The Capital One Savor Card is designed to maximize cash back for those who frequently spend on food and entertainment. With unlimited 4% cash back on dining purchases, foodies can enjoy rewards whether they dine in, order takeout, or visit their favorite coffee shop.
Not just limited to dining, the Savor Card also offers 3% cash back at grocery stores, making it rewarding for home-cooked meals as well.
Entertainment enthusiasts will also find value in this card, with unlimited 4% cash back on select streaming services and qualified entertainment purchases. This covers a wide range of options, from movie and concert tickets to amusement parks and tourist attractions.
For all other spending, the card still earns 1% cash back.
However, it’s essential to consider the $95 annual fee, as it can impact the overall value of the card. To make the most of the cash-back rewards, significant spending is required to offset the fee.
If the annual fee is a concern, there are other food-focused credit cards available with similar reward structures but without the added cost.
Capital One Savor Card basics
The annual fee for this card is $95.
Upon spending $3,000 on purchases within three months from account opening, you will receive a welcome bonus of $300 cash.
There are various rewards offered by this card:
- 8% cash back on purchases through Capital One Entertainment.
- 5% cash back on hotels and rental cars booked through Capital One Travel.
- 4% cash back on dining, entertainment, and popular streaming services.
- 3% cash back at grocery stores.
- 1% cash back on all other purchases.
The regular APR for this card is variable and can be 20.24%, 25.24%, or 28.24%. There is no introductory purchase or balance transfer APR. The card provides additional benefits and perks, including travel accident insurance, complimentary concierge service, 24-hour travel assistance services, extended warranty protection, virtual card numbers, card lock, and credit monitoring via CreditWise.
Capital One Savor Card rewards
The Capital One Savor Card offers cash back in specific entertainment and food-related spending categories, rather than flat-rate cash back or rotating categories. You can earn an unlimited 4% cash back on dining, entertainment, and popular streaming services with this card.
Grocery store purchases will earn you 3% cash back, while all other purchases get 1% cash back. In addition to the bonus categories, Capital One allows cardholders to earn elevated cash back on certain spending. For purchases through the Capital One Entertainment platform, you get 8% cash back. Booking hotels and rental cars through Capital One Travel earns you 5% cash back.
When you open an account, you’ll receive a $300 bonus after spending $3,000 on purchases within three months. The cash-back rewards earned with the Savor Card can be redeemed in several ways. You have the option to redeem for a statement credit or a check. Credits for previous purchases are also available. Gift cards are another redemption option.
You can also use your rewards for checking out with PayPal or making Amazon.com purchases. Cardholders have the flexibility to choose automatic redemption preferences, like setting a specific time annually or a specific threshold. The Savor Card has no cap on the amount of cash back you can earn. Furthermore, your cash back rewards will never expire as long as your account remains open.
Capital One Savor Card rewards potential
Using data from the government and other publicly available sources, we can estimate the income and expenses of a typical U.S. household interested in this card. The estimated annual income for such a household is $84,352.
They are likely to have about $25,087 in expenses that can be charged to a credit card. Analyzing the spending patterns of similar households, we find that they spend $3,526 on dining, $1,387 on entertainment, and $564 on streaming services.
Combining these categories, the total spending in these areas amounts to $5,477. With a 4% cash back rate, the potential cash back on this spending would be $219.08. For groceries, a typical U.S. household spending $4,942 annually could earn an additional $148.26 at a 3% cash back rate.
The rest of the card spending, which amounts to $14,668, earns 1% cash back, resulting in $146.68 cash back. Altogether, the total potential cash back for the year would be $514.02. To evaluate the value of cash-back rewards with the Capital One Savor Card, we also need to consider factors like the $95 annual fee and the welcome bonus, provided you meet the spending requirement.
Capital One Savor Card APR details
Capital One Savor Card pros
- The Savor Card offers competitive cash-back rates.
- It earns high rates in popular categories like dining, groceries, entertainment, and streaming services.
- Along with cash-back, the card provides travel protections.
- These include travel accident insurance, concierge service, and 24/7 travel assistance.
- The card also has the advantage of no foreign transaction fees.
- This means no extra charges when using the card outside of the U.S.
- It becomes a great option for international travelers.
- Moreover, cardholders get access to CreditWise, Capital One’s credit monitoring service.
- With CreditWise, users can check their credit score and report, as well as receive alerts for any changes in their credit report.
Capital One Savor Card cons
- The card charges a $95 annual fee.
- Earning enough rewards to offset the fee requires considerable spending.
- Cash-back cards lack extravagant travel perks like travel credits, priority boarding, TSA Precheck, or Global Entry fee reimbursement.
- There is no introductory 0% APR offer on purchases or balance transfers with this card.
How the Capital One Savor Card compares to other cash-back cards
Capital One Savor Card vs. Chase Freedom Unlimited®
The Chase Freedom Unlimited Card provides rewards for dining and grocery purchases. When you use the card, you earn 5% cash back on travel purchased through Chase Ultimate Rewards®. Additionally, you get 3% cash back on eligible dining and drugstore expenses, and 1.5% on all other purchases.
One advantage of the Freedom Unlimited Card over the Savor Card is that it has no annual fee, allowing you to keep all your cash-back earnings. For those considering a balance transfer, the card offers a 0% intro APR for the first 15 months on both purchases and balance transfers. After this period, the variable APR ranges from 20.24% to 28.99%.
If you decide to transfer a balance, keep in mind that there is an introductory transfer fee of either $5 or 3% of the transfer amount, whichever is greater, within the first 60 days. After that, the fee changes to either $5 or 5% of each transfer.
Moreover, the Freedom Unlimited® can be paired with select Ultimate Rewards-earning cards, allowing you to combine your points for even greater value. This feature enhances the card’s potential benefits and rewards.
Capital One Savor Card vs. Capital One SavorOne Cash Rewards Credit Card
- If you tend to spend in categories that offer elevated rewards on the Savor Card, there’s an alternative.
- The Capital One SavorOne Cash Rewards Credit Card might be a better fit, especially if you can’t stomach paying an annual fee.
- This card comes with no annual fee and offers an unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery stores.
- For all other spending, you’ll earn 1% cash back.
- Just like the Savor Card, the SavorOne Card also provides travel perks and other card benefits.
- Additionally, you’ll receive a $200 cash bonus after spending $1,000 on purchases in the first three months of account opening.
Should you get the Capital One Savor Card?
If your monthly budget includes significant spending on food and entertainment, you might find the Capital One Savor Card appealing. It offers cash back rewards for these expenses. While not primarily a travel rewards card, it does provide some basic travel benefits and protections, making it suitable for moderate travelers. Moreover, it’s a good option for international travelers as it doesn’t charge foreign transaction fees.
However, remember that the card comes with an annual fee of $95, which can impact its overall value. If you don’t spend enough in bonus categories to earn cash back beyond this fee each year, it may not be the best choice for you. You can explore other credit cards that offer rewards for dining and entertainment without an annual fee.
Additionally, keep in mind that the Capital One Savor Card does not come with an introductory APR offer. If you’re looking to finance a large purchase or manage existing card debt without interest fees, you’ll need to consider other alternatives.
