Capital One SavorOne Credit Card Review: Generous Cash-Back Rewards
- No annual fee
- Unlimited cashback rewards on many purchases
- Welcome bonus of $200 after spending $500 within the first 3 months of account opening
- High regular APR
- Requires a good to excellent credit score
If you have a high credit score, you can qualify for Capital One SavorOne card and earn a competitive rewards rate on streaming services, grocery stores, dining and entertainment. The card also offers other benefits and perks, such as a welcome bonus and no annual fee.
However, the card does have some restrictions when it comes to earning rewards. Here’s everything you need to know to decide if this card is right for you.
Capital One SavorOne credit card holders earn a higher cash-back rate on streaming services, dining, entertainment and groceries, excluding superstores like Walmart and Target. A 1% rewards rate applies to all other purchases.
When you use your Capital One SavorOne card for dining, you’ll earn 3%. According to Capital One, restaurants, bars, fast-food chains, bakeries, cafes and lounges will count for this category.
You’ll also earn 3% on ticket purchases you make at sports promoters, amusement parks, theatrical promoters, movie theaters, tourist attractions, dance halls, record stores, zoos, aquariums, pool halls and bowling alleys.
Entertainment experiences do not include:
- Collegiate sporting events
- Non-industry entertainment, such as membership services, cable and digital streaming
- Golf courses
Select streaming purchases are also eligible for 3% cash back. The streaming services considered eligible by Capital One include:
Other services — such as Verizon FIOS On Demand and Prime Video — are not eligible for cash back with the Capital One SavorOne card. Audiobook subscriptions and fitness programming are not eligible either.
All purchases you make at a supermarket, freezer, specialty market, meat locker or dairy product store are eligible for 3% cash back. However, this does not include superstores, such as Target and Walmart.
As evident, Capital One’s reward offers extend to quite a lot of merchants; but, if you mostly shop at widely available superstores, you’ll be missing out on a lot of rewards.
Redeeming Your Rewards
Because the rewards can also be redeemed at Amazon checkout, the Capital One SavorOne credit card makes the shopping experience a breeze for cardholders. You also can use the rewards for events and experiences where extra perks are offered exclusively to Capital One cardholders.
Capital One also partners with Uber and Uber Eats.
When you pay with the Capital One SavorOne card for your Uber or Uber Eats purchase, you get 10% cash back. You can also enjoy complimentary Uber One membership statement credits through November 14, 2024.
Capital One rewards don’t expire for the life of the cardholder’s account. You can redeem them whenever you want.
The Capital One SavorOne credit card does not have an annual fee. Additionally, there’s a 0% intro APR for 15 months. After that, there’s a APR and a 3% balance transfer fee for the first 15 months.
The Capital One SavorOne credit card is also a good option for travelers or students studying abroad since there’s no foreign transaction fee. Thus, you won’t have to pay a fee on transactions made outside the U.S.
Apart from this, here are some fees you should know about:
- Late Payment: Capital One charges a late fee of up to $40.
- Cash Advance: The cash advance fee is either 3% of the actual amount or a flat $10, whichever is greater.
- Cash Advance APR: The APR for a cash advance is 27.99% and varies according to the prime rate.
Additionally, the due date for paying your bill is 25 days after the end of the billing cycle. Capital One does not charge interest on any new purchases if you pay your balance in full by every month’s due date. The interest on transfers and cash advances is charged on the date of the transaction.
The Capital One SavorOne card comes with a $200 cash bonus as a welcome gift for cardholders. You get this cash bonus after you’ve spent $500 in the first three months of opening your account.
Although this is a good incentive, some other cards offer a higher welcome bonus.
The Capital One SavorOne credit card offers many benefits to cardholders. Here are some of them:
- No Foreign Transaction Fee: Capital One SavorOne cardholders don’t have to pay a foreign transaction fee when they shop or use their card outside the US.
- Concierge Service: Cardholders get complimentary concierge service from partner brands. You can enjoy personalized assistance in travel, entertainment and dining any day of the year.
- Extended Warranty: You get warranty protection on eligible items that you buy with your credit card. The warranty is offered at no extra charge.
- Travel Assistance: Capital One offers swift support to its customers in the event of card theft or misplacement. If your card gets lost, you can get an emergency card instantly along with a cash advance for immediate needs.
- Travel Accident Insurance: Capital One’s accident insurance automatically covers a travel-related loss if you use the card to pay for the fare.
- Instant Notifications: When you make a purchase, Capital One sends you instant notifications to alert you of the purchase.
- Amazon Shopping: If you’re an avid Amazon shopper, you’re in luck. The Capital One SavorOne credit card allows you to pay for your Amazon purchases with rewards. You simply have to link your card to your Amazon account. After that, the remaining rewards will show at checkout whenever you’re making a purchase on Amazon.
