Is This The Best Cash Back Credit Card Available Today? No Annual Fee

by Daniel | Last Updated September 7th, 2023

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So if you’re looking for one of the best no annual fee cash back credit card then both the Capital One Savor One credit card and the Chase Freedom Unlimited credit card are in my opinion are two of the best no annual fee cash back credit cards available today. 

And one of the best features with both of these cards is that you as soon as you spend just $500 on either card within the first 3 months of opening the account you will receive a $200 cash bonus.

But which card is the best out of the two card?
Well, let’s jump straight in the the article and compare these cards side by side and see which card comes out on top.

https://youtu.be/RnbdbjU9DGY

Benefits and Cash Back Offers 

So let’s start by looking at what some of the benefits and cash back earning options with the Capital One Savor One credit card.

10% Cash Back

This really is an amazing deal, as I can’t think of any other cash back credit card that is currently on the market that is offering such a high cash back offer.

So if you live in a large city or don’t have a car this is a fantastic offer that gives you the ability to save quite a bit of money if you do happen to use Uber or Uber Eats on a regular basis. 

Along with this there is also complimentary Uber One membership which usually costs $9.99 per month.
This provides you with unlimited free deliveries, up to 10% off eligible Uber Eats purchases, member pricing on top rated Uber drivers and access to special offers and promotions that are run by Uber.

So the fact that you can earn 10% cash back, receive free deliveries and get up to 10% off Uber Eats purchases defiantly makes this one of the best no annual fee cash back credit cards available today.

Now depending on when you watch this video just note that this deal will be running until November 14, 2024.

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8% Cash Back

Another top earning category with this card is the ability to earn 8% cash back on Capital One Entertainment purchases. 

And this provides access to a whole variety of different sports events, dining experiences and music festivals. 

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5% Cash Back

Then with the next earning category is the ability is to earn unlimited 5% cash back on any hotel or car rentals that are booked through Capital One Travel.

And having access to Capital One Travel actually comes with a few nice perks.
For example, there is price drop protection on flights.
So if you book a flight and the price drops any time within 10 days, you will receive up to $50 in travel credit to cover the difference.

Also if you are able to find a better price within 24 hours of making any booking  through Capital One Travel, you will receive a travel credit for the difference. 

So it actually provides you with a little more confidence when booking hotels or car rentals.

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3% Cash Back

Then there is unlimited 3% cash back on dining, entertainment, eligible streaming services and at grocery stores.

1% Cash Back

And finally all other purchases receive 1% cash back.

So for a credit card that has no annual fee this card is a fantastic option.
You can literally save money on pretty much every purchase you make which is a nice feeling to have.

And like I mentioned before, once you have met the $500 spend requirement within the first 3 months of opening the account, you will receive a $200 Cash Bonus.

Also meeting this spend requirement shouldn’t be to difficult, all you need to do is spend about $5.60 a day over the first 3 months of card ownership and you will quality for the $200 cash bonus.

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So now let’s take a look at what the Chase Freedom Unlimited card has to offer, and see if it can compare.

Now although this is not as much as the Capital One Savor One credit card is offering, it’s worth considering how and where you will earn the majority of your cash back rewards from.
Specifically if you don’t use Uber at all or if you don’t think you will utilize the 8% cash back offer for Capital One Entertainment purchases.
if this is the case, then the Case Freedom Unlimited card actually offers a little bit more value, which you will see later in the review.

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5% Cash Back

Then from here it is possible to earn 5% cash back on any travel that is purchases through Chase Ultimate Rewards.

And one thing I like about this is the fact that it is not limited to just hotel and car rental purchases like the Capital One Savor One credit card is.

With the Chase Freedom Unlimited card It is actually possible to earn 5% cash back on all travel purchases such as flights, cruises, hotels, car rentals and more.
So if you travel fair amount, you should be able to save even more money with the Chase Freedom Unlimited card.

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3% Cash Back

From here it is then possible to earn 3% cash back at restaurants, which includes take out and delivery services.
There is also the ability to earn 3% cash back on drug store purchases.

Now this is slightly different to what the Capital One Savor Card is offering.
With that card you receive 3% cash back from dining, entertainment, eligible streaming services and at grocery stores, which in my opinion is a better offer as it covers a wider option of categories to choose from.

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1.5% Cash Back

Then all other purchases that are made on the card will earn you 1.5% cash back. 

