2021 Capital One Savor Review

The Capital One® Savor® Cash Rewards Credit Card credit score requirement is “good”. Some applicants report Savor card approval with a lower credit score, but the odds are best with scores above that mark.

While your credit score carries a lot of weight, Capital One will consider your entire credit history when it reviews your application. That includes your payment history, amount of debt and number of open accounts, among other things. Capital One will also review other factors such as your income, employment status and housing information.

Plus, you must be at least 18 years and a U.S. citizen with a Social Security number. And you can't already have 5 or more open Capital One credit card accounts.If you want a better idea of whether you'll qualify for the Capital One® Savor® Cash Rewards Credit Card card, consider pre-approval. Capital One allows you to go online and assess your chances of approval without any effect on your credit score.

The Capital One® Savor® Cash Rewards Credit Card is a Mastercard, not a Visa; it is a World Elite Mastercard, to be specific. That means it offers the Mastercard network's highest level of benefits. Notable perks include up to $1 million in travel accident insurance and $1,500 per trip in trip cancellation insurance. The card's extended warranty benefit also adds up to two extra years to an item's original warranty and gives as much as $10,000 in coverage. Plus, there's rental car insurance, roadside assistance, purchase protection and more.

Frequent travelers will enjoy the Capital One® Savor® Cash Rewards Credit Card's wide global acceptance. And there's $0 foreign transaction fees. That means you'll be able to use this card abroad without having to pay a surcharge on everything you buy. Cards with foreign transaction fees typically charge an extra 1% to 3% on international purchases.

The Capital One® Savor® Cash Rewards Credit Card provides plenty of its own rewards and perks to complement Mastercard's array of benefits. For example, because it's designed for people who like to go out on the town, the Capital One® Savor® Cash Rewards Credit Card offers 4% cash back on dining and entertainment purchases. It also gives 2% cash back at grocery stores.

It's a World Elite Mastercard, so the minimum credit limit is $5000. If you're not confident you'll be approved for that high a limit, the SavorOne is a Platinum Mastercard with a minimum $1000 limit and no annual fee. The benefits aren't quite as good, but they aren't bad.

There is no Capital One Savor foreign transaction fee. All Capital One credit cards have $0 foreign transaction fees. That means you can use the Savor Card anywhere in the world that accepts Mastercard without paying a surcharge. Most credit cards with a foreign transaction fee charge about 3% of any purchase processed internationally.

Just because Capital One Savor's foreign transaction fee is $0 does not mean it's completely free to use. The card has a $95 annual fee beginning the second year your account is open. The Capital One SavorOne Credit Card, on the other hand, has no annual fee and no foreign transaction fee.

Capital One is known for having credit cards with some of the best travel benefits, so it makes sense they'd ensure traveling with your credit card is as easy as possible. On that note, Capital One does not require you to set a travel notification before heading abroad, unlike some other credit card companies.

No. The Capital One Savor Card's $500 bonus is not available. It was a temporary promotion that ended in May 2019. Cardholders had to spend $3,000 within the first 3 months after opening an account to receive the bonus. It's not clear whether the $500 promotion will ever come back.

Although you can't get a $500 bonus with Capital One Savor, the card's current bonus is still substantial. Right now, you can get $300 for spending $3,000 in the first 3 months. Even though that's lower than the old bonus, it's still one of the best cash bonuses on the market. Plus, the bonus can help cover the cost of the card's $95 annual fee for a few years.

The biggest differences between the Capital One® Savor® Cash Rewards Credit Card and the Capital One SavorOne Cash Rewards Credit Card are that the first comes with more generous rewards while the latter has $0 annual fee. Both cards require good or excellent credit, and neither charges a foreign transaction fee. Which you get really depends on how much you plan to charge to the card, especially in its bonus categories.

The Capital One® Savor® Cash Rewards Credit Card offers a larger initial bonus – $300 after spending $3,000 in the first 3 months – and a higher earning rate on dining and entertainment purchases (4% cash back). The Capital One SavorOne Cash Rewards Credit Card's initial bonus is $200, after spending $500 in the first 3 months, and it gives 3% cash back on dining and entertainment. Both cards offer 2% cash back at grocery stores and 1% on all other purchases.

The Capital One® Savor® Cash Rewards Credit Card's extra rewards come at a cost, however. This card charges a $95 annual fee. Capital One SavorOne Cash Rewards Credit Card's annual fee is $0, and it even offers 0% for 15 months as an intro APR for purchases. The Capital One® Savor® Cash Rewards Credit Card does not offer an introductory APR.

Overall, the Capital One® Savor® Cash Rewards Credit Card is a better card if you don't mind paying the annual fee. You'll have to spend almost $200 - $800 a month just to cover the cost of the annual fee, depending on what you purchase. But it's worth it for bigger spenders. If that's going to be a problem, the Capital One SavorOne Cash Rewards Credit Card is the best choice.

The Capital One Savor bonus is $300 for spending $3,000 within 3 months of opening an account. Once a new cardholder meets the spending requirement, they will receive the bonus within 2 billing periods. Savor's rewards can be redeemed for a statement credit, a check or gift cards.

The spending requirement for the Capital One Savor bonus is quite high, but the bonus is a 10% return on what you spend. The card has an annual fee of $95. So if you qualify for the initial bonus, that alone will cover the cost of the annual fee for the next three years. By the way, the bonus is a one-time offer for new Savor accounts, so it's not possible to earn the bonus twice.

The Capital One Savor bonus of $300 is the highest among similar cash back cards. American Express Blue Cash Preferred comes with a bonus of $300. The spending requirement is only $3,000 in the first 6 months. If you prefer not having to pay an annual fee, consider the Capital One SavorOne card. It comes with a sign up bonus of $200 after you spend just $500 in the first 3 months.

Capital One Savor vs. Venture pits a cash back card against a travel rewards card. Capital One Savor offers 4% cash back on dining and entertainment, 2% cash back at grocery stores, and 1% cash back on all other types of purchases. The Venture card gives 2 miles per $1 spent on all purchases. Venture's miles are worth 1 cent each toward travel. Both cards charge a $95 annual fee.

Both cards come with an attractive signup bonus. Savor gives $300 after you spend $3,000 in the first 3 months. Venture offers 60,000 miles when you spend $3,000 in the first 3 months. That's worth up to $600 when redeemed toward travel. There are no introductory 0% APR offers available for either card. The regular APRs are also pretty high.

Each card comes with a wealth of benefits such as travel accident insurance, roadside assistance, extended warranty protection and more. Neither card charges a foreign transaction fee. So you can use either card for purchases abroad without having to pay a surcharge.

At the end of the day, Capital One Venture is the obvious choice for frequent travelers. But if you're a big spender on dining and entertainment and don't travel much, then go with the Savor card.

You can apply for the Capital One Savor online.

Alternatively, you can apply in a Capital One branch or by calling 800-695-5500.

No matter how you do it, your application is taken into account for instant approval. You'll need your personal information and the application will result in a hard inquiry, so that's a slight dent in your credit score, for a short while.

You cannot use your Capital One Savor instantly after approval.

Generally it can take up to 10 business days from the time you're approved to receive your new card. Unfortunately, you wouldn't be able to use your card until you receive and activate it due to security purposes.