Editor’s note: This post has been updated with the latest credit card information and offers.
Capital One SavorOne Cash Rewards Credit Card overview
The Capital One SavorOne Cash Rewards Credit Card (see rates and fees) is a solid card with no annual fee that is great for those who regularly spend on dining and entertainment. It offers unlimited 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases. While the sign-up bonus won’t turn any heads, and it isn’t ideal for spending beyond its bonus categories, the SavorOne is a good starter product for foodies and regular concertgoers. Card Rating*: ⭐⭐⭐½
*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 is the no-annual-fee version of the higher-end Capital One Savor Cash Rewards Credit Card.
The latter charges a $95 annual fee and earns 4% cash back on dining, entertainment, and select streaming services, 3% back at grocery stores, and 1% everywhere else. That’s a small 1% improvement over the Capital One SavorOne in select categories. So if you don’t want to pay an annual fee but still enjoy a solid cash-back return on meals, groceries and entertainment, the SavorOne is a great choice.
Now, let’s dig in and see if this is the card for you.
The information for the Capital One Savor card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Capital One SavorOne welcome offer
Capital One is currently offering a sign-up bonus of $200 cash back on the SavorOne after you spend $1,000 on purchases within the first three months of account opening, which is typical for no-annual-fee cash-back cards.
While not mind-blowing, it does represent a 40% return on your initial layout, and the low minimum spending threshold should be achievable for most people.
Related: The 9 best elevated credit card offers to sign up for
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Earning cash back on the Capital One SavorOne
The Capital One SavorOne offers generous bonus categories when compared to other no-annual-fee cash-back cards and even some cards that do have annual fees. The real highlight is the higher cash back in the dining and entertainment categories, though you can also get some value with extra cash back at grocery stores.
Although the definition of dining and entertainment is broad, as previously noted, don’t forget to read the card’s fine print. The SavorOne excludes Target® and Walmart® purchases, even if you’re just buying groceries from these stores. Likewise, certain streaming services are excluded.
Related: How credit card issuers classify travel and dining purchases
Redeeming cash back on the Capital One SavorOne
It’s simple to redeem cash back with this card by requesting a statement credit, check or gift card as long as you’ve reached a $25 threshold. All you have to do is initiate the redemption through the Capital One app or your online account. You can also redeem your cash back at Amazon.com.
Furthermore, if you have a Venture Miles-earning credit card such as the Capital One Venture X Rewards Credit Card (see rates and fees), you also have the option to convert the cash back you earn at a 1:1 rate (one cash-back point to one mile) into Capital One Venture Miles and transfer them to the program’s various airline and hotel partners from there. That represents a huge potential value if travel’s the reward you’re after.
Those partners include (transfer ratio 1:1 unless otherwise stated):
Airline partners
- Aeromexico Club Premier
- Air Canada Aeroplan
- Air France-KLM Flying Blue
- Avianca Lifemiles
- British Airways Executive Club
- Cathay Pacific Asia Miles
- Emirates Skywards
- Etihad Guest
- EVA Air Infinity MileageLands (2:1.5)
- Finnair Plus
- Qantas Frequent Flyer
- Singapore Airlines KrisFlyer
- TAP Air Portugal Miles&Go
- Turkish Airlines Miles&Smiles
- Virgin Red
Hotel partners
- ALL Accor Live Limitless (2:1)
- Choice Hotels
- Wyndham Rewards
Given the SavorOne’s bonus earning rates, this can be a good rewards route to take, especially if you can leverage any of Capital One’s transfer sweet spots.
Capital One SavorOne benefits
For a card with no annual fee, the SavorOne comes with some nice perks. For starters, this is a card you can bring abroad, as there are no foreign transaction fees. Essentially, this means that you should continue to earn 3% cash back on international dining, so long as the merchant codes as dining. There’s also travel accident insurance, roadside assistance, secondary car rental insurance and extended warranty protection.
If you need help making a restaurant reservation, buying concert tickets or planning travel, you can call the card’s concierge service 24 hours a day, 365 days a year. It’s certainly not the norm for a no-annual-fee card to have a concierge service, so this is a nice little perk if you can take advantage of it.
Related: The best cards for entertainment
The SavorOne also features some useful security features, including virtual card numbers, which allows you to generate one-time-use card numbers for online purchases, so you don’t need to provide your actual card number. It also allows you to lock your card in the Capital One mobile app rather than canceling it immediately if it’s temporarily misplaced or lost.
Which cards compete with the Capital One SavorOne?
When it comes to welcome offers, several cards are provide similar bonuses and might be a better fit for your wallet overall:
For additional options, check out our full list of the best cash-back credit cards.
Read more: Why I switched from the Chase Freedom to the all-new Chase Freedom Flex
Is the Capital One SavorOne worth it?
This is a great card to have if dining and entertainment are major spending categories for you. Rewards can be maximized if you have a Venture Miles-earning credit card. However, if you’d rather have a flat earning rate on all spending without having to keep track of bonus opportunities, then other cash-back cards might be better suited for you.
Bottom line
The Capital One SavorOne Cash Rewards Credit Card is definitely a card to consider if you spend a lot on dining, groceries and entertainment. If you’re looking to rack up cash back in these categories, then it’s a great choice. If travel redemptions are what you are after, you’ll want to pair it with a Venture Miles-earning credit card or choose a travel rewards credit card from another issuer.
Official application link: Capital One SavorOne with a $200 cash bonus after spending $1,000 in three months of account opening.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Additional reporting by Ryan Wilcox, Stella Shon and Eric Rosen.
