If dining out and entertainment eat up a large portion of your monthly budget, the Capital One® Savor® Cash Rewards Credit Card might be the perfect card for your wallet. It offers 4% cash back on dining and entertainment — one of the best cash back rates around — and a reasonable annual fee of $0 intro for first year; $95 after that.
Capital One® Savor® Cash Rewards Credit Card Review: One of the best rewards cards for hitting the town
A cashback credit card can be a good option if you feel overwhelmed by rewards or travel card redemption options and restrictions. And whether you’re entertaining out-of-town friends or sitting down for a candlelit date night, the Capital One® Savor® Cash Rewards Credit Card’s 4% cash back rate is hard to beat. You also earn 4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through Jan 2022..
Plus, Capital One offers a few time-limited bonuses, like 8% cash back at Vivid Seats through May 2020.
4% cash back on dining and entertainment
The Capital One® Savor® Cash Rewards Credit Card’s shining point is certainly its high cash back rates, so it’s worth taking a closer look at how Capital One defines these categories.
- 4% cash back on dining: Includes restaurants, bars, fast food, cafes and bakeries.
- 4% cash back on entertainment: Includes concerts, sporting events, plays, movie theaters, zoos and aquariums, tourist attractions, theme parks and nightclubs. Excludes streaming services, subscriptions, golf courses and some entertainment purchases made through a third-party website or company.
- 2% cash back at grocery stores: Includes supermarkets, meat lockers, freezers, dairy stores and specialty markets. Excludes superstores, warehouse clubs, discount stores and convenience stores.
- 1% cash back everywhere else
The inclusion of such a wide range of dining and entertainment options means you can earn the high 4% cash back rate on many common purchases. Plus, there’s no foreign transaction fee, which makes this a handy card if you frequently go abroad.
Even the 2% cash back at grocery stores includes specialty markets, unlike some other cards. Although you won’t earn 2% cash back at superstores or warehouse clubs (like Costco, Walmart or Target), other cards exclude those types of stores from the grocery or supermarket categories as well.
A nice $300 intro bonus for a cashback card
As a new cardholder, you can earn a $300 intro bonus after making $3,000 worth of purchases with your card during the first three months. It’s a good offer for a cashback card — other cashback cards often offer intro bonuses of $150 to $250, though they also may have much lower spending requirements.
However, the bonus isn’t especially high compared to travel rewards cards, which may offer an intro bonus worth around $500 to $800 with similar $3,000 to $4,000 spending requirements.
No foreign transaction fee and $0 intro year annual fee
None of Capital One’s U.S.-issued cards have a foreign transaction fee — an extra charge that some cards apply if you make purchases outside the U.S. The lack of the fee is especially fitting on the Capital One® Savor® Cash Rewards Credit Card if you’ll be dining out and spending money on entertainment while vacationing or if you’re on a work trip abroad.
You’ll need to decide if keeping the Capital One® Savor® Cash Rewards Credit Card is worth paying the $0 intro for first year; $95 after that annual fee by figuring out how much you’ll spend on the card and gain in rewards in order to offset that fee.
Easy redemption options
You can redeem the cash back you earn using the Capital One® Savor® Cash Rewards Credit Card as a statement credit or check any time without minimum redemption requirements. In contrast, some cash back cards require you to accrue at least $25 in cash back before redeeming your rewards.
You can also sign up for automatic redemptions on a certain day each year or every time you reach a specific amount of rewards (such as $25 or $50).
ValuePenguin's verdict: A good fit if you spend over $9,500 on dining and entertainment each year
If dining and entertainment take up most of your discretionary spending, the Capital One® Savor® Cash Rewards Credit Card’s 4% cash back rate will certainly be appealing. However, to determine if its the best card for your wallet, estimate how much cash back you’ll estimate with several cashback credit cards.
For example, Capital One also offers the Capital One® SavorOne® Cash Rewards Credit Card, which has similar benefits and a lower 3% cash back rate on dining and entertainment — with $0 annual fee.
Comparing the two Capital One options (and looking beyond the first year, when the annual fee is waived), you’ll have to spend $2,375 on dining and entertainment with the Capital One® Savor® Cash Rewards Credit Card to cover annual fee that's $0 intro for first year; $95 after that.
Or, if you don’t spend a lot on entertainment, the Uber Visa Card offers 4% cash back on dining and 3% cash back on hotel or airfare purchases, and doesn’t have an annual fee.
The information related to the Uber Visa Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.
Alternatives to the Capital One® Savor® Cash Rewards Credit Card
If the Capital One® Savor® Cash Rewards Credit Card seems tempting, but not quite right, you might be better off with one of these other cards. They could better align with your usual purchases, offer more rewards or have redemption options that you find more valuable than cash back.
Capital One® Venture® Rewards Credit Card
A travel rewards card, the Capital One® Venture® Rewards Credit Card offers 2 Miles per dollar on every purchase, every day, with the same annual fee as the Capital One® Savor® Cash Rewards Credit Card ($95). Some people prefer this flat-rate earning style, as you don’t have to keep track of — or worry about — earning different rewards depending on where you shop. Additionally, you can get 50,000 bonus miles after making $3,000 worth of purchases during your first three months with the card.
The miles are worth 1 cent each if you use them to book travel or receive a statement credit to offset previous travel purchases. Or, you can transfer the miles to partner airline frequent flier programs and book rewards flights.
American Express® Gold Card
If food takes priority over entertainment, the American Express® Gold Card offers Earn 4X Membership Rewards® Points on Restaurants worldwide, including takeout and delivery. Additionally, earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X), and 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
There’s a $250 annual fee, but you’ll also get up to $120 in annual dining credits (up to $10 each month) and up to $100 in airline fee credits for incidental fees on one select airline each year.
Chase Sapphire Preferred® Card
One of the most popular travel rewards cards, the Chase Sapphire Preferred® Card offers 2X points on travel and dining at restaurants, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases worldwide. The most valuable are booking travel through the Chase Ultimate Rewards portal at a rate of 1.25 cents per point or transferring your points to a partner airline or hotel frequent traveler program.
The card has a $95 annual fee that isn’t waived the first year. However, you can also Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.