You might be the kind of person who enjoys spending the weekend seeing new shows and checking out restaurants, or you might be someone who prefers ordering pizza and watching the new season of Stranger Things. Whatever your style, the Capital One SavorOne Cash Rewards Credit Card will earn you good cash-back rates for no annual fee.
The SavorOne’s claim to fame is its perks on dining, entertainment, streaming services and grocery stores. What’s more, the introductory APR will afford you some breathing room on purchases and balance transfers, making this a great card if you’re looking to ride out the economic turbulence as the Fed raises interest rates to contain inflation. The welcome bonus adds some extra incentive, as well.
The catch? You’ll need good to excellent credit — so, a credit score of at least 670 — to get approved.
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With the Capital One SavorOne, you earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Target and Walmart). For other purchases, you’ll earn the typical 1%.
Dining and grocery stores are a large part of most budgets, and 3% is a strong cash back rate for any card or rewards category. Entertainment is a bit more of a niche category, but could be lucrative for the right cardholder. Entertainment purchases include movie theaters, sports promoters (professional and semi-professional live events), amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls and bowling alleys.
Meanwhile, streaming services include Netflix, Hulu and Disney+, but exclude others like Prime Video and audiobook subscriptions. See our picks for the best streaming services credit cards for a wider selection.
There are a few other opportunities to earn boosted rewards rates, but they are less robust than these categories and come with stipulations. We’ll walk you through these in our “other perks and rewards” section.
For the welcome bonus, you can earn a $200 cash bonus when you spend at least $500 in the first three months of having the account. This is one of the best values on the market for a welcome bonus when compared to its spending threshold, although higher nominal bonuses do exist among our picks for the best welcome bonuses.
The primary rewards redemption method with the Capital One SavorOne is for cash back in the form of a statement credit or check. A unique feature is that you can schedule regular cash-back redemptions ahead of time through your online account, either on a certain day each calendar year or every time you reach a certain rewards threshold. There is no minimum threshold for redeeming your rewards.
You can also redeem your rewards for previous purchases or gift cards, but redemption values may vary when doing so. But your SavorOne rewards never expire as long as your account remains open.
If the cash-back options aren’t right for you, you can use your rewards when you check out with PayPal or at Amazon.com — you just have to have your card connected to the respective account.
This card can suit multiple needs simultaneously, as it also comes with a 0% introductory APR for 15 months, on both purchases and balance transfers (15.24% to 25.24% variable APR thereafter). Thus, you can use this card to collect rewards and finance a large purchase at the same time — or transfer a balance from a high interest credit card to save on interest and tackle debt more quickly.
Other perks and rewards
Capital One offers its own branded portals where you can book restaurant and travel experiences: Capital One Dining and Capital One Travel. Features and partners are still being rolled out with both programs, so options may be more limited than those of the competing American Express and Chase portals — but you can earn additional cash back if you can make use of its current offerings.
If you do book a hotel or rental car through Capital One Travel, you’ll earn 5% cash back (terms apply). The same does not go for Capital One Dining, however. While you can book unique experiences through the platform, you won’t earn additional cash back.
And true to this card’s entertainment and dining focus, you can also earn extra cash back — a whopping 8% — on Capital One Entertainment purchases and tickets purchased through Vivid Seats. Vivid Seats sells tickets to a wide variety of shows, including concerts, festivals, theater performances and more.
Like all other Capital One credit cards, the Capital One SavorOne Cash Rewards Credit Card comes with no foreign transaction fees.
Capital One Savor Cash Rewards Credit Card
The Capital One Savor Cash Rewards Credit Card* is an upgrade from the SavorOne — while you’re on the hook for a $95 annual fee, you’ll net higher rewards rates and a better welcome bonus.
With this card you earn 4% on dining, entertainment and popular streaming services, 3% on grocery stores (excluding superstores like Target and Walmart) and 1% on all other purchases. So if you’re a big spender on nightlife and food, this card may offer a better value. You will get the opportunity to earn 8% cash back on entertainment bookings made through Capital One Entertainment, in addition to the extra cash-back opportunities that come with the SavorOne. It doesn’t offer an introductory APR, though.
U.S. Bank Altitude® Go Visa Signature® Card
The U.S. Bank Altitude® Go Visa Signature® Card offers the most similar spread of benefits to the SavorOne while maintaining no annual fee.
You earn 4x points on dining, takeout and restaurant delivery, 2x points on grocery stores, grocery delivery, streaming services, gas stations and EV charging stations and 1x point on all other eligible purchases. Points are generally worth 1 cent each when redeeming for a statement credit. You can also take advantage of the 0% introductory APR for 12 billing cycles for purchases and balance transfers (then a 15.74% to 24.74% variable APR). The welcome bonus offers 20,000 bonus points if you spend $1,000 in eligible purchases in the first 90 days from account opening.
How do you choose the right credit card for restaurants?
With so many excellent restaurant and dining credit cards on the market, it can be difficult to choose the best one for you. The fact is that many of the cards on our list offer comparable dining benefits, which means you may need to look a little closer at the rest of the terms and rewards. Pay attention to whether there’s a limit on the dining rewards you can earn and see what combination of rewards and terms best fits your lifestyle and spending habits.
Can you earn rewards at bars with restaurant and dining cards?
Each credit card comes with different rules about what you can and cannot earn elevated rewards for. For example, some issuers only offer elevated rewards on money spent at actual restaurants, while others include takeout and delivery. Although bars are typically classified as restaurants, there may be a few instances where they are not.
Also, some cards may allow you to earn points at bars if they are also dining establishments, while others may allow elevated rewards at all establishments regardless of whether they serve food.
How do cash-back credit cards work?
Cash-back credit cards offer cardholders rewards on their spending in the form of statement credits or cash. A statement credit is a reduction in the amount due to the credit card company on your monthly bill. Note that rewards are not always available the month you earn them — they are usually applied to your balance by credit card issuers after one or two billing cycles.
The redemption process for cash-back credit cards is either automatic or very simple. Some cards automatically apply cash rewards to your statement balance each month. Others require you to log in and redeem available rewards points for statement credits. Most points don’t expire, but you will lose them if you close the account before redeeming them.
CNET reviews credit cards by exhaustively comparing them across set criteria developed for each major category, including cash-back, welcome bonus, travel rewards and balance transfer. We take into consideration the typical spending behavior of a range of consumer profiles — with the understanding that everyone’s financial situation is different — and the designated function of a card.
*All information about the Capital One Savor Cash Rewards Credit Card has been collected independently by CNET and has not been reviewed by the issuer.
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