2020 Capital One Savor Review

John S Kiernan, Managing EditorJun 25, 2020

This content is not provided or commissioned by any issuer. Opinions expressed here are the author’s alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. Capital One is a WalletHub partner.

EDITOR’S RATING

5.0 / 5

PROS

$300 Initial Bonus
4% Cash Back on Dining and Entertainment
2% Cash Back at Grocery Stores

CONS

High Regular APR
Average Base Rewards Rate

Capital One Savor Review Summary

The Capital One® Savor® Cash Rewards Credit Card is the best credit card for dining and entertainment rewards. It offers 4% cash back in those purchase categories, to go along with 2% cash back at grocery stores and 1% back on everything else. The Savor Card also gives an initial bonus of $300 to new cardholders who spend at least $3,000 within 3 months of opening an account. That’s enough to cover the cost of the card’s annual fee ($95) for several years.

The Capital One Savor Cash Rewards Credit Card was built for rewards, as its name suggests, so it’s best when cardholders pay their bill in full by every due date. The card’s regular APR is pretty high, ranging from 15.99% to 24.99% (V), and there isn’t a low introductory rate to save you money initially.

The Savor Card also is best for relatively high spenders. You need to charge an average of $1,000 per month for three months to earn the initial bonus, for starters. If you don’t, you’ll need to spend at least $2,375 annually in order to break even from the second year on. People who don’t expect to spend enough to take full advantage of the Capital One Savor Card may instead want to consider its sister card, Capital One SavorOne Cash Rewards Credit Card, which has slightly lower rewards rates but is more accessible. Both cards require at least good credit for approval.

Below, you can learn more about the Capital One Savor Card to see whether the savings it offers should be on your menu.

Capital One Savor Review Highlights

$300 Sign-up Bonus

Spending $3,000 in the first three months you have the Capital One Savor Card will earn you its $300 initial bonus (provided that you haven’t earned it before). The bonus will be credited to your account within two billing cycles of when you meet the initial spending requirement.

This is a good deal to go after if you’re planning to spend enough to qualify, anyway. The Savor Card’s initial bonus is about twice the average among cash rewards credit cards and one of the biggest cash bonuses available from any credit card right now.

4% Cash Back on Dining & Entertainment

Capital One Savor is the best credit card for dining and entertainment because it offers unlimited 4% cash back on qualifying purchases. The list is not limiting, either. Places known primarily as dining establishments qualify for the Savor Card’s 4% rewards rate. Other qualifying purchases include tickets to plays, concerts, professional sporting events, and movies at the theater. Paying to enter tourist attractions, amusement parks, zoos and aquariums counts, too. Same goes for bowling alleys, dance halls and pool halls. Also eligible are purchases made at record stores and video rental stores (wherever you can find them!).

Solid Secondary Rewards

In addition to bonus rewards on dining and entertainment purchases, the Savor Card gives 2% cash back at grocery stores (not including super stores or warehouse clubs). All other purchases – those in non-bonus spending categories – produce 1% cash back. For context, the average cash rewards card offers about 1% back on all purchases.

No Foreign Transaction Fees

If life takes you abroad, whether for an international culinary adventure or any other reason, the Capital One Savor Card won’t penalize you with a foreign surcharge for spending money along the way. The average credit card, on the other hand, charges a fee equal to roughly 1.46% of each purchase processed outside the U.S. The fact that Savor is a Mastercard also means you’ll be able to use it anywhere in the world that accepts credit cards.

Easy Rewards Redemption

You can redeem the cash back rewards that you accrue with this card via statement credit or check. Plus, you’re able to redeem on demand or automatically once your earnings reach a certain threshold or a certain date rolls around. Gift cards are another redemption option for Savor cardholders, but cash is a lot more valuable.

Capital One Savor Review Lowlights

$95 Annual Fee

The Capital One Savor Card will cost about five times more per year than the average credit card just to own for 12 months. That alone could scare away some prospective applicants, but you have to consider the value of all the rewards and benefits that fee unlocks. And in terms of total net return, Capital One Savor definitely is in the top tier.

