Capital One SavorOne Card Overview
The Capital One SavorOne Cash Rewards Credit Card is an affordable choice with cash back benefits focused on dining, entertainment, and grocery purchases. While other cashback cards may offer higher rewards, SavorOne is a good option for those with limited credit histories looking to earn in popular categories.
Card rating*: ⭐⭐⭐
*Card ratings reflect the views of TPG editors and aren’t swayed by card issuers.
Capital One has a range of cards, including various cashback options. SavorOne used to be available with no annual fee but was discontinued in October 2024. It then reemerged as the Capital One Savor Cash Rewards Credit Card.
Now, SavorOne comes with a $39 annual fee, targeting individuals with fair credit or those aiming to rebuild their credit scores. This fee is low enough that you can offset it easily through monthly spendings in its popular bonus categories.
Generally, the “One” tag in Capital One card names (like SavorOne or QuicksilverOne) signals they’re geared towards those with fair credit. A credit score of at least 580 is recommended by TPG to boost your approval chances for these cards.
Here are some other important points about this cashback card.
Capital One SavorOne Card Pros and Cons
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Capital One SavorOne Card Welcome Offer
SavorOne doesn’t come with a welcome bonus. If you’re seeking bonuses right off the bat, you might want to look at the Capital One Savor Cash instead.
Keep in mind that Capital One has specific eligibility criteria for applications, which could impact your approval likelihood.
Capital One SavorOne Card Benefits
This card has limited perks, but one of its significant benefits is the absence of foreign transaction fees.
Other benefits include automatic reviews of your credit line, which can help in building trust. Plus, you have free access to your FICO score and protection against fraud liability.
Additionally, cardholders can enjoy daily discounts on drinks at Capital One Cafes.
Earn cashback with the Capital One SavorOne Card
The SavorOne card features a diverse range of bonus categories. Here’s a brief overview:
Capital One defines entertainment quite broadly, meaning if you’re keen on earning bonus cash back, there’s plenty to cover. The terms specify:
“Ticket purchases at movie theaters, sports events (both professional and semi-professional), amusement parks, tourist attractions, aquariums, zoos, etc. Exclusions include seller codes for golf courses and college events, as well as non-industrial entertainment like cable and streaming services.”
Redeem cashback on your Capital One SavorOne Card
This card simplifies the cashback redemption process. Options include:
- Amazon
- Cashback through PayPal
- Gift cards
- Statement credit
However, if you pair this card with a Capital One miles-earning card, like the Capital One Venture Rewards Credit Card, you can convert your cashback into miles. This opens up Capital One’s list of over 15 transfer partners, which include airlines and hotels.
Transferring miles typically offers higher redemption values, often surpassing 1 cent per mile. Given SavorOne’s bonus rates, this strategy could provide added value, especially if you’re looking to make the most of Capital One’s transfer options.
Which cards compete with the Capital One SavorOne Card?
If you’re weighing whether this card fits your needs, consider these alternatives:
- If you prefer not to track bonus categories: The Capital One QuicksilverOne Cash Rewards Credit Card could be a better fit, with the same $39 annual fee and a straightforward earning structure of 1.5% cash back on everything.
- If you want rotating categories each quarter: The Discover it® Cash Back Credit Card offers 5% cash back on your first $1,500 spent each quarter at select businesses, with 1% back on other purchases, and matches your first-year cash back.
- If starting with no credit history: The Capital One Quicksilver Secure Cash Rewards Credit Card allows you to build credit with a similar rewards structure and no annual fee.
Is the Capital One SavorOne card worth it?
This card can be a solid choice for those with good credit seeking bonus benefits. But if your credit isn’t great, there are options available without annual fees. For those with established credit, Savor Cash Rewards, which has no fee, might be a better pick. Personally, I find that Savor Cash Rewards provides good value.
Conclusion
SavorOne guarantees cashback earning in various everyday spending categories. However, its lack of extensive perks and welcome offers can be seen as a downside. Even with a limited credit score, you may find alternatives that offer similar rewards with added benefits, all sans annual fees.
Details: Capital One SavorOne Cash Rewards
Some benefits linked to Capital One products are provided by Visa® or Mastercard® and may differ by product. Terms and exclusions apply; check the corresponding benefits guide for specifics.
