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INSIDER SECRET: This card is an excellent pick if you don’t want to pay an annual fee and want a card with no foreign transaction fees.
If you are looking for a credit card that’s both versatile and flexible, the Capital One® SavorOne® Cash Rewards Credit Card will give you both, and more, with no annual fee.
Most luxury credit cards lure you in with enticing perks, but there is no catch with the Capital One SavorOne card. In addition to earning 3% cash back on dining and entertainment, 2% back at grocery stores and 1% back on all other purchases, you will also receive a $150 bonus when you spend $500 on purchases within three months of opening the account.
Another advantage of the Capital One SavorOne is no foreign transaction fees on purchases made outside of the US, which is uncommon for cards with no annual fee.
Here’s our full Capital One SavorOne Credit Card review.
Capital One SavorOne Credit Card Review
Apply Here: Capital One SavorOne Cash Rewards Credit Card
Few credit cards provide a good cash sign-up bonus with no annual fee, but the Capital One SavorOne makes it as easy as possible. With the Capital One SavorOne, you can earn a $150 cash bonus when you spend $500 on purchases within the first three months of opening your account.
Essentially, by spending the minimum, you will effectively get 30% back—a sum larger than most average cash-back credit cards with an initial cash bonus offer. The $500 bonus will appear as a statement credit within two months of meeting the spending requirement.
How to Earn Cash Back With the Capital One SavorOne Credit Card
With the Capital One SavorOne, you’ll earn:
- 3% cash back on dining (like restaurants, cafes, bars, lounges, fast-food chains and bakeries) and entertainment (including movie theaters, sports promoters (professional and semi-professional live events), theatrical promoters, amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls or bowling alleys)
- 2% cash back at grocery stores (supermarkets, meat lockers, freezers, dairy product stores and specialty markets; superstores like Walmart and Target are excluded)
- 1% cash back on all other purchases
These rates are higher than your average cash-back card, so it’s hard to beat the Capital One SavorOne card, especially when you factor in that it has no annual fee. Another perk to the cash back benefits is that you do not have to choose a category to earn your savings in. Simply live how you normally do and get rewarded for it!
How to Redeem Capital One SavorOne Cash Back
When it comes time to use your rewards, you can redeem cash back (as a statement credit or check) for any amount you choose, at any time. There’s no minimum redemption amount like some other cards. Or you can set up an automatic redemption when your cash back reaches a certain threshold, for example, $25.
The cash back you earn never expires as long as you are an active cardholder.
Capital One SavorOne Card Benefits
Travel Accident Insurance
You’ll get automatic insurance for a covered loss at no extra charge when pay your entire fare with the Capital One SavorOne card.
Purchase an eligible item with your Capital One SavorOne and you’ll get additional warranty protection at no charge.
Is the Capital One SavorOne Card Worth the Annual Fee?
The Capital One SavorOne card has no annual fee, so it won’t cost you a thing to keep for the long term.
Does the Capital One SavorOne Card Charge Foreign Transaction Fees?
Who Is Eligible for the Capital One SavorOne Card?
Capital One will only allow a person to have up to two personal Capital One cards, so you will not be approved for this card if you already have two cards (like the Capital One® Venture® Rewards Credit Card and Capital One® Quicksilver® Cash Rewards Credit Card).
Additionally, Capital One will only approve one new credit card application every six months (personal or business). As with many banks, Capital One is known to be strict if you’ve opened a lot of credit cards (from any issuer) recently.
Customer Support for the Capital One SavorOne Credit Card
Capital One customer support is available 24/7, so if you ever have an issue with your card, just give them a call.
Similar Cards to the Capital One SavorOne Credit Card
The Capital One SavorOne card has a big brother – the Capital One® Savor® Cash Rewards Credit Card. It comes with a $300 cash bonus after spending $3,000 on purchases in the first three months of account opening, and the $95 annual fee is waived the first year. You’ll also earn an improved 4% cash back on dining and entertainment, plus the same 2% cash back on groceries and 1% cash back on everything else. Here’s our review of the Capital One Savor to help you decide which version of the card is best for you.
If you’re looking for a credit card without an annual fee that still offers good rewards for your spending, the Capital One® VentureOne® Rewards Credit Card is another great option. It currently offers a welcome bonus of 20,000 Capital One Venture miles after spending $1,000 on purchases in the first three months of account opening. Capital One Venture miles are worth 1 cent apiece toward travel purchases, so the bonus is worth $200 in travel. This card offers 1.25 miles per dollar spent on all purchases and 10 miles per dollar spent on hotels when booked and paid through hotels.com/venture through January 2020.
Another great card option is the Chase Freedom®. This card offers a $150 bonus (15,000 Chase Ultimate Rewards points) after spending $500 on purchases within the first three months of account opening. With the Chase Freedom, you’ll earn 5% cash back (5x Chase Ultimate Rewards points per dollar) on up to $1,500 in combined purchases in categories which rotate each quarter when you activate the bonus, and 1% cash back (1x Chase Ultimate Rewards point per dollar on everything else). Here’s our Chase Freedom review to learn more.
Prefer to keep things super simple? The Chase Freedom Unlimited® offers 3% cash back on all purchases for the first year, on up to $20,000 in spending, then 1.5% back. If you spend the maximum of $20,000 in the first year to earn 3% back, you’ll end up with an extra $600 (60,000 Chase Ultimate Rewards points) in your account. You can read our Chase Freedom Unlimited review for more details.
Between 3% cash back on dining and entertainment, 2% back at grocery stores and a $150 bonus with a low minimum spending requirement, the benefits of holding a Capital One SavorOne Cash Rewards Credit Card are tangible. And because it has no annual fee and no foreign transaction fees, it’s a no-brainer to keep forever and use when you travel abroad.
Check out these additional Capital One reviews to learn more: