I love my Capital One SavorOne credit card. It earns great rewards on spending on dining and entertainment. Although not a “travel rewards” credit card, it is actually a great option for a travel credit card as those categories tend to make up a good portion of your spending while on holiday and you get straight cash back you can redeem how you like. Plus, you can use it when not on vacation. Read on for a complete review of the Capital One SavorOne card.
*Disclosure: This post contains referral links. That means if you go on to sign up for the card and are approved, I may earn a bonus reward. There is no additional cost to you. Also, please note that I am not a finance professional and none of this article should be interpreted as or considered financial advice. For more information, please consult my Disclosure Policy.
Overview – Capital One SavorOne is a Great Card for Frequent Travelers or Digital Nomads
I love my SavorOne card. A few years back when I needed a US bank account, I at the advice of a friend opened a Capital One 360 account.
The 360 checking is a great account for US citizens that travel a lot or live abroad and maintain a US mailing address by the way. You can see my review of it here or check it out and possibly earn an account opening bonus here.
I also wanted to get a credit card to have to buy things online like flights and hotel reservations as well as for emergencies, while also building my credit a bit as I have been abroad since 2011. I was pretty impressed with CapitalOne’s offerings.
I first got the QuickSilver Card, which offers a flat 1.5% cash back on all purchases. You can read my review of it here or see the details for applying here.
I liked it, but after the 0% APR entry rate finished, I decided to try the SavorOne Card, and I think it is an even better credit card for Americans abroad and frequent travelers. Read on to learn more about why.
Capital One Savor One – Breakdown
- Unlimited cash back rewards:
- 3% on dining and entertainment
- 2% on purchases at grocery stores
- 1% on everything else
- $0 annual fee
Savor One vs Savor
Capital One also has a Savor Rewards Card. It earns slightly better, with 4% rewards at restaurants. However, it has a $95 annual fee.
If you eat out enough and will use the card to cover that $95 fee with that extra percentage point (it earns the same on groceries and other purchases), it might be worth looking into, but I like having the zero annual fee personally.
For some quick math, you’d have to spend over $9,500 year on dining and entertainment to cover the cost of the $95 annual fee.
$9,500 x .04=$380
$9,500 x .03=$285
Want to learn more or apply for the SavorOne? See how to here.
What I like About My SavorOne Card
It’s Easy to Earn
Let’s be honest, eating out, entertainment, and groceries probably account for the majority of our discretionary income for all of us.
In my case, I live abroad, so most of my monthly spending that isn’t rent and utilities is, well, eating out and groceries, so the SavorOne is perfect for me. I have a feeling lots of people whether they live abroad or not likely spend similarly.
But even when traveling, that spending on eating out is likely to be a large part of your expenses on holiday. But on top of that, the SavorOne’s rewards are easier to use than many travel cards.
The Rewards are Cash Back
This is why I would recommend this as a good alternative or perhaps complement to a traditional travel rewards card. The rewards can be redeemed to pay back the balance of the card (the easiest in my opinion, and what I always do).
However, they can also be used to buy things on Amazon.com, used to pay for a recent purchase, sent to your own or someone else’s Capital One Accounts, or just paid out as a check.
I have a Bank of America travel rewards card as well, and it earns extra bonuses on flights and hotels, but those points can also only be redeemed as credits on those purchases, and they can’t be used until I reach a certain threshold.
That’s why I’d argue the SavorOne is a nice card for frequent travelers as well as a terrific card for those that live abroad.
But what about my miles?
So, yes there are lots of cards, even Capital One’s own Venture Card that might get you better rewards strictly for travel, but they give you miles, not straight cash back. They can only be redeemed for hotels or flights.
Instead of having to worry about accumulating miles, reaching a certain threshold to make it worthwhile, or only being able to use my rewards on certain travel related expenses, I can redeem my SavorOne rewards at any time, on anything, including travel.
If you want to get a card to use specifically for buying flights and hotel reservations, go for it, but in the long run, I think you’ll build up better and more rewards with your spending out and about on eating out, getting a snack, getting groceries, going to the movies, or just having a coffee, whether in your own hometown or on vacation.
Then, you can just redeem all your cash back on whatever you like.
No Foreign Transaction Fees
This is one of the reasons I’m a big fan of all my Capital One cards. Many of the other cash back and rewards cards I’ve looked into that are not expressly travel rewards charge fees for transactions abroad.
For someone like me that lives abroad for much of the year or travels frequently, that adds up quickly and diminishes the benefit of using the card while traveling, so the no foreign transaction fees is a big factor in making this such a great credit card for travelers and expats.
Great Introductory Offers
These are the introductory offers I got and that are still available as of this publication in April 2020, but they may be subject to change. You can see the latest offers and learn more about applying here.
15 Months 0% APR
When I signed up, I got 15 months 0% APR. For someone who gets paid into a foreign bank account, this was really useful because I could wait to do one big transfer to pay it off rather while also building up my rewards cash back to help.
If you set aside the money you’re spending in a savings account or something else where your money can grow, you can actually get a nice little return in addition to the 3%. Of course, you have to be careful, and actually in my case, I lost out a bit on foreign exchange rates as the Colombian peso declined compared to the dollar.
However, if you can be disciplined and make sure you don’t overextend yourself and can pay the complete balance once the 15 months is up, or if you need to make a big purchase now that you can pay off interest free over time, that 15 months is a really nice offer and more than you’ll find just about anywhere else.
$150 Cash Back Bonus
In addition to the 15 months no interest, you can also earn a free $150 bonus if you spend $500 within the first 3 months of opening your account.
Again, you should make sure your disciplined and not spend more than you have or overextend yourself just for the bonus, but if try to use the card for everyday expenses, you’ll likely hit that number, and in addition to the bonuses, you’ll be earning on dining and groceries, you’ll have a cool $150 you can use to pay down the balance.
Want to learn more or apply for the SavorOne? See how to here.
In my opinion, there aren’t any major drawbacks for the SavorOne card for travelers or nomads.
For me spending much of the year abroad and getting paid into a foreign account, after the 0% intro period is up, it will tougher for me to use it since it’s just not worth sending small monthly wires. You do of course also need a US based checking account to pay the card. By the way, if you’re looking for one of those, the Capital One 360 is a great option. Read my review here or learn more and even get a sign up bonus here.
You also will only get the 1% on things like fights and hotels. So this may in fact be a better complement to a card that gets bonuses for those, and you can use it to book and use the SavorOne for dining and get the best of both worlds.
Those are pretty small drawbacks though, and unless you’re traveling monthly, your spending on dining, entertainment, and groceries is likely to earn you more in the long run, and you’ll have the versatility to use it as cash back on any part of the balance, not just travel related expenses.
So, in conclusion, I’d highly recommend the SavorOne credit card to people who live abroad, spend lots of time abroad, or travel frequently. It earns great rewards on things that already likely make up a good portion of your spending, has a great introductory offer, has no foreign transaction fees, and lets you use your cash back rewards in a variety of ways.
There you have it, a complete review of the Capital One SavorOne Credit Card and why it’s a great one for travelers and expats. I hope you found it informative and if you do get the card, you like it as much as I do.
Cheers and Happy Exploring!
Want to learn more or get your own SavorOne card?
You can see the full details of the card’s terms and apply for it at CapitalOne.com.
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