The Capital One SavorOne Cash Rewards Credit Card is an excellent option for foodies who enjoys dining out or anyone who enjoys spending on fun purchases, like tickets to special events. It has a $0 annual fee, making it an excellent frugal cashback choice, and offers unlimited bonus cash back on dining and entertainment.
Cash Back With No Annual Fee
- $200 early spend bonus
- No annual fee
- 0% intro APR on purchases
- 3% unlimited cash back on dining and entertainment
- Minimal travel benefits
- Lower bonus cash back than some other cards
Who should get the Capital One SavorOne Cash Rewards Credit Card?
If you’re looking for a generous cashback card that rewards dining and entertainment purchases, the Capital One SavorOne Cash Rewards Credit Card is an ideal choice. Since the card also offers a 0% introductory APR on purchases for the first 15 months, it’s also a good option for people who want to avoid paying interest, even without paying their balance in full.
That being said, if you spend enough on dining and entertainment that the 4% cash back on the big brother to this card, the Capital One Savor Cash Rewards Card, can make up for its $95 annual fee, setting your sights on the upgraded version of this card might make sense for you, especially since it comes with a bigger early spend bonus for new account holders.
|Card type||Cash Back|
|Card issuer||Capital One|
|Credit card network||Mastercard|
|Early spend bonus||Earn a $200 one-time cash bonus after spending $500 in the first 3 months|
|Reward rate||3% unlimited cash back on dining and entertainment, 2% at grocery stores (excluding superstores like Walmart and Target), and 1% cash back on all other purchases|
|Recommended credit score||Excellent, Good|
|Intro APR||0% for 15 months on purchases|
|Foreign transaction fee||None|
Capital One SavorOne benefits and perks
- Generous early spend bonus offer: Earn a $200 one-time cash bonus after spending $500 in the first 3 months.
- $95 annual fee: Unlike the more expensive Capital One Savor Cash Rewards Card, the SavorOne has no annual fee. You save $95 annually with the SavorOne compared to the Savor Cash Rewards.
- Long intro APR period: This card offers a promotional 0% APR on purchases for 15 months after account opening. After that, your balance will be subject to the regular variable APR. To make the most of this offer, you'll want to have your balance paid off before the regular APR kicks in.
- Simple yet generous rewards program: Cardholders can earn 3% unlimited cash back on dining and entertainment, 2% at grocery stores (excluding superstores like Walmart and Target), and 1% cash back on all other purchases. And, rewards redemption is easy — you can set up automatic redemption and choose to redeem for a statement credit, a check, or gift cards.
- No foreign transaction fees: If you want to travel or make purchases outside of the U.S., you won’t have to pay a foreign transaction fee for charges abroad.
Drawbacks to this card
- Mastercard network: While Mastercard is accepted all over the world, there are some merchants that do not accept it. For example, you can't use a Mastercard at Costco, but you can use a Visa. That said, if you primarily use this card to earn cash back on dining and entertainment, this likely won't be an issue.
Earning & redeeming cash back
Potential earnings in years one and two
Here's a look how your cash back can add up with the Capital One SavorOne card. To calculate these values, we used a point valuation of 1 cent.
Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.
Year one earnings: $796
Year two earnings: $596
These values are based on the FinanceBuzz Credit Card Rewards Valuation Model which takes a look at points earned via spending, the early spend bonus, and the annual fee.
Best ways to earn
The Capital One SavorOne Cash Rewards Credit Card makes it easy for cardholders to earn cash back because it has no rotating categories to keep track of. It does provide several bonus rewards categories as well a base level of cash back on all other purchases. There are no limits to the total cash back you can earn or the bonus cash back you’re eligible for — and cash back never expires. The table below shows how much cash back you can earn for different categories of spending when you charge purchases on your Card.
|Dining and entertainment||3%|
|Grocery store purchases (excluding superstores like Walmart and Target)||2%|
|All other purchases||1%|
Maximizing your redemptions
You can earn the maximum with the Capital One SavorOne Cash Rewards Credit Card by shopping for purchases classified as dining or entertainment or by using it at grocery stores.
