Capital One® SavorOne® Cash Rewards Credit Card Review

If fine dining and a variety of entertainment options are high priorities for your lifestyle, you’ll be delighted with the benefits offered by the Capital One® SavorOne® Cash Rewards Credit Card.

With unlimited cash back on dining and entertainment, it’s a food lover’s dream that also provides “insider” access to premium experiences of dining, entertainment, sports and more.

Purchases at restaurants, cafes, bars, lounges, fast-food chains and bakeries earn the card’s highest cash rewards, with grocery stores coming in at a close second – but all purchases earn cash-back rewards.

The card issuer, Capital One®, grew from a small start-up to one of the 10 largest banks in America and 100 largest companies in the country, as rated by Fortune magazine.

The Essentials of the Capital One® SavorOne® Cash Rewards Credit Card

  • APR: 0% introductory APR the first 15 months your account is open. After that, your APR will be 15.49%, 21.49% or 25.49%, based on your creditworthiness. (The APR varies with the market, based on the prime rate.) The Annual Percentage Rate for cash advances is 25.49%.
  • Annual Fee: None or $0
  • Rewards:
    • Unlimited 3% cash back on dining and entertainment
    • 2% cash back at grocery stores
    • 1% cash back on all other purchases
  • Introductory bonus offer:Get a one-time $150 cash bonus once you spend $500 on purchases within the first 3 months of the opening of the account.

What’s Interesting About the Capital One® SavorOne®

Cash Rewards Credit Card

Beyond food and entertainment, be sure to check out these other perks and special features:

  • Limited Fees:Specifically, no foreign transaction fees outside of the United States
  • Complimentary concierge service:Experience personalized assistance in dining, entertainment and travel 24 hours a day, 365 days a year.
  • Warranty: Get additional warranty protection at no charge on eligible items purchased with your credit card.
  • Replacement: Was your credit card lost or stolen? You can get an emergency replacement card and cash advance.
  • Travel accident insurance: Receive automatic insurance for a covered loss at no extra charge when you use your credit card to purchase your fare.
  • Purchase notifications:Instant purchase notifications allow you to stay on top of your spending habits.
  • Wikibuy: Receive access to the Wikibuy online shopping tool which scans merchants to help you get the best price.
  • Paribus: Discover even more potential savings on previous online purchases. Paribus helps you get your money back, effortlessly.
  • Tickets: Get presale ticket access exclusive to cardholders for many events.

Things to Consider

If dining out and entertainment aren’t part of your normal routine or your budget doesn’t allow much room for them, this card isn’t going to earn you big rewards. You’d be better off looking at cards that earn cash rewards from a broader range of purchases.

Frequent travelers stand to earn a lot of rewards, especially if trips include dining out on a regular basis. There are many perks specific to traveling, including no foreign transaction fees, travel assistance, and travel accident insurance.

Keep in mind that Capital One specifically recommends that your credit level is in the “excellent” range when you submit an application to qualify for this card.

How to Get the Most from This Card

Although you can put any purchases on the Capital One® SavorOne® Cash Rewards Credit Card and get at least 1% cash back, it gives you the most benefit when you use it specifically for dining out and entertainment. In light of this, consider using it for all your food purchases, not just restaurants, since grocery purchases reward you with almost as much cash back as restaurants.
Qualifying ticket purchases for high-cash rewards include an extensive list of venues. You’ll be rewarded for admission purchased at movie theaters, sporting events (both professional and semi-professional), theatrical performances, amusement parks, tourist attractions, aquariums, zoos and more.

Paying off the balance monthly would, of course, enable you to forgo interest payments each month and maximize the cash you earn. The low end of the APRs being offered by Capital One® SavorOne® Cash Rewards Credit Card cardholders is pretty good – it’s actually lower than the national average of slightly over 17% – but the higher end of the APRs for this card is steep.

Other Card Options That Might Interest You

How about 4% cash back on dining and entertainment instead of 3% cash back? Capital One offers a similarly named card called Capital One® Savor® Cash Rewards Credit Card that does precisely that, plus a one-time $300 cash bonus after you spend $3,000 during the first 3 months after opening a new account.

You’ll still earn 2% cash back at grocery stores and 1% cash back on other purchases. The annual fee is $0 for the first year, and $95 after that. The benefits of the Capital One® SavorOne® apply here too, with an interesting addition: a partnership with Vivid Seats, which is an online ticket marketplace where fans buy/sell tickets to sports, concerts, and theater events. Currently, Savor® Rewards cardholders earn 8% cashback on Vivid Seats ticket purchases through May 2020.

Maybe staying home and enjoying meals you prepare fits your lifestyle more closely. Consider a card that rewards you handsomely for groceries you purchase and watching entertainment at home: the Blue Cash Preferred® Card from American Express may be right for you.

Earning 6% cash back at U.S. supermarkets and 6% cash back on select streaming subscriptionsbon up to $6,000 per year in purchases (then 1%) will encourage you to stay home. There’s also 3% cash back at U.S. gas stations and on transit. The introductory offer includes $250 cash back after spending $1,000 within the first 3 months (cash back for this $250 is in the form of a statement credit.)

The Final Word

Enjoy the pleasure of fine dining and the best in entertainment with the Capital One® SavorOne®, knowing you’ll earn some substantial cash rewards. You can even score tickets to events that other people aren’t able to access.

The $0 annual fee makes this card even more appealing. Don’t overlook the fact that if you’re a frequent traveler, your comfort and safety are pretty much secured with all the generous travel-related benefits. Purchases on everyday groceries earn you a better reward with this card than other typical 1% back cards, with Capital One® SavorOne® featuring a 2% grocery cash-back offer.

Stephen Altrogge

Personal Finance Contributor

Stephen Altrogge is a business and marketing writer from Ashland, Ohio. His writing has been published in Fast Company, Zapier, Entrepreneur, Forbes, and a host of other publications. He has a degree in Management Information Systems from Indiana University of Pennsylvania. Before launching his own business, he worked as an auditor at a bank.