Capital One SavorOne cardholders may find this offer offers competitive cash back rates across several spending categories and an attractive introductory bonus, yet may not be suitable for everyone.
WalletHub’s 100-point credit card rating system takes many factors into consideration when assessing whether a card is worthwhile, including its rewards rate of 4% across dining, entertainment and grocery store purchases and generous $300 first year bonus.
3% cash back on dining and entertainment
Capital One SavorOne is one of the best cash back cards for dining and entertainment spending, offering a competitive 3% rewards rate in these categories, along with 2% at grocery stores (excluding superstores like Walmart and Target) and 1% on all other purchases – not to mention a $200 signup bonus after spending $500 within three months! Plus there are no earnings caps or rotating categories, ensuring you always get that 3% rewards rate when spending in these categories!
Capital One Travel offers attractive boosted rates for hotel and rental car bookings; capitalizing on this feature could earn up to 6% of your spending back! Plus, Capital One provides comprehensive purchase protections.
Each month, make sure that you pay your bill in full and avoid carrying a balance so that the interest charges won’t outweigh any benefits from earning rewards. If this occurs, redeem your rewards frequently in order to reduce debt as quickly as possible.
Depending on how much or little spending falls under these categories, other rewards cards that do not impose an annual fee may offer more suitable dining and entertainment rewards. Wells Fargo Active Cash card provides a flat 2% rebate across all spending, without category limits or rotating categories. Or consider the Chase Sapphire Preferred(r) Card if travel is your thing – with its generous 3% hotel and rental car booking rates as well as numerous valuable perks such as no foreign transaction fees and no annual fees it could be an ideal solution.
3% cash back on grocery stores
Capital One SavorOne stands out as one of the premier no-fee cards for dining, entertainment and grocery spending. Offering 3% cash back in these categories can bring substantial rewards when ordering takeout or movies – including seeing live performances by favorite bands! Plus it gives solid returns for everyday purchases too.
Not all purchases qualify for bonus categories when using credit cards; for instance, purchases at gas stations or convenience stores won’t earn the higher-than-average cash back rate on this card. Warehouse clubs, discount stores and superstores like Walmart and Target don’t qualify either; however, you will earn 3% cash back on dining and entertainment expenditures, including fast-food joints as well as Michelin star hot spots.
Even though the 3% cash back on entertainment may seem modest, it still represents a generous offer. This includes video and music streaming services, pro sporting event tickets and cultural events (such as ballet performances, theater productions or museum exhibits) in addition to tourist attractions like amusement parks, zoos and aquariums.
If you want to familiarize yourself with how bonus categories work on this card, the handy tool helps identify eligible merchants and determine whether your purchases qualify for bonuses. Furthermore, this card provides various other benefits, including extended warranty coverage, travel accident insurance and auto rental collision damage waiver protection.
This card requires good to excellent credit to qualify, with its $0 annual fee providing welcome relief compared to reward cards that charge steep annual fees for high-value rewards. Furthermore, its 0% introductory APR allows cardholders who carry balances throughout the year timeframe an opportunity to work towards paying down debt without incurring significant interest charges.
1% cash back on all other purchases
If you’re in search of a card that offers rewards beyond dining and entertainment, the SavorOne card could be ideal. You’ll receive 3% back when using this card to purchase entertainment services like streaming video services or groceries (excluding superstores like Walmart and Target) while earning just 1% on all other purchases.
No other card provides as comprehensive reward coverage in one card with no annual fee – an ideal alternative to having multiple travel cards that charge high annual fees and requires you to juggle different bonus categories separately.
The SavorOne provides an attractive $200 welcome bonus that’s easier to meet than many competing cards, and features a 0% introductory APR on purchases and balance transfers for 15 months – something other cards don’t provide.
If you’re concerned that a hard credit pull will negatively impact your score, it may be wise to first review eligibility requirements of any potential card before applying. Usually excellent to exceptional credit is needed in order to qualify (ie: score of 670+). In addition, Capital One limits how many Capital One cards may be open at once so having more than one may prevent you from qualifying.
Capital One Dining and Entertainment can also be accessed with this card, providing exclusive reservations, culinary experiences and access to presale concert tickets. In addition, this is one of few cards offering 24-hour concierge services; use it to help make restaurant reservations, book flights and hotel rooms and buy gift cards!
No foreign transaction fees
Many cards charge foreign transaction fees, which can quickly add up over time. That’s why it’s wise to select a credit card with no such fees if you travel frequently; the Capital One SavorOne provides such a perk, helping to save money when purchasing overseas purchases. Plus, its concierge service helps book restaurants and book tickets for events – something not usually provided with no-fee credit cards!
The SavorOne offers competitive 3% cash back for dining and entertainment expenses, but there may be better cards out there that provide non-bonused spending rewards (1% cash back for all other purchases doesn’t really stand out either). To see how it stacks up against competing cards such as Blue Cash Preferred, please read our comprehensive review of it.
Apart from offering an attractive rewards rate, this card also offers extended warranty and travel accident insurance as additional perks. In addition, you have the flexibility of redeeming your rewards at a set date or threshold – or choose statement credit redemption at anytime during your lifetime!
Capital One SavorOne requires good credit, defined as having an FICO score of at least 660 to qualify. You can check your FICO score free on WalletHub to see what’s necessary to qualify, while also offering an attractive intro APR offer and waived balance transfer fees (Rates & Fees) during its first 15 months of membership – making this card ideal for saving in interest when paying down large purchases or transferring existing balances – important features when looking for new credit cards; just keep in mind you need an APR that allows for longer-term debt payments without accrual – when selecting new cards it’s best.
No annual fee
While most credit cards with high rewards rates in dining, entertainment and groceries charge an annual fee, SavorOne doesn’t – potentially saving you some money over time if you plan to carry an outstanding balance.
Your dining, popular streaming services and grocery store purchases (excluding superstores like Walmart and Target) will earn an unlimited 3% cash back. In addition, gas stations, transit (taxi/rideshare, parking, tolls, trains and buses), gas station fuel purchases and all other purchases will all offer you up to 2% cash back; plus all other purchases 1% cash back.
A rewards credit card can be an ideal choice for anyone who prefers an easy and straightforward method to accrue rewards without incurring spending caps or rotating bonus categories. However, to qualify you must possess excellent or good credit with at least 700 FICO score (to give yourself the highest chance of approval).
To maximize the rewards from Capital One SavorOne cards, it’s important to pay your bill in full each month and avoid interest charges. Be mindful of its 3% intro APR period on purchases and balance transfers before it transitions to its regular 5% APR starting year two.
The SavorOne stands out among top cards by offering competitive 4% cash back rates in restaurants and entertainment, as well as its 3% rates at grocery stores and 1% everywhere else. Therefore, it makes a good choice for anyone spending heavily in these categories while looking to avoid an annual fee; but for less serious shoppers there may be better cards tailored specifically to these areas – see our top cards for restaurant/grocery spending, or travel rewards credit cards for options.