Cash back on dining can be earned at bars, restaurants, cafes, fast-food chains, bakeries, and lounges. So whether you like to dine-in or eat takeout, this card can be of benefit. And there’s a long list of entertainment purchases you can earn cash back on, including purchases at record stores, bowling alleys, and dance halls as well as on tickets for amusement parks, live sporting events, and tourist attractions, such as zoos and aquariums. You can’t earn cash back on streaming services, though, nor on college sports events.
Since purchases at grocery stores also give you bonus cash back, making grocery store purchases with your card makes sense. Be aware, though, that big-box stores, such as Walmart and Target, aren’t classified as grocery store spending by most of the best credit cards for buying groceries. Avoid doing your grocery store shopping at those places if you want to earn the most possible rewards with your Capital One SavorOne Cash Rewards Credit Card.
How do I redeem my Capital One SavorOne cash back?
Cash back can be redeemed by logging into your account. You can opt to get your cash back as a statement credit, can request a check, or can use cash back to purchase gift cards. You also have the option to set up automatic redemptions on a specific date or when your cash back reaches a certain dollar amount, which is advisable. You do not have to worry about redeeming by a certain time as cash back rewards don’t never expire.
Is the Capital One Savor One or the Chase Freedom Flex a better card?
Which card is better for you will depend on your personal budget and spending habits. You should pick the card that rewards you best for the spending you do or the spending you have planned.
The Capital One SavorOne earns you 3% unlimited cash back on dining and entertainment, 2% at grocery stores (excluding superstores like Walmart and Target), and 1% cash back on all other purchases. It also has an early spend bonus where you can earn a $200 one-time cash bonus after spending $500 in the first 3 months.
The Chase Freedom Flex earns you 5% on rotating quarterly categories (on up to $1,500 spent) and travel purchased through the Chase Ultimate Rewards portal; 3% at restaurants (including takeout and delivery) and drugstores; and 1% on all other purchases. But it has a more robust welcome bonus: Earn $200 cash back after spending $500 on purchases in the first 3 months, plus on .
Is the Capital One SavorOne or the Capital One Savor a better card?
Both the Capital One SavorOne Cash Rewards and the Capital One Savor Cash Back Rewards cards are good credit cards — the only question is which card makes the most sense for you. The Savor Cash Back Rewards Card comes with a $95 annual fee after the first year, but you get a better cash back rate on dining and entertainment with the Savor than you do with the SavorOne.
And if you spend at least $9,500 annually on dining and entertainment, the extra cash back you get makes up for the annual fee on the Savor Card, so the Savor could make more sense for you. In making your decision, it can help to compare the Capital One Savor vs. SavorOne cards directly and see which better fits your spending habits.
What credit score do you need for the Capital One SavorOne Cash Rewards?
Credit card issuers typically run a hard inquiry to your credit report when you apply for a new card. With that in mind, you’ll likely need an excellent credit score to get approved for the Capital One SavorOne Cash Rewards Credit Card.
Other cards to consider
The Capital One SavorOne is among the best credit cards if you want a no-annual-fee card that also gets you great rewards on entertainment or dining. But if these bonus categories don't sound like the best fit for you, there are other credit card offers to consider.
If you prefer to earn flexible travel rewards, then you might check out the Chase Sapphire Preferred. With this card, you earn bonus Ultimate Rewards points on dining and travel, plus you get a variety of travel benefits and extended warranty protection. You can also earn a welcome bonus of 80,000 points after meeting the spending requirement of making $4,000 in new purchases in the first 3 months after account opening.
If you prefer a card with a flat-rate, unlimited rewards program, then you might like the Capital One Quicksilver Cash Rewards Credit Card. This card earns 1.5% cash back rewards on every purchase, every day. With this simple earning rate, it's easy to rack up cash back on all your spending. This card also has an intro APR offer of 0% for 15 months on purchases.
Cash Back With No Annual Fee
Earn a $200 one-time cash bonus after spending $500 in the first 3 months
See how these cards compare:
Chase Sapphire Preferred
- 80,000 point sign-up bonus
- Up to $50 statement credit for grocery store purchases
- 2X points on eligible dining and travel purchases
- 25% more value when redeeming rewards for travel through Chase Ultimate Rewards
- Premium travel protection benefits
Capital One Quicksilver Cash Rewards Credit Card
- $200 early spend bonus
- No annual fee
- 0% intro APR on purchases for 15 months
- 1.5% cash back on every purchase, every day