Capital One SavorOne Cash Rewards Credit Card vs. Chase Freedom Unlimited
Key takeaways
- When it comes to earning cash back on popular spending categories, the Capital One SavorOne Cash Rewards Credit Card and Chase Freedom Unlimited® are strong choices.
- For those who spend heavily on outings and entertainment, the Capital One SavorOne Cash Rewards Credit Card could be a better long-term fit.
- The Chase Freedom Unlimited, on the other hand, has a stronger welcome bonus and rewards rate for miscellaneous spending.
- Before you make your decision, be sure to consider the long-term value of each card.
When it comes to earning cash back on popular spending categories like groceries, dining out and entertainment, there are plenty of choices out there in the credit card space. Often, choosing a cash back credit card comes down to the rewards structure that best suits your spending habits.
In this battle, we’re taking a look at the Capital One SavorOne Cash Rewards Credit Card and Chase Freedom Unlimited®. While the SavorOne will allow you to earn more cash back on groceries and entertainment-related purchases, the Freedom Unlimited focuses on offering a competitive flat rate on general purchases.
Here’s everything you need to know about what these rewards credit cards offer:
Main details
| Capital One SavorOne Cash Rewards | Chase Freedom Unlimited | |
|---|---|---|
| Rewards rate |
|
|
| Welcome bonus | Earn a $200 cash bonus after spending $500 within 3 months of account opening | Earn an extra 1.5% on top of your regular rewards rates on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. |
| Intro APR | 0% intro APR for the first 15 months on purchases and balance transfers (19.99% to 29.99% variable APR after). A 3 percent balance transfer fee applies on amounts transferred within the first 15 months at a promotional APR that Capital One may offer you at any other time. No fee for amounts transferred at the Transfer APR. | 0% intro APR for the first 15 months on purchases and balance transfers (20.49% to 29.24% variable APR after)A 3 percent ($5 minimum) balance transfer fee applies to all balance transfers made within the first 60 days of card ownership. After that, the fee increases to 5% (minimum $5) |
| Annual fee | $0 | $0 |
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View all cash back cardsCapital One SavorOne Cash Rewards vs. Chase Freedom Unlimited highlights
As you can see, both of these no-annual-fee cards offer competitive rewards rates in popular spending categories — especially dining. But which one is best for you depends on other areas of your budget and how you like to earn.
Chase Freedom Unlimited
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The Capital One SavorOne allows you to earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening, which is a solid welcome bonus that should be easy for cardholders to reach.
However, the Chase Freedom Unlimited wins this category because its welcome bonus has a higher earning potential of $300. The Chase Freedom Unlimited allows you to earn an extra 1.5% on top of your regular rewards rates on everything you buy in the first year of card ownership — although there’s a spending limit of $20,000. So for the first year, you’d earn:
- 6.5% on travel purchased through Chase Travel
- 4.5% on dining and drugstores
- 3% on all other purchases
Although you won’t earn your welcome bonus until the end of the year, you could still wind up netting a higher payout by $100 than you would with the SavorOne — but keep in mind that you’ll have to charge $20,000 to the card over the course of the year to do it. That would break down to around $1,667 a month.
Capital One SavorOne Cash Rewards
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The Chase Freedom Unlimited offers a significantly higher cash back rate on “everything else,” which are purchases that don’t qualify under any particular category (1.5 percent cash back compared to the SavorOne’s 1 percent). If you’re looking for a card to swipe everywhere you go, the Freedom Unlimited’s higher general rate makes it more lucrative.
The SavorOne, though, offers 3 percent cash back for dining, entertainment, popular streaming services and grocery store purchases (excluding Target and Walmart purchases), which are all pretty popular spending categories. While the Freedom Unlimited also offers 3 percent cash back on dining and even throws in 3 percent cash back at drugstores, it notably lacks a grocery-specific category and doesn’t give any cash back for entertainment-related purchases. Those who do a lot of category spending will have more boosted rewards rates to work with if they get the SavorOne.
It’s ultimately up to you, however, to decide which categories you’re most interested in, since these cards have differing rewards structures. Concert fanatics who see shows every month, for example, would do well with the SavorOne’s 8 percent cash back on shows booked through the Capital One Entertainment portal, as well as those who spend a lot on groceries.
On the other hand, consumers who do a variety of spending will reap solid rewards with the Freedom Unlimited’s 1.5 percent cash back on everyday purchases — and if they own additional eligible Chase cards that earn Ultimate Rewards points, they can combine and potentially boost their rewards value by 25 or 50 percent through the Chase Ultimate Rewards travel portal.
