Capital One SavorOne Rewards for Good Credit card review: You don't need excellent credit to earn 3% cash back on dining, groceries, entertainment, and streaming services

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The SavorOne Rewards for Good Credit from Capital One doesn't offer an introductory bonus. like some of the other Capital One Savor cards, but it's a good option for earning up to 3% cash back in popular categories. You don't need stellar credit to qualify, but if your credit is already excellent, there are better cash-back cards to consider.

Review: Is the Capital One SavorOne for Good Credit the best credit card for you?

Capital One's slate of SavorOne Rewards Credit Cards can be confusing at first glance. There's the Capital One Savor Cash Rewards Credit Card, the Capital One SavorOne Cash Rewards Credit Card, the Capital One SavorOne Student Cash Rewards Credit Card, and finally the SavorOne Rewards for Good Credit from Capital One.

All of them help you do more savoring — pun intended — with unlimited cash back on dining out and a number of other areas in life worth saving like going to a movie, spending the day at an amusement park, or even cooking a big meal at home. 

Here, we're going to analyze the ups and downs of the SavorOne Rewards for Good Credit from Capital One. The "good credit" disclaimer is especially important, though. Before you think about applying for the card, you should understand Capital One's definition of good credit versus excellent credit. 

According to the bank, good credit entails:

• No bankruptcy declarations or loan defaults in the past five years
• No payments that have been more than 30 days late on a credit card or a loan in the past year

If you're responsible with your finances, you should be able to check off those requirements for good credit easily. For excellent credit, you need to have:

• No bankruptcy declarations or loan defaults — ever, not just the past five years 
• No payments more than 60 days late in the past year
• A loan or credit card for the past three years with a minimum credit line of $5,000

Both the Capital One Savor Cash Rewards Credit Card and the Capital One SavorOne Cash Rewards Credit Card are geared toward customers with excellent credit, and they come with welcome bonus offers that make them far more compelling than the good credit option. 

If your credit history is a bit more limited, the SavorOne Rewards for Good Credit from Capital One is worth a close look. You'll earn unlimited 3% cash back on dining, grocery stores, entertainment, and popular streaming services. In addition, you can earn 5% cash back on hotels and car rentals booked through Capital One Travel.

If you can't wait to get back to live sports events and chart-topping concerts, the SavorOne Rewards for Good Credit from Capital One comes with a big perk through January 31, 2023: 8% cash back on purchases at Vivid Seats. For everything else you buy, you'll earn a standard 1% cash back. 

So, if you enjoy checking out new restaurants and refining your own culinary skills and you have less-than-excellent credit, this card can be a simple way to earn some extra cash back. Just make sure you aren't missing out on a bigger bonus opportunity from more lucrative cash back and no-annual-fee credit cards. 

We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

How to earn cash back with the SavorOne for Good Credit

The SavorOne Rewards for Good Credit from Capital One earns bonus cash back in popular categories, including a limited-time 8% cash back on Vivid Seats purchases through January 31, 2023. Cardholders also earn:

• 5% cash back on hotels and car rentals booked through Capital One Travel
• 3% cash back on dining (includes eat-in and takeout purchases at restaurants, cafes, bars, lounges, fast-food chains, and bakeries)
• Grocery stores (includes most supermarkets and smaller grocers, meat locker, freezer, dairy product stores, and specialty markets, but does not include superstores like Target and Walmart or wholesale clubs like Costco)
• Entertainment (includes movie theaters, sports promoters, theatrical promoters, amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls, and bowling alleys) 
• Popular streaming services (includes Netflix, Hulu, and Disney+, although some services, like Prime Video, AT&T TV, Verizon FIOS On Demand, audiobook subscription services, and fitness programming don't count)

All other purchases earn 1% cash back.

How to use rewards from the SavorOne for Good Credit card

The SavorOne Rewards for Good Credit from Capital One comes with a straightforward reward redemption: Cash back in the form of a statement credit or a check. You can either get a statement credit to help pay off your bill, or you can get a check — and there's no minimum redemption amount. Your rewards never expire as long as your account is open and in good standing.

It's also possible to set up automatic redemptions at a specific time each year, or when you reach a certain threshold of cash back in your account ($25, $50, $100, $200, $500, or $1,500). You can also redeem rewards for gift cards or merchandise through Amazon or PayPal, but the redemption rate varies.

