Capital One SavorOne Rewards for Good Credit Card Review: up to 3% Cash Back
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Capital One SavorOne Rewards for Good Credit Card Review
Capital One SavorOne Rewards for Good Credit card review: You don't need excellent credit to earn 3% cash back on dining, groceries, entertainment, and streaming services
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Bottom line: The Capital One SavorOne Cash Rewards for Good Credit doesn't offer an introductory bonus. like some of the other Capital One Savor cards, but it's a good option for earning up to 3% cash back in popular categories. You don't need stellar credit to qualify, but if your credit is already excellent, there are better cash-back cards to consider.
- 3% cash back earning in popular everyday spending categories like dining, entertainment, eligible streaming services, and grocery stores (excluding superstores like Walmart and Target)
- No annual fee or foreign transaction fees
- You can qualify with less than excellent credit
- No welcome bonus or 0% APR offer
- High APR if you need to carry a balance
- The information related to the SavorOne Rewards for Good Credit from Capital One has been collected by Business Insider and has not been reviewed by the issuer.
- You can earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®)
- Earn 1% on all other purchases
- No foreign transaction fees on purchases outside of the United States.
- Extended warranty on eligible items purchased with your card
- Automatic travel accident insurance when you use your credit card to purchase your fare
- No annual fee
Review: Is the Capital One SavorOne for Good Credit the best credit card for you?
Capital One's slate of SavorOne Rewards Credit Cards can be confusing at first glance. There's the Capital One Savor Cash Rewards Credit Card , the Capital One SavorOne Cash Rewards Credit Card, the Capital One SavorOne Student Cash Rewards Credit Card, and finally the Capital One SavorOne Cash Rewards for Good Credit.
All of them help you do more savoring — pun intended — with unlimited cash back on dining out and a number of other areas in life worth saving like going to a movie, spending the day at an amusement park, or even cooking a big meal at home.
Here, we're going to analyze the ups and downs of the Capital One SavorOne Cash Rewards for Good Credit. The "good credit" disclaimer is especially important, though. Before you think about applying for the card, you should understand Capital One's definition of good credit versus excellent credit.
According to the bank, good credit entails:
- No bankruptcy declarations or loan defaults in the past five years
- No payments that have been more than 30 days late on a credit card or a loan in the past year
If you're responsible with your finances, you should be able to check off those requirements for good credit easily. For excellent credit, you need to have:
- No bankruptcy declarations or loan defaults — ever, not just the past five years
- No payments more than 60 days late in the past year
- A loan or credit card for the past three years with a minimum credit line of $5,000
Both the Capital One Savor Cash Rewards Credit Card and the Capital One SavorOne Cash Rewards Credit Card are geared toward customers with excellent credit, and they come with welcome bonus offers that make them far more compelling than the good credit option.
Read more: Guide to the best Capital One credit cards
If your credit history is a bit more limited, the Capital One SavorOne Cash Rewards for Good Credit is worth a close look. You'll earn unlimited 3% cash back on dining, grocery stores, entertainment, and popular streaming services.
If you can't wait to get back to live sports events and chart-topping concerts, the Capital One SavorOne Cash Rewards for Good Credit comes with a big perk through January 31, 2023: 8% cash back on purchases at Vivid Seats. For everything else you buy, you'll earn a standard 1% cash back.
So, if you enjoy checking out new restaurants and refining your own culinary skills and you have less-than-excellent credit, this card can be a simple way to earn some extra cash back. Just make sure you aren't missing out on a bigger bonus opportunity from more lucrative cash back and no-annual-fee credit cards.
We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Comparison: SavorOne for Good Credit vs other Capital One cards
Capital One SavorOne Cash Rewards for Good Credit | Capital One SavorOne Cash Rewards Credit Card | Capital One Savor Cash Rewards Credit Card | |
Annual fee | |||
Rewards rate | 8% cash back on Vivid Seats purchases through January 31, 2023 3% cash back on dining, entertainment, and popular streaming services 3% cash back at grocery stores (excluding superstores like Walmart and Target) 1% back on all other purchases | 8% cash back on Vivid Seats purchases through January 31, 2023 5% cash back on hotels and rental cars booked through Capital One Travel 3% cash back on dining, entertainment, and popular streaming services 3% cash back at grocery stores (excluding superstores like Walmart and Target) 1% back on all other purchases | 8% cash back on Vivid Seats purchases through January 31, 2023 4% cash back on dining, entertainment, and popular streaming services 3% cash back at grocery stores (excluding superstores like Walmart and Target) 1% back on all other purchases |
Welcome bonus offer | Earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening | Earn a one-time $300 cash bonus once you spend $3,000 on purchases within 3 months | |
Card benefits | Extended warranty Travel accident insurance*** Travel assistance services Complimentary concierge service No foreign transaction fees | 0% intro APR on purchases and balance transfers for 15 months, then a 15.24% - 25.24% (Variable) APR Extended warranty Travel accident insurance*** Travel assistance services Complimentary concierge service No foreign transaction fees | Extended warranty Travel accident insurance*** Travel assistance services Complimentary concierge service No foreign transaction fees |
Review |
Capital One SavorOne for Good Credit vs other cash-back credit cards
Capital One SavorOne Cash Rewards for Good Credit | Chase Freedom Flex℠ | Blue Cash Everyday® Card from American Express | |
Annual fee | $0 (See Rates) | ||
Rewards rate | 8% cash back on Vivid Seats purchases through January 31, 2023 3% cash back on dining, entertainment, and popular streaming services 3% cash back at grocery stores (excluding superstores like Walmart and Target) 1% back on all other purchases | 5% cash back (5x points) on travel purchased through Ultimate Rewards 5% cash back (5x points) on up to $1,500 in purchases each quarter in rotating bonus categories when you activate 3% cash back (3x points) on dining and drugstore purchases 1% cash back (1x points) on everything else | 3% cash back at U.S. supermarkets* 2% cash back at U.S. gas stations 1% back on all other purchases |