Tie
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Both Capital One SavorOne Cash Reward and Chase Freedom Unlimited don’t charge an annual fee, so potential cardholders can’t go wrong with either one.
Capital One SavorOne Cash Rewards
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Like all Capital One cards, the SavorOne doesn’t have any foreign transaction fees. The Freedom Unlimited, however, charges a 3 percent transaction fee for purchases made overseas or from foreign websites that involve a currency exchange.
If you travel or buy items from overseas frequently, the SavorOne is the better pick.
Which card earns the most?
Both Capital One SavorOne Cash Rewards and Chase Freedom Unlimited are great for people who are constantly on the move and enjoy a night out. However, they have categories that they pull ahead in that can help determine which card is better for you.
SavorOne Cash Rewards vs. Freedom Unlimited spending example
The cash back you’ll earn will depend on your lifestyle. If you lean more toward miscellaneous spending, your rewards will look different from those who spend a bit more on entertainment and frequent the grocery store more often.
Here’s how much you stand to earn on each card based on an entertainment-heavy spending profile:
| Spending category | Monthly spend | SavorOne cash back | Freedom Unlimited cash back |
|---|---|---|---|
| Dining | $400 | $12 | $12 |
| Groceries | $250 | $7.50 | $3.75 |
| Entertainment | $150 | $4.50 | $2.25 |
| Streaming | $50 | $1.50 | $0.75 |
| Travel (through the portal) | $200 | $10 | $10 |
| Drugstore | $75 | $0.75 | $2.25 |
| Misc purchases | $500 | $5 | $7.50 |
| Monthly cash back total | $41.25 | $38.50 | |
| Annual cash back total (1st year, including welcome bonus) | $695 | $754.50 | |
| Annual cash back total (2nd year and beyond) | $495 | $462 |
As you can see in this spending example, the Chase Freedom Unlimited comes out ahead in the first year thanks to its first-year welcome offer, but the SavorOne provides a bit more rewards in the long run. 292.5
Of course, if you spend a lot more on miscellaneous purchases and not as much in categories like entertainment or grocery spending, the Freedom Unlimited may provide more long-term value.
Why should you get the Capital One SavorOne Cash Rewards Credit Card?
The SavorOne Cash Rewards is worth it for anyone who does a lot of spending at the grocery store, out at restaurants, on entertainment-related purchases and on travel. Here’s a look at some additional SavorOne benefits that may increase its value for you:
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The SavorOne card comes with standard perks like extended warranty coverage, $0 fraud liability and concierge services. And in terms of travel perks, you can take advantage of free price drop protection for flights, as well as 24-hour travel assistance and travel accident insurance. Further, Capital One offers portals for Capital One Entertainment and Capital One Dining alongside their travel portal. The entertainment and dining portals can get you access to exclusive experiences. You also get:
- A six-month complimentary Enthusiast membership to The Cultivist
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You can redeem your cash back for:
- Statement credit
- Checks
- Gift cards
- PayPal purchases
- Amazon.com purchases
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You’ll need good to excellent credit (670 to 850) for this card.
Why should you get the Chase Freedom Unlimited card?
The Chase Freedom Unlimited is worth it for those interested in an all-purpose cash back credit card with specific rewards on dining and travel. And for those that already own a Chase Ultimate Rewards points-earning card, its value can only grow.
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Even for a no-annual-fee card, the Chase Freedom Unlimited boasts a decent list of card benefits, including:
- A complimentary three-month DashPass subscription when activated by December 31, 2024
- A complimentary three-month Instacart+ membership when enrolled by July 31, 2024
- Purchase protection
- Extended warranty coverage
- Trip cancellation and interruption insurance
- Access to the Chase Pay Yourself Back tool
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Chase Freedom Unlimited rewards can be redeemed in a few different ways:
- Cash back (statement credit or deposit)
- Gift cards
- Travel through the Chase Travel portal
- Amazon.com purchases
- Apple purchases
- Charitable contributions
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You’ll need good to excellent credit (670 to 850) to qualify for this card.
The bottom line
Whether the Capital One SavorOne or Chase Freedom Unlimited offers more value depends on your spending habits and lifestyle in general. Before you make your decision, be sure to consider the long-term value of each card — and check out Bankrate’s list of the best cash back credit cards for this year to see if another option better suits your needs.
