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The Capital One® SavorOne® Cash Rewards Credit Card offers a good welcome bonus and excellent return rates that can earn you 3% cash back on common expenses like dining, groceries (excluding superstores like Walmart and Target), streaming, and entertainment — plus there's no annual fee to worry about. It's also become the best no-annual-fee credit card for rideshare expenses, with the ability to earn 10% back on Uber and Uber Eats through November 14, 2024. 

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 5% cash back on hotels and car rentals booked through Capital One travel, 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target), and 1% cash back on all other purchases.

In addition, the card has a couple of limited-time bonus categories including 10% cash back on Uber and Uber Eats purchases through November 14, 2024.

If you like earning cash back and often spend in its 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.

Before you decide if the Capital One® SavorOne® Cash Rewards Credit Card is right for you, be sure to consider the best credit cards for different goals and 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®. The Chase Freedom Unlimited® has an intro bonus of Chase Freedom Unlimited®, and the Chase Freedom Flex℠ has an intro bonus of Chase Freedom Flex℠ similar to the Capital One® SavorOne® Cash Rewards Credit Card

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.

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 (excluding superstores like Walmart and Target), and 1% on everything else. It's also got a substantial welcome offer: Capital One® Savor® Cash Rewards Credit Card.

We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

How to earn cash back with the Capital One SavorOne card

Here's a rundown of what you can expect to earn with the Capital One® SavorOne® Cash Rewards Credit Card:

  • 10% cash back with Uber and Uber Eats through November 14, 2024
  • 5% cash back on hotels and rental cars booked through Capital One Travel
  • 3% cash back on dining, grocery stores (excluding superstores like Walmart® and Target®), eligible streaming services, and entertainment
  • 1% cash back on all other purchases

Some of these categories are extremely broad, so 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. 

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.

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, Capital One Venture X 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).

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.

Uber perks

You might have noticed this card's incredibly high return rate for Uber and Uber Eats spending — 10% unlimited cash back. But it doesn't stop there.

Through November 14, 2024, cardholders can activate a complimentary Uber One membership. This membership normally costs $9.99 per month, and comes with benefits like:

  • Unlimited $0 delivery fees on eligible food, groceries, and other Uber Eats orders (order must be at least $15 from non-grocery stores, and at least $30 from grocery stores)
  • Up to 10% off eligible orders with Uber Eats (doesn't apply to grocery orders)
  • Up to 5% off eligible rides with Uber (doesn't apply to shared rides or rides booked 30 minutes or more in advance)
  • Access to exclusive member-only perks and promotions

If you'd otherwise pay for Uber One membership, this is a $240 value for you.

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. 

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. 

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 for unauthorized charges

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. 

Fees and Other 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 a Capital One SavorOne Cash Rewards Credit Card, then a Capital One® SavorOne® Cash Rewards Credit Card APR. 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.

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

Comparison: Capital One SavorOne vs Other Capital One Cards

 

Capital One® SavorOne® Cash Rewards Credit Card

Capital One VentureOne Rewards Credit Card

Capital One Quicksilver Cash Rewards Credit Card

Annual fee

Capital One® SavorOne® Cash Rewards Credit Card

Capital One VentureOne Rewards Credit Card

Capital One Quicksilver Cash Rewards Credit Card

Rewards rate

10% cash back with Uber and Uber Eats through November 14, 2024

5% cash back on hotels and rental cars booked through Capital One Travel

3% cash back on dining, grocery stores (excluding superstores like Walmart® and Target®), eligible streaming services, and entertainment

1% cash back on all other purchases

5 miles per dollar on hotels and rental cars booked through Capital One Travel

1.25x miles on every purchase

5% cash back on hotels and rental cars booked through Capital One Travel

1.5% cash back on all other purchases

Welcome bonus

Capital One® SavorOne® Cash Rewards Credit Card

Capital One VentureOne Rewards Credit Card

Capital One Quicksilver Cash Rewards Credit Card

Card benefits

Extended warranty on eligible purchases***

Travel assistance services***

Car rental insurance***

Extended warranty on eligible purchases***

 

Extended warranty on eligible purchases***

Travel assistance services***

Introductory 0% APR offer

Capital One SavorOne Cash Rewards Credit Card, then a Capital One® SavorOne® Cash Rewards Credit Card APR

Capital One VentureOne Rewards Credit Card, then a Capital One VentureOne Rewards Credit Card APR

Capital One Quicksilver Cash Rewards Credit Card, then a Capital One Quicksilver Cash Rewards Credit Card APR

Foreign transaction fee

No

No

No

Review

 

Capital One VentureOne card review

Capital One Quicksilver card review

Capital One SavorOne vs Other Cash-Back Credit Cards

 

Capital One® SavorOne® Cash Rewards Credit Card

Chase Freedom Flex℠

Citi® Double Cash Card

Annual fee

Capital One® SavorOne® Cash Rewards Credit Card

Chase Freedom Flex℠

Citi® Double Cash Card

Rewards rate

10% cash back with Uber and Uber Eats through November 14, 2024

5% cash back on hotels and rental cars booked through Capital One Travel

3% cash back on dining, grocery stores (excluding superstores like Walmart® and Target®), eligible streaming services, and entertainment

1% cash back on all other purchases

5% cash back (5x points) on travel purchased through Ultimate Rewards

5% cash back (5x points) on up to $1,500 in purchases each quarter in rotating bonus categories when you activate

3% cash back (3x points) on dining and drugstore purchases

1% cash back (1x points) on everything else

1% cash back when you buy, plus 1% cash back when you pay your bill

Welcome bonus

Capital One® SavorOne® Cash Rewards Credit Card

Chase Freedom Flex℠

N/A

 

Card benefits

Extended warranty on eligible purchases***

Travel assistance services***

Cell phone protection

Car rental insurance (secondary in the US, primary otherwise)

Trip cancellation/interruption insurance

Purchase protection

Extended warranty

Travel and emergency assistance services

Access to Citi Entertainment

Introductory 0% APR offer

Capital One SavorOne Cash Rewards Credit Card, then a Capital One® SavorOne® Cash Rewards Credit Card APR

Chase Freedom Flex℠, then a Chase Freedom Flex℠ APR

Citi® Double Cash Card, then a Citi® Double Cash Card APR

Foreign transaction fee

No

Yes

Yes

Review

 

Chase Freedom Flex card review

Citi Double Cash card review

Capital One SavorOne Frequently Asked Questions (FAQ)

Does the Capital One SavorOne have an annual fee?

No. The card is free to keep year after year.

Is the Capital One SavorOne worth it?

Because the Capital One® SavorOne® Cash Rewards Credit Card charges a Capital One® SavorOne® Cash Rewards Credit Card annual fee, this card is one of the most worthwhile cash-back credit cards. It's got excellent bonus categories (up to 10%), and there's no annual fee to offset.

Is Capital One SavorOne a Visa or Mastercard?

This card is a Mastercard.

What credit score do you need for the Capital One SavorOne?

Capital One says that excellent credit is required to qualify for this card. Capital One says excellent credit is:

  • You've never declared bankruptcy or defaulted on a loan
  • You've never been more than 60 days late on any credit card, medical bill, or loan in the last year
  • You've had a loan or credit card for three years or more with a credit limit above $5,000

You can learn more about how to improve your credit score — and how using credit cards can help boost your score — if you'd prefer your credit score to be higher.

Read the original article on Business Insider