- PayPal Reward Redemption: You also can redeem your rewards to pay for all purchases paid through PayPal. That means cardholders get easy access to millions of stores around the world.
- Capital One Shopping: Capital One has an online shopping tool that sends you instant notifications if there’s a price drop on an item you were interested in. It also finds available coupons automatically and applies them to your purchase to get you a good deal during shopping. The tool can be added to Chrome as a plugin.
Security is an important aspect of credit card use, especially if you plan to make international purchases. Capital One has the following security features:
- Security Alerts: You get a text and email if there’s any suspicious activity on your account.
- $0 Fraud Liability: Capital One credit cards also come with $0 fraud liability, which means you won’t have to pay for any transactions made on your card if it’s stolen, lost or misplaced — provided you’ve reported it.
- Card Lock: If you lose your card, another way to secure yourself is to lock it through the Capital One mobile app. When you find your card, you can unlock the card for transactions again.
- Virtual Card Numbers: Capital One users get a personal assistant, called Eno. Eno provides you with virtual card numbers for your online purchases to keep your financial information safe from malicious intruders on the web.
- Account Alerts: Eno also sends account alerts if there’s an unexpected expense on your account. It also alerts you in case of a mistake on transactions.
- Credit Wise: Capital One SavorOne card users get alerts if there’s a change in their Experian or TransUnion credit report.
Capital One Mobile App
An app can make it very simple and straightforward to use and manage your credit card. The Capital One mobile app lets you monitor your finances and get notifications for all the purchases you make.
Here are some features of the Capital One mobile app:
- View Activity: You can use the app to stay on top of your transactions in real time and track your previous spending.
- Notifications: You can customize notifications and alerts to stay updated with your account activity no matter where you are.
- Statements: The app also gives you access to your transactions and account statements.
- Facial Recognition: With facial recognition, you’re the only one who can access the account.
- Lock: You can lock your credit card through the app if you lose or misplace it.
- Credit Score: The Capital One app also shows you your credit score through CreditWise. The service is available for free.
Good to Know
The Capital One mobile app is very helpful since it lets you pay your bills, manage transactions and view statements. But one of its most attractive feature is the ability to deposit checks. You just need to take a photo of the check in the app. Capital One will send you a notification when your check has been deposited.
Who Is It Best For?
The Capital One SavorOne credit card is suitable for people who dine out and shop a lot, especially if shopping through Amazon. If you want to enjoy cash back on your entertainment and dining purchases, you should definitely get this card.
How Does Capital One SavorOne Credit Card Compare to Competition?
Here’s how Capital One SavorOne measures up to other credit cards.
The Capital One SavorOne credit card can help you earn a lot of cash back on your dining and entertainment purchases. But, if you spend most of your money on travel, you should opt for the Chase Freedom Flex credit card.
It comes with a $200 welcome bonus from spending $500 in the first three months of opening your account. And for the first year only, you can earn 5% back on up to $6,000 worth of gas station purchases.
You’ll also earn 5% cash back on travel purchased through Chase and 3% on dining, including takeout. As for the rest of the purchases, Chase offers 1% cash back.
The Chase Freedom Flex credit card also offers 0% intro APR for 15 months, followed by rates of APR, and no annual fee.
Discover It Cash Back Credit Card
If your focus is on maximizing cash back, look into the Discover It Cash Back Credit Card.
For one, you get 5% cash back on rotating categories each quarter on everyday purchases at grocery stores, Amazon, gas stations, restaurants and PayPal. However, there’s a quarterly maximum for this offer.
Plus, there’s 1% cash back on all other purchases. The best part? Discover It offers Cashback Match, which means you get a dollar-for-dollar match of all your cash back for the first year of card ownership.
Like Capital One, it offers an initial 15-month 0% APR, followed by rates of , and there’s no annual fee.
The Capital One SavorOne credit card is an ideal pick if you use your credit card for dining and grocery purchases regularly. Moreover, if you want to benefit from Capital One’s impressive credit card security features and $0 fraud liability, you should opt for this card.
However, do note that you need to have a good to excellent credit score to qualify for this card. Therefore, it’s not suitable for people with poor or mediocre credit scores. Likewise, if you’re planning to use your credit card for travel rewards, this is not the one for you.
Capital One SavorOne Credit Card FAQHere are the answers to some of the most frequently asked questions about Capital One SavorOne Credit Card.
- What kind of card is Capital One SavorOne?
- The SavorOne is a Mastercard.
- Is Capital One SavorOne hard to get?
- It requires good to excellent credit.
- Is the Capital One SavorOne Cash Rewards card metal?
- Does Capital One SavorOne card have an annual fee?
- How many Capital One cards can you have at once?
- Two. In some cases, you can have more than two, but Capital One typically will not accept new applications if you have two cards on your account.
Cynthia Measom contributed to the reporting for this article.
Editorial Note: This content is not provided by Capital One. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Capital One.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of September 28, 2022.