Capital One SavorOne Cash Rewards Credit Card review

Best for the dining and entertainment for no annual fee

• Rewards rate: 3% on dining and entertainment purchases, 2% on groceries from qualifying stores and 1% on all other purchases
• Welcome offer: $200 cash bonus after spending $500 within three months of account opening
• Annual fee: $0
• Purchase intro APR: 0% for the first 15 months
• Balance transfer intro APR: N/A
• Regular APR: 15.49% to 25.49% variable

The Capital One SavorOne Cash Rewards credit card is the ultimate companion for the consummate host. It allows high cash back earnings on dining and entertainment, plus an inviting cash rewards offer for those who spend at least $500 within the first three months of opening the account.

Low fees and a lengthy intro APR offer further sweeten the deal, but it’s worth noting that this Capital One credit card requires applicants to have a good credit score to apply for this card.

Capital One SavorOne current welcome bonus

You’ll get $200 in cash back after spending $500 on qualifying purchases within the first three months. While this is not a massive sign-on reward, it’s a low enough spend threshold to make it easily accessible.

Cash back

For a card with no annual fee, the SavorOne offers competitive rates of cash back, especially on dining and entertainment purchases.

Earning cash back

Simply swiping the card for qualifying purchases will allow cardholders to earn unlimited cash back at the following rates:

• 3 percent on dining and entertainment
• 2 percent on groceries (excluding large retailers such as Walmart and Target)
• 1 percent on all other purchases

Redeeming cash back

Cash back can be claimed for any amount, at any time, for a statement credit, check or gift card.

Your rewards also don’t ever expire as long as your account remains open.

Capital One SavorOne: Benefits

The Capital One SavorOne Cash Rewards credit card is a great option for that empty slot in your wallet because of its many benefits.

Travel benefits

Cardholders who travel outside of the United States don’t have to worry about foreign transaction costs, making this card a great travel companion. Additionally, there is a 24-hour travel assistance service that delivers an emergency replacement card and cash advance if your credit card is lost or stolen. Cardholders also qualify for travel accident insurance when they use their credit card to purchase their tickets.

Retail partners

Cardholders can find extra discounts on online shopping through the Capital One Shopping portal.

Rates and fees

The Capital One SavorOne Cash Rewards card is pretty low on fees, considering that there is no annual fee.

Still, customers can expect to pay a 3 percent balance transfer fee and cash advance fees of 3 percent or $10, whichever is greater. A late payment fee of up to $40 is also levied when cardholders pay after the agreed due date.

The SavorOne comes with a generous period for saving interest on new purchases too: You’ll get a 0 percent APR for the first 15 months of account opening (15.49 percent to 25.49 percent variable APR thereafter).

How the Capital One SavorOne compares to other cash back cards

The Capital One SavorOne Cash Rewards card slots in nicely between two industry heavyweights: the Citi® Double Cash Card and the Chase Freedom Unlimited®. While there are some standard items across the board for all three, such as the $0 annual fee and great rewards, there are also some areas where each card excels.

For instance, the Citi Double Cash Card offers a 0 percent APR period for 18 months for balance transfers (not including the balance transfer fee of $5 or 3 percent, whichever is greater), followed by a variable APR of 13.99 percent to 23.99 percent. However, it has no introductory APR for purchases. It also gives you 1 percent cash back on purchases and 1 percent cash back when you pay for the purchases. This flat earning rate might appeal more to those who don’t spend heavily in the SavorOne’s bonus categories.

Alternatively, the Chase Freedom Unlimited has a welcome offer of $200 (after $500 spend in first three months). The card comes with the same 3 percent cash back on dining purchases but combines that with great rates on travel and drugstore purchases rather than entertainment. Plus, you’ll earn 1.5 percent back on general purchases that don’t fall in these categories instead of the standard 1 percent.

Best cards to pair with the Capital One SavorOne

While dining and entertainment are two of the biggest cash back earners on the SavorOne, these are not the biggest credit expenditures for everyone.

If you want to stick with the issuer, Capital One has some other great credit cards in its product range. For those who have to travel a lot, the Capital One Venture Rewards Credit Card is a great option if you want to earn miles. This fee is only $95, which is standard in the travel card category. The Venture card has a very inviting welcome offer, and cardholders earn unlimited 2X miles on all qualifying purchases.

Bankrate’s Take—Is the Capital One SavorOne worth it?

As far as cash back rewards are concerned, the Capital One SavorOne Cash Rewards credit card is a top-notch option, especially when you take into account it has no annual fee and a handsome intro APR.

Pros

• No annual fee
• Long 0 percent APR intro period
• Easily achievable welcome bonus requirements

Cons

• Low travel rewards
• No balance transfer offer