Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The Capital One SavorOne Cash Rewards Credit Card serves as a great introduction into the world of rewards credit card. For starters, there’s no annual fee, so you’ll rest easy knowing that you’re at an automatic net positive by opening this card. From there, earn 3% on four popular everyday spending categories, redeeming for valuable cash-back rewards back in your pocket. If you travel internationally from time to time, you can even bring this card with you, as there are no foreign transaction fees.
Earning 3% back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores, like Walmart and Target) is a great return for a no-annual-fee credit card.
This card is better for beginners since it’s easier to be approved for than the Capital One Savor Cash Rewards Credit Card.
The intro APR offer that comes with this card makes it a solid choice for those looking to finance a large purchase. You’ll get 0% intro APR on purchases for the first 15 months (17.99% - 27.99% variable APR after, there's a 3% balance transfer fee).
If you spend a lot on dining and entertainment each year, the Savor is the better value since it earns higher rewards.
The sign-up bonus isn’t anything to write home about (though it is easy to earn).
Who is this card good for?
There are two types of customers that would benefit from the Capital One SavorOne. First, the budget conscious consumer who doesn’t want to pay an annual fee on a credit card but spends frequently on nights out, whether it be at restaurants with friends or at the movies or on concerts, can earn a sizeable 3% return on these purchases. Another subset of consumers would be Capital One Venture Rewards cardholders who want to earn Capital One miles even faster. That’s because you can transfer all the rewards earned on the Capital One SavorOne over to your Capital One Venture card at a 1:1 rate, letting you access Capital One’s 15+ airline and hotel transfer partners.
You’ll earn unlimited 3% cash-back rewards on four categories, including dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases. Once you’ve reached a $25 threshold, you can redeem your cash-back rewards for a statement credit, check, gift card or shop on Amazon.com.
Frequently asked questions
How do I redeem rewards with the Capital One SavorOne?
You can monitor the cash-back earning through your Capital One account or app. Note that you will need to accrue $25 in rewards to select any redemption options, but from there you can select a statement credit, check, gift card, shop on Amazon.com or even transfer your rewards to Capital One miles with an eligible card like the Capital One Venture Rewards Credit Card or the Capital One VentureOne Rewards Credit Card.
How long does it take to get the Capital One SavorOne?
Upon approval, you’ll receive your new Capital One SavorOne card in the mail within 7 to 10 business days.
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Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.