So any purchases that don’t quality for higher cash back offers will actually earn you 50% more cash back than what the Capital One Savor One card offers on its lowest cash back offering which is just 1% cash back.

But to receive the most value, you really need to consider where you spend your money and what benefits you will actually use with each card.

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Now one thing that the Chase Freedom Unlimited card offers that the Capital One Savor One card doesn’t is a couple of partner benefits.

These include a complimentary 3 month Instacart+ membership.
This provides you with reduced service fees and unlimited free deliveries on eligible orders.
There is also a $10 statement credit that is provided to you each quarter when you make an eligible Instacart purchase.

And Instacart+ is a pretty handy benefit to have, it allows you to order items from a whole range of different shops such as grocery stores, chemists and clothing stores, and in some cases you can receive your order within the hour.

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Then finally there is a complimentary 3 month DashPass membership.
This also provides you with reduced services fees and free delivery on eligible orders.

So the Chase Freedom Unlimited card does offer just that little bit more in terms of benefits than the Capital One Savor One card does.

What Insurance Coverage And Card Protection Do You Get?

So now let’s take a look at category that is sometimes overlooked which is what each card offers in terms of insurance coverage and card protection.

And this is always something worth considering when choosing any credit card, as it can potentially save you a lot of money if anything happens to go wrong.

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So both cards offer protection against unauthorized spending that is made on your card if it happens to be lost or stolen.
With the Chase Freedom Unlimited card it is referred to as Zero Liability.
This card also provides you with 24/7 fraud monitoring, and if anything does go wrong Chase will actually call, text or email you if they see an unusually activity on your card. 

Then with the Capital One Savor One card it is referred to as $0 Fraud Liability which also offers protection against unauthorized spending.
There is also a similar Security Alerts program that is provided with this card, and if there is any unusual activity on your account Capital One will either call, text or email you to let you know.

Another useful feature offered by Capital One is Card Lock which gives you the ability to lock your card through the Capital One Mobile App if it is misplaced lost or stolen. 

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Now with the Capital One Savor One card there are no Foreign transaction fees which is super handy if you do travel overseas.
However, with the Chase Freedom Unlimited card there is a 3% charge for each foreign transaction, which means this card is not a great  choice for traveling overseas with.

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Both cards offer slightly different extended warranty protection.
With the Chase Freedom Unlimited card you can receive one additional year of coverage on any US warranties that are 3 years or less.
Then with the Capital One Savor One card the extended warranty provides you with up to 2 years of additional warranty on warranties that are 2 years or less.

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Both cards also offer a form of travel insurance.
With the Chase Freedom Unlimited card it is referred to as Trip Cancellation/Interruption Insurance, and this covers you or up to $1,500 per person and a total of $6,000 per trip.
With the Capital One Savor One card it is referred to as Travel Accident Insurance and this covers up to $1,500 for trip cancellation. 

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Now a couple of things that only the Chase Freedom Unlimited card offers are:

Auto Rental Collision Damage Waiver, this provides you with coverage for theft and collision damage of most rental cars in the US and abroad.
But just note that this does not cover car rentals through TURO.

And then finally there is Purchase Protection which provides with up to 120 days of coverage on new purchases against damage of theft.
This provides you with up to $500 per claim and a total of $50,000 per account. 

0% APR

Now it also it’s worth noting that both cards offer a 0% APR for 15 months from the date you open the account.
This can be a particularly useful benefit to use if you currently have a high interest rate on debit through another account.
If utilized properly it could potentially save you a ton of money.
And to learn more about what a balance transfer is, and how to do one, check out this article here.

Final Thoughts

So after going through all of this information, which card is the better card?
Well It really depends on a few different factors. 

Like I mentioned earlier in the video, if you have a good idea of where you will spend a majority of your money then the decision on which card is a better fit for you should be pretty easy to figure out.

If you want the highest possible cash back earnings and the most options for earning cash back, then the Capital One Savor One card is the better card.

Then in terms of overall benefits and insurance coverage, the Chase Freedom Unlimited credit card comes out on top as it offers just that little bit more than the Capital One Savor One card does.

In my opinion I think both cards are both fantastic value and I would be happy with either card as I know I could find almost equal value with both of them.

Now if you’re looking for something else interesting to read check out my review of the Ultimate Credit Card of 2023.