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Foodies rejoice! Whether you’re a grocery store devotee, restaurant connoisseur or fast food fanatic, the Capital One® SavorOne℠ Cash Rewards card is the card for you.
With the Capital One SavorOne Cash Rewards card you can earn an incredible unlimited 3% back on dining and entertainment — from high-end restaurants to drive-thrus — and 2% back on groceries. On everything else you still get 1%. This is an incredibly rewarding card for food purchases and, better still, it has no annual fee. If a chunk of your budget goes on food-related purchases, this might be the card for you!
Capital One has been rewarding food-lovers for a while now. In March 2017 they launched their Premier Dining Rewards card which later became the Capital One Savor card. The sister card to the Savor, the SavorOne card offers a one-time $150 cash bonus after you spend just $500 on purchases within the first 3 months from opening the account. The average American spends over $200 a month on groceries alone so most people won’t have any trouble reaching the spending goal within the first few months to get the $150 cash bonus.
The SavorOne card has no annual fee, and outside of dining and grocery spending, it pays 1% cash back on all other purchases.
Capital One has tried to create a card that rewards people for doing what the love. According to a 2017 Mastercard SpendingPulse report, in the past three years, restaurant spending has grown 20% and grocery spending has grown 5%. Now there’s a credit card that offers you a great return the dollars you were already spending.
The rewards structure for the Capital One SavorOne card is simple and no hassle. There are no rotating categories and no need to sign-up for rewards. All cash back rewards are accrued automatically, your cash back won’t expire for the life of the account and there are no limits to how much you can earn. If you find that you spend heavily each month on dining and groceries this card is a great choice, especially if paired with another high-rewards card on another high-spend category.
A bonus for any international travelers is that this credit card doesn’t charge foreign transaction fees. This is a great feature of all the Capital One credit cards. A lot of cards do charge foreign transaction fees and this is usually around 3% of every transaction you make while you’re abroad, that can really stack up which makes this an excellent element of this card.
Enjoy an introductory 0% APR offer on purchases and balance transfers for 15 months, then it’s a variable APR of 14.74% to 24.74% depending on your credit score. Balance transfers are charged a 3% fee on any amount transferred within the promotional period. Given the combination of the relatively short introductory offer terms plus a balance transfer fee, this is not the card to get if you’re looking to consolidate debt. But if you dine out often and want cash-back rewards, this card will deliver.
Who should get this card
If you dine out a lot, spend heavily on entertainment, and want unlimited and easy to redeem cash-back rewards, you can benefit from this card.
Fees and APR
- Pay no annual fee.
- Pay no foreign transaction fee on purchases made outside the U.S.
- Enjoy an introductory 15 month 0% APR offer on purchases. After that, it’s a variable 14.74% – 24.74% based on creditworthiness.
- There’s a 0% intro APR balance transfer offer for the first 15 months, subject to a 3% fee. After that, a standard variable rate of 14.74% – 24.74% applies.
- Late payments won’t affect your APR, but you may be subject to a penalty charge of up to $38.
Extras, perks and using points
The card itself can be used with contactless technology — the same tap-and-go payment function that mobile wallets have.
Rewards can be redeemed in any amount and never expire as long as your account is open and in good standing. To redeem for cash back or a statement credit, log into your account and select Redeem Rewards.
This card has a ton of security features from Capital One like automatic security alerts, easy card locking and unlocking in case you misplace your wallet, and CreditWise® which monitors your credit without hurting your score.
How this card compares
If your spending is concentrated on grocery stores rather than dining out and you spend heavily on gas, you may find the no-annual-fee Blue Cash Everyday Card from American Express better for you. The Blue Cash Everyday card offers cash-back earnings with a rate of 3% at U.S. supermarkets (on up to $6,000 in annual spending, then 1%), 2% at U.S. gas stations and select U.S. department stores and 1% on all other spending.
Despite the $95 annual fee, the Blue Cash Preferred Card from American Express is a must-have card in the wallet of any big grocery shopper. The 6% cash-back reward at U.S. supermarkets up to $6,000 in spending each year, then 1%, is the most lucrative available in this category.
If you hit the spending cap — which a lot of big grocery spenders probably will — you’ll earn $360 back with the Blue Cash Preferred vs. $180 back with the Blue Cash Everyday. Even with the Preferred’s annual fee, you’ll still come out ahead.
The Chase Sapphire Preferred Card‘s hefty sign-up bonus, boosted redemption value when using the Chase portal, and a generous rewards program make this card a stand-out among travel rewards cards offering big value for minimal cost. Since Chase Ultimate Rewards points can be used for everything from flights to lodging to cruises, this also makes it one of the most flexible redemption programs among travel cards. The card pays 2x the rewards on travel and dining, and those points take on 25% more value when used to book travel through the Chase portal.
The Capital One Quicksilver Cash Rewards Credit Card is simple. And that’s a good thing.
The card’s rewards program is structured so you don’t have to think about whether this is the month that gas station spending pays more or that it’s time to take advantage of warehouse club spending. There’s also no annual fee, so you don’t have to do the math to know how much you’ll have to spend to make the card worth it.