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Capital One Savor One Review: Maximize Your Dining & Entertainment Rewards with No Annual Fee

Imagine a world where every dollar you spend on dining, entertainment, and groceries earns you cash back. That world is a reality with the Capital One SavorOne Cash Rewards Credit Card. In this Capital One SavorOne review, we’ll show you that with no annual fee, this card is designed to reward you for your lifestyle, putting hard-earned money back in your pocket. In addition, we present our “Capital One Savor One review” to give you a comprehensive understanding of its benefits and features.

Key Takeaways

  • The Capital One SavorOne card offers unlimited 3% cash back on dining, entertainment, streaming services, and grocery stores, along with a $200 welcome bonus after spending $500 within the first three months.
  • Cardholders enjoy benefits such as a 0% introductory APR for the first 15 months, no annual or foreign transaction fees, virtual card numbers for online security, and exclusive event access.
  • When compared to competitors, the SavorOne card provides higher rewards rates in specific categories, added travel and security benefits, and cost savings with no annual fee, making it a strong choice for those who spend frequently on dining and entertainment.

Capital One SavorOne

  • 3% cash back on dining.
  • 3% cash back on entertainment.
  • 3% cash back on grocery stores.
  • 3% cash back on streaming services.
  • 5% cash back on hotels and rental cars.
    (Booked via Capital One Travel)
  • 8% cash back on Capital One Entertainment purchase.
  • 10% cash back on Uber rides and Uber Eats.
    (until November 14th 2024)
  • $200 Welcome Bonus (Spend $500 on purchases within the first 3 months from account opening.)
  • 0% intro APR (for 15 months)
  • NO ANNUAL FEE.
  • NO FOREIGN TRANSACTION FEE
  • Cash back card.
  • Unlimited Cash Back.
  • Good for Food and Entertainment.
  • a complimentary Uber One membership (until November 14th 2024)
  • Unable to transfer partners without up-scale card, like a Venture X card
  • Requires Good/ Excellent score

Capital One SavorOne Rewards Overview

Capital One SavorOne Rewards Overview with cash back rewards and welcome bonus

At first glance, the Capital One SavorOne card might seem like any other cash-back credit card. However, a closer look reveals a card designed to reward you for having fun. For the foodies and entertainment enthusiasts, this card is a game-changer, thanks to its generous rewards rates. The Capital One SavorOne Cash offers unlimited 3% cash back on dining, entertainment, and even grocery stores, making it a great option for those who love to eat out or host dinner parties. Additionally, with the SavorOne Cash Rewards Credit, it offers 1% cash back on all other purchases, ensuring that every dollar you spend earns you rewards.

Yet, the rewards extend beyond just that. The Capital One SavorOne card also offers a lucrative welcome bonus:

If you spend $500 on purchases within three months of opening your account, you will receive a $200 cash bonus.

This offer is subject to terms and conditions. This bonus, coupled with the card’s impressive cash back rates, makes it one of the best cash rewards credit cards in the market, especially for those seeking a cash rewards credit card with a generous welcome offer.

Moreover, these benefits come with no annual fee attached. The Capital One SavorOne card has no annual fee, making it a cost-effective choice for those looking to maximize rewards without incurring additional costs.

Earning Cash Back with SavorOne

Earning Cash Back with SavorOne card on dining, entertainment, and grocery stores

Exploring further how the Capital One SavorOne card allows you to earn cash back reveals:

  • The card provides unlimited 3% cash back on dining, entertainment, grocery stores, and streaming services, as previously stated.
  • This makes it a valuable option for various spending categories.
  • This means that whether you’re dining out at a restaurant, ordering in from your favorite eatery, watching a movie at the cinema, or purchasing groceries, you’re earning cash back.
  • You can also earn 5% cash back on hotels and rental cars booked through Capital One Travel with the SavorOne card.

5% cash back on hotels and rental cars can provide additional savings on your travel expenses. This makes it an excellent card for those who love to travel, as you can earn rewards on your accommodation and transportation.