High Regular APR

The Capital One Savor Card’s APR ranges from 15.99% to 24.99% (V). That doesn’t compare too favorably to applicable market averages. The average credit card for good credit has a 19.28% APR, according to WalletHub’s research, while the average card for excellent credit charges 13.03%. So, plan to pay your bill in full every month.

Average Base Rewards Rate

Purchases that don’t qualify for Capital One Savor’s bonus rewards rates yield just 1% cash back. That’s everything except dining and entertainment purchases and purchases made at grocery stores. And that’s important for a few reasons: The average cash rewards card offers 1.07% back on all purchases; several credit cards for people with good credit offer 1.5% cash back on all purchases; and others give higher returns in popular purchase categories besides dining, entertainment and grocery stores. So if you want to be really strategic, consider using Capital One Savor as part of a multi-card approach.

What Else Should You Know Before Applying for Capital One Savor?

Limited-Time Perks: Cardholders will earn 8% cash back on ticket purchases made via Vivid Seats through January 2022.
Tap to Pay: The Savor Card’s contactless feature allows cardholders to complete some purchases by hovering the card near a payment terminal. The terminal has to be properly equipped, though.
Good Credit or Better Required: You need a credit score of 700 or higher, along with enough income to afford monthly bill payments, to have good odds of being approved for the Capital One Savor Card. You can check your latest credit score for free on WalletHub.
Bonus Rewards Depend on Merchant Categorization: Whether or not a particular purchase qualifies for one of the Capital One Savor Card’s bonus rewards rates ultimately depends on its merchant category code. That’s standard, and it shouldn’t lead to purchases that deserve to be eligible not getting credit. There isn’t really anything you can do about it, either. But it’s good to know that Capital One doesn’t have some long list of specific stores and other retailers that do and don’t make the cut for customers to consult.

Compared to the Competition

Capital One Savor isn’t the only credit card with great rewards. There are lots of attractive options right now. To help you make the right decision for your wallet, we’ll compare Capital One Savor to three of the most popular alternatives.

	Capital One® Savor® Cash Rewards Credit Card	Sponsored Capital One SavorOne Cash Rewards Credit Card	Sponsored Capital One Quicksilver Cash Rewards Credit Card	Sponsored Chase Sapphire Preferred® Card
Annual Fee	$95	$0	$0	$95
Rewards Bonus	$300	$200	$200	60,000 points
Rewards Rate	1 - 4% Cash Back	1 - 3% Cash Back	1.5% Cash Back	1 - 2 points / $1
Purchase Intro APR	N/A	0% for 15 months	0% for 15 months	N/A
Transfer Intro APR	N/A	N/A	N/A	N/A
Regular APR	15.99% - 24.99% (V)	15.49% - 25.49% (V)	15.49% - 25.49% (V)	15.99% - 22.99% (V)
Editors' Rating	5.0 / 5	4.8 / 5	4.4 / 5	4.8 / 5
Details, Rates & Fees	Learn More	Learn More	Learn More	Learn More
Winners	Capital One® Savor® Cash Rewards Credit Card		Chase Sapphire Preferred® Card

Questions & Answers (31 questions)

What is the Capital One Savor credit score requirement?

Upvotes

FRANKIE SOLOMON

@solosolosolo

Capital One Savor's credit score requirement is 700 or higher. That means you need good credit or better to get Capital One Savor, in most cases. Some applicants report Savor card approval with credit scores below 700, 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 Savor card, consider pre-approval. Capital One allows you to go online and assess your chances of approval without any effect on your credit score.

Is Capital One Savor a Visa or Mastercard?

Upvotes

ASHLEY WADE , Tech Girl

@shlee

Capital One Savor is a Mastercard, not a Visa. Savor 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 Mastercard's wide global acceptance. And there's no foreign transaction fee. That means you'll be able to use the Savor 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 Savor 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, Capital One Savor offers 4% cash back on dining and entertainment purchases. It also gives 2% cash back at grocery stores.

View more answers

What's the Capital One Savor credit limit?

Upvotes

Bobby Jones

@bobbyj_35

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.

View more answers

What is the Capital One Savor foreign transaction fee?

Upvotes

Marshall Jamieson , Finance Pro

@bergman77

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.

Is there a Capital One Savor bonus?

Upvotes

JAMIE THOMPSON , Retired Accountant

@ExTaxMan

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.

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