To get an estimate of how much cash back you can earn, take a look at your previous spending — particularly on dining out at restaurants, grocery store purchases, and entertainment. 

There's another redemption option if you also have a Capital One credit card that earns miles, like the Capital One Venture Rewards Credit Card or Capital One Venture X Rewards Credit Card. You can transfer rewards from your SavorOne Rewards for Good Credit from Capital One to your miles-earning account, but the transfers are only allowed one way (you can't transfer miles to your Savor account).

SavorOne for Good Credit benefits and features

The SavorOne Rewards for Good Credit from Capital One is fairly low-frills in terms of extra benefits. You won't find statement credits for a Global Entry or TSA PreCheck fee or room upgrades at luxury hotels. Still, there are some additional benefits to having this card in your wallet.

Extended warranty

When you use your SavorOne Rewards for Good Credit from Capital One to pay for a new purchase, you can receive extended warranty protection on eligible items.

No foreign transaction fees

Don't worry about the pesky 3% added on via some other credit cards. If you're traveling out of the country, using your card won't cost you more.

Travel accident insurance

If you use your SavorOne Rewards for Good Credit from Capital One to purchase your fare, you'll qualify for extra travel accident coverage***. That can provide some extra peace of mind in the midst of all that can go wrong when leaving home.

Complimentary concierge service

SavorOne Rewards for Good Credit from Capital One cardholders get access to a complimentary 24-hour concierge service that can with things like dining reservations, hard-to-get event tickets, or travel bookings. The service is free, but cardholders have to pay for any third-party costs.

Capital One Entertainment

Cardholders receive access to the Capital One Entertainment platform, a new feature that offers the ability to book exclusive experiences, sporting events, concert and theater tickets, and festivals. Cardholders can redeem rewards for tickets (and some events will only let you use rewards to pay), or in some cases, use cash or a combination of rewards and cash.

Capital One Travel

Capital One Travel is now available to most Capital One cardholders, including those with the SavorOne Rewards for Good Credit from Capital One. You can redeem rewards (or use your card) to book flights, hotels, and rental cars. Hotel and car rental purchases earn 5% cash back, and the portal offers useful features, including price prediction, price watch, and a price match guarantee.

Capital One Dining

If you dine out at upscale restaurants and need a hard-to-get reservation, Capital One Dining is a helpful tool. You can even add information to your profile that will help the restaurant give you better service, like dietary preferences and special events like birthdays.

Capital One Dining is currently only available in a handful of major cities, but if you live in a big metropolitan area this could be a useful feature.

$0 fraud liability

Any good credit card — the SavorOne Rewards for Good Credit from Capital One included — will offer you complete protection if someone steals your card and uses it to make unauthorized charges.

Fees and costs

You won't need to worry much about additional fees and expenses for the SavorOne Rewards for Good Credit from Capital One as long as you make your payments in full each month.

There are no foreign transaction fees, so it's a good card if you're planning on traveling outside the US. If you miss a payment, you'll face a late payment fee of $40, which is fairly standard for credit cards. The card's current APR is SavorOne Rewards for Good Credit from Capital One, which is higher than the average APR for credit cards. However, regardless of the card you're using, it's wise to never carry a balance.

Comparison: SavorOne for Good Credit vs other Capital One cards

Capital One SavorOne for Good Credit vs other cash-back credit cards

Capital One SavorOne for Good Credit frequently asked questions (FAQ)

What credit score do I need to get approved for the Capital One SavorOne for Good Credit?

As the card's name implies, you'll need at least a good credit score to be approved for the SavorOne Rewards for Good Credit from Capital One. While Capital One has its own definition of good credit (see introduction), if you're looking at your FICO score, it should be at least 670, or you should have a VantageScore of at least 700.

Is the Capital One SavorOne for Good Credit worth it?

If you wouldn't otherwise be approved for the regular Capital One Savor Cash Rewards Credit Card or Capital One SavorOne Cash Rewards Credit Card because your credit is on the lower side of good, the SavorOne Rewards for Good Credit from Capital One is worth considering. 

It's particularly lucrative if you spend a lot in the card's bonus categories. That said, you won't receive a welcome bonus with this card, so if your credit is higher, you'll do better with a different version.

Does the Capital One SavorOne for Good Credit come with an intro APR offer?

No, the SavorOne Rewards for Good Credit from Capital One doesn't come with an introductory 0% APR like some other Capital One cards do. For top options, check out our guide to the best 0% APR and low-interest credit cards.