You earn 1% cash back on all other purchases falling outside these categories. This means that no matter what you’re spending on, you’re earning rewards. The cash back rewards start accumulating from the moment you open your account, and they do not expire for the life of the account.

Redeeming Your SavorOne Rewards

Redeeming SavorOne Rewards for cash, statement credits, and gift cards

Having accumulated these substantial cash back rewards, how should you go about redeeming them? The Capital One SavorOne card offers flexible redemption options. You can redeem your rewards for cash in the form of a check or account credit, or you can use them for gift cards or merchandise from select retailers.

Additionally, you have the option to:

  • Set up automatic redemptions, so you never have to worry about forgetting to redeem your rewards
  • Transfer your rewards to other Capital One cards
  • Use them for travel statement credits or membership statement credits.

Perhaps the best thing about the SavorOne card’s rewards redemption is that there are no minimums for most redemption options. This means you can redeem your rewards whenever and however you want, providing you with complete control over how you use your rewards.

Benefits and Perks of the Capital One SavorOne Card

Benefits and Perks of the Capital One SavorOne Card including travel benefits and security features

Earning cash back isn’t the only advantage of the Capital One SavorOne card. It also offers a range of benefits and perks that make it a worthwhile addition to your wallet.

Let’s start with the travel benefits. The card offers 24-hour travel assistance services, which include emergency card replacement and cash advances. This can be a lifesaver when you’re traveling and run into issues with your card or need cash in a hurry.

Additionally, the SavorOne card also provides security features to protect your account. These include $0 fraud liability for unauthorized charges, which means you won’t be held responsible for fraudulent charges if your card is lost or stolen.

Travel Benefits

The travel benefits of the Capital One SavorOne card are quite impressive. As a cardholder, you’ll receive a complimentary Uber One membership and earn 10% cash back on Uber rides and Uber Eats purchases until November 14th 2024, making your travel and dining experiences even more rewarding.

The card also offers travel accident insurance. This means you’ll have automatic coverage for a covered loss when you use your card to purchase your fare. This can provide peace of mind and financial protection when you travel.

Finally, the round-the-clock travel assistance service provides support whenever required. If you have lost your card and need an emergency replacement, or require a cash advance, the assistance service is available to provide support in these situations.

Security Features

The Capital One SavorOne card places a high priority on security, a major concern for all credit card users. One of the most significant security features the card offers is virtual card numbers. These are temporary credit card numbers that you can use for online transactions, providing an additional layer of security and reducing the risk of fraud.

You’re also protected from unauthorized charges with the $0 fraud liability. If your card is lost or stolen, and fraudulent charges are made, you won’t be held responsible. This is a crucial feature that can protect you from financial loss.

In addition to these features, you also get credit report alerts. These alerts help you monitor your credit and detect potential fraud, providing another layer of protection for your account.

Exclusive Event Access

In addition to cash back and travel benefits, Capital One SavorOne cardholders have exclusive access to special events. This means you can attend exclusive events and enjoy premium experiences like the iHeartCountry Festival presented by Capital One and the Capital One JamFest® featuring Taylor Swift.

Through the Capital One Entertainment ticketing platform, you can also access VIP packages and perks for a range of music, sports, and dining events. This could include getting early access to tickets, enjoying VIP seating, or getting a backstage pass to meet your favorite artist.

And the best part? You’ll earn 8% cash back on Capital One Entertainment purchases. So not only do you get to enjoy exclusive events, but you also get rewarded for it.

Understanding SavorOne Fees and Rates

Understanding SavorOne Fees and Rates with no annual or foreign transaction fees

No Annual or Foreign Transaction Fees

Understanding the fees and rates associated with the Capital One SavorOne card, like with any credit card, is crucial. The good news is that the SavorOne card has no annual or foreign transaction fees. This makes it a cost-effective option, especially for those who travel frequently.

