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For many credit cards, dining rewards are an afterthought. Sure, you might earn bonus points, but you still earn more points on other purchases. The Capital One® Savor® Cash Rewards Credit Card prioritizes dining and entertainment rewards. If you want to earn cash back on your daily purchases, you might want to add this credit card to your wallet.
Capital One Savor Credit Card Review
There are two reasons why you should consider the Capital One Savor:
- Want maximum dining and entertainment rewards
- Prefer cash rewards
This card does have a $95 annual fee that Capital One waives for the first year. Honestly, the annual fee is the biggest drawback to the Savor credit card. But, if the rewards and card benefits below are worth it for you, you will enjoy this card.
Get 4% Back on Dining and Entertainment
With the Savor credit card, you can earn 8%, 4%, 2%, or 1% back, depending on the purchase.
The main reason to get the Capital One® Savor® Cash Rewards Credit Card is for dining and entertainment. If you find yourself going out to eat daily or hanging with friends on weekends, you’re a prime candidate for this card.
Many people spend more on these two categories than groceries each month, so you might earn more points than you think. If you spend roughly $3,000 a year on dining (like the average American), you earn $120 a year in dining rewards.
Plus, you also earn 4% bank on all entertainment purchases. Why not earn bonus points every weekend you go out?
What Are Dining Rewards?
Capital One defines the following purchases as dining rewards:
- Fast Food Restaurants
What Are Entertainment Rewards?
In a nutshell, entertainment rewards are anything you do outside the home. You won’t earn 4% back on your cable tv or streaming subscriptions. But, you can get unlimited 4% back on these purchase types:
- Movie Tickets
- Concerts and Plays
- Going to the Swimming Pool or Bowling Alley
- Video Rental Locations (i.e. Redbox)
- Theme Parks
- Tourist Attractions
This bonus category is pretty broad. If you like having fun around town, you won’t have a problem getting 4% back. Plus, you can 8% cash back on tickets at Vivid Seats (through May 2020). That can be a pretty sweet deal!
Earn 2% Back on Grocery Purchases
When you’re hungry, you have two options. First, you can go to a restaurant. Second, you go to the grocery store and cook your own meal.
The Capital One® Savor® Cash Rewards Credit Card covers both of these options with bonus points. We already know about the 4% back on dining. Now, you get 2% back at the grocery store. It’s nice to know you earn bonus cash on food purchases.
As long as you don’t buy your groceries from discount stores like Walmart or Target, you get 2% back. The reason why you must go to a supermarket to get 2% back is that these stores primary focus is selling food. Other grocery credit cards have the same policy as the Savor credit card on this topic.
Enjoy a $300 Signup Bonus
As a new cardholder, you also earn a one-time $300 signup bonus after spending $3,000 in the first three months. This bonus is a bit lower than other rewards credit cards with a similar annual fee of $95.
Redeeming Your Rewards Points
Your only redemption option is cash back. Unlike many other cash back credit cards, there isn’t a redemption minimum.
This means you can redeem your balance when it’s only $1.
Additional Capital One Savor Cash Rewards Credit Card Benefits
Cash rewards credit cards usually don’t have the most lavish additional card benefits. It’s a tradeoff for earning larger purchase rewards. But, you can still enjoy some of these additional card benefits.
Discount Entertainment Access
As a Capital One cardholder, you receive discount access to Capital One-sponsored events. If you visit Washington D.C., you get discount access to games and concerts in the Capital One Arena.
You can also enjoy other unique member-only experiences including:
- iHeartRadio Music Festival
- Tastemaker Chicago
- Food Network and Cooking Channel New York City Wine and Food Festival
Besides these events, you also get access to ticket presales.
Whether you want to enjoy culinary, sports, or music events, this is a fun way to earn 4% back.
If you buy an item and the price drops with 120 days of purchase, Capital One can refund you the difference. This is a benefit that other rewards cards have been removing. It’s something to keep in mind with your big-ticket purchases.
On select purchases, Capital One extends your purchase warranty when the original warranty ends.
No Foreign Transaction Fee
When you travel abroad, you won’t lose your bonus rewards to foreign transaction fees.
Also, you can also use Capital One’s complimentary travel concierge service. With this service, they help you research and book dining, entertainment, and travel.
