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 |
|
|
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 |
|
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.