Introductory APR Offer

The SavorOne card offers a significant feature, with a 0% intro APR for 15 months on both purchases and balance transfers. This can provide a great opportunity for saving on interest costs. This can be particularly beneficial if you’re planning to make a large purchase or transfer a balance from another card. After the introductory period, the APR ranges from 19.99% to 29.99%.

Detailed Comparison: SavorOne vs. Amex Gold

When comparing the Capital One SavorOne card with the American Express Gold Card, Both cards has good benefits for foody and grocery shopping. it’s crucial to consider the advantages and drawbacks of each card to determine which is the better fit for your lifestyle and spending habits.

Rewards

Both cards offer high rewards rates on dining and groceries.

  • The SavorOne card provides a flat 3% cash back on dining and groceries, making it a straightforward and predictable rewards card.
  • The Amex Gold, on the other hand, offers 4X points on dining and groceries, which can translate to higher rewards depending on how you redeem your points.

However, the rewards structure of the Amex Gold is more complex and may require more planning to maximize.

SavorOne Pros: Simple, flat-rate rewards. SavorOne Cons: Lower potential rewards compared to Amex Gold.

Amex Gold Pros: Higher potential rewards. Amex Gold Cons: More complex rewards structure.

Fees

  • The SavorOne card shines with its no annual fee, making it a cost-effective choice for those looking to maximize rewards without incurring additional costs.
  • The Amex Gold, however, has a hefty annual fee of $250. While it does offer additional benefits to offset this cost, it’s something to consider if you’re budget-conscious.

SavorOne Pros: No annual fee. SavorOne Cons: Fewer additional benefits compared to Amex Gold.

Amex Gold Pros: Additional benefits that can offset the annual fee. Amex Gold Cons: High annual fee, $250.

Additional Benefits

The Amex Gold offers up to $120 in dining credits, $120 Uber cash, and a $100 hotel credit, among other benefits. These perks can be valuable, but they also come with a higher annual fee and require specific spending to activate.

The SavorOne card, while offering fewer benefits, has no such spending requirements.

SavorOne Pros: No spending requirements for benefits. SavorOne Cons: Fewer additional benefits compared to Amex Gold.

Amex Gold Pros: High-value additional benefits. Amex Gold Cons: Spending requirements to activate benefits.

In conclusion, if you’re looking for a card with high rewards rates, no annual fee, and straightforward benefits, the SavorOne card may be a better fit for you. However, if you’re willing to navigate a more complex rewards structure and pay an annual fee for high-value benefits, the Amex Gold could be the better choice.

Check this article: Unveiling The Ultimate American Express Gold Card Benefits For 2024

SavorOne vs. Chase Freedom Unlimited

When comparing the SavorOne card with Chase Freedom Unlimited, there are several key differences to note.

Rewards Rate

Both cards offer cash back on purchases, but they differ in their reward structures.

The SavorOne card offers 3% cash back on dining, entertainment, and groceries, and 5% cash back on hotels and rental cars booked through Capital One Travel.

On the other hand, Chase Freedom Unlimited offers 1.5% cash back on all purchases, 5% cash back on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, and 3% at drugstores.

So, if you spend more on dining, entertainment, and groceries, SavorOne might be a better choice, but if your spending is more diversified, Chase Freedom Unlimited could offer more value.

Welcome Bonus

Both cards offer a welcome bonus.

SavorOne provides a $200 cash bonus if you spend $500 on purchases within three months of opening your account.

Chase Freedom Unlimited offers a $200 bonus after spending $500 within the first three months from account opening and 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year. But this might be limited time offer. Check what intro offer comes with welcome bonus.

Additional Benefits

Both cards offer additional benefits. SavorOne offers exclusive event access and a range of security features, including virtual card numbers and $0 fraud liability for unauthorized charges. Chase Freedom Unlimited provides purchase protection, extended warranty protection, and a complimentary three months subscription to DashPass, DoorDash’s subscription service that provides $0 delivery fees and reduced service fees on orders over $12.

