Credit Cards » Credit Card Reviews » Capital One SavorOne Rewards Credit Card Review 2021
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Capital One SavorOne Rewards Credit Card Review 2021

ou 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.

We may receive compensation from companies that appear on this page. This may impact how and where products appear on a page (including, for example, the order in which they appear). It doesn’t affect our unbiased editors’ opinions. our opinions are our own.

In This Review..

The Capital One SavorOne Cash Back rewards credit card is a no annual fee card and will help you earn cash back rewards on everyday activities. It offers generous cash back for entertainment expenses and eating out at fast food or restaurants as well as a better than average cashback rate for groceries. 

Capital One SavorOne Rewards

On Capital One’s Secure Website

Rewards Plan

Unlimited 3% cash back on dining and entertainment, 2% at grocery stores (excluding superstores like Walmart® and Target®) and 1% on all other purchases.

Sign up Bonus

One-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening

0% Intro

0% intro APR for 15 months

PROS

CONS

APR

15.49% - 25.49%

Annual Fee

$0

Balance Transfer Fee

3%

Credit Requirements

Good – Excellent

Enjoy the generous 15-month 0% on balance transfers and APR to help you pay down an existing balance you may have or pay off new purchases slowly, as well as a One-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening sign up bonus.

On the negative side, this card has higher than average APR and 3% balance transfer fee. 

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

In order to avoid bias based on a small number of reviews, we present only ratings with at least 200 reviews.

Benefits

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

If you don’t decide to eat out one night, don’t worry!

The Capital One SavorOne card is offering 2% cash back on groceries so you can stay in and enjoy eating at home knowing you’re earning double the reward points of most credit cards.

Additionally, you get 1% cash back on all other purchases. 

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. 

If you have a credit card that you are trying to pay down, you can transfer the account and pay no interest on the transfer for 15 months. 

You can also charge up the card and pay no interest for 15 months on your purchases. This is great if you have a big purchase in mind and want to pay over time. 

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 3% reward on purchases made eating out and on entertainment.

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. 

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.

One feature you’ll enjoy about the Capital One SavorOne card is there are no rotating rewards categories.

Every month you earn the same 3% back on dining out and entertainment and you earn the same 2% on groceries.

There also is no maximum reward amount you can earn each quarter so if you happen to spend a lot, you’ll get all those reward points, no caps. 

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 access to the 0% APR introductory rate for 15-months 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 15.49% – 25.49% so depending on your credit you may fall higher or lower on the rate range. 

Application Process

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

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..

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.

The Quicklsilver cash rewards card’s earns 1.50% rewards on every dollar spent everywhere. While that’s generally lower than the SavorOne, the Capital One Quicksilver Cash Rewards Credit Card makes up for it with exciting perks.

In addition to the aforementioned intro 0% APR periods on both balance transfers and purchases, this card offers a sign-up bonus of Earn a one-time $250 cash bonus once you spend $500 on purchases within 3 months from account opening spend $500 in the first three months, as well as a lower variable 15.49% – 25.49% after the intro period. The Quicksilver cash rewards card does not come with an annual fee.

However, there is 3% fee on the amounts transferred within the first 15 months. 

The Chase Sapphire Credit card is in their top spot in regards to the best traveling and dining cards as they offer you 2X more points compared to other cards. In addition, Chase Bank offers a 25% point’s bonus, whenever you redeem the points for travel.

2X on travel and dining at restaurants and 2X points on grocery store purchases (till April 30, 2021 and up to $1,000 in grocery store purchases per month ), 1 point per dollar spent on all other purchases . This is equivalent to $750 in travel costs when you redeem your travel rewards.

You shall also earn 2x points while traveling and dining at a variety of restaurants around the world and one point on the dollar on any other purchases. If you use any Lyft rides from now up to March 2022, you shall earn 5X points.

However, with all of these rewards, you should note that the card has an annual fee of $95 . The APR range between 15.99% – 22.99% , depends on your credit worthiness. 

The Discover It Cash Back credit card is a great option for someone who wants access to 5% rewards on rotating spending categories each quarter and unlimited 1% on all other purchases.

It also offers 0% Intro APR for 14 months on purchases and balance transfers. 0% APR intro period on purchases and balance transfers for  giving you time to pay off your balance without interest. Then 11.99% to 22.99% Standard Variable Purchase APR and 5% balance transfer fee.

The discover cash back card  does not come with an annual fee. 

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-month 0% APR period to help you pay down an existing balance you may have or pay off new purchases slowly, interest-free.

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.