Capital One® Savor® Cash Rewards Credit Card - Should You Apply?

Capital One® Savor® Cash Rewards Credit Card - Should You Apply?

An excellent credit card to use when dining out thanks to the 3% cash back rate.
Editor's Rating: 4.5

Editor's Rating

4.5

Credit Cards
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Advertiser Disclosure: Some of the card offers that appear on this website are from companies which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products.

Disclaimer: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone. For a full list of our advertisers, see our disclosure page.

Opinions, analyses, reviews, or recommendations expressed here are the author’s alone, and have not been reviewed or endorsed by the issuer. We may be compensated through the issuer’s Affiliate Program. For a full list of our advertisers see our disclosure page.

Contents

The Capital One® Savor® Cash Rewards Credit Card is an excellent card for anyone who spends a lot on dining. If you are someone who lives in a big city, and frequents cafes, restaurants or other dining establishments, this is currently one of the best cards to have in your wallet. If you are more concerned with saving on gas or groceries, there are other credit cards you should consider.

This card is good for...

  • Getting cash back from restaurant bills
  • Travel abroad, due to not having foreign transaction fees

This card is bad for...

  • People who spend significantly more on things other than dining out and groceries
  • Those looking for a credit card with a high sign-up bonus

Review: Our Thoughts On The Capital One® Savor® Cash Rewards Credit Card

The newly released Capital One® Savor® Cash Rewards Credit Card is a solid cash back credit card and one of the best for those who frequently dine out. The card’s 3% cash back return on dining is better than most credit cards out there, especially at this price-point. With no annual fee, the purchases you put on this card will translate to net profits. You don't have to worry about breaking even or coming out ahead, as you do with certain other dining-focused credit cards. This is assuming you’re always paying off your balances in full, as you should with any rewards credit card. If you are only interested in saving on grocery shopping, we recommend taking a look at the Blue Cash Preferred® Card from American Express instead.

*6% at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)

As always, there are credit cards that may perform better for you, depending on how your budget looks. For some, the flat-rate Capital One® Quicksilver® Cash Rewards Credit Card may produce the best rewards on average. We recommend using our comparison tool below that does the math behind cards for you, to produce a personalized recommendation.

Being a Capital One credit card, the Capital One® Savor® Cash Rewards Credit Card is also excellent for travelers. The card doesn’t have any foreign transaction fees. Most other credit cards charge their users a 3% surcharge when they are used outside of the United States. This can be problematic for anyone who frequently finds themselves abroad on vacations or for business. The Capital One® Savor® Cash Rewards Credit Card waives this charge so that you can use it wherever you travel.

Bottom Line: The Capital One® Savor® Cash Rewards Credit Card is an excellent no-annual-fee credit card for consumers who want to save on dining out and groceries. Before committing to it, however, we recommend checking out other options, as they may work better on your specific budget.

Capital One® Savor® Cash Rewards Credit Card Benefits & Features

The Capital One® Savor® Cash Rewards Credit Card offers an unlimited 3% cash back rate on dining, 2% on groceries and 1% on all other purchases. The rewards you gather through the card can be redeemed as statement credit or a check. These can be sent to you automatically on certain dates, or whenever you reach specific reward threshold.

Know that Capital One uses merchant category codes (MCCs) to determine whether you’re shopping at a restaurant, dining establishments or elsewhere. This will, in turn, dictate your return. Supermarkets, wholesale clubs and discount stores may not qualify for the 2% rate, even though you buy groceries there. For example, 7/11 stores are often categorized as gas stations, even if they don’t actually sell gas. If you buy food sold at a superstore, Wal-Mart, that also may not necessarily be classified as a dining establishment. You can look up how specific stores are classified through Visa’s website.

Capital One® Savor® Cash Rewards Credit Card
Annual Fee
$0
Purchase APR
15.99% - 24.74% (Variable)
Credit Needed Excellent, Good
Foreign Transaction Fee None
Details
  • Earn a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening
  • Earn unlimited 3% cash back on dining, 2% on groceries and 1% on all other purchases
  • 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
  • 0% intro APR on purchases for 15 months; 15.99%-24.74% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 15.99%-24.74% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • No annual fee
  • No foreign transaction fees
Note: The information in this box was provided by Capital One and is not part of our independent analysis.

