Capital One SavorOne card review: A $200 bonus and strong, useful cash-back categories with no annual fee

Review: Is the Capital One SavorOne the best credit card for you?

There's a lot to like about the Capital One® SavorOne® Cash Rewards Credit Card. The broad bonus categories appeal to most households and there's potential to earn a lot of cash back. It's also the rare card without an annual fee that doesn't put a cap on the rewards you can earn. 

The Capital One® SavorOne® Cash Rewards Credit Card has a solid welcome offer: Capital One® SavorOne® Cash Rewards Credit Card. You'll also earn 3% cash back on dining, entertainment, popular streaming services, and at grocery stores, and 1% cash back on all other purchases. 

If you like earning cash back and often spend in the bonus categories, this is an excellent card to keep at the top of your wallet. There are no foreign transaction fees and no annual fee, so it's an ideal card for worldwide travel and to keep long-term. 

Read more: The best Capital One credit cards

Before you decide if the Capital One® SavorOne® Cash Rewards Credit Card is right for you, be sure to consider other cash-back cards to see if their bonus categories are a better fit. Worthy contenders include the Chase Freedom Flex℠ and Chase Freedom Unlimited®, which earn 3% cash back on dining and at drugstores, and 5% cash back on travel booked through Chase.

The Chase Freedom Flex℠ has 5% cash back categories that rotate every quarter on up to $1,500 in combined spending when you activate (then 1%), and earns 1% cash back on all other purchases, while the Chase Freedom Unlimited® earns 1.5% cash on all other purchases.

The best Freedom card for you comes down to whether you prefer the rotating 5% categories with the Chase Freedom Flex℠ or like the 1.5% earning on everything else with the Chase Freedom Unlimited®. Both of these cards also have a welcome bonus of Chase Freedom Unlimited®, similar to the Capital One® SavorOne® Cash Rewards Credit Card. However, the Freedom cards also come with 5% back (5x points) at grocery stores (excluding Target and Walmart) on up to $12,000 in spending during the first year of account opening (then 1x).

Whether to choose one of the Chase Freedom cards over the Capital One® SavorOne® Cash Rewards Credit Card depends on which bonus categories suit your usual spending. Personally, I like having groceries and streaming as 3% cash back categories, but you might find 3% cash back at drugstores and 5% cash back from booking travel to be more useful.

Read more: The best cash-back credit cards

You might also want to look at the Capital One® SavorOne® Cash Rewards Credit Card's big sibling — the Capital One® Savor® Cash Rewards Credit Card. While it charges a Capital One® Savor® Cash Rewards Credit Card annual fee, it offers unlimited 4% cash back on dining, streaming, and entertainment, 3% at grocery stores, and 1% on everything else. It's also got a substantial welcome offer: Capital One® Savor® Cash Rewards Credit Card.

Comparison: Capital One SavorOne vs other Capital One cards

Capital One SavorOne vs other cash-back credit cards

How to earn cash back with the Capital One SavorOne card

There are broad bonus categories with the Capital One® SavorOne® Cash Rewards Credit Card, and it's worth mentioning what's included — and what isn't. 

Dining includes purchases at restaurants, cafes, bars, fast-food chains, and bakeries. In practice, this category includes coffee shops and delivery services like DoorDash and Uber Eats, though it's not explicitly stated. And it should also work for takeout and pick-up, especially if you call the restaurant directly and they process your purchase. 

Grocery stores include supermarkets, meat lockers, freezers, dairy product stores, and specialty markets. It does not, however, include superstores like Walmart or Target, or big-box warehouse clubs like Costco and Sam's Club. 

Read more: The best credit cards for groceries

Entertainment is another broad category that includes movie theaters, most live professional sporting events, theatrical promoters, amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls, and bowling alleys. That's quite a lot that qualifies for bonus earning in this category! It does not include golf courses, college sporting events, and cable or membership service events (think pay-per-view or add-ons to streaming services). 

For the streaming bonus category, Capital One only mentions Netflix, Hulu, and Disney+ by name, but in practice, it should include most popular streaming services. The only ones that are specifically excluded are Prime Video, AT&T, and Verizon FIOS On Demand, as well as audiobook subscription services and fitness programming. 

