preferred review here.

How to use this card

The SavorOne card comes with contactless technology, meaning you can purchase items using a tap-and-go payment function.

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”.

You’ll enjoy 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.

The bottom line

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


Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.