Is the Capital One SavorOne Worth it?

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No-annual-fee rewards cards have a lot to offer. You don’t have to pay to hold the card, but you can rack up points or cash back on your everyday spending.

As long as you are consistent with paying your bills, there is really no downside. But before you sign up for one of these cards, you probably want to know which one best suits your lifestyle. Depending on what you like to spend your money on and what other financial goals you have, choosing the right rewards card can help you maximize cash back earnings.

If you love all things “food and fun,” the Capital One SavorOne Cash Rewards Credit Card should be a strong contender for your next credit card. Here’s more information that can help you decide if the SavorOne is worth it.

What does the SavorOne card offer?

Quick highlights

  • Rewards rate: 3 percent cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart and Target), plus 1 percent on all other purchases; 8 percent cash back on purchases from Vivid Seats (until January 2023)
  • Welcome offer: $200 cash bonus after spending $500 within three months of account opening
  • Annual fee: $0
  • Purchase intro APR: 0 percent for the first 15 months
  • Regular APR: 14.99 percent to 24.99 percent variable

When it comes down to it, the SavorOne card offers rewards for foodies and lovers of leisure; whether you go out or stay in, there’s something in the cash back rewards structure for you.

As a SavorOne cardholder, you’ll get unlimited cash back with a focus on dining, entertainment, popular streaming services and grocery store purchases (except for Walmart and Target), plus 1 percent unlimited cash back on all other purchases. Plus, you can enjoy an intro APR offer and a few extra Mastercard benefits.

Welcome bonus and introductory APR offer

In addition to the generous rewards structure, there’s a $200 cash bonus after spending $500 within three months of account opening. Plus, if you’ve got a large purchase (or several small ones) on the horizon, the intro APR offer can help you pay them down on time without paying interest.

Earning rewards with the SavorOne card

The SavorOne card only offers bonus cash back on certain purchases—namely those coded as dining and grocery along with select streaming services. In general, big box and warehouse club stores will earn only 1 percent back instead of the 3 percent.

Here’s a breakdown of how you earn cash back with the SavorOne card.

  • 8 percent cash back on Vivid Seats purchases (until January 2023)
  • 3 percent on dining
  • 3 percent on entertainment
  • 3 percent at grocery stores (excluding large retailers such as Walmart and Target)
  • 3 percent on popular streaming services
  • 1 percent on all other purchases

The good news is that you don’t have to track any spending or activate a chosen spending category like some cards with rotating bonus categories. You simply swipe your card, and Capital One will tally up your cash back balance on your monthly statement.

This competitive cash back rate for food and entertainment categories also means that you can earn much more in rewards than if you used a flat-rate cash back card with a lower rate, like 1.5 percent back.

Redeeming rewards with the SavorOne card

When you are ready to redeem your rewards, your cash back can be claimed for a statement credit, check or gift card, and there’s no minimum amount to redeem. You can also pay with your rewards at checkout using “Pay with Points” with PayPal or

SavorOne benefits

There are also several other benefits to consider with this card. For instance, there are no foreign transaction fees, and there is a 24-hour travel assistance service that delivers a replacement card in case of an emergency. Cardholders also qualify for travel accident insurance when they use their card to purchase their airline tickets.

How does the SavorOne compare to the Savor Card?

If you didn’t know, the SavorOne is a no-annual-fee version of the Capital One Savor Cash Rewards Credit Card, which has a $95 annual fee. The Savor card offers a slightly larger welcome bonus of $300 after spending $3,000 within your first three months of opening your account. Plus, the cash back on dining is set at 4 percent, not 3 percent like the SavorOne. There is no introductory APR offer like the SavorOne, but everything else is pretty much the same, including the card benefits.

If you are comparing the cards, the big difference maker will be your dining spending. You’d have to spend $2,375 per year (or around $198 a month) on dining to get the annual fee back, which is doable for many people. Keep in mind that you’ll likely spend in other categories and can earn a larger welcome bonus to help offset the annual fee.

While there is a chance you’d be able to out-earn this card’s annual fee, you may just be better off with the SavorOne if your dining spending is lower.

Is the Capital One SavorOne worth it?

The Capital One SavorOne Cash Rewards credit card is one of the best cash back cards without an annual fee on the market, especially for foodies. The bonus categories allow you to earn unlimited cash back on a broad range of purchases in the area of dining and entertainment.

Plus, the introductory APR on new purchases can help you save money on interest. All this, plus the card benefits, can make the SavorOne a solid choice for those who spend a fair amount of money on entertainment and dining.

*All information about the Capital One Savor Cash Rewards Credit Card has been collected independently by Bankrate and has not been reviewed or approved by the issuer.

Written by
Aja McClanahan
Personal Finance Writer
Aja McClanahan is an author, blogger and speaker on personal finance and entrepreneurship. Aja is the author of "How a Mother Should Talk About Money with Her Daughter."
Edited by
Senior Editor, Credit Card Product News