Capital One SavorOne credit card review: A no-annual-fee card for food and entertainment
Capital One SavorOne Cash Rewards Credit Card overview
The Capital One SavorOne Cash Rewards Credit Card is a solid card with no annual fee (see rates and fees) that is great for those who regularly spend on dining and entertainment. It offers bonus rewards on dining, entertainment, popular streaming services, and at grocery stores, making it a good starter product for foodies and regular concertgoers. Card Rating*: ⭐⭐⭐½
*Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The Capital One SavorOne Cash Rewards Credit Card is the no-annual-fee version of the higher-end Capital One Savor Cash Rewards Credit Card.
The Capital One Savor charges a $95 annual fee and earns 4% cash back on dining, entertainment, and select streaming services, 3% back at grocery stores, and 1% everywhere else. That's a small 1% improvement over the Capital One SavorOne in select categories.
So if you don't want to pay an annual fee (see rates and fees) but still enjoy a solid cash-back return on meals, groceries and entertainment, the SavorOne is a great choice.
Before we dig in, it's worth mentioning that applicants will want a good to excellent credit score (670 to 850) for the best chance at approval. Now, let's see if this is the card for you.
The information for the Capital One Savor card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Capital One SavorOne welcome offer
The SavorOne is currently offering a sign-up bonus of a one-time $200 cash bonus welcome bonus after spending $500 in purchases within the first three months of account opening, which is fairly typical for a no-annual-fee cash-back card.
While not mind-blowing, this bonus does represent a 40% return on your initial layout, and the low minimum spending threshold should be achievable for most people. The current sign-up bonus is the usual offer given to applicants and an excellent opportunity to earn $200 cash back with a low spend requirement.
Related: The 9 best elevated credit card offers right now
Capital One SavorOne benefits
For a card with no annual fee, the SavorOne comes with some nice perks. For starters, this is a card you can bring abroad, as there are no foreign transaction fees (see rates and fees). Essentially, this means that you should continue to earn 3% cash back on international dining, so long as the merchant codes as dining. Cardholders also enjoy travel accident insurance, roadside assistance, secondary car rental insurance and extended warranty protection.
If you need help making a restaurant reservation, buying concert tickets or planning travel, you can call the card's concierge service 24 hours a day, 365 days a year. It's certainly not the norm for a no-annual-fee card to have a concierge service, so this is a nice little perk if you can take advantage of it.
The SavorOne also features some useful security features, including virtual card numbers, which allow you to generate one-time-use card numbers for online purchases, so you don't need to provide your actual card number. It also allows you to lock your card in the Capital One mobile app rather than canceling it immediately if it's temporarily misplaced or lost.
Related: The best cards for entertainment
Earning cash back on the Capital One SavorOne
The Capital One SavorOne offers generous bonus categories when compared to other no-annual-fee cash-back cards and even some cards that do have annual fees. The real highlight is the higher cash back in the dining and entertainment categories, though you can also get some value with extra cash back at grocery stores.
- 8% cash back on Capital One Entertainment purchases
- 5% cash back on hotels and rental cars booked with Capital One Travel
- 3% cash back on dining, entertainment, popular streaming services, and grocery stores
- 1% on all other purchases
Although the definition of dining and entertainment is broad, as previously noted, don't forget to read the card's fine print. The SavorOne excludes Target and Walmart purchases, even if you're just buying groceries from these stores. Likewise, certain streaming services are excluded.
Related: How credit card issuers classify travel and dining purchases
Redeeming cash back on the Capital One SavorOne
It's simple to redeem cash back with this card by requesting a statement credit, check or gift card. All you have to do is initiate the redemption through the Capital One app or your online account. You can also redeem your cash back directly at Amazon.com.
Furthermore, if you have a credit card that earns Capital One miles such as the Capital One Venture X Rewards Credit Card, you also have the option to convert the cash back you earn at a 1:1 rate (one cash-back point to one mile) into Capital One miles and transfer them to the program's various airline and hotel partners, such as Air Canada Aeroplan and Wyndham Rewards, from there. This represents a huge potential value if travel is the reward you're after.
Given the SavorOne's bonus earning rates, this can be a good rewards route to take, especially if you can leverage any of Capital One's transfer sweet spots.
Related: How to redeem Capital One miles for maximum value
Which cards compete with the Capital One SavorOne?
When it comes to earning cash-back, a card with a different earning structure might be a better fit for your wallet. Here are some to consider:
- If you want a simpler earnings rate: The Capital One Quicksilver Cash Rewards Credit Card (see rates and fees) has no annual fee and earns 1.5% unlimited cash-back on all purchases, making it great if you have expenses outside of the Savor's bonus categories. For more information, read our full review of the Quicksilver.
- If you prefer Chase: The Chase Freedom Flex earns 5% back on travel purchased through Chase Ultimate Rewards, 3% on dining and 3% at drugstores. It also has rotating bonus categories, where you can earn up to 5% each quarter after activation (up to $1,500). For more information, read our full review of the Freedom Flex.
- If you prefer Amex: The Blue Cash Preferred® Card from American Express has a $0 introductory annual fee (see rates and fees) for the first year and then $95 thereafter. The card earns 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% on select U.S. streaming subscriptions, 3% on transit, including taxis/rideshare, parking, tolls, trains, buses, 3% at U.S. gas stations and 1% on other purchases. For more information, read our full review of the Blue Cash Preferred.
For additional options, check out our full list of the best cash-back credit cards.
Read more: How to make a no-annual-fee card strategy
Is the Capital One SavorOne worth it?
This is a great card to have if dining and entertainment are major spending categories for you. You can maximize your earning if you have also a card that earns Capital One miles. However, if you'd rather have a flat earning rate on all spending without having to keep track of bonus opportunities, then other cash-back cards might be better suited for you.
Bottom line
The Capital One SavorOne Cash Rewards Credit Card is definitely a card to consider if you spend a lot on dining, groceries and entertainment. If you're looking to rack up cash back in these categories, then it's a great choice. If travel redemptions are what you are after, you'll want to pair it with a Venture Miles-earning credit card or choose a travel rewards credit card from another issuer.
Learn More: Capital One SavorOne
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
For rates and fees of the Amex Blue Cash Preferred, click here