The Capital One® Savor® Cash Rewards Credit Card currently comes with a $150 bonus. To qualify, cardholders must spend at least $500 on their card within the first 3 months of account opening. The bonus can only be attained through purchases. Other types of transactions, including balance transfers and cash advances, will not count towards the $500 minimum.

How Does The Capital One® Savor® Cash Rewards Credit Card Compare To Other Credit Cards?

We looked at how the Capital One® Savor® Cash Rewards Credit Card compares to some other available options. This way, consumers looking to apply for just one new credit card can make a better-informed decision.

Capital One® Savor® Cash Rewards Credit Card vs Capital One® Quicksilver® Cash Rewards Credit Card

The Capital One® Quicksilver® Cash Rewards Credit Card is the better card for people who have more varied spending. It awards a flat 1.5% cash back rate on all purchases, no matter the category. Depending on how much you spend on dining and groceries, this may be better or worse for your budget. Here are a few example budgets:

ProfileDining OutGroceryAll OtherWhich Card Is Better?
A$100$200$700Capital One® Quicksilver® Cash Rewards Credit Card
B$200$200$600Capital One® Savor® Cash Rewards Credit Card
C$400$100$500Capital One® Savor® Cash Rewards Credit Card

The two cards are comparable from all other major aspects. Both don’t charge their users an annual fee or foreign transaction fee. They also offer the same early spend bonus. Since both cards have no annual fee, a valid strategy is to get both. That way you can maximize your returns. Use the Capital One® Savor® Cash Rewards Credit Card whenever you are shopping at grocery stores or dining out, and the Capital One® Quicksilver® Cash Rewards Credit Card everywhere else.

Capital One® Savor® Cash Rewards Credit Card vs AARP® Credit Card

The AARP® Credit Card is another strong credit card to be used for dining purchases. Like the Capital One® Savor® Cash Rewards Credit Card, it provides an unlimited 3% cash back at restaurants. However, instead of giving cardholders 2% back at grocery stores, the AARP® Credit Card awards 3% back at gas stations. If you spend more on gas than you do at the grocery store, the AARP® Credit Card is the easy choice. If you have a mix of expenses, you can use the following trick to figure out which card is better for your budget. Add your monthly gas and grocery expenses. Then divide your gas purchases by the sum from the first step. If the answer is 0.35 or higher, you will be better off with the AARP® Credit Card. Otherwise you should go with the Capital One® Savor® Cash Rewards Credit Card.

Capital One® Savor® Cash Rewards Credit Card vs Chase Freedom®

The Chase Freedom® is one of our picks for best cash back credit cards, and is especially beneficial for point-optimizers. The card awards you 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. These categories can include things like gas stations, restaurants and holiday shopping. The 5% rewards are clearly superior to getting just 3% back, though they require a bit of work. As long as you manage to fit at least 50% of all your purchases in the bonus categories, you will always come out ahead of the Capital One® Savor® Cash Rewards Credit Card – this is assuming you also fit within the $1,500 category limits. If you aren't willing to keep track of these bonus categories and activate them every quarter, we don't recommend getting the Chase Freedom®.

We should also note that the Chase Freedom® currently offers a better welcome bonus. Users get $150 after spending $500 on purchases within the first 3 months of cardmembership. That is $50 better than what the Capital One® Savor® Cash Rewards Credit Card provides.

Compare The Capital One® Savor® Cash Rewards Credit Card Based On Your Budget

The effectiveness of cards like the Capital One® Savor® Cash Rewards Credit Card varies greatly, depending on how your budget looks. To help you skip the math, we developed a tool that estimates the value of credit cards based on how you spend. Enter your estimated monthly spending by category below to see how the Capital One® Savor® Cash Rewards Credit Card compares against similar cash back options.

Assumptions Based On Monthly Spend of: $1,430 Edit
General:
U.S. Gas Stations:
U.S. Supermarkets:
Airlines:
Hotel:
U.S. Restaurants:
Office:
Utilities:
Computing:
Card Annual Fee 2-yr Net Rewards Rate

The Net Rewards Rate is equal to the Rewards Value over two years divided by the total spending. The total spending is equal to the values entered into the tool and multiplied by 24 months. See the rewards Value note to see details on how it is calculated.

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. All estimates are based on the spend assumptions entered above (which you can edit).

Bonus Value

The bonus field shows our estimate for the value of the card’s welcome bonus. If the bonus is point or mile based, we multiply the total bonus points/miles by our estimate for their value to arrive at a dollar equivalent. We display $0 if there is no bonus or if the user doesn’t qualify for the bonus based on the current spending entered into the tool. All estimates are based on the spend assumptions entered above (which you can edit).

