Review: Capital One SavorOne Cash Rewards Credit Card
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The Capital One SavorOne Cash Rewards Credit Card is focused on rewarding you for buying food. You’ll earn 3% at restaurants, entertainment, grocery stores (it’s rare to find both categories on one card), and streaming services. You’ll also get access to a better-than-average benefits package, geared mostly towards travel.
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Our Rating: 4 Out of 5 Stars
We give the Capital One SavorOne Cash Rewards Credit Card card 4 out of 5 Stars because it’s a good choice if you want to earn cash back on the food you buy. The cash back at restaurants and grocery stores is a combination you won’t usually find on reward credit cards, giving it a competitive edge.
Why We Like It
- Offers cash back both at restaurants and on groceries
- Easily obtainable welcome bonus
- Long 0% introductory period for new purchases and balance transfers
- Monitor your VantageScore 3.0 credit score, based on your TransUnion credit report
- A better-than-average benefits package
- No annual fee or foreign transaction fee
Why It Could Be Better
- Entertainment category may not be too useful
The Capital One SavorOne card gives you a way to earn rewards on all the food you buy, including both restaurants and grocery stores.
That makes this card stand out, because most reward credit cards will only offer cash back in one of those categories, not both. The SavorOne card could be your automatic go-to option for any food expenses, and few cards can say that.
There are now two cards in the Savor lineup:
- Capital One SavorOne Cash Rewards Card (this post): No annual fee; 3% cash back for dining, entertainment, grocery stores, and streaming services; $200 cash bonus for spending $500 in the first 3 months
- Capital One Savor Cash Rewards Credit Card (Review): annual fee of $95; 4% cash back for dining, entertainment, and streaming services; 3% back at grocery stores; $300 cash bonus for spending $3,000 in the first 3 months
Both of these cards feature contactless technology, allowing for quick tap-and-go payments.
Is the SavorOne card right to help you earn cash back whenever you go out to eat or grocery shopping? Read our comprehensive review to find out!
Insider Advice: Getting the Most Out of Your Card
- Use it for everything food: Want one credit card to use for all of your food expenses? The SavorOne card is a good option because it has cash back categories for both grocery stores and restaurants.
- Qualify for the intro bonus: Be sure to get the welcome bonus by spending enough in the first few months.
- Utilize the intro APR period: Use the 0% intro APR to pay off large purchases at no interest for 15 months. Just be sure to pay them off before the period ends, and to always make your minimum payments. After the 0% introductory period the regular 14.99% - 24.99% Variable APR will apply.
- Pay off some high-interest debt: If you’re struggling to pay down debt on other credit cards, consider transferring it over to the SavorOne. You’ll get a long period to pay it down at no interest; just be sure to take the transfer fee into account.
- Use the benefits: Take advantage of the card benefits when traveling. They include car rental coverage, dining reservation perks, and a personal concierge who can help with booking.
- Redeem for statement credits: The easiest way to redeem your cash back will be through statement credits, which directly reduce the balance of your account.
- Set up your automatic redemption preferences: You can have your cash back automatically redeemed as a statement credit whenever it reaches a certain amount, or at certain times throughout the year.
- Use it abroad: There are no foreign transaction fees on this card, so you can use it outside the country at no extra cost.
The Capital One SavorOne Cash Rewards has the fairly unique feature of rewarding you for a nice variety of food-related expenses. Whereas most cards make you choose between dining and grocery stores, the SavorOne provides solid rates for both.
You’ll be buying food anyway, so why not earn a little cash back? It also has an easy welcome bonus to sweeten the pot.
Your rewards don’t expire, and there is no limit to the cash back you can earn.
This card is designed to give you cash back rewards for food expenses of almost every kind, covering dining at restaurants and shopping at grocery stores. The SavorOne card is actually pretty unique in that respect. Most reward credit cards only have a category for either restaurants or grocery stores, but not both. There aren’t many cards that offer the equivalent of 3% on entertainment, either.
The 3% back at grocery stores isn’t very much, however. That’s especially true because many people are likely to spend more at grocery stores than at restaurants. The Blue Cash Preferred® Card from American Express (Review) is a great option if you want to earn more rewards for U.S. supermarket purchases, offering 6% cash back on the first $6,000 spent per year, then 1%.
The SavorOne’s welcome bonus is fairly good among reward cards, as well.
You can redeem your cash back in a few different ways:
- As statement credits to reduce your account balance
- For physical checks
- For gift cards
We recommend that you always redeem your cash back as a statement credit because this is the easiest and most direct method. Physical checks will take several weeks to arrive.
Gift card redemption rates will vary, and you won’t always get the full value of your cash back so we recommend that you avoid this method.
You can set up automatic redemption preferences to make the process easier. You can either set it for certain dates throughout the year or when your cash back hits a specific threshold.
