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The Capital One SavorOne Cash Rewards Credit Card is designed for people with fair credit who still want to earn cash back on everyday spending. It offers rewards in popular categories like groceries, dining, entertainment, and streaming services, all for a modest $39 annual fee.
But is it the right card if you’re looking to rebuild your credit while earning rewards? Let’s take a closer look at the card’s details to see if it belongs in your wallet.
- Earn 8% cash back on Capital One Entertainment purchases
- Earn 5% cash back on hotels, vacation rentals, and rental cars booked through Capital One Travel
- Earn 3% cash back at grocery stores (excluding superstores like Walmart® and Target®)
- Earn 3% cash back on dining, entertainment, and popular streaming services
- Earn 1% cash back on all other eligible purchases
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Capital One SavorOne Pros
- Solid cash back earning for those with fair credit
- No redemption minimum threshold
- No foreign transaction fees
Capital One SavorOne Cons
- $39 annual fee
- No welcome bonus
- Does not offer access to transfer partners
Capital One SavorOne Welcome Offer
Currently, the Capital One SavorOne has no cash back welcome offer and does not include an introductory APR for new cardholders. That might sound disappointing, but it’s fairly typical for credit cards aimed at people with fair credit. As a result, the lack of a sign-up bonus here isn’t much of a surprise.
Related: The Best No-Annual-Fee Credit Cards for Earning Transferable Points
Earning Rewards With the Capital One SavorOne
Where the Capital One SavorOne really shines is in its earning rates. Here's a snapshot of how you'll earn rewards with this card:
- Earn 8% cash back on Capital One Entertainment purchases
- Earn 5% cash back on hotels, vacation rentals, and rental cars booked through Capital One Travel
- Earn 3% cash back at grocery stores (excluding superstores like Walmart® and Target®)
- Earn 3% cash back on dining, entertainment, and popular streaming services
- Earn 1% cash back on all other eligible purchases
Redeeming Rewards With the Capital One SavorOne
You can redeem cash back earned with the Capital One SavorOne in several ways. For example, you can apply it as a statement credit against purchases made with your card. You can also use your rewards for purchases through PayPal or Amazon after linking your card.
Unfortunately, this card doesn’t allow you to convert cash back into Capital One miles. To do that, you’d need a card like the Capital One Savor Cash Rewards Credit Card ($0 annual fee), which is geared toward people with stronger credit profiles.
Capital One SavorOne Benefits
The Capital One SavorOne includes a handful of additional benefits beyond its cash-back earnings on everyday spending.
Discounts at Capital One Cafés
Capital One operates more than 60 Capital One Cafés nationwide, and holders of the Capital One SavorOne receive 50% off prepared beverages when they pay with their card. However, this perk also applies to other Capital One credit cards and even debit cards, so it isn’t exclusive to the Capital One SavorOne.
Credit score monitoring
With Capital One’s CreditWise tool, cardholders get complimentary credit score monitoring. While you don’t need to be a Capital One customer to use CreditWise, it’s conveniently integrated into Capital One’s online and mobile experience.
Fraud coverage
Capital One protects Capital One SavorOne cardholders with a $0 fraud liability policy for unauthorized charges. As with any issuer, fraud claims are subject to review and verification.
Access to Capital One Travel
In addition to earning a solid 5% cash back on hotels, vacation rentals, and rental cars, access to Capital One Travel is a perk on its own. The portal also offers price protection on booked flights.
To illustrate how this works, if your flight drops in price within 10 days of booking, you can receive up to a $50 statement credit. And if the price drops within 24 hours of booking, Capital One’s Price Match Guarantee applies.
Access to Capital One Entertainment
Capital One SavorOne cardholders earn 8% cash back on Capital One Entertainment. This can be especially useful for concerts and sporting events, where prices are often similar to what you’d find elsewhere, and it’s even better when Capital One offers early or exclusive access to tickets.
Application Restrictions
There are a few application rules to keep in mind if you’re considering the Capital One SavorOne.
First, Capital One limits how many of its credit cards you can hold at once. This is often reported as a cap of five cards, with additional limits within each card family like Venture, Savor, and Quicksilver, plus charge cards. However, Capital One doesn’t publish an official maximum. Business cards also typically don’t count toward these limits.
You can also apply for only one Capital One card every six months. And because Capital One relies heavily on its own proprietary risk models, your application will usually be evaluated using credit reports from all three major bureaus.
Cards That Complete With the Capital One SavorOne
If you want to make a more informed decision about your next credit card, here are three great options that compete with the Capital One SavorOne:
- If you’re looking for a credit-building Capital One card with no annual fee, consider the Capital One Platinum Credit Card. It’s designed to help people with fair credit build toward excellent credit without paying an annual fee, though it doesn’t earn rewards. Learn more about the Capital One Platinum in our full review.
- If you’re looking for a rewarding card with no annual fee, check out the Citi Double Cash® Card. It earns 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Learn more about the Citi Double Cash in our full review.
- If you’d rather earn Capital One miles instead of cash back, the Capital One VentureOne Rewards Credit Card offers 1.25X miles per dollar on every purchase, plus 5X miles on hotels, vacation rentals, and rental cars booked through Capital One Travel — with no annual fee. Learn more about the Capital One VentureOne in our full review.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time.
Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- 5 Miles per dollar on hotels, vacation rentals, and rental cars booked through Capital One Travel
- 5 Miles per dollar on purchases through Capital One Entertainment
- 1.25 Miles per dollar on every purchase, every day.
Related: The Best Credit Cards With No Annual Fee and 0% Introductory APR
Bottom Line
The Capital One SavorOne Cash Rewards Credit Card is a decent option for people rebuilding their credit, but its $39 annual fee eats into much of the card’s upside. To break even on that fee, you’d need to spend at least $1,300 in the 3% bonus category. It's possible that might be a tall order for many people in this card’s target market.
There are also plenty of rewards cards with no annual fee. If you’re focused on rebuilding or building your credit, keeping that cost at $0 is usually the way to go. You can always upgrade to a more lucrative rewards card once your credit improves.
- Earn 8% cash back on Capital One Entertainment purchases
- Earn 5% cash back on hotels, vacation rentals, and rental cars booked through Capital One Travel
- Earn 3% cash back at grocery stores (excluding superstores like Walmart® and Target®)
- Earn 3% cash back on dining, entertainment, and popular streaming services
- Earn 1% cash back on all other eligible purchases
For rates and fees of the cards mentioned in this post, please visit the following links: Citi Double Cash® Card (Rates & Fees)
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