Link: Apply now for the Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne Card is the card I was most recently approved for. While the card has been on my radar for quite some time, the recent perks added to this card really sealed the deal for me. While you can read a full review of the card, below I wanted to share eight reasons that I think the Capital One SavorOne is worth it.
In no particular order…
No annual fee
First and foremost, the Capital One SavorOne has no annual fee — not the first year, and not any year after that. Who wouldn’t want to pick up a card that has no annual fee while still offering valuable perks?
I also think it’s worth emphasizing that there’s general value to picking up cards with no annual fee. Keeping cards in the long run can help your credit score, by keeping your credit utilization low, and increasing your average age of accounts. If I’m going to hold onto cards in the long run, I prefer that they’re no annual fee ones.
$200 welcome bonus
The Capital One SavorOne has a welcome bonus of $200 cash back after spending $1,000 within the first three months. That’s a solid bonus for a no annual fee personal card, though I’d only really view this as the icing on the cake, as the primary reason you want this card is because of the long term value.
No foreign transaction fees
The Capital One SavorOne has no foreign transaction fees, which is pretty noteworthy for a no annual fee card. I know many people want a no annual fee card that also won’t impose foreign transaction fees for purchases abroad, so this is a great card to consider for that purpose.
This is an area where Capital One leads the industry, as the issuer doesn’t have foreign transaction fees on any of its cards.
Great 3% cash back bonus categories
The Capital One SavorOne has some compelling bonus categories for a no annual fee cash back card. The card earns the following, all with no caps on earning:
- 3% cash back on dining
- 3% cash back at grocery stores
- 3% cash back on entertainment
- 3% cash back with select popular streaming services
- 1% cash back on all other purchases
This is among the best no annual fee cards in terms of the return on dining, grocery stores, and more.
Complimentary Uber One membership
This is where the Capital One SavorOne gets especially lucrative for me. Thanks to a partnership between Capital One and Uber, those with the card can receive a complimentary Uber One membership that’s valid through November 14, 2024. This ordinarily retails for $9.99 per month or $99.99 per year, so that’s a great value for a no annual fee card.
As someone who orders food through Uber Eats way too often, this is something I’d otherwise pay for. It offers the following perks with Uber and Uber Eats:
- 5% off eligible rides and orders of food, groceries, alcohol, and more
- Being matched with top-rated drivers
- An Uber One Promise, whereby on eligible deliveries you’ll get $5 in Uber Cash if the latest arrival estimate (shown after the order is placed) is wrong
- Unlimited $0 delivery fees on eligible food orders over $15 and grocery orders over $30
- Access to premium member support, special offers and promotions, and invite-only experiences
10% cash back with Uber & Uber Eats
The partnership between Capital One and Uber doesn’t just offer a complimentary Uber One membership, but it offers another perk that I’m even more excited about. Through November 14, 2024, the Capital One SavorOne offers 10% cash back on purchases with Uber and Uber Eats.
This is a game changer for me, as this is way better than the rewards I get on these purchases with any other card. Uber Eats is a significant household expense for us (especially as new parents who are going out to eat a lot less), so this alone was enough motivation for me to pick up the card.
Convert rewards into Capital One miles
While the Capital One SavorOne is officially a cash back card, this is even a great card for points enthusiasts. That’s because if you have the card in conjunction with a Capital One Venture Card, like the Capital One Venture X Rewards Credit Card (review), then all rewards earned on the card be converted into miles.
Specifically, each cent of cash back earned with the card can be converted into one Capital One Venture mile, opening up all kinds of travel opportunities. Personally I value Capital One miles at 1.7 cents each, so to me that increases the value of the points significantly.
This means the 3% cash back bonus categories can really earn you 3x Venture miles, and the 10% cash back with Uber and Uber Eats can really earn you 10x Venture miles.
Amazing Capital One Venture X complement
The Capital One Venture X has become incredibly popular over the past year, especially with those who are into collecting points.
While the Venture X has a $395 annual fee, in reality the card shouldn’t cost anyone nearly that much, given the $300 annual travel credit and 10,000 anniversary bonus miles. On top of that the card offers a Priority Pass membership, access to Capital One Lounges, access to Plaza Premium Lounges, great authorized user perks, cell phone protection, rental car coverage, and more.
The Capital One SavorOne is such a fantastic complement to this card:
- It allows you to build up a portfolio of cards to maximizing your Capital One miles; this card could help you earn 3x Venture miles on dining, grocery stores, entertainment, and select streaming services
- The Uber One and 10% cash back perks are only offered on the Savor One, and not on the Venture X
The Capital One SavorOne is an incredible no annual fee card that’s better than ever before. The card has long had 3% cash back bonus categories with no foreign transaction fees. What makes it even better now is that it has some phenomenal limited time Uber perks, including an Uber One membership, plus 10% cash back with Uber.
This is a fantastic complement to the Capital One Venture X, given that the card lets you pool your rewards, and turn cash back into valuable miles. The overall value proposition of the card was enough reason for me to apply, as the card offers tangible value to me, and will also help me with maintaining a great credit score.
Anyone else see value in the Capital One SavorOne?
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
I did the pre-approval process and it showed I would also get declined for the bonus like some other readers have mentioned. I got the venture x in April of this year. I'm going to wait until next year to see if I'm eligible.
You mention Uber Eats a lot, but why not use DoorDash with your DashPass from Chase Sapphire?
@ Al -- That's a great question. I use DoorDash as well, including the Sapphire Reserve DashPass benefit. However, I've always used Uber Eats more. I'm not sure why, it's probably just out of habit. With the 10% return on this card (which I convert into 10x Capital One miles), I also find this is probably more lucrative.
It's not really relevant to the post is probably why. This is a content marketing piece - Capital One pays a commission for sign-ups generated through the referral links here - and it's about the benefits of this particular card to entice you to sign up for it. I'm not saying this negatively, either, there's nothing wrong with running a business and they're not pushing a sub-optimal deal. This card is compelling, and 10x on...
It's not really relevant to the post is probably why. This is a content marketing piece - Capital One pays a commission for sign-ups generated through the referral links here - and it's about the benefits of this particular card to entice you to sign up for it. I'm not saying this negatively, either, there's nothing wrong with running a business and they're not pushing a sub-optimal deal. This card is compelling, and 10x on Uber Eats + Uber One on a card with no annual fee is a pretty fantastic benefit if you order a lot of delivery (I do).
Discounted DoorDash giftcards are very common.
But even multiple stacking, markups are still crazy.
I've never value any of these delivery credits more than 70% of it's value. Always laughed when blogs value Uber credits at 100%.
It depends on the individual. I can more or less guarantee that I'm going to spend more than the credits with Uber, so I personally value them at close to 100%. When deciding to keep a card or not, I tend to discount travel and uber credits by 10% because it's effectively a prepaid. But I don't go lower than that, because it's been years since I had any breakage on these. Now, dining credits...
It depends on the individual. I can more or less guarantee that I'm going to spend more than the credits with Uber, so I personally value them at close to 100%. When deciding to keep a card or not, I tend to discount travel and uber credits by 10% because it's effectively a prepaid. But I don't go lower than that, because it's been years since I had any breakage on these. Now, dining credits like the $10/mo on Amex Gold, I value at almost $0 because I don't really eat at the places it's good at, and I don't use Grubhub for delivery - so I only occasionally use credits at Shake Shack or a Grubhub pickup order here and there, but it's unused most months. It's all up to how you'll realistically use your credits, although none are worth 100% because you're prepaying an expense.