If you’re searching for a cashback credit card, you may have encountered two popular options: Chase Freedom Unlimited and Capital One SavorOne Rewards. Both cards are appealing for different reasons, offering competitive cashback rewards and benefits tailored to specific spending habits. In this article, we’ll do an in-depth comparison of the two, helping you determine which card fits your lifestyle best. This comparison will explore cashback rewards, fees, APR, extra perks, and more.
Overview of Chase Freedom Unlimited and Capital One SavorOne
Chase Freedom Unlimited
The Chase Freedom Unlimited card is known for its simplicity and flexibility. With no annual fee and the ability to earn cashback on a wide range of purchases, it’s an excellent card for everyday use. It also offers a solid introductory APR period and works well for those who prefer a straightforward rewards program.
- Annual Fee: $0
- Cashback:
- 5% on travel booked through Chase Ultimate Rewards
- 3% on dining and drugstores
- 1.5% on all other purchases
- Introductory APR: 0% for 15 months on purchases and balance transfers, then a variable APR of 20.24%–28.99%
- Foreign Transaction Fee: 3%
Capital One SavorOne Rewards
The Capital One SavorOne card is geared toward those who enjoy dining, entertainment, and groceries. While it has no annual fee, it offers high cashback rates in categories related to these spending habits, making it a strong contender for those who frequently dine out or spend on entertainment.
- Annual Fee: $0
- Cashback:
- 3% on dining, entertainment, and streaming services
- 3% at grocery stores (excluding superstores like Walmart and Target)
- 1% on all other purchases
- Introductory APR: 0% for 15 months on purchases and balance transfers, then a variable APR of 19.99%–29.99%
- Foreign Transaction Fee: None
Cashback Rewards Comparison
The most significant difference between these two cards lies in their cashback structures and categories.
Chase Freedom Unlimited Cashback Breakdown
Chase Freedom Unlimited offers a more general approach to earning cashback:
- 5% on travel: If you book travel through the Chase Ultimate Rewards portal, you earn 5% cashback, making it ideal for occasional travelers.
- 3% on dining and drugstores: This card provides a solid 3% cashback on dining (including takeout and delivery) and drugstore purchases.
- 1.5% on everything else: This flat rate on all other purchases ensures you’re always earning cashback without needing to manage bonus categories.
Capital One SavorOne Cashback Breakdown
The SavorOne card focuses more heavily on dining and entertainment:
- 3% on dining, entertainment, and streaming: For those who enjoy eating out, attending concerts, or subscribing to popular streaming services, this card offers a generous 3% cashback.
- 3% at grocery stores: This excludes superstores like Walmart and Target, but it’s still a great feature for regular grocery shoppers.
- 1% on all other purchases: Similar to Chase Freedom Unlimited, all other purchases earn 1% cashback.
Which Card Wins on Cashback?
- For Dining and Entertainment: Capital One SavorOne takes the lead, offering 3% across dining, entertainment, and streaming services, compared to Chase Freedom Unlimited’s 3% on dining alone.
- For Travel: Chase Freedom Unlimited is the clear winner, with 5% on travel purchased through Chase’s portal.
- For Everyday Purchases: The 1.5% flat rate on all purchases with Chase Freedom Unlimited is a great option for those who want to earn decent rewards on a variety of expenses without thinking about bonus categories.
Sign-up Bonuses and Introductory Offers
Both cards offer enticing sign-up bonuses:
- Chase Freedom Unlimited: Earn a $200 bonus after spending $500 in the first three months.
- Capital One SavorOne: Earn a $200 cash bonus after spending $500 in the first three months.
Additionally, both cards provide 0% intro APR on purchases and balance transfers:
- Chase Freedom Unlimited: 0% APR for 15 months, then 20.24%–28.99% variable APR.
- Capital One SavorOne: 0% APR for 15 months, then 19.99%–29.99% variable APR.
Which Sign-Up Bonus Wins?
Both cards offer the same $200 bonus after spending $500, so the choice here will depend more on which card’s overall benefits align with your spending habits.
Fees: Annual, Foreign Transactions, and Balance Transfers
Annual Fee
Both cards are no-annual-fee options, making them accessible to a wide range of users.
Foreign Transaction Fees
One major advantage of the Capital One SavorOne card is its no foreign transaction fees, making it a better choice for international travelers. On the other hand, Chase Freedom Unlimited charges a 3% foreign transaction fee, which can add up quickly if you frequently travel abroad.
Balance Transfer Fees
- Chase Freedom Unlimited: There’s a balance transfer fee of 3% (or $5, whichever is greater) for the first 60 days, then it increases to 5%.
- Capital One SavorOne: Offers no special balance transfer deal, but has a similar fee structure after the promotional period.
APR and Interest Rates
Both cards offer competitive variable APRs, but your exact rate will depend on your creditworthiness:
- Chase Freedom Unlimited: 20.24%–28.99% variable APR after the 15-month 0% intro APR period.
- Capital One SavorOne: 19.99%–29.99% variable APR after the 15-month 0% intro APR period.
Additional Perks and Benefits
Chase Freedom Unlimited
Chase cardholders can benefit from Chase Ultimate Rewards, a versatile rewards program that lets you redeem points for travel, gift cards, or cashback. If you hold other Chase cards like Chase Sapphire Preferred or Chase Sapphire Reserve, you can combine points for more value, especially when booking travel through the Chase portal.
Capital One SavorOne
The SavorOne card is more straightforward in its rewards redemption, offering cash back that can be applied as a statement credit, direct deposit, or check. Capital One Travel also offers access to exclusive dining and entertainment experiences, which can be appealing to frequent diners or event-goers.
Which Card is Right for You?
- Choose Chase Freedom Unlimited if you want a versatile card with broad cashback categories, especially if you travel frequently or prefer a simple rewards structure without an annual fee. The introductory APR and integration with Chase Ultimate Rewards make it even more appealing for those who might upgrade to a more premium Chase card in the future.
- Choose Capital One SavorOne if your spending focuses on dining, entertainment, and groceries. It’s a better fit for those who frequently eat out or attend events and don’t want to worry about foreign transaction fees.
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FAQs
1. Can I have both Chase Freedom Unlimited and Capital One SavorOne?
Yes, you can hold both cards. Many users pair cards with different rewards categories to maximize cashback.
2. Which card is better for travel?
Chase Freedom Unlimited is better for travel due to its 5% cashback on travel booked through Chase Ultimate Rewards. However, Capital One SavorOne has no foreign transaction fees, making it ideal for international travel.
3. What is the difference between Chase Freedom Unlimited and Chase Freedom Flex?
Chase Freedom Flex offers rotating 5% categories, while Chase Freedom Unlimited provides a flat 1.5% cashback on all purchases, plus 3% on dining and drugstores and 5% on travel through Chase.
4. Does Capital One SavorOne offer travel rewards?
Capital One SavorOne focuses on dining and entertainment, with no specific travel rewards like Chase Freedom Unlimited’s travel benefits. However, it does offer no foreign transaction fees, which is a plus for international travelers.
5. Which card has a better sign-up bonus?
Both cards offer a similar sign-up bonus of $200 after spending $500 within the first three months, so the choice will depend on your long-term usage preferences.