Capital One Savor Cash Rewards Credit Card: Is It Worth It?
The Savor credit card is worth it if you spend a lot of money on dining and entertainment each year. After all, you have to earn enough to offset the $95 annual fee. As this is a cash reward credit card, annual fees can be harder to justify. After all, you already know how much you earn in rewards with each purchase.
With travel rewards cards, you have the potential to make your points worth more. But, the bonus rewards have to match your most common purchases.
Because the Capital One® Savor® Cash Rewards Credit Card is a cash reward credit card with an annual fee, this card needs to be your primary credit card if you get it. If it’s not your primary card, you may be better off using another card that still earns bonus points on dining and entertainment. But, you have more flexible earning and redemption options.
Pros of the Capital One Savor
- Unlimited bonus rewards on dining, entertainment, and groceries
- Earn bonus rewards on foreign purchases too
- No foreign transaction fee
- Discount access to Capital One dining, sports, and entertainment events
- $300 signup bonus
- No redemption minimum for cash rewards
Cons of the Capital One Savor
- $95 annual fee after the first year
- Only good if you spend a lot on dining and entertainment
- Cash rewards are your only redemption option
Alternatives to the Capital One Savor Cash Rewards Credit Card
If you don’t want the Capital One Savor, you might try one of these three alternatives instead.
It’s worth noting that there is the Capital One® SavorOne® Cash Rewards Credit Card that doesn’t have an annual fee. It earns an unlimited 3% back on dining and entertainment, 2% back at grocery stores, and 1% on all other purchases. New cardholders can earn $150 after spending $500 on purchases within 3 months of account opening.
Wells Fargo Propel
The information related to Wells Fargo Propel American Express® Card has been collected by Johnny Jet and has not been reviewed or provided by the issuer or provider of this product or service.
The Wells Fargo Propel American Express® Card is probably the most similar card in terms of bonus categories. You earn 3x points on dining, travel, and streaming services. And, it doesn’t charge an annual fee or foreign transaction fee.
Plus, you can redeem your rewards points for travel, cash, or gift card rewards. Whether you want a primary or secondary credit card, this is a solid contender.
Learn more: Travel Rewards Credit Cards
Capital One Venture Rewards Credit Card
The Capital One® Venture® Rewards Credit Card earns 2x miles on every purchase. Plus, you get 10x miles on Hotels.com/venture purchases. Like the Savor credit card, it has a $95 annual fee ($0 the first year). However, you can earn a 50,000-mile signup bonus after spending $3,000 within the first 3 months of account opening. You might prefer this card if you want to earn travel rewards.
Additionally, you get a fee credit for Global Entry or TSA PreCheck that helps take the bite out of the $95 annual fee. You can either redeem your miles for travel statement credits or future award travel.
Chase Sapphire Preferred
At its core, the Chase Sapphire Preferred benefits travelers. But, you can also redeem your points for cash rewards or gift cards too.
You earn 2x points on travel and dining. If you spend equally as much on travel as entertainment each year, then the Sapphire Preferred can be on par with the Savor’s credit card rewards. By the way, both cards have a $95 annual fee after the first year.
Your points can also be worth more when you redeem them for travel. You get a 25% redemption bonus when you book any award travel through Chase. Yet, the real potential is in the 1:1 point transfer to Chase’s airline travel partners. With point transfers, you can easily make each point worth at least 2 cents each or more.
In Summary of the Captial One Savor Cash Credit Card Review
As explained, the Capital One® Savor® Cash Rewards Credit Card is a good choice if you are looking to earn cash rewards for large or frequent dining, entertainment, and grocery purchases. However, if you are looking for more than cash rewards or don’t spend enough to earn much back, perhaps you might consider alternatives.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.
- 1 Capital One Savor Credit Card Review
- 2 Get 4% Back on Dining and Entertainment
- 3 Earn 2% Back on Grocery Purchases
- 4 Enjoy a $300 Signup Bonus
- 5 Redeeming Your Rewards Points
- 6 Additional Capital One Savor Cash Rewards Credit Card Benefits
- 7 Capital One Savor Cash Rewards Credit Card: Is It Worth It?
- 8 Alternatives to the Capital One Savor Cash Rewards Credit Card
- 9 In Summary of the Captial One Savor Cash Credit Card Review