For a credit card with no annual fee, the SavorOne offers competitive cash back rates in everyday categories and plenty of redemption options. It also carries a good intro APR period on purchases and balance transfers that may appeal to new cardholders.
Rewards: Boosted, unlimited cash back rates
The SavorOne earns 3 percent cash back in several everyday categories, including dining, entertainment, grocery store purchases (excluding Walmart and Target) and popular streaming services.
Generous cash back on these categories can be hard to find, especially since the SavorOne has no spending limits on your boosted cash back rate. Although other cards come close to matching this offer, they might include different categories or have spending limits for the highest-earning categories before the rate drops to 1 percent. For example, the Blue Cash Everyday® Card from American Express offers the same cash back rate at U.S. supermarkets, U.S. gas stations and U.S. online retailers, but it’s capped at $6,000 in purchases per year, then it earns 1 percent.
The SavorOne card’s categories cover many significant expenses, making the card an excellent option for earning cash back every day without limits. But while most major grocery store purchases earn you 3 percent cash back, it’s important to consider that superstore and wholesale club purchases will only earn you 1 percent cash back. Furthermore, the card’s list of eligible streaming services excludes a few major services like Prime Video and some popular audiobook and fitness programming subscriptions as well.
Something else you should consider about SavorOne's cash back rates is that the highest-earning cash back categories are very specific. You’ll only get the card's best cash back rates on Capital One Travel and Entertainment purchases and through Uber and Uber Eats. If you like to order your food through a different app or plan your travel and social calendar on different platforms, then this card may not benefit you.
Sign-up bonus: Valuable welcome offer
The SavorOne carries a solid welcome offer of $200 after you spend $500 in your first three months. That's a 20 percent return on spend, on par with the value you'll find on other top no-annual-fee cash back cards. The spending requirement is about average, too, and a few competing cards make you spend slightly more to earn the same bonus value.
Rates and fees: Decent intro APR for a low-fee card
The Capital One SavorOne card is affordable both upfront and over time. It lacks some of the fees you might find on other cards and cements itself as a user-friendly choice in a card landscape saturated with options. It comes with no foreign transaction fees and no annual fee, making it a low-cost card to carry.
It’s not common for rewards-specific cards to have a solid intro APR offer for new cardholders, and the SavorOne keeps itself competitive with a slightly-longer-than-average offer. The balance transfer fee is on the lower end, too: 3 percent of the amount transferred in the first 15 months of account opening (no fee for amounts transferred at the transfer APR). Many cards also apply a higher balance transfer fee after a few months, but new SavorOne cardholders have the entire 15-month introductory window.
(See Rates and Fees)