Read more: The Capital One Savor cards now earn bonus cash back on streaming services, plus higher rewards on groceries

Plus, through January 31, 2023, you'll earn 8% cash back through Vivid Seats, which sells tickets to sports, concerts, and theater events. That's an excellent return if you find an event you want to attend. 

How to redeem SavorOne cash-back rewards

You can redeem your rewards for any amount at any time, either for cash (in the form of a check) or statement credits directly applied to your account. As long as your account is open and in good standing, your rewards won't expire.

You can also redeem your rewards for gift cards or for merchandise through Amazon or PayPal, although the redemption rate varies. For this reason, it's better to simply redeem your rewards for cash back or statement credits for the items you want to buy. 

Capital One allows you to set up automatic redemptions at a set time each year, or upon reaching a specific amount of rewards ($25, $50, $100, $200, $500, or $1,500). 

If you also have another personal Capital One card that earns miles, such as the Capital One Venture Rewards Credit Card or Capital One VentureOne Rewards Credit Card, you can transfer the rewards you earn from the Capital One® SavorOne® Cash Rewards Credit Card to that card account (but not the other way around).

Read more: How to earn, redeem, and maximize Capital One miles

This adds another layer of possibility because those cards allow you to redeem your rewards for travel statement credits or transfer them to airline and hotel partners, including Air Canada, Avianca, British Airways, and Choice and Wyndham hotels. 

Benefits and features

The exact benefits you'll receive with your Capital One® SavorOne® Cash Rewards Credit Card depend on the card type you receive upon approval, which can be a Visa or Mastercard. However, there are some benefits that come with every version of the card. 

Extended warranty

You'll get additional warranty protection on eligible items that you purchase with your Capital One® SavorOne® Cash Rewards Credit Card. 

Travel accident insurance

Automatic insurance kicks in for a covered loss when you use your Capital One® SavorOne® Cash Rewards Credit Card to purchase the fare for your trip. 

Read more: The best credit cards with travel insurance

24-hour travel assistance service

If your card is lost or stolen, you can get an emergency replacement, as well as a cash advance, to help you get to where you need to go. 

Concierge service

This service is available 24 hours a day to help you make dining reservations, purchase tickets to events and entertainment, and book travel. When you use the concierge service, you also authorize charges on your Capital One® SavorOne® Cash Rewards Credit Card to secure reservations and bookings made on your behalf. 

Event access

Your card gets you access to VIP experiences, discounts, and on-site perks at sports and concert events, and access to curated dinners and chef collaborations. To take advantage of this perk, you'll need to use your Capital One® SavorOne® Cash Rewards Credit Card to purchase your tickets. 

Read more: Your credit card number could get you presale ticket access to concerts, sports games, and more — here's how

Account and security alerts

Receive an alert as a text, email, or phone call if Capital One detects suspicious transactions, potential mistakes, or unexpected charges such as a duplicate purchase or increase on a recurring bill. These alerts keep aware of your account so you can take immediate action if needed. 

$0 fraud liability 

If your card is lost or stolen, you won't be held responsible for unauthorized charges made to your account.  

Virtual card numbers

If you want to pay for online purchases while keeping your actual card number private, you can generate a virtual card number for more security. 

Card lock

Easily and instantly lock your card if your card is lost or stolen, or if you temporarily misplace it. This will prevent unauthorized charges until you find your card or get a replacement.  

Credit report alerts

Receive alerts when information on your Experian or TransUnion credit report changes, like new account inquiries, address changes, or credit score updates. 

Read more: Identity theft is a major problem, but these 5 credit card protection programs can help keep you safe

Fees and costs

The Capital One® SavorOne® Cash Rewards Credit Card doesn't have an annual fee or foreign transaction fees, so it's an excellent card to use abroad and keep long-term. 

New cardholders get an introductory 0% APR on purchases for the first 15 months (then a Capital One® SavorOne® Cash Rewards Credit Card). If you have a big purchase to make you want to pay off over time, using a 0% APR offer is a good way to save on interest — as long as you have the means and a plan to pay off the balance before the promotional period expires.

Read more: The best low-interest and 0% APR credit cards

Like most other cards, the Capital One® SavorOne® Cash Rewards Credit Card charges fees for balance transfers, late payments, and returned payments. 

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