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With the introduction of the Capital One® Savor® Cash Rewards Credit Card, which offers one of the highest cash-back rates for dining and entertainment out there, Capital One brought to market a leading cash-back card for dining, and more. That, plus a generous cash bonus, makes it tempting -- but the card does come with an annual fee. Is it worth it? Find out below in our detailed Capital One® Savor® Cash Rewards Credit Card review.
Great for: Dining and entertainment rewards
Capital One® Savor® Cash Rewards Credit Card
Rating image, 4.5 out of 5 stars.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
Bottom Line
Unlimited 4% cash back on dining and entertainment makes this the ideal option for spending nights out on the town. Pair that with the big sign-up bonus and 2% back at grocery stores and you’ve got the ingredients for a top-rated rewards card.
Rewards
4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
Annual Fee
$95
Intro APR
Purchases: N/A
Balance Transfers: N/A
Ongoing APR
15.99% - 24.99%, variable
Welcome Bonus
$300 after spending $3,000 within 3 months
Highlights
- Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening
- Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.
- No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
- No foreign transaction fees
- Capital One cardholders get access to premium experiences in dining, entertainment and more
- $0 intro annual fee for the first year, $95 after that
Full Capital One Savor review
This credit card is a good fit for: Cardholders who like to go out and spend quite a bit on dining and entertainment.
Pros
- Big sign-up bonus
- Dining rewards
- Entertainment rewards
- No foreign transaction fee
Cons
- Annual fee
- No zero-interest offer
Top perks
Unlimited 4% cash back on dining and entertainment: This is one of the highest cash-back rates out there on dining and entertainment, and it's unlimited. This means that for every $1,000 you spend on restaurant bills, bar tabs, concerts, sporting events, theme parks, and more, you'll get $40 back.
2% cash back at grocery stores: You'll also get 2% cash back on any purchases you make at supermarkets. Superstores like Walmart and Target are excluded.
5% cash back with Uber Eats until Jan. 31, 2021: Earn even more cash back on your food delivery for a limited time.
$300 cash welcome bonus: If you can spend $3,000 in the first three months, you'll get a $300 cash bonus.
Flexible rewards redemption: Redeeming your cash back with the Capital One® Savor® Cash Rewards Credit Card is simple, and you can redeem any amount at any time. Many other competing cash-back credit cards have minimum redemption requirements.
No foreign transaction fees: If you ever travel abroad, it's important to have a credit card that won't charge you fees on every transaction you make.
What could be improved
Annual fee: The $95 annual fee is definitely something to take into account. If you can't spend enough to make more than $95 in cash back, the card may not be worth it. However, there is a no-annual-fee version of this card, the Capital One® SavorOne® Cash Rewards Credit Card, if you're interested.
No 0% introductory APR offer: It's hard to ask for more perks with such a generous rewards rate and sign-up bonus, but an introductory 0% APR offer on new purchases or balance transfers would make this card even more useful.
Suggested credit score
You should have good credit to apply for the Capital One® Savor® Cash Rewards Credit Card. This means that a FICO® Score of at least 670 will get you a good chance of receiving approval. The lower your credit score, the harder it will be to receive approval for this card. It's worth noting that no credit score will guarantee approval.
Is the annual fee worth it?
Determining the value of any rewards credit card will always depend on your spending habits. The Capital One® Savor® Cash Rewards Credit Card offers fantastic rewards for those who spend heavily on dining and entertainment and average rewards for heavy spending on groceries. The table below gives you an example of how various spending profiles can profit off of this credit card each year.
| Total monthly spending | Dining and entertainment | Groceries | Other spending | Total monthly rewards | Total annual rewards |
|---|---|---|---|---|---|
| $500 | $75 | $300 | $125 | $10.25 | $123 |
| $1,000 | $250 | $500 | $250 | $22.50 | $270 |
| $2,000 | $500 | $1,000 | $500 | $45.00 | $540 |
| $4,000 | $1,000 | $1,500 | $1,500 | $85.00 | $1,020 |
As you'll notice from the table, it's not overly difficult to recover the $95 annual fee on the Capital One® Savor® Cash Rewards Credit Card. By spending $500 per month -- at least $75 of it on dining and entertainment and $300 on groceries -- you'll make $123 in annual rewards, pocketing $28 per year after paying the annual fee.
If you were to use your Capital One® Savor® Cash Rewards Credit Card for dining and entertainment purchases, you'd need to average at least $198 per month on dining and entertainment to recoup the $95 annual fee.
Alternatives to consider
- If you want a cash back card with no annual fee: The Discover it® Cash Back card earns up to 5% cash back on up to $1,500 of quarterly spending in certain categories that rotate every quarter and must be activated. This makes it a good fit for cardholders who can make the most of their bonus categories, which have included restaurants, gas, and Amazon.com purchases.
- If you want a card that earns big on groceries: On the other hand, if you spend a lot on groceries, you might want to consider the Blue Cash Preferred® Card from American Express, which earns 6% cash back at U.S. supermarkets on up to $6,000 per year and 3% cash back at U.S. gas stations. You'll also get a bigger welcome bonus, and all for the same annual fee.
As of Jan. 05, 2021
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| Discover it® Cash Back | Blue Cash Preferred® Card from American Express |
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Rating image, 5.0 out of 5 stars.
5.0 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
Rating image, 5.0 out of 5 stars.
5.0 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
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Apply Now
On Discover's Secure Website. |
Apply Now
On American Express' Secure Website. |
| Read Full Review | Read Full Review |
| Rates & Fees | Rates & Fees |
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Credit Rating Requirement: |
Credit Rating Requirement: |
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Welcome Bonus: Dollar-for-dollar match of all cash back earned the first year |
Welcome Bonus: $300 after spending $3,000 within 6 months |
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Rewards Program: Cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Unlimited cash back on all other purchases - automatically |
Rewards Program: 6% cash back at U.S. supermarkets ($6,000 spending cap per year), 3% cash back at U.S. gas stations and on transit, 1% back on all else |
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Intro APR: Purchases: 0%, 14 months Balance Transfers: 0%, 14 months |
Intro APR: Purchases: 0%, 12 months Balance Transfers: N/A |
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Regular APR: 11.99% - 22.99% Variable APR |
Regular APR: 13.99%-23.99% Variable |
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Annual Fee: $0 |
Annual Fee: $0 for the first year, then $95. |
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Foreign Transaction Fee: None |
Foreign Transaction Fee: 2.7% of each transaction after conversion to US dollars. |
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Highlights:
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Highlights:
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Apply Now
On Discover's Secure Website. |
Apply Now
On American Express' Secure Website. |
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This credit card is right for you if:
The Capital One® Savor® Cash Rewards Credit Card is best for people who spend a lot of money on dining and entertainment, as an unlimited 4% is one of the best rates on the market. The big bonus makes the offer that much more enticing. But you'll want to make sure you spend enough to justify the annual fee, which is justifiable for many who dine out at least occasionally.
While the return on grocery spending is decent, there are better grocery redit cards that can get you a higher return on supermarkets.
About the Author
Elizabeth is a personal finance writer specializing in credit cards, debt repayment, and small business. Her work has appeared on The Motley Fool, MSN Money, Yahoo! Finance, and Business Insider. She’s an avid credit card points collector and perpetual traveler currently living in Costa Rica.
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
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