Credit Card Credit Card Reviews

Capital One SavorOne Rewards Credit Card Review

overall rating
4.6

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The Capital One SavorOne Rewards credit card offers unlimited 3% cash back rewards on dining and entertainment, with no annual fee. This card can also be fairly lucrative for supermarket and everyday spending, with 2% cash back rewards on grocery stores and 1% cash back on all other purchases, again unlimited in both cases.

Capital One® SavorOne® Cash Rewards Credit Card

overall rating
4.4
Capital One® SavorOne® Cash Rewards Credit Card
On Capital One's Secured Site.

Current Offer:

Earn a one-time $150 cash bonus once 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 (%) 15.49% - 25.49% variable
Annual Fee $0
Rewards Earning Rate Earn 3% cash back on dining, 3% on entertainment, 2% at grocery stores, and 1% on all other purchases.
INTRO PURCHASE APR 0% for 15 Months
INTRO BALANCE TRANSFER APR 0% for 15 Months
Balance Transfer Fee 3% for transfers made within the first 15 months.$0 thereafter.
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 Capital One SavorOne Rewards Credit Card

Pros
  • Generous cash rewards rate for dining and entertainment purchases

  • Doesn't impose some frequent fees

Cons
  • Introductory cash bonus is small

  • Excellent credit recommended for approval

Pros Explained

  • Generous Cash Rewards for Dining and Entertainment: The Capital One SavorOne offers handsome rewards on going out, with its unlimited 3% cash back on purchases that are coded as dining and entertainment. Those transactions include spending at restaurants, bakeries, movie theaters, concert halls, and other entertainment venues.
  • Doesn't Impose Some Frequent Fees: The Capital SavorOne's absence of an annual fee is welcome, especially considering its fairly fulsome rewards. But the card also skips charging a foreign transaction fee or imposing a penalty APR as part of its late fees.

Cons Explained

  • Introductory Cash Bonus Is Small: This card has a $150 cash bonus, which is on the less generous end of such offers. Granted, the spending requirement is also on the low side: just $500 within the first three months you own the card. But other cards with no annual fee offer more for the same "spend," including Chase Freedom and Chase Freedom Unlimited, both of which offer a $200 bonus.
  • Excellent Credit Recommended for Approval: Capital One assigns each of its cards a credit level that's recommended for approval to help applicants gauge how likely they are to be approved. This card recommends a credit level of "Excellent," which could make it harder to qualify if you have fair or good credit. It may be worthwhile to check your credit report and score before applying to determine if your score lands in the "Excellent" range. 

This Card is Best For

  • Avatar for Cash Back Strategist Persona
    Seeks to maximize cash back earnings across spending categories
    Cash Back Strategist
  • Avatar for Frequent Diner Persona
    Dines out regularly while traveling or in home city
    Frequent Diner
  • Avatar for Head of Household Persona
    Primarily responsible for household grocery and other major purchases
    Head of Household

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—and risking that they won't recoup its cost. Its introductory bonus also makes it ideal for those who don't plan to charge a lot to the card, requiring only $500 in spending over three months in order to earn $150 in cash. 

The Capital One Savor One Rewards is worth considering, too, by those who mostly cook their own meals. The unlimited 2% cash back at grocery stores is a very respectable rate, especially for a card with no annual fee. If you’re a typical household, spending about $4,500 a year on groceries, food spending would alone yield $90 a year in cash back earned at the 2% rate. 

This is also a decent card if you plan to make purchases outside the U.S., since it has no foreign transaction fee. 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

This card has an introductory one-time offer of $150, which you can earn by spending $500 on purchases within the first three months of opening your account. That's not a difficult sum to reach, breaking down to a modest $167 per month. Indeed, you could reach the target by charging several weeks of groceries or a few dinners out with friends and family.

Rewards Earning Details

Cash back rates range from 1% to 3%, with the highest rewards tier reserved for dining and entertainment. You earn 3% cash back on those purchases, 2% cash back at supermarkets, and 1% cash back on everything else. Those rewards are unlimited and your cash back never expires as long as your account remains open and in good standing. 

A few things to note about dining, entertainment and grocery rewards. To qualify for the higher reward rate, purchases must be assigned to the proper merchant category. Capital One notes that 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 accordingly. 

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 supermarket qualifies for the 2% 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. 

Rewards Redemption Details

Rewards can be redeemed for a statement credit, check, gift cards. or merchandise. No minimum amount of cash back is required in order to redeem, and you can do so at any time. You can also set up automatic redemption options to redeem rewards at a specific date or once you reach a certain dollar amount.

Gift cards are sold on a 1:1 basis—that is, you receive a card with the same value as the rewards you used to buy it. Partners range from Target, Walmart, and Sam's Club through Amazon and Macy's to Subway, Cracker Barrel, Panera, and Outback Steakhouse. Cards are issued only as physical cards that are mailed to you.

How to Maximize Your Rewards

To get the most from this card, you can start by qualifying for the introductory $150 one-time offer. The $500 minimum spending requirement should be a fairly easy target to hit within the first three months.

You can continue to maximize your cash back earnings by using your card widely, and especially for dining, entertainment, and grocery store purchases. Let's assume you go out more than most people, and spend $750 per month on dining and entertainment (about 25% above the norm, according to the Bureau of Labor Statistics) and $400 on groceries (about the average). On an annual basis, you'd earn $270 in cash back on the former and $96 on the latter, for a total of $366.

Capital One SavorOne Credit Card's Outstanding Benefits

  • Save money instantly with Paribus
  • Find the best price on online purchases with Wikibuy
  • Complimentary 24/7 concierge service

Standard Benefits

  • Extended warranty protection
  • Travel accident insurance
  • 24-hour travel assistance services
  • Access to exclusive tickets for entertainment and sporting events

Cardholder Experience

Capital One earned a rating of 807 in J.D. Power's 2019 Credit Card Customer Satisfaction Survey. That placed the company third among card issuers, behind only Discover and American Express. 

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 and Experian credit reports. 

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

Our Verdict

For a card with no annual fee, the Capital One SavorOne credit card offers an outstanding, even unequaled, cash back rate for dining and entertainment. Indeed, its rewards are so good that this card may prove as cost-effective as others that target the same categories and charge a fee. 

For example, this card's sibling, the Capital One Savor Rewards, charges $95 after its first year and offers 4% rather than 3% in cash back rewards on dining and entertainment (other rates are all but equal for the two cards). By our calculations, using our example of a household that eats out and is entertained more than most, you’d make $96 more in rewards with the Capital One Savor card—which is almost precisely its $95 annual fee. Unless the relatively modest differences in perks between the cards matter to you, the Capital One SavorOne looks like a safer bet for all but the highest of high-rolling households.

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For Capital One® SavorOne® Cash Rewards Credit Card
on Capital One's Secured Site.
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CURRENT CARD
Capital One® SavorOne® Cash Rewards Credit Card
overall rating
4.6
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 (%) 15.49% - 25.49% variable
Annual Fee $0
Rewards Earning Rate Earn 3% cash back on dining, 3% on entertainment, 2% at grocery stores, and 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.