SavorOne Rewards from Capital One

If you're looking for a cash back credit card, you might be considering the Capital One SavorOne Rewards credit card. But can you do better? While this credit card has no annual fee and doesn't charge any foreign transaction fees, it also has a middling average rate of return for your spending.

Here we take a closer look at this cash back credit card, and see how it measures up against its sister card, the Capital One Savor Rewards card, and 4 other alternative cash back credit cards that have better cash back earn rates.

• 6 Capital One SavorOne Rewards benefits
• 3 Capital One SavorOne Rewards drawbacks
• Capital One SavorOne vs. Capital One Savor Rewards
• Alternatives to the Capital One SavorOne Rewards credit card
• FAQ

6 Capital One SavorOne Rewards benefits

Here's what this credit card has to offer.

1. 3 Capital One SavorOne Rewards categories

The Capital One SavorOne Rewards credit card earns cash back in 3 spending categories:

• 3% cash back on dining and entertainment,
• 2% cash back at grocery stores, and
• 1% cash back on all other purchases.

Unfortunately, the 2% grocery store category excludes superstores such as Walmart and Target, so if you shop frequently at places like that, this card will only give you 1% cash back on those purchases.

Based on our typical $2,000 monthly spend, you'll earn $318 in annual rewards.

2. Cash back welcome bonus

You'll earn a $150 cash bonus after spending $500 on purchases in the first 3 months you have the credit card. That's a pretty sweet 40% cash back on that spending, just for using your card.

3. 0% APR on purchases for 15 months

If you're looking to make a big-ticket purchase and can't pay for it all at once, the Capital One SavorOne Rewards card is one avenue you can take. With 0% APR for 15 months, you can make that big purchase and pay it off over 15 months without spending a penny extra on interest payments.

4. No annual fee

Any cash back you earn with this credit card is all yours – there's no annual fee to worry about digging into your rewards. It's a little thing, but it's a nice thing.

5. No foreign transaction fees

If you make frequent purchases outside of the United States or in foreign currencies, most credit cards would charge you an additional 3% for those transactions.

Not so with this credit card...you'll keep that extra 3% right in your pocket.

6. 10 types of included insurance coverage

The Capital One SavorOne Rewards credit card comes with a generous insurance package, which includes:

3 Capital One SavorOne Rewards drawbacks

There are a few drawbacks you should know about as well.

1. No balance transfer offer

It seems like the days of easy-to-find 0% balance transfer offers are gone, and the Capital One SavorOne Rewards card is among the fallen. This credit card used to have a generous balance transfer offer, but that has since disappeared.

That said, you can still take advantage of the 0% APR on purchases for 15 months, and earn some cash back to boot.

2. Grocery cash back rate doesn't apply to superstores

2% cash back on groceries is great, but if you shop at superstores such as Walmart or Target, you're not going to be happy. Superstores are excluded from the 2% grocery cash back rate, and you'll only earn 1% on that spending.

3. 1% cash back on most purchases

Honestly, you can do better than 1% cash back on most of your purchases. This credit card is ok for its 2 bonus spending categories, but you'll probably want to get a no fee cash back credit card with a better flat rate for all your other spending.

Capital One SavorOne vs. Capital One Savor Rewards

Wondering how the stacks up against its sister card, the ? Let's take a look.

All in all, it's hard to see how an extra estimated 0.08% return on spending would make up for the $95 annual fee (unless you're a huge restaurant spender). Otherwise, these 2 credit cards are remarkably similar. Read our full review of the Capital One Savor credit card here.

Alternatives to the Capital One SavorOne Rewards credit card

Here's how the Capital One SavorOne Rewards card compares to some of our top cash back credit cards.

Here's how these 5 cash back credit cards stack up in terms of average rate of return.

What about you?

Do you have a Capital One SavorOne credit card?

Do you love it? Do you hate it?

Let us know in the comments.

FAQ

Is the Capital One SavorOne a good credit card?

The Capital One SavorOne is a middling no fee cash back credit card. It has an average rate of return around 1.32%, which is lower than several of our top cash back credit cards.

Does the Capital One SavorOne have foreign transaction fees?

It does not, so you will save the added 3% fee that most other credit cards charge for foreign transactions.

Is the Capital One SavorOne a Visa?

The Capital One Savor cards are Mastercards, not Visas.