Capital One SavorOne Cash Rewards Credit Card
vs. American Express Cash Magnet® Card

Both the Capital One SavorOne Cash Rewards Credit Card and the American Express Cash Magnet Card offer cash back rewards without annual fees, paired with introductory APR offers. The SavorOne Cash is best if you are prioritizing cash back in specific categories, such as entertainment and dining.

However, the Amex Cash Magnet offers a flat cash back rate on all purchases, which could be beneficial for those seeking straightforward rewards. While neither card is co-branded, each provides unique benefits that cater to different preferences.

You might prefer the SavorOne Cash if you spend a lot on dining, entertainment and travel. With this card, you'll earn higher cash back in these categories, and there are no foreign transaction fees, making it great for international travelers. Booking hotels and rental cars through Capital One Travel can yield even more rewards.

You might prefer the Amex Cash Magnet if you value simplicity. This card offers a flat 1.5% cash back on all purchases, which means you don't have to keep track of categories or sign-ups. Plus, you can take advantage of Amex Offers for additional savings on shopping, dining and travel.

Evaluating APRs, fees, credit requirements, rewards and other features helps you decide which card suits you best. For instance, if dining and entertainment are major expenses for you, SavorOne Cash's higher cash back in these categories might be more beneficial. Conversely, if you prefer a simple cash back rate on all purchases, the Amex Cash Magnet could be a better choice.

The SavorOne Cash card leads with a tiered rewards system, offering up to 8% cash back on entertainment and 5% on travel booked through Capital One, 3% back on dining, streaming services and groceries. This makes it a strong contender if your budget is focused on these categories.

On the other hand, the Amex Cash Magnet card's flat 1.5% cash back on all purchases could be appealing if you prefer a straightforward rewards program without having to track category bonuses. While the SavorOne Cash card may offer better rewards for some, the Amex Cash Magnet card's most compelling feature is its uniform cash back rate, which could be advantageous for purchases outside of the SavorOne's bonus categories.

Please refer to the following table for a detailed comparison of the bonus categories for each card.

The Amex Cash Magnet offers redemption for cash back as a statement credit, merchandise or gift cards, with the assurance that your cash back never expires. Similarly, the SavorOne Cash allows you to redeem cash back upon request in various forms, including statement credits or checks, with no expiration for the life of the account.

MoneyGeek evaluates credit cards like the SavorOne Cash and Amex Cash Magnet based on their performance. For this comparison, both cards are assessed based on the cash back rewards.

The largest factors in their cash back scores are the value of the rewards program and the benefits of introductory offers. These elements, and annual fees and issuer satisfaction, form a comprehensive score reflecting each card's strengths. For a deeper understanding of our scoring process, you can explore our ranking methodology.