Credit cards are like different flavors, each catering to specific spending patterns and lifestyles. And the Capital One SavorOne Cash Rewards Credit Card is no exception. This card is perfect for those who love going to concerts, dining out, and experiencing the best life has to offer. Plus, it offers added value with cash-back rewards on groceries. Here’s everything you need to know about this exciting card.
Capital One SavorOne Cash Rewards Credit Card: A Flavorful Choice
The Capital One SavorOne Cash Rewards Credit Card is an excellent choice for those who enjoy entertainment, travel, and dining out. It offers an impressive 8% cash back on Capital One entertainment purchases, making it one of the best no-annual-fee cards in terms of cash-back rates. However, it’s important to note that to earn the highest cash-back rates, you must use Capital One’s portals to purchase event tickets. While other cards may offer better rates in specific categories or flat-rate cash back, the SavorOne Card is a fantastic option for anyone who regularly spends on experiences.
Capital One SavorOne Pros & Cons
Pros:
- High cash-back rate on entertainment, travel, dining, and groceries.
- No annual fee or foreign transaction fees.
- Includes a welcome bonus.
Cons:
- Must use Capital One’s portal for the highest cash-back rates.
- Grocery category excludes superstores like Walmart and Target.
- Streaming category excludes Prime Video.
Who Is the Card For?
The Capital One SavorOne Card is designed for individuals who will take full advantage of its high cash-back rates. Here’s a breakdown of the different categories:
8% on Capital One Entertainment
If you love concerts, food festivals, sporting events, or stand-up comedy, this card is perfect for you. Capital One Entertainment offers a wide range of events where you can earn an impressive 8% cash back. Although availability may vary depending on your location and popular events may sell out, there are always plenty of options to earn a high cash-back rate.
5% on Capital One Travel
With Capital One Travel, you can enjoy 5% cash back when you book flights, hotels, and rental cars. However, note that flights are not included in the 5% category.
3% Cash-Back Categories
The SavorOne Card offers 3% cash back on various categories, including dining, entertainment, streaming services, and groceries. Any purchases that fall into these categories will earn 3% cash back. Unlike other cards with caps on their 3% categories, the SavorOne Card allows for unlimited 3% cash back in these categories. However, it’s important to note that the grocery category excludes Walmart and Target, and the streaming services category excludes Prime Video. These purchases will earn 1% cash back, which is the rate for all other purchases.
It’s worth mentioning that Capital One recommends an excellent credit level for applicants, which means you should have a credit score of at least 740 to increase your chances of approval.
Features to Consider
While the cash-back categories are the main draw of the SavorOne Card, it also offers several other features worth considering:
Earn a Welcome Offer
The SavorOne Card includes a welcome offer that can be a nice incentive, especially since there are no annual fees or additional charges.
Low Intro APR
This card comes with a low introductory APR rate for balance transfers, making it an attractive choice if you’re looking to lower your existing credit card debt.
Reasonable Regular APR
The regular APR for the SavorOne Card is competitive compared to other no annual fee credit cards. However, as with any credit card, it’s best to pay your bill in full each month to avoid interest charges.
Flexible Redemptions
The SavorOne Card provides various redemption options, including cash back, reimbursement for previous purchases, gift cards, and even the ability to convert rewards into airline miles. You can transfer points to Capital One’s airline transfer partners at a 1:1 ratio. While major U.S.-based airlines are not available, you can choose from airlines like Air France KLM, British Airways, Singapore Airlines, and Virgin Red.
The Fine Print
Here are some important details to consider:
- Regular APR: [APR rate]
- Cash advance APR: [Cash advance APR]
- Cash advance fee: [Cash advance fee]
- Balance transfer fee: [Balance transfer fee]
- Late payment fee: Up to [Late payment fee]
Additional Hidden Perks
In addition to the fantastic cash-back rates, the SavorOne Card offers several hidden perks:
- Extended warranty protection on eligible purchases
- Travel accident insurance for covered losses when using the card to purchase travel
- $0 fraud liability for unauthorized charges
- Access to Capital One’s online shopping portal that applies discounts automatically
- The ability to use Capital One rewards for PayPal purchases at millions of online merchants
- Complimentary concierge service for assistance with travel, dining, and entertainment reservations
- 24/7 travel assistance, including emergency card replacement and cash advances
Paired with its high cash-back rates, these hidden perks make the SavorOne Card even more rewarding.
What Could Be Improved
While the SavorOne Card is an excellent choice overall, there are a couple of areas where improvements could be made. Some customers may be disappointed that Target, Walmart, and Prime Video are excluded from their respective bonus categories. However, you can still earn 1% cash back on these purchases. Additionally, when it comes to earning bonus cash back on hotels and rental cars, you are limited to using Capital One’s travel portal. This restriction may be a minor inconvenience for some.
Card Alternatives
If you’re considering alternatives to the SavorOne Card, you may want to explore these options:
- [Alternative Card 1]: Earn an additional 1.5% cash back
- [Alternative Card 2]: Offers similar features, including a welcome offer and low intro APR rate
Combining multiple cards can help you maximize your cash-back rates and overall rewards.
The Bottom Line
If you’re someone who loves concerts, dining out, and traveling, the Capital One SavorOne Cash Rewards Credit Card is perfect for you. With its high cash-back rates and flexible redemption options, this card provides excellent value without any annual fees. While it may exclude certain retailers and streaming platforms from bonus categories, the SavorOne Card still offers ample benefits and rewards. Apply now and start experiencing the perks of the SavorOne Card today!