The Capital One SavorOne Cash Rewards Credit Card appeals to those who frequently dine out or go to the movies. This card offers card holders a cash back value of 3% on dining and entertainment purchases. This card also offers a no annual fee perk making it slightly different from its sibling card (Capital One Savor Card). It also offers a $150 cash bonus upon meeting the new member requirements. We’ll cover all of the details throughout this detailed review of the Capital One SavorOne Credit Card. Let’s dive in.
- Earn $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
- Earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®)
- Earn 1% on all other purchases
- 0% intro APR on purchases for 15 months
- No foreign transaction fee
- No annual fee
Rating
Capital One SavorOne Cash Rewards Credit Card Rating
Summary
The Capital One SavorOne Cash Rewards Credit Card earns high marks for its excellent signup bonus, up to 3% cash back, and low fees.
Pros & Cons
What we like
- Earn 3% on dining and entertainment purchases
- Earn $200 cash back Welcome Bonus
- No annual fee
- 0% APR for the first 15 months
- No foreign transaction fees
What could be better
- High APR after the first 15 months passes
- 3% on balance transfers during the intro APR
- Requires excellent credit
Welcome Bonus
The Capital One SavorOne Cash Rewards Credit Card currently offers new card holders $200 in cash back. All you have to do to receive this bonus offer is spend a minimum of $500 within your first $3 months of having your account activated.
Capital One SavorOne Cash Rewards Credit Card Rewards
Earning Rewards
Earning rewards with the Capital One SavorOne Cash Rewards Credit Card is very easy and simple. Card holders will earn
- 3% cash back on their dining and entertainment purchases
- 2% at grocery stores, and
- 1% on all other purchases.
A couple things to keep in mind when using this card for purchases is that for the 3% reward, you can only use the card at locations such as:
- Restaurants
- Bars
- Cafes
For the 2% reward rate, you would need to use the card at locations such as:
- Supermarkets
- Specialty markets
Stores like Walmart or Target are excluded from this category.
You can also earn up to $500 when you refer a friend to Capital One for this card. If they are approved, then you will earn $100 in statement credits for each person. This program allows you to earn up to $500 each year.
Redeeming Rewards
Rewards can be set up to be redeemed automatically at a set time each year or when rewards reach a specific threshold (e.g., $25, $50, $100, $500 or $1,500). Card holders can redeem rewards via cash back in the form of a check, statement credits or gift cards.
With gift cards, the standard rate is that each point is worth $0.01:
- 2,500 points = $25
- 5,000 points = $50
- 7,500 points = $75
- 10,000 points = $100
- 15,000 points = $150
- 20,000 points = $200
- 25,000 points = $250
With store branded gift cards, the value of rewards can vary.
0% Introductory Rates
The Capital One SavorOne Cash Rewards Credit Card offers a 0% introductory APY for the first 15 months from account activation. This rate applies to purchases only, not to balance transfers. Once the introductory rate expires, the regular APR will apply to any remaining balance.
Capital One SavorOne Cash Rewards Credit Card Benefits
- Account Alerts: You will be sent an alert if Capital One finds a mistake or unexpected charge.
- Personalized Payment: This allows you to pick your own monthly due date, and even your payment method for no cost.
- Autopay: Choose to have your payment automatically withdrawn from your account monthly.
- 0% Fraud Liability: You will not be held responsible if your card becomes lost or stolen.
- Card Lock: This feature allows you to lock your card if you lose it, or if it gets stolen. This will prevent the card from being used.
- Security Alerts: If any suspicious activity is seen on your account, Capital One will notify via email, text, etc.
- 24 Hour Travel Assistance: This service helps you by getting you an emergency replacement card, or even a cash advance if your card becomes lost or stolen.
- No Foreign Transaction Fees: No transaction fees when traveling outside of the United States.
- Roadside Assistance: Find assistance with this benefit when you’re needing a tire change, need a jump, or even a tow.
- Extended Warranty: Items you purchase with your credit card will get additional warranty coverage at no cost.
- Auto Rental Collision Damage Waiver: Rent a vehicle with your credit card, and you will be covered for damage due to collision or theft.
- Eno Your Capital One Assistant: With this feature, Capital One will send you an alert if they find a mistake, or unexpected charge like a duplicate purchase or a sudden bill increase. Eno is active 24/7 and can always answer questions wherever you are.
FAQs
Capital One uses a merchant category code that determines if a purchase is accepted in one of their cash back categories. At times, a purchase may not earn the cash back reward, if some merchants categorize their business under a different category. For example, a food truck may categorize itself under a merchandise code instead of a dining code.
Nope. As long as your account remains open your rewards will remain intact.
It all depends on how much spending you plan on doing with either card. If you are spending thousands of dollars each month on dining and entertainment and don’t mind an annual fee, then the Savor Card is ideal. The SavorOne card may not have an annual fee or earn as high of rewards, but if you aren’t going to be spending in the area of more than $5,000 each month, then using the SavorOne Card may be better for you.
