The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for . The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
- The Capital One SavorOne Cash Rewards Credit Card offers cash back rewards in key bonus categories, including groceries, dining, entertainment and streaming services
- This card also includes no foreign transaction fees, making it a great card to use when traveling abroad
- New cardholders can also earn a welcome offer of $200 after spending $500 within three months, which is easier to earn than other bonus offers
There’s something you should know about me: I’m a cash back maximizer. I label each of my credit cards with its cash back category percentages, and I even have a cheat sheet in my wallet that highlights the best card for any type of purchase.
If you were to take a look at my cheat sheet, you’d see that I reach for my Capital One SavorOne Cash Rewards Credit Card whenever I pay for dining, streaming services, grocery store shopping or foreign purchases. Here’s why.
What to love about the Capital One SavorOne Cash Rewards
Dining out pays off
As a marketing consultant who primarily works with the restaurant industry, dining out is part of my job. The SavorOne card helps me get more out of my dining expenses with its unlimited 3 percent cash back on dining. (Note that the SavorOne also offers 10 percent cash back on Uber and Uber Eats purchases through Nov. 14, 2024.)
Whether I’m evaluating a restaurant’s outdoor dining setup, testing contactless ordering and payments technologies or comparing online ordering platforms, the SavorOne rewards me for doing my job and stimulating the economy.
Rewards for having fun
The SavorOne gives me an unlimited 3 percent cash back on entertainment (along with 8 percent cash back on Capital One Entertainment purchases), which includes ticket purchases for things like tourist attractions, movie theaters, concerts and more. During the pandemic, I only used this perk to buy tickets for virtual events, but I now look forward to using it when I visit museums, attend shows and see films on the silver screen.
No foreign transaction fees
Instead of binge-watching the latest TV show or learning TikTok dance routines, my guilty pleasure is online shopping. While my Bank of America® Customized Cash Rewards credit card is my go-to card for online shopping, it charges a 3 percent foreign transaction fee, which annuls any cash back I earn buying from overseas merchants. So whenever I shop with a company that’s based abroad, I use my SavorOne card because it has no foreign transaction fees.
I hope that I’ll soon be able to take advantage of this perk for more than my occasional ASOS purchase. Before the pandemic, I used the SavorOne card during my travels abroad. It’s not always easy to find a card without a foreign transaction fee and no annual fee. Plus, it rewards me for the type of purchases I make most often when I’m on vacation: dining and tourist attractions.
Perks for grocery stores and streaming services
I was already pretty passionate about my SavorOne card before Capital One expanded SavorOne’s cash back offerings. The card now offers 3 percent cash back on popular streaming services and grocery store purchases (excluding superstores like Walmart and Target). Previously, the rewards rate was 1 percent for streaming services and 2 percent for grocery store purchases.
Now, this is the only credit card I use at grocery stores. That translates to about $140 in cash back for my annual grocery store bill as a single adult. If you have a lot of mouths to feed, you could earn a significant amount of cash back for your grocery store purchases.
And now that the SavorOne gives me 3 percent cash back on streaming services, I earn some money from my Netflix bill. While this cash back only translates to only about $5 in cash back each year for me, I feel good knowing that I’m optimizing every purchase.
Attainable welcome offer and attractive referral bonus
New cardholders can take advantage of a $200 cash sign-up bonus after spending $500 within three months of opening the account. Unlike some credit cards, which have a difficult-to-reach spending threshold for their welcome offers, the SavorOne’s threshold is much more attainable.
If, like me, you’ve had the SavorOne card for a while and have already redeemed your welcome offer, you can also earn extra cash back by referring friends to the card. You’ll typically receive a cash bonus for each person who opens a SavorOne card through your unique referral link. However, note that the specific referral bonus you’ll get is based on the product you have. You can sign in to your account to see if you’re eligible for a referral bonus offer.
The bottom line
I love the Capital One SavorOne Cash Rewards because it rewards me for some of life’s pleasures like dining out, entertainment and watching Netflix, as well as mundane necessities like getting groceries. It also comes in handy by saving me money on foreign transaction fees when I shop or travel abroad. These are just some of the reasons the SavorOne card will be a staple in my wallet for years to come.
The information about the Bank of America® Customized Cash Rewards credit card was last updated on May 24, 2023.