Welcome bonus offer | $200 after spending $500 on purchases in the first three months from account opening | $200 statement credit after you spend $2,000 in purchases on your new card within the first 6 months | |
Card benefits | Extended warranty Travel accident insurance*** Travel assistance services Complimentary concierge service No foreign transaction fees | Car rental insurance (secondary in the US, primary otherwise) Trip cancellation/interruption insurance Purchase protection Extended warranty Travel and emergency assistance services 0% APR on purchases for the first 15 months, then a 15.74% - 24.49% Variable variable APR | Secondary car rental insurance Purchase protection Global Assist Hotline 0% APR on purchases for the first 15 months, then 15.49% - 25.49% Variable (See Rates) |
Review |
How to earn cash back with the SavorOne for Good Credit
The Capital One SavorOne Cash Rewards for Good Credit earns bonus cash back in popular categories, including a limited-time 8% cash back on Vivid Seats purchases through January 31, 2023. Cardholders also earn:
- 3% cash back on dining (includes eat-in and takeout purchases at restaurants, cafes, bars, lounges, fast-food chains, and bakeries)
- Grocery stores (includes most supermarkets and smaller grocers, meat locker, freezer, dairy product stores, and specialty markets, but does not include superstores like Target and Walmart or wholesale clubs like Costco)
- Entertainment (includes movie theaters, sports promoters, theatrical promoters, amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls, and bowling alleys)
- Popular streaming services (includes Netflix, Hulu, and Disney+, although some services, like Prime Video, AT&T TV, Verizon FIOS On Demand, audiobook subscription services, and fitness programming don't count)
All other purchases earn 1% cash back
Read more: Guide to the best credit cards for dining
How to use rewards from the SavorOne for Good Credit card
The Capital One SavorOne Cash Rewards for Good Credit comes with a straightforward reward redemption: Cash back in the form of a statement credit or a check. You can either get a statement credit to help pay off your bill, or you can get a check — and there's no minimum redemption amount. Your rewards never expire as long as your account is open and in good standing.
It's also possible to set up automatic redemptions at a specific time each year, or when you reach a certain threshold of cash back in your account ($25, $50, $100, $200, $500, or $1,500). You can also redeem rewards for gift cards or merchandise through Amazon or PayPal, but the redemption rate varies.
Read more: Guide to the best credit cards for groceries
To get an estimate of how much cash back you can earn, take a look at your previous spending — particularly on dining out at restaurants, grocery store purchases, and entertainment.
There's another redemption option if you also have a Capital One credit card that earns miles, like the Capital One Venture Rewards Credit Card or Capital One Venture X Rewards Credit Card. You can transfer rewards from your Capital One SavorOne Cash Rewards for Good Credit to your miles-earning account, but the transfers are only allowed one way (you can't transfer miles to your Savor account).
Benefits and features
The Capital One SavorOne Cash Rewards for Good Credit is fairly low-frills in terms of extra benefits. You won't find statement credits for a Global Entry or TSA PreCheck fee or room upgrades at luxury hotels. Still, there are some additional benefits to having this card in your wallet.
Extended warranty
When you use your Capital One SavorOne Cash Rewards for Good Credit to pay for a new purchase, you can receive extended warranty protection on eligible items.
No foreign transaction fees
Don't worry about the pesky 3% added on via some other credit cards. If you're traveling out of the country, using your card won't cost you more.
Read more: The best credit cards with no foreign transaction fees
Travel accident insurance
If you use your Capital One SavorOne Cash Rewards for Good Credit to purchase your fare, you'll qualify for extra travel accident coverage***. That can provide some extra peace of mind in the midst of all that can go wrong when leaving home.
Complimentary concierge service
Capital One SavorOne Cash Rewards for Good Credit cardholders get access to a complimentary 24-hour concierge service that can with things like dining reservations, hard-to-get event tickets, or travel bookings. The service is free, but cardholders have to pay for any third-party costs.
Access to VIP experiences
Cardholders can get pre-sale access to tickets to events like the iHeartRadio Music Festival, Taste America pop-up dinners, and other happenings on Capital One's full calendar.
$0 fraud liability
Any good credit card — the Capital One SavorOne Cash Rewards for Good Credit included — will offer you complete protection if someone steals your card and uses it to make unauthorized charges.
- 3% cash back earning in popular everyday spending categories like dining, entertainment, eligible streaming services, and grocery stores (excluding superstores like Walmart and Target)
- No annual fee or foreign transaction fees
- You can qualify with less than excellent credit
- No welcome bonus or 0% APR offer
- High APR if you need to carry a balance
- The information related to the SavorOne Rewards for Good Credit from Capital One has been collected by Business Insider and has not been reviewed by the issuer.
- You can earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®)
- Earn 1% on all other purchases
- No foreign transaction fees on purchases outside of the United States.
- Extended warranty on eligible items purchased with your card
- Automatic travel accident insurance when you use your credit card to purchase your fare
- No annual fee
Fees and costs
You won't need to worry much about additional fees and expenses for the Capital One SavorOne Cash Rewards for Good Credit as long as you make your payments in full each month.
Read more: Guide to the best starter credit cards
There are no foreign transaction fees, so it's a good card if you're planning on traveling outside the US. If you miss a payment, you'll face a late payment fee of $40, which is fairly standard for credit cards. The card's current APR is 26.99% (Variable), which is higher than the average APR for credit cards. However, regardless of the card you're using, it's wise to never carry a balance.
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