Capital One SavorOne Rewards Card Review

Who is the Capital One SavorOne Rewards Card for?

This card is excellent for those looking for a rewards centric credit card that rewards for all types of purchases. The Capital One SavorOne Rewards card offers one of the most competitive rewards programs. Further, this card offers a hefty welcome bonus which is greater than those offered by other cards. Also, the several perks and protections of this card make it a well-rounded credit card for any situation.

The rewards rate of this card is 3% cash back on dining, 2% on groceries, and 1% on all other purchases. This card can be really rewarding if you frequently dine out but can be just as rewarding if you make common purchases. The well-competent rewards rates ensure that you'll be receiving the most out of each of your purchases whether that be routine grocery shopping or the frequent run for essentials.

0% intro APR on purchases makes the Capital One SavorOne Rewards card the best fit for spreading out payments of your shopping. On top of avoiding interest payments, you will gain a nice amount of cashback depending on what the purchase is.

Cardholders can stay assured that they are receiving the most out of a credit card with a wide range of benefits and protections. Protections and benefits such as zero liability, concierge service, and no foreign transaction fees are included in this card.

The satisfying experience of owning this card comes at no annual cost. The extensive list of features of this card at $0 makes this a fantastic choice for those wanting benefits anywhere they shop.

Welcome Bonus

The Capital One SavorOne Rewards card offers a $150 bonus if you spend at least $500 within 3 months of opening your card. The $150 bonus is automatically given to you by applying it to your rewards balance within two billing cycles. The $150 bonus that this card provides is greater than what most comparable rewards cards provide.

Cash Back Rates

You will earn 3% cash back on dining and qualified entertainment purchases, 2% cash back on purchases made at grocery stores, and 1% cash back on all other purchases. Since everyday purchases are being rewarded by this card, you'll always be receiving cash back.

Purchases classified as dining include those at restaurants, fast-food chains, coffee shops, cafes, lounges, bakeries, and bars. Entertainment purchases made through a third-party site or by a vendor that does not categorize themselves under a qualifying entertainment merchandise category code will only earn 1% cash back. Grocery purchases made at gas stations, convenience stores, warehouse clubs, discount stores, and superstores will earn 1% cash back.

The cash back that you earn on this card never expires. As long as your account is not closed, your rewards will always be available to be taken advantage of. Further, there is no limit on the amount of rewards you can earn on purchases.

You can receive your cashback in the form of a statement credit or a check. Also, you can set up automatic redemption at specific intervals such as a set time each calendar year or when you meet a specific threshold like $100. Automatic redemption ensures that you'll never have to worry about missing out on cashing your rewards. You can also use your rewards to pay for purchases on Amazon.

0% Intro APR on Purchases

This card has a promotion of 0% introductory APR on purchases for 15 months. With this offer, you can finance big purchases if you don't have the necessary amount of cash on hand. You can pay at your own schedule without having to worry about incurring interest payments. 15 months is in line with what other introductory APR cards offer, making this a suitable choice for those looking to flexibly make purchases.

Benefits and Credits

No foreign transaction fee means you'll be able to use this card on your travels abroad. With currency conversion rates growing exponentially, no transaction fee can really help you use less money when away from home.

Get automatic insurance for a covered loss at no extra charge when you use your credit card to purchase your fare.

The complimentary concierge service of this card means that you can receive personalized assistance in dining, entertainment, and travel. With this service available 24 hours a day, 365 days a year, you will always be able to contact this service to find the best spots to dine and relax.

This card not only rewards you on your purchases but also finds you the best deals. With Wikibuy, you will receive the best price on items as it scans thousands of merchants across a variety of products. Similarly, the Paribus feature finds potential savings on your previous online purchases and gets you money back. 

Experiences are enhanced with multiple deals and discounts. For example, you can receive access to VIP experiences, discounts, and on-site perks at game events. Furthermore, easily get tickets to some of the biggest concerts and music festivals and get access to perks like VIP packages and on-site cardholder lounges. Also, enjoy dining on the next level with access to intimate dinners, curated cuisine, and unique chef collaborations. The many ways that this card is able to deepen your experiences such as in dining and game day events, is unprecedented.

Protections

This card provides warranty protection at no additional cost. Warranty protection is provided on eligible items that are bought with this credit card. With this feature, you can rest assured knowing your purchases are backed by a great service.

In the event that your card is stolen or lost, you can request an emergency replacement card and a cash advance. This is a crucial feature that should be met before considering any credit card as issues can happen anytime.

This card offers a variety of security features to ensure that your card isn't used without your authorization. With instant purchase notifications, you will always be on top of the spending done on your card. In addition to the ability to manually monitor your account for suspicious activity, Capital One actively oversees the safety of your card. You will get notified via text, email, or phone if Capital One notices potential suspicious transactions on your account. If you do notice any unauthorized activity, however, you can lock your card instantly in the Capital One Mobile app. This is great even if your card has been misplaced as it can give you peace of mind knowing that your card can't be used without your permission. If an authorized purchase does happen, you will not be held responsible with Capital One's zero liability guarantee.

You will immediately receive a notification if Capital One detects a potential mistake or unexpected charges. This is a great protective measure as duplicate purchases or a sudden recurring bill increase can be easily managed.

With the Eno service of this card, you can pay for online purchases without having to reveal your credit card number. With no credit card number revealed when shopping online, the chances of your information being illegally used are slim to none.

With the CreditWise feature of this card, you will receive alerts for when your TransUnion or Experian credit report changes. This way, you will be on top of your credit score and will be able to actively manage it according to your goals.

Savor vs. SavorOne

Both of these cards, offered by Capital One, reward today's avid foody, but there are several distinct differences between the two. First of all, the SavorOne card has the perk of the introductory APR, which the Savor card does not have. However, the Savor card tries to cover the difference with 4% cash back on dining and entertainment, as opposed to 3% cash back in the same category as the SavorOne card. Furthermore, both cards offer bonuses to cardholders, but the SavorOne card gives $150 when you spend $500 in the first 3 months, whilst the Savor card gives $300 after spending $3,000 in the first 3 months.

On the fee side, the Savor card charges a $95 annual fee, while the SavorOne is free. Furthermore, although they both offer very similar VIP experiences, the Savor card edges out the SavorOne card, offering 8% cash back on concert tickets. But, this is not to say that you won't need the money to buy tickets in the first place. Thus, the Savor card is very much that card that rewards spending more than the SavorOne, which focuses on boosting you with lower interest.

Conclusion

While the name of the Capital One SavorOne Rewards card may imply that it's mainly for dining, this card's benefits say otherwise. The rewards rates allow cardholders to receive a great amount of cash back on any item. The wide range of security features and perks that this card provides make it a fantastic option to use online and in-person. In all, this card should be greatly considered by individuals seeking to get more out of a rewards card as it comes at no annual cost.