Capital One SavorOne Review: A No Annual Fee Card With Big Dining and Entertainment Rewards

For food and entertainment rewards, the Capital One SavorOne Cash Rewards Credit Card is a winner. It earns high cash back rates across popular categories that include dining, groceries, and entertainment (see rates and fees). New cardholders can also earn a large welcome bonus. See if it's the right card for you with our Capital One SavorOne review.

This credit card is a good fit for: Foodies and people who go out often to movies, sports, live music, or other types of entertainment. Consumers who want to pay off purchases over time or refinance credit card debt could also benefit from this card's 0% intro APR.

READ MORE: Best Credit Cards for Dining and Restaurants

Features and benefits

Don't be fooled by the long name -- the Capital One SavorOne Cash Rewards Credit Card is all about making your financial life easier. It earns cash back and has no annual fee, two important perks when you'd rather keep it simple with your credit card. Where it really shines is its bonuses, so those are the perfect place to start going over its benefits.

A big earner with lots of opportunities for bonus cash back

You probably won't have any trouble earning bonus cash back with this Capital One card. It starts you off with a $200 Cash Back bonus after you spend $500 in the first 3 months. That's usually as much as you can expect from a welcome bonus on a no annual fee card. Plus, you don't need to spend much to earn it.

But the main reason people love this card is the bonus categories. It earns 3% cash back in several areas where most consumers spend money every month:

• Dining
• Entertainment
• Popular streaming services
• Grocery stores

It also earns bonus cash back in a few more specific categories. Uber and Uber Eats is worth an impressive 10% back, plus this card covers an Uber One membership, through Nov. 14, 2024. You'll earn 5% on hotels and car rentals you book through Capital One Travel, and 8% on Capital One Entertainment purchases.

These aren't exactly everyday spending categories, but they could help you pick up some extra cash back. Capital One Travel, for what it's worth, is one of the better travel portals I've used. It's well-designed and it has a price matching and price drop protection feature (which got me an automatic travel credit after a flight).

RELATED: The Ascent's Cash Back Credit Cards Hub

A 0% intro APR to avoid those expensive interest charges

The one piece of credit card advice I give to absolutely everyone is to avoid interest charges at all costs. This can make or break your experience. Whenever someone has a credit card horror story, it usually involves paying a ton of interest.

Now, the best way to not get charged any interest is to pay your credit card in full every month. But if you can't do that, this Capital One card gives you an alternative: A 0% intro APR on purchases and balance transfers for 15 months. The go-to 19.99% - 29.99% (Variable) APR applies after the intro period ends. For balance transfers, there's an introductory balance transfer fee of 3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time.

So, if you need to pay off purchases over time, you can. Or if you have debt on other credit cards costing you a ton of interest, you could transfer them over to take advantage of the balance transfer offer.

I would never recommend carrying a balance just because you can. But if you need to, you're better off doing it on a card with a 0% intro APR, like this one.

Stay fee-free at home and while traveling abroad

As I've mentioned, this Capital One card has no annual fee. You never have to ask yourself if you're getting your money's worth -- one of the many benefits of paying $0 for your credit card.

Most cash back cards have no annual fee, to be fair. But many of them charge a foreign transaction fee, normally 3% on all international transactions. That can definitely kill the vibe of your vacation, or leave you with an unpleasant surprise when you get home.

This Capital One card has no foreign transaction fee, so it's a good choice for spring break in Cabo, summer in Portugal, and winter anywhere it's not freezing cold.

Complimentary protections for those worst-case scenarios

The best credit cards aren't just a way to pay for expenses. They also provide protection from things like fraud, purchases breaking down, and even travel issues.

Like every good credit card company, Capital One has $0 fraud liability for unauthorized charges. This card also includes several other great protections, including:

• Extended warranty coverage
• Purchase protection
• Baggage delay coverage
• Travel accident insurance

Drawbacks to know about

There isn't much to criticize about this card. The biggest downside is arguably how selective Capital One is about approvals (you'll find details about the suggested credit score further below). But there's one potential drawback to mention.

You could find higher rewards rates in individual spending categories

This card earns bonus cash back in several popular categories. But it's not the best card in any of those categories, at least in terms of the cash back rate.

If you spend a lot on going out to eat, there are cards that earn 4% back on dining. If you're more of the home-cooked meal type (or the frozen meal type), there are cards that earn as much as 6% back at U.S. supermarkets.

The appeal with this Capital One card is that it earns a high rate across multiple categories, and all for no annual fee. That's great if it fits your spending habits. On the other hand, if you mostly spend in just one or two of those categories, you may be able to find a card that will earn you more cash back in those areas.

You will need good to excellent credit to qualify for Capital One SavorOne Cash Rewards Credit Card -- a FICO® Score of at least 670 will give you a chance, but a score in the 700s will make it a lot easier for you to qualify. Capital One wants potential cardholders to have excellent credit, by which it means that you have:

• Held a credit card or loan for over three years, at a credit limit/amount over $5,000.
• Not paid a credit card, loan, or medical bill more than 60 days late over the past year.
• Never once declared bankruptcy.
• Never defaulted on a loan.

That said, Capital One stresses that these are only guidelines in its decision to award you the card. Other factors can and will be considered. If your credit score is well below the recommended guidelines, you may want to work on it first, or check out more credit card reviews to find a better fit for you.

Food and entertainment are some of your biggest monthly expenses. With its cash back rates, the Capital One SavorOne Cash Rewards Credit Card will be one of the best credit cards you can find. The combination of premium rewards and no annual fee is hard to beat.

RELATED: Best Capital One Credit Cards

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.