If the idea of a quiet dinner at home doesn’t interest you, the may be the perfect card for you. Capital One® SavorOne® Cash Rewards Credit Card is aimed towards people who spend their time and money out on the town, and offers supersized rewards with no annual fee.
You’ll earn unlimited 3% cash back on dining and entertainment, 2% cash back at grocery stores and 1% cash back on all other purchases, plus get access to exclusive Capital One events and experiences. With an easy-to-earn sign up bonus, Capital One® SavorOne® Cash Rewards Credit Card will earn you cash back for every meal and event.
What we like about the Capital One® SavorOne® Cash Rewards Credit Card
- Great rewards: 3% cash back on dining and entertainment purchases, 2% back at grocery stores and 1% back on all other purchases
- No annual fee: Keep more money in your pocket
- Easy-to-earn sign up bonus: You’ll earn a $150 cash bonus once you spend $500 on purchases in any category within the first three months
- Intro APR offer: 0% interest for the first 15 months on both purchases and balance transfers, then 15.49% - 25.49% (Variable) after that; balance transfers have a 3% fee during the intro APR period
- Exclusive access: As a Capital One® SavorOne® Cash Rewards Credit Card cardholder, you’ll have VIP access to various food and entertainment events throughout the year
Things to consider
- Rewards weighted for dining and entertainment: The card’s value comes from its 3% cash back on dining and entertainment purchases. For all other purchases, you can find cash back card with a better rewards rate, like the Citi Double Cash. If you don’t eat out that often, you’ll either want to supplement this card with another rewards card or skip it altogether.
- Low sign up bonus: While the $150 new cardmember bonus is easy to earn (after you spend $500 on purchases within the first 3 months) and on par with several other cash back cards, it’s not something to write home about. There are better cash back sign up bonuses available, such as the one attached to the Chase Freedom®. Chase Freedom® offers $200 cash back when you spend $500 in the first three months along with rotating 5% cash back categories.
Dining and entertainment cash back details
is a worry-free card for people who want to earn rewards for their dinners, Sunday brunches and matinee movies without paying an annual fee.
If you spend quite a bit in the dining and entertainment categories each month, this card is hard to beat. You’ll earn 3% cash back on all dining and entertainment purchases, 2% back at grocery stores and 1% on all other purchases. You’ll also earn $150 cash back when you spend $500 on purchases in any category within three months of your account opening. Your rewards never expire as long as your account is open, and there’s no limit on the amount you can earn each month.
Capital One® SavorOne® Cash Rewards Credit Card’s cash back rewards allow you ultimate flexibility in how you redeem them. You can redeem your Savor rewards in the Capital One app for gift cards, a statement credit or for a purchase made with your Capital One® SavorOne® Cash Rewards Credit Card. On Capital One’s website, you’ll also have the option to redeem your points as cash. If you choose the cash option, Capital One will mail you a check for the value of your redeemed points.
Capital One® SavorOne® Cash Rewards Card fees
One of the card’s biggest perks is that there is no annual fee, but it does have competitive fees for its category. For balance transfers, you’ll pay a 3% fee during the first 15 months, which is the length of the intro 0% APR period for purchases and balance transfers. After the intro period, there is no balance transfer fee, but you will see a $0 APR for balance transfers and purchases. This card has no foreign transaction fees and up to a $39 late payment fee.
How does it compare to other cash back cards?
The leads the pack for category-specific cash back cards, considering it has no annual fee. If you don’t mind paying a $0 intro for first year; $95 after that for the annual fee, its sibling Capital One credit card, the , offers a more competitive sign up bonus and 4% back on dining and entertainment. If you don’t spend enough money on dining and entertainment purchases, the credit card gives you 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate and 1% on all other purchases.
| Card | Ongoing Purchase APR | Annual Fee | Intro Bonus | Credit Needed | Key features |
|---|---|---|---|---|---|
| 15.49% - 25.49% (Variable) | $0 | $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening | Good to Excellent |
|
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| Capital One® Savor® Cash Rewards Credit Card | 15.99% - 24.99% (Variable) | $0 intro for first year; $95 after that | Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening | Good to excellent |
|
| Discover it® Cash Back | 13.49% - 24.49% Variable | $0 | Discover will match all the cash back you earn at the end of your first year | Good to Excellent |
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The bottom line
The is perfect for people who want to maximize their rewards on dining and entertainment purchases without paying an annual fee. You’ll get the best use of this card by pairing it with another cash back card, like the Citi Double Cash. Pairing multiple cash back cards together allows you to maximize your Capital One® SavorOne® Cash Rewards Credit Card on dining and entertainment, while another card can earn you more cash back on all other purchases.
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The post Capital One® SavorOne® Cash Rewards Credit Card Review appeared first on The Simple Dollar.
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