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Capital One® Savor® Cash Rewards Credit Card Review: Is It Worth Applying?

Capital One® Savor® Cash Rewards Credit Card Review: Is It Worth Applying?

One of the better options for those who spend a lot at restaurants.
Editor's Rating: 3.0/5.0

Editor's Rating

3.0/5.0

Capital One just announced the launch of two new credit cards, one of which is the Capital One® Savor® Cash Rewards Credit Card. The Capital One® Savor® Cash Rewards Credit Card can be a great card for high spenders who frequently dine out or make entertainment purchases, like music festival passes. That said, if you don't spend at least roughly $400 on those two categories per month, we suggest searching for a different cash back credit card. Given this is a high spending threshold to meet for anyone, we give alternative card recommendations below.

Capital One® Savor® Cash Rewards Credit Card: A Great Card for a Select Few

The highlight of the Capital One® Savor® Cash Rewards Credit Card is the outstanding 4% cash back rate you can achieve on dining and entertainment purchases. Other cash back cards generally max out at 2% cash back on those categories, with the exception of a few cards. For example, the Uber Visa Card also offers 4% cash back on dining. However, the Capital One® Savor® Cash Rewards Credit Card comes with an annual fee, so this card may not make sense for everyone.

Below, we outline how the Capital One® Savor® Cash Rewards Credit Card compares against other cash back cards. The results show how each card's rewards stack up over a two-year period, minus any annual fees. The results are based on an average consumer's budget and exclude any sign-up bonuses.

Credit cardTwo-year net rewards
Capital One® SavorOne℠ Cash Rewards Credit Card$533
Uber Visa Card$509
Capital One® Savor® Cash Rewards Credit Card$493

In a vacuum, this card would be a great choice for most, but when evaluated among competing credit cards, it's clear that the Capital One® Savor® Cash Rewards Credit Card is only a great card for people who spend roughly $400 or more on dining and entertainment purchases per month. That's how much spending we calculate it would take for the Capital One® Savor® Cash Rewards Credit Card to be better than competing cards, like the Capital One® SavorOne℠ Cash Rewards Credit Card. As a point of comparison, the average person spends approximately $200 on these categories per month.

One of the Capital One® Savor® Cash Rewards Credit Card's redeeming factors is that it doesn't charge a foreign transaction fee. That means when you use it to pay for afternoon lunches abroad, you can still net a 4% cash back rate. It's not uncommon for other credit cards to charge a 3% foreign transaction fee. The Capital One® Savor® Cash Rewards Credit Card also has a bonus offer that's competitive with similar cards, so you won't be missing out on much value there.

Bottom Line: The Capital One® Savor® Cash Rewards Credit Card can be a great choice for high spenders who frequently dine out or find themselves purchasing movie tickets or passes to events like music festivals. However, for most people, there are better options to consider before applying for this card.

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

The Capital One® Savor® Cash Rewards Credit Card offers 4% cash back on dining and entertainment purchases and 2% cash back for every dollar spent at grocery stores. Any purchases that fall outside of those categories will earn you 1% cash back. There's no cap on the amount of cash back you can earn and no expiration dates.

Capital One® Savor® Cash Rewards Credit Card
Annual Fee
$0 intro for first year; $95 after that
Purchase APR
16.24% - 25.24% (Variable)
Credit Needed Excellent, Good
Details
  • Earn a one-time $500 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
  • Receive a monthly statement credit for a Postmates Unlimited monthly membership through Dec. 2019 with the Capital One Savor Card
  • 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
Note: The information in this box was provided by Capital One and is not part of our independent analysis.

Cardholders can earn a $500 sign-up bonus—provided they're able to spend $3,000 on the card within the first three months of account opening. Keep in mind that the only way to meet the spending requirements is to make actual purchases, as things like cash advances won't count toward meeting the minimum spend requirement. Cardholders pay a $95 annual fee, but it's waived in year one. As an added perk, the card doesn't charge a foreign transaction fee.

How Does the Capital One® Savor® Cash Rewards Credit Card Compare to Other Cards?

