Credit Cards Best Credit Card Companies

Capital One SavorOne Rewards Credit Card Review

overall rating
4.8

A great card with low interest, no annual fee, attractive rewards and benefits

We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more.

The Capital One SavorOne Rewards credit card offers 3% cash back on dining, entertainment, popular streaming services, and groceries, plus 1% on all other purchases.

Capital One SavorOne Cash Rewards Credit Card

Overall Rating
4.8
Capital One SavorOne Cash Rewards Credit Card
On Capital One's Secured Site.
Current Offer

Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening.

Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 19.74% - 29.74% variable
Annual Fee $0
Rewards Earning Rate Earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores, plus 1% on all other purchases.
INTRO PURCHASE APR 0% for 15 Months
INTRO BALANCE TRANSFER APR 0% for 15 Months
Balance Transfer Fee 3% of the amount of each transferred balance that posts to your account during the first 15 months that your account is open or at a promotional APR that we may offer you at any other time.
Foreign transaction fee (%) 0%
how this card stacks up
When compared among all rewards cards in our database:
Rewards
Benefits
Low Fees
Security/Customer Experience
Low Interest
worst best

Full Review of the Capital One SavorOne Rewards Credit Card

Pros
  • Generous cash rewards for dining, entertainment, and groceries


  • No annual fee

  • $200 initial cash bonus

  • 0% intro APR

  • Doesn't impose some typical fees

Cons
  • Excellent credit recommended for approval

  • 3% balance transfer fee

Pros Explained

  • Generous cash rewards for dining, entertainment, and groceries: The Capital One SavorOne offers handsome rewards for going out, with its 3% cash back on dining, entertainment, popular streaming services, and groceries, plus 1% on all other purchases. You earn rewards by spending at restaurants, bakeries, movie theaters, concert halls, other entertainment venues, and grocery stores.
  • No annual fee: The absence of an annual fee is welcome, especially considering the robust rewards.
  • $200 initial cash bonus: Enjoy a $200 bonus if you spend $500 within the first three months of opening your account.
  • 0% intro APR: Pay no fees on purchases and balance transfers for the first 15 months.
  • Doesn't impose some typical fees: Capital One charges no foreign transaction fee and there's no penalty APR associated with late payments,

Cons Explained

  • Excellent credit recommended for approval: Capital One assigns each of its cards a recommended credit level for approval to help applicants select the best card for their circumstances. Capital One SavorOne has a recommended credit level of "Excellent."
  • Balance Transfer Fee: Capital One imposes a 3% fee for any balances transferred during the 15- month introductory period.

Who This Card Is Best For

The Capital One SavorOne Rewards card is best suited for someone who wants to earn solid cash-back rewards on dining and entertainment without paying an annual fee. Its introductory $200 cash bonus requires only $500 in purchases within three months from account opening, making it attractive for those who don't plan to charge a lot to the card.

The Capital One SavorOne Rewards card is worth considering, too, by those who prefer to cook at home. The 3% cash back at grocery stores is a very respectable rate, especially for a card with no annual fee. For example, if you spend $4,500 a year on groceries, that alone would yield $135 a year in cash back.

With no foreign transaction fees, this can be a smart card choice if you plan to make purchases outside of the U.S. Foreign transaction fees imposed by other cards can easily add 2% to 3% to the cost of purchases made in foreign currency, either while traveling or when buying online from a retailer based outside the U.S.

Capital One SavorOne Rewards Credit Card One-Time Offer

Earn a $200 statement credit after you make $500 in purchases on the card in the first three months you have the card. That's an average monthly spend of $167.

Rewards Earning Details

You earn 3% cash back on dining, entertainment, popular streaming services, and at grocery stores, plus 1% on all other purchases. Those rewards are unlimited, and your cash back never expires as long as your account remains open and in good standing.

To qualify for the higher reward rate, purchases must be assigned to the proper merchant category by merchants. Capital One notes that purchases at some vendors, such as food trucks, supermarket food counters, and hotel restaurants, may not qualify for the dining rewards rate if the merchant doesn't code them appropriately. 

