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Capital One® Savor® Cash Rewards Credit Card Review
If you spend a good portion of your discretionary funds on dining in restaurants and entertainment, the Capital One® Savor® Cash Rewards Credit Card deserves your attention. It offers 4% unlimited cash back at places classified as dining merchants and entertainment purchases like tickets to live sporting events, theater productions, tourist attractions and amusement parks. You’ll also get 2% cash back at grocery stores and 1% back on everything else. Ticket purchases through Vivid Seats qualify for an even higher 8% cash-back rewards rate through May 2020.
|Card||Ongoing Purchase APR||Annual Fee||Intro Bonus||Credit Needed||Key features|
|Capital One® Savor® Cash Rewards Credit Card||15.99% – 24.99%||$95 annually||$300 cash-back bonus after spending $3,000 with the card within 90 days of opening the account||Good to Excellent||Cash Back|
What we like about the Capital One® Savor® Cash Rewards Credit Card
This is an ideal credit card for people who frequently dine out and enjoy a multitude of entertainment options. Unlike some major competitors offering rewards bonuses in certain spending categories, the Capital One® Savor® Cash Rewards Credit Card doesn’t limit cash-back rewards.
The cash-back bonus for new cardmembers, is actually one of the largest bonuses available among cash-back credit cards, right now.
Things to consider
While the cash-back rewards on dining and entertainment with the Capital One® Savor® Cash Rewards Credit Card are nice, cardholders who don’t spend that much in these two categories have better options for cash-back rewards cards. Competitors beat cash-back rewards in all other categories.
The APR on this card could be high, depending on your credit. So, if your FICO score is good enough to get approved but you end up with a higher interest rate, it’s smart to pay the card off every month to avoid paying high interest charges on purchases.
While you won’t pay the annual fee during your first year of owning the Capital One® Savor® Cash Rewards Credit Card, it’s $95 per year after that.
Capital One® Savor® Cash Rewards Credit Card cash back details
This card is best suited to people who spend on dining and entertainment categories to cover the annual fee after the first year.
Spending at grocery stores earns 2% cash back and all other spending earns 1% cash back. One main advantage of having this card is that there’s no cap on rewards in any category. So, a cardholder who spends heavily in the restaurant category will benefit from having this card more than someone who rarely eats out.
When you buy concert, sports or theater tickets with the Capital One® Savor® Cash Rewards Credit Card through the Vivid Seats online ticket portal, you’ll get 8% cash back until May 2020.
There’s no minimum redemption amount, and you can redeem your Capital One Savor Rewards through the Capital One app or online. You can choose to redeem your cash-back rewards for a purchase made with the Capital One® Savor® Cash Rewards Credit Card, redeem it for a gift card or simply credit your Capital One account. Credits to your account won’t count toward the minimum payment due, but they’ll reduce your balance.
If you spend $3,000 with the card within 90 days of opening the account, you’ll also get a $300 new cardmember cash bonus.
Capital One® Savor® Cash Rewards Credit Card fees
You won’t pay an annual fee during your first year of owning the Capital One® Savor® Cash Rewards Credit Card, but there’s an annual fee of $95 after that.
There are no foreign transaction fees. If you miss a payment due date, you’ll pay up to a $39 late fee.
How does it compare to other dining rewards cards?
The Marvel Mastercard® is another dining rewards card with no annual fee. You’ll get 3% unlimited cash back on restaurants and entertainment. All other purchases earn 1% cash back. You’ll also get an automatic $25 statement credit when you use the card for the first time. If you visit the Marvel Cinematic Universe in Las Vegas, you’ll get 20% off tickets and 10% off merchandise when you pay with your Marvel Mastercard®. Additional perks include three free months of Marvel Unlimited digital comics subscription and free shipping at MarvelShop.com during certain time periods.
The Wells Fargo Propel American Express® Card offers three points per dollar spent on transportation and restaurants. The 3x rewards also extends to gas stations, flights, hotels, car rentals, homestays and streaming services. All other purchases get one point per dollar spent with the card.
Like the Marvel Mastercard®, there is no annual fee. This card comes with 0% introductory APR for the first 12 months on purchases and balance transfers made within 120 days of opening the account. You’ll have to spend a total of $3,000 with the Wells Fargo Propel American Express card to get 30,000 bonus points, worth $300.
Of the three cards, the Capital One® Savor® Cash Rewards Credit Card offers the highest unlimited cash-back award for dining and entertainment at 4%. If you want a decent sign-up bonus combined with an introductory balance transfer deal, you may want to take another look at the Wells Fargo Propel American Express.
Please Note: Information about the Capital One® Savor® Cash Rewards Credit Card has been collected independently by TheSimpleDollar.com. The issuer did not provide the details, nor is it responsible for their accuracy.
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