Capital One Savor Cash Rewards Credit Card Review
This article was last updated Jun 10, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
The Capital One® Savor® Cash Rewards Credit Card is geared toward consumers with excellent/good credit, and who are looking for a card with robust rewards on dining and entertainment purchases. It does have an annual fee, however — $95, so after the first year you’ll need to make sure you reap enough in rewards to justify the annual fee.
We look at what the card offers, and present two alternative cards that offer similar rewards programs for dining and entertainment.
- Capital One® Savor® Cash Rewards Credit Card pros
- Capital One® Savor® Cash Rewards Credit Card cons
- Alternative credit cards for dining rewards
- Is the Capital One® Savor® Cash Rewards Credit Card right for you?
Capital One® Savor® Cash Rewards Credit Card pros
Rewards. This card offers a hard-to-beat cashback rewards rate on dining and entertainment purchases made with the card. Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases.
Here’s are the types of dining establishments where you can earn the higher rewards rate with the Capital One® Savor® Cash Rewards Credit Card:
- Restaurants
- Cafes
- Bars
- Lounges
- Fast-food chains
- Bakeries
For the entertainment category, these types of purchases also qualify for the higher rewards rate:
- Ticket purchases at movie theaters
- Sports promoters (professional and semiprofessional live events)
- Theatrical promoters
- Amusement parks
- Tourist attractions
- Aquariums
- Zoos
- Dance halls
- Record stores
- Pool halls
- Bowling alleys
Grocery purchases at these types of establishments also earn a higher rewards rate:
- Supermarkets
- Meat lockers
- Freezers
- Dairy product stores
- Specialty markets
Your cash back doesn’t expire as long as your account is open, and can be redeemed in any amount.
Sign-up bonus. Earn a one-time $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening.
No foreign transaction fee. When traveling outside the United States. you won’t have to worry about a foreign transaction fee, because there is 0%.
Additional benefits include:
- Extended warranty
- Travel accident insurance
- Special access to culinary, music and sporting events
- Complimentary concierge service for dining, entertainment and travel
Capital One® Savor® Cash Rewards Credit Card cons
Annual fee. The Capital One® Savor® Cash Rewards Credit Card’s annual fee is $95. If you spend $2,375 a year (after year one) on purchases earning 4% cash back, you can recoup the amount of the fee.
No intro APR. Many credit cards offer a year or more of an introductory 0% APR on purchases and/or balance transfers — but the Capital One® Savor® Cash Rewards Credit Card starts cardholders with the regular purchase APR of 15.49% - 25.49% (variable) immediately.
High spend requirement. Having to spend $3,000 on the card in three months can be a high requirement to earn $300 — you’ll need to determine if can meet that threshold before you apply.
Alternative credit cards for dining rewards
Avid foodies on a budget may balk at the Capital One® Savor® Cash Rewards Credit Card’s annual fee. Two alternatives that offer solid rewards for no annual fee are the Capital One SavorOne Cash Rewards Credit Card and the Wells Fargo Propel American Express® card.
Here’s how the cards compare to the Capital One® Savor® Cash Rewards Credit Card:
Capital One® Savor® Cash Rewards Credit Card vs. the Capital One SavorOne Cash Rewards Credit Card and the Wells Fargo Propel American Express® card
| Capital One® Savor® Cash Rewards Credit Card | Capital One SavorOne Cash Rewards Credit Card | Wells Fargo Propel American Express® card | |
|---|---|---|---|
| Welcome offer | Earn a one-time $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening | Capital One SavorOne Cash Rewards Credit Card | Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value |
| Rewards | Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases. Earn 4% Cash Back on select streaming services, including Netflix, Hulu and Disney+ through Dec. 31, 2020. | 3% Cash Back on dining; 3% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases Earn 3% Cash Back on select streaming services, including Netflix, Hulu and Disney+ through Dec. 31, 2020. | Earn 3X points on eating out, ordering in and popular streaming services, 3X points on gas stations, rideshares and transit, and 3X points on travel including flights, hotels, homestays and car rentals. Earn 1X points on other purchases. |
| Annual fee | $95 | $0 | $0 |
| Foreign transaction fee | 0% | None | None |
| Regular purchase APR | 15.49% - 25.49% (variable) | 15.49% - 25.49% (variable) | 14.49%-24.99% (variable) |
Is the annual fee on the Capital One® Savor® Cash Rewards Credit Card worth it?
It takes spending $2,375 to earn enough to recoup the annual fee (after the first year) on purchases that net the highest cashback rate. A no-annual-fee credit card earning 3% cash back on the same purchases would net $71.25 in cash back.
The tipping point for where you start earning more despite the annual fee is at around $10,000 spent on purchases that earn 4%. After subtracting the annual fee, the Capital One® Savor® Cash Rewards Credit Card nets $305 in cash back, while a card earning 3% with no annual fee would net $300.
This comparison is most precise when considering the Wells Fargo Propel American Express® card. The Wells Fargo Propel American Express® card doesn’t offer entertainment as a 3% cashback category, but does offer other high-earning categories — such as dining, gas, transit and travel.
Is the Capital One® Savor® Cash Rewards Credit Card right for you?
Which card is better for your wallet likely depends on whether you more likely find yourself hitting up entertainment events (such as going to the movies or a sports game) or traveling a lot.
Those who are drawn to Capital One, but don’t spend frequently on dining out or entertainment might prefer the Capital One Quicksilver Cash Rewards Credit Card. It earns 1.5% cash back on every purchase, every day.
However, if you want to get a burger at your favorite local grill, order a pizza for a cozy night in or hit up a movie with your significant other, the Capital One® Savor® Cash Rewards Credit Card offers a cashback rate you’re unlikely to find on other credit cards.
But it’s really only worth it if you spend $10,000 or more per year on dining and entertainment. Those who spend less than that can actually net more cash back with a card that earns 3% and charges no annual fee.
Read: Best Dining Credit Cards
The information related to the Wells Fargo Propel American Express® card has been independently collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication.