You also won't earn 3% rewards on purchases made at golf courses, country clubs, college sporting events, charitable organizations that provide live entertainment, amusement park tickets purchased through third-party sites, or resort packages that are categorized as "travel" or "hotel." 

Additionally, not every grocery store or supermarket qualifies for the 3% cash-back rewards rate on groceries. Like some other card issuers, Capital One excludes superstores, such as Walmart and Target, as well as warehouse clubs and convenience stores. If you buy groceries at those store types, you'll earn only 1% cash back on those purchases. 

For an added benefit, you can earn unlimited 5% cash back on rental cars and hotels that you book through Capital One Travel.

Rewards Redemption Details

Rewards can be redeemed for a statement credit, check, gift cards, or merchandise. There's no minimum amount of cash that you have to redeem, and you can redeem at any time. You can also set up automatic redemptions for a specific date or once you reach a certain dollar amount.

Gift cards are issued physically by mail and sold on a 1:1 basis; you receive a card with the same value as the rewards used to buy it. Partners include Amazon, Apple, Bloomingdale's, GAP, Kohl's, and many other notable retailers.

How to Maximize Your Rewards

To get the most from this card, start by qualifying for the introductory $200 offer. The $500 minimum spending requirement should be an easy target to hit within the first three months of your account opening. You can continue maximizing your cash back earnings by using your card wisely, especially for dining, entertainment, and grocery store purchases.

Let's assume your household spends $5,200 per year dining out and $6,000 per year on entertainment. That's about 70% above the norm, according to the Bureau of Labor Statistics. Perhaps you also spend $5,300 per year on groceries (about the average). If this $16,500 in spending is charged to your Capital One SavorOne card, the 3% cash-back rate would net you $495 in savings for the year.

Capital One SavorOne Credit Card's Outstanding Benefits

Standard Benefits

  • Extended warranty protection
  • 24-hour travel assistance services
  • Access to exclusive tickets for entertainment and sporting events
  • Concierge for booking event tickets, travel, and other services

Cardholder Experience

Capital One ranked fifth out of 11 national card issuers in J.D. Power's 2022 U.S. Credit Card Satisfaction Study. It gave Capital One a score that was two points below the average.

The company offers a number of fairly standard features that help make managing your account easier, including autopay, 24/7 customer service access, and online and mobile banking access. You can also text Eno, the Capital One Assistant, to get your account balance or pay bills using your card on the go. CreditWise is Capital One's credit monitoring service, which is free to use. You can get regular credit updates based on information in your TransUnion credit report.

If you have questions, you can tweet @AskCapitalOne or call customer service at 1-800-CAPITAL (1-800-227-4825). The company, however, has no chat or email options for customer service, at least as available through its website.

Security Features

Capital One offers a number of standard security services on its cards, including:

  • Credit fraud alerts, via text, email, and phone
  • Virtual card numbers for online shopping
  • Ability to lock your card if it's lost or stolen
  • $0 fraud liability protection in the event that your card is used to make unauthorized purchases

Fees to Watch Out For

Luckily, there aren't many fees with the SavorOne Cash Rewards Card. Given that it has such a strong rewards program the lack of an annual fee is a nice benefit. However, if you want to take advantage of the the balance transfer introductory rate, be aware of the 3% fee.

Final Verdict

For a card with no annual fee, the Capital One SavorOne credit card offers outstanding cash back rewards for dining, entertainment, and grocery purchases. Indeed, its rewards are so good that this card may prove more advantageous than others that target the same categories, may have a few more perks, and charge a fee. 

Next Steps
For Capital One SavorOne Cash Rewards Credit Card
on Capital One's Secured Site.
Compare This Card
See how this card compares to similar cards
CURRENT CARD
Capital One SavorOne Cash Rewards Credit Card
overall rating
4.8
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 19.74% - 29.74% variable
Annual Fee $0
Rewards Earning Rate Earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores, plus 1% on all other purchases.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.