If you're searching for high cash back rewards for dining and entertainment purchases and you spend more than $4,750 on those categories per year, then the Capital One® Savor® Cash Rewards Credit Card will be hard to top. However, that likely won't describe most people, so we recommend prospective applicants compare their options. Below, we analyze how the Capital One® Savor® Cash Rewards Credit Card compares to other credit cards. If you're looking for a deep dive into the world of cash back credit cards, we suggest reading our comprehensive guide.

The Capital One® Savor® Cash Rewards Credit Card vs the Capital One® SavorOne℠ Cash Rewards Credit Card

If you spend less than $396 per month on dining and entertainment purchases, you're probably better off with the Capital One® SavorOne℠ Cash Rewards Credit Card over the Capital One® Savor® Cash Rewards Credit Card. Aside from the different sign-up bonuses, the main difference between the two cards is the extra 1% cash back you earn on dining and entertainment purchases with the Capital One® Savor® Cash Rewards Credit Card. In order for the Capital One® Savor® Cash Rewards Credit Card to be worth it, you'd have to earn enough cash-back rewards to negate the $95 annual fee. That $396 per month threshold over the first two-years simply won't be attainable for most people. If that's the case for you, then we suggest applying for the Capital One® SavorOne℠ Cash Rewards Credit Card.

Highlights

  • Pay no annual fee.
  • Get a $150 bonus after spending $500 within the first three months of account opening.
  • Earn 3% cash back on dining and entertainment, 2% at grocery stores, and 1% on all other purchases.

The Capital One® Savor® Cash Rewards Credit Card vs the Uber Visa Card

For anyone who spends just as much on travel and online purchases as they do on dining and entertainment, we recommend the Uber Visa Card. Even though the Uber Visa Card comes with no annual fee, it's able to stand toe-to-toe with the Capital One® Savor® Cash Rewards Credit Card's high 4% cash back on dining. However, unlike the Capital One® Savor® Cash Rewards Credit Card, the Uber Visa Card also awards high cash back rates for hotel and airfare purchases. This makes the Uber Visa Card a lot more versatile.

It's worth noting that the Capital One® Savor® Cash Rewards Credit Card will be a much better card in the short term if you're able to get the sign-up bonus. While the Uber Visa Card does offer a sign-up bonus, it's only worth $100. That's a weak offering when you consider that a ton of cash back credit cards offer sign-up bonuses upward of $500. Still, if you plan to hold the Uber Visa Card for several years, the bonus isn't a major drawback.

Highlights

  • Pay no annual fee.
  • Earn $100 after spending $500 on purchases in the first 90 days.
  • Earn 4% back on dining, 3% back on hotel and airfare, 2% back for online purchases, and 1% back on all other purchases.

The Capital One® Savor® Cash Rewards Credit Card vs the Discover it® Cash Back

If you're a rewards maximizer, meaning you're willing to keep track of categories that change and align your spending to them, then the Discover it® Cash Back will be the better choice for you. That's because the Discover it® Cash Back is among the best cash back credit cards due to its high 5% cash back on bonus categories, which rotate every three months. As a reference point, some of the best cash back cards offer a flat 1.5% to 2% cash back rewards rate. The 5% cash back rate applies to the first $1,500 in purchases each quarter you activate; after that, you'll earn 1% cash back. Since Discover matches all your cash back at the end of your first year, you'll effectively earn a 2% to 10% cash-back rate for those first 12 months.

Keep in mind that if you're unwilling to commit the time and effort to track the bonus categories on the Discover it® Cash Back, you'll be better off with the Capital One® Savor® Cash Rewards Credit Card. With the Capital One® Savor® Cash Rewards Credit Card, you won't have to worry about activating categories, as you'll always earn a high 4% cash-back rate on dining and entertainment. That said, the rotating categories on the Discover it® Cash Back usually consist of places where you're likely to spend money anyways. For instance, in 2018, they've included gas stations, grocery stores and Amazon.com.

Highlights

  • Pay no annual fee.
  • Discover matches all the cash back you've earned at the end of your first year.
  • Earn 5% cash back at different places each quarter, up to a quarterly maximum each time you activate.

Comments and Questions

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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.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred® Card points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).