Capital One Savor Rewards Credit Card Review

If you love going out to eat or for entertainment, why not get paid for it? The Capital One® Savor® Cash Rewards Credit Card pays some of the highest rewards for these two categories, which is something most credit cards don’t reward.

With incredibly easy ways to redeem your rewards and no foreign transaction fee, it’s easy to see why people love this Capital One card.

Check out my review on the Capital One® Savor® Cash Rewards Credit Card to see if it’s for you.

Capital One® Savor® Cash Rewards Credit Card Pros and Cons

Pros:

• Cashback on the rare entertainment category
• No balance transfer fee
• No foreign transaction fees
• Rewards never expire
• You can redeem rewards in any increment

Cons:

• $95 annual fee
• No introduction APR

What Is the Capital One® Savor® Cash Rewards Credit Card?

The Capital One® Savor® Cash Rewards Credit Card is a card for those who love to dine out or pay for entertainment.

It’s one of the few cards on the market that rewards entertainment purchases, such as theatre tickets, movie tickets, sporting events, zoos, and amusement parks, and at an incredible 4% cashback rate.

Cardholders also earn 2% back on grocery purchases, which is a nice perk because everyone buys groceries and 1% on everything else.

We like this card for its high cashback in the dining/entertainment category and because there aren’t any revolving categories or complicated formulas to understand. You always know how to earn cashback with the Capital One® Savor® Cash Rewards Credit Card.

Capital One® Savor® Cash Rewards Credit Card Review

• Annual Fee: $95
• Regular APR: 15.99% – 24.99%
• Rewards Rate: 4% cash back on dining and entertainment, 2% on groceries, and 1% on everything else
• Foreign Transaction Fee: none

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

Lucrative Sign-Up Bonus

Many credit card companies pay a bonus to get you to sign up, and the Capital One® Savor® Cash Rewards Credit Card is no exception.

If you spend $3,000 within the first three months of signing up, you’ll earn a $300 cash bonus. Since the card pays cashback on dining out and groceries, it’s pretty easy to rack up your rewards quickly.

4% Cash Back for Dining & Entertainment

If you’re the type that likes to be out and about and couldn’t wait to get back to ‘normal’ life during the quarantine, this card is for you.

With 4% cashback on your entertainment and dining purchases, it’s like always have a coupon with you, saving you money.

You’ll earn $4 for every $100 you spend. While it’s not a lot, it adds up. For every $5,000 you spend, you’ll get $200 back.

2% Cash Back on Groceries & 1% on Everything Else

Some cashback credit cards only reward you in one category, making it hard to determine if the annual fee is worth it.

With the Capital One® Savor® Cash Rewards Credit Card, though, you earn 2% on groceries, which is likely one of the next highest categories must households spend in and 1% on all other purchases.

This means you’ll always earn cash back of at least 1%, but if you spend on dining out or entertainment, you’ll quadruple your rewards.

Redeeming Rewards is a Breeze

The Capital One® Savor® Cash Rewards Credit Card gives cardholders many options to redeem their rewards:

• Statement credit
• Redeem with PayPal to make PayPal purchases
• Redeem with Amazon to make Amazon.com purchases

Get 8% Cashback with Vivid Seat

If you buy your entertainment tickets through Vivid Seat, you’ll double your cashback rewards, earning 8% rather than 4% back on your purchases. That’s $8 for every $100 in entertainment.

Please note, entertainment does not include golf courses, college sporting events, and streaming services or memberships.

Alternatives to the Capital One® Savor® Cash Rewards Credit Card

#1. Capital One Ventures Rewards Credit Card

The Capital One Ventures Rewards credit card is a travel credit card. It pays 2 miles per $1 spent on all purchases.

You don’t have to worry about specific categories, and it has the same $95 annual fee. To earn the signup bonus, you must spend $20,000 in the first 12 months.

If you don’t spend quite that much, you can still earn 50,000 miles if you spend $3,000 in the first 3 months.

You can use your miles to book travel directly, receive them as a statement credit for travel you already booked, or you can transfer the miles to your other airline frequent flier programs.

#2. Chase Sapphire Preferred®

The Chase Sapphire Preferred® is another travel credit card, rewarding you with airline miles for your purchases.

Like the Capital One® Savor® Cash Rewards Credit Card, it has a $95 annual fee. The Sapphire Preferred card is the closest you’ll get to the Capital One® Savor® Cash Rewards Credit Card because it pays 2x points on dining out and travel and 1x points on all other purchases.

If you spend $4,000 in the first 3 months, you’ll earn 80,000 points. If you use the points to book travel through the Chase Ultimate Rewards portal, you’ll get 1.25 cents per point or $1,000 with the 80,000 points.

Chase also provides a $50 statement credit for your grocery store purchases made in the first 12 months.

#3. Platinum Card® from American Express

The Platinum Card® from American Express is another travel rewards credit card that pays 5x points for airline travel and prepaid hotel purchases.

Cardholders also earn 1x points on all other purchases. They have a current welcome bonus that pays 10x points on gas and supermarket purchases up to $15,000 combined per year plus 100,000 points if you spend $5,000 in the first six months.

#4. Chase Freedom Flex℠

The Chase Freedom Flex℠ card doesn’t have an annual fee, which is its largest draw. Despite the lack of an annual fee, it pays significant rewards, including 5% cash back on up to $1,500 in spending per quarter in the categories you activate (they change each quarter).

You can also earn 5% cashback on travel, 3% back on dining, 3% on drugstore purchases, and 1% on everything else.

Your Chase Freedom Flex℠ also never expires as long as your card is active and the intro APR is 0% for the first 15 months, and then it increases.

Frequently Asked Questions

Is the Capital One® Savor® Cash Rewards Credit Card Worth It?

If you spend at least $2,375 a year on entertainment, the Capital One Savor card is worth it. At $2,375, it’s a wash when looking at the annual fee.

But don’t forget, you’ll also earn 2% cash back on groceries and 1% on everything else, so it’s not hard to get ahead of the $95 annual fee.

What Credit Score Is Needed to Get the Capital One® Savor® Cash Rewards Credit Card?

You need excellent credit to get the Capital One® Savor® Cash Rewards Credit Card, but they may approve your application with a credit score of 690+. If you have a credit score in the 700s, it’s a no-brainer.

Is there an Annual Fee for the Capital One® Savor® Cash Rewards Credit Card?

Yes, the Capital One® Savor® Cash Rewards Credit Card has a $95 annual fee, so make sure it’s worth it for you. If you know you won’t spend near the $2,375 in entertainment that washes out the annual fee, you may want to look elsewhere.

Bottom Line: Capital One® Savor® Cash Rewards Credit Card Review

If you’re a night-life person or you love to eat out, the Capital One® Savor® Cash Rewards Credit Card is a great option. You’ll earn 4% back for most of your purchases, which is like saving money every time you go out.

Capital One made it very easy to redeem your rewards and even provides options like using them via PayPal or Amazon, making it easy and worth using the Capital One® Savor® Cash Rewards Credit Card.

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