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Capital One SavorOne Rewards Credit Card Review

Capital One SavorOne Cash Rewards Credit Card
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Capital One SavorOne Cash Rewards Credit Card
Capital One SavorOne Cash Rewards Credit Card
Michael Graw
Jan. 24, 2024
4 min read
Michael Graw
Capital One SavorOne Cash Rewards Credit Card Summary
Capital One was founded in 1994 and has grown into the second-largest issuer of credit cards in the US. The Capital One SavorOne card is a cashback rewards card offering unlimited 3% cashback on dining, entertainment, streaming, and grocery purchases. It also offers unlimited 1% cashback on all other purchases. The card has no annual fee, so it’s great for anyone who spends a lot on dining and entertainment.

Pros

  • Unlimited 3% cashback on dining, entertainment, and more
  • No annual fee

Cons

  • Requires good credit to qualify
  • Very limited travel benefits

Capital One SavorOne Cash Rewards Credit Card at a glance

10
Editorial score

Fees

$0 annual fee, 3% balance transfer fee during the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time
10.0

APR

19.99%-29.99% (variable)
10.0

Security

FDIC insured, includes an EMV chip, SSL encryption, biometric authentication, two-factor authentication, and account alerts
10.0

Customer service

24/7 service with multiple communication options
10.0

Online experience

Excellent site and app with detailed FAQs, help center, and transparency of rates and features
10.0

Capital One SavorOne Cash Rewards Credit Card Capital One SavorOne Cash Rewards Credit Card Learn More

Overview

Capital One, founded in 1994, is the second-largest credit card issuer in the US. The Virginia-based company has more than 107 million cardholders. Capital One currently offers a selection of more than 30 credit cards.

The SavorOne card is a cashback rewards card with no annual fee. It offers unlimited 3% cashback on groceries, dining, entertainment, and streaming services, plus unlimited 1% cashback on all other purchases. New cardholders can earn a $200 welcome bonus when you spend $500 in the first three months after account opening.

Suitable For?

The SavorOne card is a versatile cashback card for anyone who spends a lot of money on dining, groceries, streaming services, or entertainment like movies and concerts. It’s not the most generous card available for cashback across these categories, but it carries no annual fee. So, the SavorOne is a great choice if you want to earn cashback but don’t want to worry about whether you’re getting your money’s worth from the card.

The SavorOne also stands out for its intro APR offer. New cardholders pay 0% APR for 15 months on new purchases. You can use this intro offer to take a break from paying interest on existing debt or to finance a big purchase.

The card is only available to individuals with excellent credit. You will need a credit score of 700 or higher to qualify.

Interest Rates and Fees

The Capital One SavorOne card has no annual fee and no foreign transaction fees. Balance transfers during the first 15 months carry a 3% fee. You’ll also have a cash advance fee of 5% of the cash advance amount, but not less than $5.

The card has an interest rate of 19.99%-29.99% (variable) after the 15-month intro APR period. Your rate is based on your creditworthiness and is determined when you’re approved for the card.

Annual fee

Interest rate

Balance transfer fee

Foreign transaction fee

$0

19.99%-29.99% (variable)

3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time

$0

Rewards and Cash Back

The SavorOne card offers unlimited 3% cashback on dining, groceries, entertainment, and streaming service purchases. These categories include all spending at restaurants and grocery stores, plus spending on services like Netflix and Disney+. All other purchases earn unlimited 1% cashback.

For a limited time, the SavorOne card also includes a free Uber One membership and unlimited 10% cashback on Uber purchases.

New cardholders can earn a welcome bonus of $200 when they spend $500 in the first three months after opening an account. You also get 0% intro APR on purchases and balance transfers for 15 months.

You can redeem your cashback through the Capital One Shopping and Capital One Travel portals, through Amazon.com, and through PayPal. Your cashback never expires as long as your account is open.

Other benefits of the card include an extended warranty on items you purchase with your card and travel accident insurance, which covers things like lost baggage on a flight.

The Application Process

You can apply for the SavorOne card on Capital One’s website or in person at a Capital One branch.

You have the option to pre-qualify for the SavorOne card before applying, which can be helpful if your credit score is around 700. You must provide your name, email, address, phone number, employment status, annual income, and social security number. Capital One will run a soft credit check, which won’t impact your credit score.

When you apply for the card, Capital One will automatically fill in your details from the pre-qualification step. If you skipped the pre-qualification step, you’ll need to enter your information. Capital One will conduct a hard credit check to process your application.

Capital One will make an approval decision in seconds in most cases. If you’re approved, you’ll also see the interest rate you qualified for. Capital One will send your card in the mail and you can expect to receive it in 7 to 10 days.

Capital One SavorOne Cash Rewards Credit Card Capital One SavorOne Cash Rewards Credit Card Learn More

Help and Support

Getting help from Capital One is very easy, and you can get in touch 24/7 by phone.

Capital One’s online help center has tons of articles and it’s fully searchable. You can also find help articles by messaging with an AI-powered chatbot. The guides in the help center cover everything from how to activate your card to how to pay your statement to what to do if there’s fraud in your account.

Security

Capital One offers numerous security measures. These include SSL encryption, biometric authentication, and two-factor authentication to ensure you’re the only one who can access your account. You’ll also receive automatic alerts for suspicious transactions and sudden changes to your credit score.

The SavorOne card has an EMV chip to make fraud more difficult. You can also freeze your card at any time using the Capital One mobile app.

If you suspect fraud, Capital One has a dedicated fraud hotline available 24/7. You’re never liable for fraudulent charges.

Capital One is a member of the FDIC, but the company’s credit cards are not FDIC-insured. 

FAQs

How do I redeem cashback I earn with the SavorOne card?

You can redeem cashback earned with the Capital One SavorOne card through the Capital One Shopping portal, the Capital One Travel portal, on Amazon.com, or through PayPal. Cashback you earn never expires as long as your account is open.

Does the SavorOne card offer travel benefits?

The SavorOne card offers unlimited 3% cashback on dining and entertainment, which can be very rewarding when traveling. The card also comes with no foreign transaction fees and includes travel accident insurance for travel purchased with your card.

Conclusion

The Capital One SavorOne card offers unlimited 3% cashback on dining, groceries, streaming services, and entertainment with no annual fee. It also includes a $200 welcome bonus, 0% intro APR for 15 months, and benefits like an extended warranty on items purchased with your card. Overall, this is a great card for anyone who wants cashback on dining and groceries without an annual fee.

Methodology

This review is based on the Capital One website and online application.

Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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