Credit Cards » Credit Card Reviews » Capital One SavorOne Rewards Card: 2022 Review
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Capital One SavorOne Rewards Card: 2022 Review

If you enjoy the nightlife and getting out to have some fun, then the SavorOne Rewards could be a great credit card option for you.
Author: Jack Wickens
Jack Wickens

Writer, Contributor

Experience

Jack is a personal finance writer who has been writing for more than a decade. His passion for educating consumers and helping everyday families earn more and live better. He is most knowledgeable with years of experience covering topics such as savings, budgeting, and responsible credit use and always happy to share his expertise with readers.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.
Author: Jack Wickens
Jack Wickens

Writer, Contributor

Experience

Jack is a personal finance writer who has been writing for more than a decade. His passion for educating consumers and helping everyday families earn more and live better. He is most knowledgeable with years of experience covering topics such as savings, budgeting, and responsible credit use and always happy to share his expertise with readers.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

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In This Review..

The Capital One SavorOne Cash Rewards Credit Card is a no annual fee card and will help you earn cash back rewards on everyday activities. You can earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases..

Also, you are eligible for 15 months on purchases and balance transfers to help you pay down an existing balance you may have or pay off new purchases slowly (16.49% – 26.49% variable after that), as well as a $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening.

On the negative side, this card requires excellent credit score and lacks any kind of travel rewards. 

Capital One SavorOne Cash Rewards Credit Card

Capital-One-Savor-One

On Capital One’s Secure Website

Rewards Plan

Unlimited 1-3% earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases.

Sign up Bonus

$300 $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening

0% Intro

15 months on purchases and balance transfers

PROS

CONS

APR

16.49% - 26.49% variable

Annual Fee

$0

Balance Transfer Fee

3%

Credit Requirements

Good – Excellent

Card & Issuer Reputation

  • 4.7/5 on Official Card Website customers reviews ( +1,500 reviews): Customers can express their opinion on the official card website. It reflects the overall measurement of reviewer satisfaction, represented numerically from 1 to 5.
  • 4.8/5 on Experian  customers reviews ( +200 reviews): Customers can express their opinion on the official card website. It reflects the overall measurement of reviewer satisfaction, represented numerically from 1 to 5.
  • 808/1000 on J.D Power: Capital One got 808 out of 1000 available points on 2020 J.D. Power credit card satisfaction survey, a bit lower than the industry average. J.D Power offers the most comprehensive and independent study of customer satisfaction of card issuers . The study aims to help consumers and issuers to understand user opinions and ratings of the largest bands. It covers terms, benefits, services, communication, rewards and more.

J.D. Power U.S. Credit Card Satisfaction Study 2020

Benefits

Receive a $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening. This bonus can be redeemed as cash back, statement credit, gift cards, and other reward options Capital One offers.

If you are looking to save money on interest, the Capital One SavorOne Card offers a 0% introductory rate for 15 months on balance transfers.  After that the APR will be 16.49% – 26.49% variable.

There are cards that offer longer time frames, but Capital One SavorOne Card is one of the longer introductory rates in the market.

The main perk of this cash back credit card is the ability to earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases..

This is a great option for those who like to spend money out frequently or travelers who spend money on entertainment activities and restaurants while on vacation.  One feature you’ll enjoy about the Capital One SavorOne card is there are no rotating rewards categories.

If you want to use the Capital One SavorOne card only for dining and entertainment, and use another credit card for another spending, you can. 

There is no annual fee so don’t stress about times you’re not using the credit card.

Top Offers From Our Partners
capital-one-venture
Rewards Plan:
Unlimited 2X miles 2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
Welcome Bonus: 75,000 miles 75,000 miles once they spend $4,000 on purchases within 3 months from account opening
Rewards Plan:
Unlimited 1-4% unlimited 4% cash back on dining, entertainment, and popular streaming services, 3% at grocery stores and 1% on all other purchases.
Welcome Bonus: $300 $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening
Rewards Plan:
Unlimited 1.5% 1.5% cash back on all purchases
Welcome Bonus: $250 $200 cash bonus once you spend $500 on purchases within 3 months from account opening

Advertiser Disclosure

The product offers that appear on this site are from companies from which this website receives compensation. 

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Drawbacks

Now, let’s review the things you should be aware of when choosing Capital One Savor Reward Card

If you already have Capital One credit cards or you plan on getting multiple different cards from them then this drawback applies to you. You’re only allowed two credit cards at a time from Capital One so getting approved for a third could be challenging. 

They also like to see at least 6 months between opening a new Capital One card from the previous so keep this in mind if you’re trying to open multiple Capital One cards within a short time frame.

Cash back rewards aren’t redeemable for merchandise or airline travel. 

While you do get a generous introductory rate on balance transfers, it comes at a cost of a 3% transfer fee. This can add up if you have a large balance you are transferring over. 

With the Capital One SavorOne card, expect to pay a higher than average APR even with good credit. The advertised range is 16.49% – 26.49% variable so depending on your credit you may fall higher or lower on the rate range. 

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AMERICAN EXPRESS gold card

Rewards Plan:
1x – 4x Points 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus: 60,000 points 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership

citi_premier_card

Rewards Plan:
Up to 3X points 3X points per dollar on restaurant, supermarket, gas station, hotel and air travel purchases, and 1X points per dollar on all other purchases
Welcome Bonus: 80,000 points 80,000 points after you spend $4,000 in the first 3 months of account opening
Rewards Plan:
Unlimited 1-4% unlimited 4% cash back on dining, entertainment, and popular streaming services, 3% at grocery stores and 1% on all other purchases.
Welcome Bonus: $300 $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening

Advertiser Disclosure

The product offers that appear on this site are from companies from which this website receives compensation. 

