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Capital One SavorOne Cash Rewards Credit Card [2024] Review: Useful Elevated Cashback Categories

This card rewards spending on groceries, entertainment, and dining out.

Updated Sept. 24, 2024
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Capital One SavorOne Cash Rewards Credit Card

Capital One SavorOne Cash Rewards Credit Card
4.9
info

OUR VIEW

The Capital One SavorOne Cash Rewards Credit Card(Rates and fees) has useful ongoing elevated reward categories, making it a card worth considering. It’s especially good for foodies, whether you like to cook at home or dine out (or both), and people who enjoy live entertainment.

You earn 3% on dining and at grocery stores (excluding superstores like Walmart® and Target®), popular streaming services, and entertainment. Groceries have gotten very expensive these days, so cashback there could go a long way, assuming you do your shopping someplace other than Walmart or Target.

It also has entertainment as an elevated reward category, so if you frequently go to concerts or pro sports events, this card could be a good fit.

And it has a $0 annual fee, so you won’t pay just to have it in your wallet.

Pros

An achievable early spend bonus
Solid intro APR offers on purchases and balance transfers. Note that a balance transfer fee applies.
No foreign transaction fees.

Cons

Walmart and Target aren’t included in the grocery rewards category.
Doesn’t count Amazon Prime as a qualifying streaming service.
How we evaluate products

SavorOne card basics

Card type Cash Back
Card issuer Capital One
Credit card network Mastercard
Annual fee $0
Early spend bonus Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
Reward rate 3% cash back on dining and at grocery stores (excluding superstores like Walmart® and Target®), popular streaming services, and entertainment; 5% back on hotels and rental cars booked through Capital One Travel; 8% cash back on Capital One Entertainment purchases; and 1% cash back on all other purchases
Recommended credit score Excellent, Good
Intro APR 0% intro APR for 15 months on purchases, then 19.99% - 29.99% (variable) APR

0% intro APR for 15 months on balance transfers, then 19.99% - 29.99% (variable) APR; Balance transfer fee applies

Foreign transaction fee None

Who should get this card?

This card is a good match for folks who have high spending on groceries, dining, or entertainment.

That’s a pretty broad statement, I know. Here are some examples of who that might include:

  • Families with high grocery bills that don’t buy those groceries at Walmart or Target
  • Someone working a fast-paced job who doesn’t have time to cook and relies on take-out
  • A foodie couple that enjoys checking out hot new restaurants and loves fine dining
  • A Swiftie who is hitting as many concerts as possible
  • A die-hard fan of the 49ers, the Cowboys, the Bulls, the Nationals, the Bruins, or any other pro sports team and wants to attend games in person

While this card does include streaming as a higher-earning category, the cost of streaming services generally isn’t high enough to make it worth using this card over another one.

For example, Netflix’s highest-tier plan is about $23 per month. With a 3% cash back rate, that comes to less than $1 in cash back. So the streaming category boosts your overall cash back if you have high spending in one of these other categories, but it’s not going to contribute a lot on its own.

Other benefits

Solid early-spend offer

Many credit cards offer a welcome offer within a few months of opening an account if you meet certain requirements, and this card is no exception. With the Capital One SavorOne, you could earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening.

That’s an achievable bonus and comparable to other cards. For example, the Chase Freedom Flex® has a welcome offer where you can earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

Intro APR periods

The Capital One SavorOne Cash Rewards Credit Card(Rates and fees) provides these 0% intro APR offers.

  • 0% intro APR for 15 months on purchases, then 19.99% - 29.99% (variable) APR
  • 0% intro APR for 15 months on balance transfers, then 19.99% - 29.99% (variable) APR.

Intro APR offers could be valuable for multiple reasons. You might consider an intro APR offer on purchases if you have upcoming large expenses that you want to pay for over time. For intro APR offers on balance transfers, you might want to turn high-interest debt into no-interest debt for a certain amount of time.

There are cards with significantly longer intro APR periods available on balance transfers, though. The Wells Fargo Reflect® Card offers 0% intro APR for 21 months from account opening on qualifying balance transfers, then 17.74%, 24.24%, or 29.49% Variable. There’s a balance transfer fee of 5%, min: $5.

That said, most balance transfer cards like the Reflect don’t have ongoing rewards, so if you’re confident you can get your purchase or balance transfer paid off within the intro period, it could be the best of both worlds if you go with the SavorOne card. You can manage a purchase or balance transfer and then enjoy ongoing rewards.