This card comes with Mastercard benefits, along with other perks from Capital One. That includes a variety of services that can make your trips more affordable and comfortable.
- Premium Access with OpenTable: Get exclusive OpenTable reservations to certain hot restaurants, in a limited selection of cities.
- Mastercard Concierge (Mastercard World Elite only): Call any time to talk to a personal assistant, who can help you in all sorts of non-emergency tasks.
- Capital One CreditWise: Provides free access to your VantageScore 3.0 from your TransUnion credit report. You’ll also get access to some information from your actual TransUnion report, which most cards don’t offer. Although this isn’t the more common FICO Credit Score, it can still be a useful way to monitor your credit.
- Cell Phone Protection: Pay your monthly phone bill with the card to get coverage against damage and theft.
- Price Protection: If you find an eligible purchase being advertised for less, you can be reimbursed for the price difference.
- Extended Warranty: Register to double an eligible manufacturer’s warranty protection up to one additional year, for warranties of three years or less.
- MasterRental Coverage: Provides coverage for collision damage and theft of eligible rented vehicles, when you decline the rental company’s own insurance
- Master RoadAssist Service: 24-hour toll-free dispatch for help with services like towing, battery recharge, fuel delivery, and more. Third-party fees apply.
- Security and account alerts: Get notified about changes to your account or unauthorized activity.
- Capital One Second Look fraud coverage: Automatically monitors your account 24/7 for fraudulent activity
The Terms & Fees
|Purchase APR||Balance Transfer APR||Cash Advance APR|
|0% for 15 months then 14.99% - 24.99% Variable||0% for 15 months, then 14.99% - 24.99% Variable||24.99% Variable|
|Annual Fee||Foreign Transaction Fee|
|Balance Transfer Fee||Cash Advance Fee|
|3%||3% of the amount of the cash advance, but not less than $10|
|Penalty APR||Late Fee||Returned Payment Fee|
|None||Up to $40||None|
The Bottom Line
The Capital One SavorOne Cash Rewards Credit Card is designed for spending on food, particularly at restaurants and grocery stores. If you need a card for that purpose, this one is a strong competitor.
The cash back rates you’ll get — 3% at restaurants, grocery stores, streaming services, and on entertainment — are pretty good compared to most cards, and the welcome bonus is not bad either. Most reward cards only have a cash back category for either restaurants or grocery stores, so it’s nice to see a card that covers both.
The extra perks are fairly good for a no annual fee card, with Mastercard benefits that can be useful when traveling.
Overall, the SavorOne card is a good option to earn a decent amount of cash back on food expenses at no annual fee, so your rewards can potentially be all profit. If you’re looking for rewards for food but want to see some other options, check out the alternatives below. They offer ways to earn more at either restaurants or grocery stores, along with other valuable reward categories.
How Do I Apply for the Capital One SavorOne Cash Rewards Credit Card?
To apply now for the Capital One SavorOne securely on the Capital One website, follow the link below. The credit card issuer will check your credit reports from Equifax, Experian, TransUnion, and Innovis.
What Credit Scores Do You Need for the Capital One SavorOne Cash Rewards Credit Card?
You’ll want a credit rating of at least good, which would put you in the 670–739 range. That would give you the best shot of being approved for this card.
Capital One will also look at things like income and how much outstanding debt you have to see if you’re a good fit. At the end of the day it’s at Capital One’s discretion to determine your creditworthiness. So even if you don’t fall within that range you could still qualify.
Frequently Asked Questions
What kind of card is the Capital One SavorOne Cash Rewards?
It’s a Mastercard, which means you can only use it where Mastercard credit cards are accepted. So you won’t be able to use this card when it comes time to pay at Costco, for example, which only accepts Visa credit cards.
If you’re looking for more information about the differences between Visa and Mastercard, check out our page.
What are the benefits of the Capital One SavorOne Cash Rewards?
You’ll get a collection of perks and discounts at participating rental car providers, help making dining reservations, and a nice collection of shopping and travel protections. These protections include car rental insurance and extended warranty, to name a few.
If you’re interested in the complete list of benefits, feel free to take a look.
Does the Capital One SavorOne Cash Rewards card have an annual fee?
No, there’s no annual fee attached to the card, but there is a $0 balance transfer fee when you transfer with the promotional rates. Otherwise, there won’t be a fee. You can see all of the terms and fees right here.
The other Savor card Capital One offers, the Capital One Savor Cash Rewards Credit Card (Review), has an annual fee but features slightly improved rewards and benefits. It doesn’t, however, offer a 0% introductory APR period like the SavorOne.
Alternatives to the Capital One SavorOne Cash Rewards
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If you use the Capital One SavorOne Cash Rewards Credit Card, how do you like it? Leave your own review in the comments below, we’d love to hear from you!Check out some of the most rewarding credit cards on the market. Highest Cash Back Credit Cards
For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.
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