Rewards Simulation: How Much You Can Earn?

The best way to see if the SavorOne Card is the right choice for your needs, is to calculate the amount of rewards and benefits you suppose to earn. 

Keep in mind that this is a general breakdown of expenses, so make sure to adjust it to your own consumer preferences and spending habits.

Capital-One-Savor-One

Spend Per Category
Capital One SavorOne
$15,000 – U.S Supermarkets
$450
$5,000 – Restaurants
$150
$4,000 – Hotels
$40
$3,000 – Airline
$30
$4,000 – Gas
$40
Estimated Annual Value
$710

How to Redeem Your Rewards?

The SavorOne card offers earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases..

If you would like to redeem your rewards, Capital One offers various ways to redeem your card rewards. These include:

  • Cash: You can request a check or apply your rewards as statement credit for the highest cash back redemption.
  • Coverage for recent purchases. You can apply your rewards to directly cover one of your recent purchases.
  • Gift cards: Like Discover, Capital One also has a selection of gift card options that you can use at popular retailers.
  • Amazon and PayPal purchases: You can use your rewards for purchases at Amazon.com or link your card to your PayPal account to pay for purchases.
Top Offers From Our Partners

AMERICAN EXPRESS gold card

Rewards Plan:
1x – 4x Points 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus: 60,000 points 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership
Upgrade Visa® Card with Cash Rewards
Rewards Plan:
1.5% cash back 1.5% cash back on payments
Welcome Bonus: $200
chase_sapphire_preffered
Rewards Plan:
2x-5x points 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
Welcome Bonus: 60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

Advertiser Disclosure

The product offers that appear on this site are from companies from which this website receives compensation. 

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Make The Most of Your Card

 Capital one Savor card is a decent option if you have good credit. Consider the following when it comes to maximizing your- :

  • Use the Signup Bonus: You can earn $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening.

  • Leverage 0% Intro APR: not every card offers a generous 0% intro as the SavorOne does. Use it smartly – whether paying off your debt or any large purchase you planned.
  • Focus on the Premium Rates: The high cashback you get on the likes of dining and entertainment should be taken advantage of as a lot of other cards will have lower rates in place.

How To Apply For Capital One SavorOne Rewards Card?

Visit the Capital One SavorOne Rewards home page, and click on “Apply now”. 

SavorOne Rewards  how to apply

This takes you to the next page, where you can fill in your “Personal Information” such as your Names, date of birth etc.
Next is your contact and financial information. 

Lastly, ensure you read through the important disclosure page to know your eligibility, fees, costs, rates, etc. 

Then click on “continue” to complete the process..

SavorOne Rewards disclosure

Is the Capital One SavorOne Rewards Card Right for You?

If you enjoy the nightlife and getting out to have some fun, then this could be a great credit card option for you. 

Earning high cash back rewards on dining out and entertainment with no annual fee can be a great way to put extra money back into your pocket doing things you already enjoy doing each week. 

It also offers the generous 15 months on purchases and balance transfersto help you pay down an existing balance you may have or pay off new purchases slowly, interest-free.

Compare The Alternatives

Let’s also review some other high cash back rewards credit cards so you can make a comparison to determine if the Capital One SavorOne card is for you or not.

Amex-Blue-Cash-everyday
Chase Freedom Flex
citi double cash
American Express EveryDay® Card
Chase Freedom Flex℠ Card
Citi® Double Cash Card
Annual Fee
$0 . See Fees & Rates
$0
$0
Rewards
1X – 2X points 2X at U.S. supermarkets (up to $6,000 each year), then 1x on all purchases
1-5% 5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases
2% (1% when purchase and another 1% upon payment) 2% cash back rewards rate – 1% every time you swipe and another 1% upon payment.
Welcome bonus
10,000 points 10,000 points after you spend $1,000 in purchases on your new card within the first 3 months
$200 $200 bonus after you spend $500 on purchases in the first 3 months from account opening
None None
Foreign Transaction Fee
2.7%
3%
3%
Purchase APR
14.49% – 25.49% variable
16.49% – 25.24% variable
15.49% – 25.49% Variable

FAQ

There is no sort of limit in place as to how many rewards you are able to get when using the Capital One SavorOne card to make purchases.

Yes, pre-approval is possible with the Capital One SavorOne Card. A simple form needs to be filled out and you do not have to submit to a hard credit check.

You can get the cash back rewards sent to you in the form of a check, as a statement credit, or get them given to you through gift cards.

You might not have met all of the requirements. You can enquire as to where your application fell short. If you cannot proceed, you can look at some of the other available options.

If you can get better cashback rates elsewhere in equally as a cost-effective manner then there may be other options than the Capital One SavorOne Card to check out.

Review Cash Back Credit Cards

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AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus: $350 $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership
citi-custom-cash_
Rewards Plan:
Up to 5% cash back 5% cash back on your highest eligible spend category each billing cycle up to the first $500 spent and 1% cash back thereafter
Welcome Bonus: $200 $200 cash back after you spend $750 on purchases in the first 3 months of account opening

Advertiser Disclosure

The product offers that appear on this site are from companies from which this website receives compensation. 

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.