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

2-yr Rewards Value

The Rewards value is calculated by adding together the rewards earned from charging purchases to the card over two years and any welcome bonuses (if applicable). They are then multiplied by our estimated point/mile value, with any annual fees (if applicable) subtracted. All values are based on our own estimates for the dollar value of any points, miles or bonuses earned using a card and on the spend assumptions entered above (which you can edit).

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Capital One® Savor® Cash Rewards Credit Card
$0 1.99%
$150
$150 once you spend $500 on purchases within the first 3 months
$683
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 53,280 x $0.01 = $533
Bonuses
0 x $0.01 = $150
Total Net Estimated Rewards Through 24 Months 683

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $0
APR 15.99% - 24.74% (Variable)

Card Details

  • Earn a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening
  • Earn unlimited 3% cash back on dining, 2% on groceries and 1% on all other purchases
  • 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
  • 0% intro APR on purchases for 15 months; 15.99%-24.74% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 15.99%-24.74% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • No annual fee
  • No foreign transaction fees

Note: The information in this box was provided by Capital One® and is not part of our independent analysis.

Capital One® Quicksilver® Cash Rewards Credit Card
$0 1.94%
$150
Get $150 bonus after spending $500 within the first 3 months
$665
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 515 x $1 = $515
Bonuses
0 x $1 = $150
Total Net Estimated Rewards Through 24 Months 665

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $0
APR 14.49% - 24.49% (Variable)

Card Details

  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • 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
  • 0% intro APR on purchases for 15 months; 14.49%-24.49% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 14.49%-24.49% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • Pay no annual fee or foreign transaction fees

Note: The information in this box was provided by Capital One® and is not part of our independent analysis.

Chase Freedom Unlimited®
$0 1.94%
$150
Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening;Earn a $25 Bonus when you add your first authorized user and make a purchase within this same 3-month period
$665
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 51,480 x $0.01 = $515
Bonuses
0 x $0.01 = $150
Total Net Estimated Rewards Through 24 Months 665

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $0
APR 16.49% - 25.24% Variable

Card Details

  • Unlimited 1.5% cash back on every purchase — it's automatic
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49-25.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • Free credit score, updated weekly with Credit Journey℠
  • No annual fee
AARP® Credit Card
No Annual Fee 1.89%
$100
Spend at least $500 on purchases in your first 3 months and receive $100 in cash back
$650
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 550 x $1 = $550
Bonuses
0 x $1 = $0
0 x $1 = $100
Total Net Estimated Rewards Through 24 Months 650

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee No Annual Fee
APR 16.49%

Card Details

  • 3% cash back at restaurants and gas stations
  • 1% cash back everywhere else
  • No Annual Fee
  • 0% Intro APR for 12 months on purchases and balance transfers
Chase Freedom®
$0 1.44%
$150
Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
$493
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 343 x $1 = $343
Bonuses
0 x $1 = $150
Total Net Estimated Rewards Through 24 Months 493

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $0
APR 16.49% - 25.24% Variable

Card Details

  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories each quarter
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49-25.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
  • Free credit score, updated weekly with Credit Journey℠
  • No annual fee
Capital One® QuicksilverOne® Credit Card
$39 1.27%
$0
$437
Graph Card Read Review More Details and Value Calculation

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 515 x $1 = $515
Less Annual Fees -$78
Total Net Estimated Rewards Through 24 Months 437

*The value estimate is calculated using ValuePenguin.com rewards point value.

Annual Fee $39
APR 24.99% (Variable)

Card Details

  • Earn unlimited 1.5% cash back on every purchase, every day
  • Earn cash rewards without signing up for rotating categories
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • Monitor your credit profile with the CreditWise® app, free for everyone
  • $0 fraud liability if your card is ever lost or stolen
  • No limit to how much cash back you can earn, and cash back doesn't expire for the life of the account
  • Help strengthen your credit for the future with responsible card use
  • Get customized alerts and manage your account with the Capital One mobile app

Note: The information in this box was provided by Capital One® and is not part of our independent analysis.

Comments and Questions

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

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Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program. 

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Advertiser Disclosure: Some of the offers that appear on this website are from companies which ValuePenguin receives compensation. This compensation may impact how and where offers appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products. For more information please see our Advertiser Disclosure.