Capital One Savor Cash Rewards Credit Card and SavorOne

To keep things interesting, Capital One actually has two Savor cards: the SavorOne and the Capital One Savor Cash Rewards Credit Card*. The Savor has a higher reward rate of 4% on dining, entertainment, and select streaming services. It also has an annual fee of $95 and is aimed at those with excellent credit.

You would have to spend more on the Savor card to offset the annual fee, while you don’t have to worry about that with the SavorOne. And the SavorOne is designed for those with good credit or better rather than excellent. Plus, the Capital One SavorOne Cash Rewards Credit Card(Rates and fees) has 0% intro APR offers on purchases and balance transfers.

Here’s a side-by-side comparison:

SavorOne Savor
Annual fee $0 $95
Reward rate
  • 3% on dining and at grocery stores (excluding superstores like Walmart® and Target®), popular streaming services, and entertainment
  • 8% on Capital One Entertainment purchases
  • 5% on hotels and rental cars booked through Capital One Travel
  • 1% on all other purchases
  • 4% on dining, entertainment, and select streaming services
  • 3% on grocery stores (excluding superstores such as Walmart® and Target®)
  • 8% on Capital One Entertainment
  • 10% on purchases made through Uber & Uber Eats (through 11/14/2024)
  • 1% on all other purchases
Early spend bonus Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening Earn a $300 cash bonus after spending $3,000 in the first 3 months
Introductory offers
  • 0% intro APR for 15 months on purchases, then 19.99% - 29.99% (variable) APR
  • 0% intro APR for 15 months on balance transfers, then 19.99% - 29.99% (variable) APR; Balance transfer fee applies
None

Learn more in our Savor review.

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 Cash Rewards 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: $1,145

Year two earnings: $845

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

Category Rewards rate
Capital One Entertainment purchases
8%
Hotels and rental cars booked through Capital One Travel
5%
Dining and at grocery stores (excluding superstores like Walmart® and Target®), popular streaming services, and entertainment
3%
All other purchases
1%

You can earn the maximum with the Capital One SavorOne Cash Rewards 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 benefit you.

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 bonus cash back on college sports events, unless they're booked through Capital One Entertainment.

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 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 card.

Maximizing your redemptions

Redeeming your cash back with the SavorOne is very flexible. 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. You don’t have to worry about redeeming by a certain time as cashback rewards don’t expire as long as your account remains open.

You can also redeem your cash back for travel with Capital One Travel. I’ve had good experiences doing just that. I’ve booked hotel rooms through there for a Vegas trip. I had to move my reservation and switch hotels, and I was able to do all of that seamlessly through the travel portal.

FAQ

Is the Capital One SavorOne Cash Rewards 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 main difference between the two cards is that the Chase Freedom Flex has rotating categories, while the SavorOne has fixed categories.

The Capital One SavorOne Cash Rewards card earns you 3% cash back on dining and at grocery stores (excluding superstores like Walmart® and Target®), popular streaming services, and entertainment; 5% back on hotels and rental cars booked through Capital One Travel; 8% cash back on Capital One Entertainment purchases; and 1% cash back on all other purchases. It also has an early spend bonus where you can earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening.

The Chase Freedom Flex® earns you 5% cash back on rotating quarterly categories you activate (on up to $1,500 spent) and travel purchased through Chase Travel℠; 3% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service); and 1% cash back on all other purchases. And it has a comparable welcome bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

What credit score do you need for the Capital One SavorOne Cash Rewards?

You’ll likely need a good or excellent credit score to get approved for the Capital One SavorOne Cash Rewards card. Keep in mind that your credit score is only one factor that card issuers consider, and that having a certain credit score doesn’t guarantee approval.

Bottom line

The Capital One SavorOne Cash Rewards Credit Card(Rates and fees) is a $0-annual-fee card with useful reward categories and redemptions. If you’re a foodie, value entertainment, or are a bit overwhelmed with grocery store prices these days, it could be a valuable addition to your wallet.

If you like the idea of cashback but you aren’t sure this card is a match, check out our list of other top cash back credit cards.

* All information about Capital One Savor Cash Rewards Credit Card has been collected independently by FinanceBuzz and has not been reviewed by the credit card issuer.

 

Author Details

Melinda Sineriz, ABFP™

Melinda Sineriz is a Lead Editor at FinanceBuzz and an Accredited Behavioral Finance Professional™ designee. Melinda has a B.A. in English from Miami University and a master’s degree from Bard College. Before focusing on personal finance content, she worked in insurance for six years, educating clients on Medicare supplements, life insurance, long-term care, and annuities.