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- Capital One Savor Review
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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
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.
Credit Rating Requirement:
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
This credit card is a good fit for: Cardholders who like to go out and spend quite a bit on dining and entertainment.
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.
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.
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.
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.
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Rates & Fees | Rates & Fees |
Credit Rating Requirement: |
Credit Rating Requirement: |
Welcome Bonus: Dollar-for-dollar match of all cash back earned the first year |
Welcome Bonus: $300 after spending $3,000 within 6 months |
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 |
Intro APR: Purchases: 0%, 14 months Balance Transfers: 0%, 14 months |
Intro APR: Purchases: 0%, 12 months Balance Transfers: N/A |
Regular APR: 11.99% - 22.99% Variable APR |
Regular APR: 13.99%-23.99% Variable |
Annual Fee: $0 |
Annual Fee: $0 for the first year, then $95. |
Foreign Transaction Fee: None |
Foreign Transaction Fee: 2.7% of each transaction after conversion to US dollars. |
Highlights:
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Highlights:
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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.
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