Fees

Both cards do not have an annual fee, making them cost-effective options. However, while the SavorOne card does not have foreign transaction fees, Chase Freedom Unlimited does charge a 3% fee for transactions made outside the U.S. If you frequently travel or make international purchases, SavorOne would be a more cost-effective option.

In conclusion, your choice between SavorOne and Chase Freedom Unlimited would depend on your spending habits, preference for cash back categories, and need for additional benefits.

SavorOne vs. American Express Blue Business Cash

When comparing the SavorOne card with American Express Blue Business Cash, there are several key differences to note.

Rewards Rate

The SavorOne card offers 3% cash back on dining, entertainment, and grocery stores, and 5% cash back on hotels and rental cars booked through Capital One Travel.

On the other hand, American Express Blue Business Cash offers 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%.

So, if your spending is more focused on dining, entertainment, and groceries, SavorOne might be a better choice, but if your spending is more diversified, American Express Blue Business Cash could offer more value.

Welcome Bonus

The SavorOne card provides a $200 cash bonus if you spend $500 on purchases within three months of opening your account.

On the other hand, American Express Blue Business Cash offer Earn a $250 Statement Credit (After spend $5,000 in qualifying purchases on your Card within the first 6 months).

Additional Benefits

The SavorOne card offers exclusive event access and a range of security features, including virtual card numbers and $0 fraud liability for unauthorized charges.

American Express Blue Business Cash provides expense management tools and added protection with features like Purchase Protection and Extended Warranty.

Fees

Both cards do not have an annual fee, making them cost-effective options. However, while the SavorOne card does not have foreign transaction fees, American Express Blue Business Cash does charge a 2.7% fee for transactions made outside the U.S. If you frequently travel or make international purchases, SavorOne would be a more cost-effective option.

In conclusion, your choice between SavorOne and American Express Blue Business Cash would depend on your spending habits, preference for cash back categories, and need for additional benefits.

Who Should Consider the Capital One SavorOne Card?

The ideal candidate for the Capital One SavorOne Card is someone who:

  • Frequently spends on dining, entertainment, and groceries
  • Wants to maximize cash back rewards without paying an annual fee
  • Values additional benefits such as travel insurance and unique event access

With its high rewards rates, no annual fee, and additional benefits, the SavorOne card offers substantial value to consumers.

Summary

In conclusion, the Capital One SavorOne card is a highly rewarding cash-back credit card that offers substantial value for those who frequently spend on dining, entertainment, and groceries. With no annual fee, high cash back rates on popular spending categories, and a host of additional benefits, it stands out among other cash-back cards in the market. Whether you’re looking to earn rewards on your everyday spending, save on travel, or enjoy exclusive event access, the SavorOne card is a compelling choice.

Frequently Asked Question

Capital One Savor One Review

The credit limit for the Capital One SavorOne card starts at $1,000, with the exact amount determined based on the review of your application and creditworthiness. It typically requires a good credit score (700+) for high odds of approval.

The SavorOne card offers higher cash back rewards on specific categories like groceries, dining, and entertainment compared to the Quicksilver card, which offers a standard 1.5% cash back on all purchases. Therefore, the SavorOne card may be better for individuals who spend more in those particular categories.

The Chase Sapphire Preferred Card offers a better suite of benefits and earns more valuable rewards compared to the Capital One Savor Card. Therefore, for many users, the Chase Sapphire Preferred might be a better option.

The SavorOne card is best for frequent spenders on dining, entertainment, and groceries who want to earn high cash back rewards without an annual fee. It’s a great choice for those looking to maximize their rewards.

The cash back rewards rates for the SavorOne card are 3% on dining, entertainment, and grocery stores, 5% on hotels and rental cars booked through Capital One Travel, and 1% on all other purchases.

Check this article in Japanese: https://credit.meoto-ny.com/capital-one-savorone/

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