2021 Capital One Savor Review

The Capital One Savor 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 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 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'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 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 offers 4% cash back on dining, entertainment purchases and streaming services. It also gives 3% cash back at grocery stores.

The Capital One Savor credit limit will be based on your creditworthiness once your application has been approved. When determining credit limits, factors such as your debt-to-income ratio, repayment history and the length of your credit history will play a significant role.

Unfortunately, there's no surefire way of knowing your Capital One Savor credit limit before applying and getting approved. Keep in mind that Capital One Savor requires at least good credit for approval, so make sure you know where you stand before applying.

If you're not happy with the limit you receive, you can apply for an increase online once you've made payments on time for several months. Capital One uses soft pulls for these credit inquiries, so requesting a Capital One Savor credit limit increase won't affect your credit score.

The Capital One Savor foreign transaction fee is $0. All Capital One credit cards benefit from $0 foreign transaction fees. That means you can use the Capital One Savor 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 features a $95 annual fee. The Capital One SavorOne Cash Rewards Credit Card, on the other hand, has a $0 annual fee, while also benefiting from a $0 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. Just make sure you keep your contact information updated while traveling abroad in case Capital One needs to reach you.

No, the Capital One Savor's $500 bonus is not available anymore. 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. This card's bonus is one of the best cash bonuses on the market. Plus, it 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 features a $0 annual fee. Both cards require good credit or better (700+), and both feature a $0 foreign transaction fee. Which you get really depends on how much you plan to charge to the card, especially in its bonus categories.

Here are the differences between the Capital One Savor and Capital One SavorOne:

• Initial bonus: Capital One Savor offers $300 for spending $3,000 in the first 3 months. Capital One SavorOne offers $200 for spending $500 in the first 3 months.
• Ongoing rewards: Capital One Savor earns 4% cash back on dining, entertainment and popular streaming services, 3% back at grocery stores and 1% back on all other purchases, as well as 8% back on tickets at Vivid Seats through January 2023. Capital One SavorOne earns 3% cash back on dining, entertainment, popular streaming services and grocery store purchases, 1% back on all other purchases, as well as 8% back on tickets at Vivid Seats through January 2023.
• Interest rates: Capital One SavorOne benefits from an introductory purchase APR of 0% for 15 months (15.49% - 25.49% (V), based on the specifics of your credit, thereafter). Capital One Savor has a regular APR of 15.99% - 24.99% (V), determined according to the specifics of your credit.
• Cash advances: Capital One Savor cash advances accrue interest immediately at an APR of 24.99% (V) - each cash advance is subject to a 3% (min $10). Capital One SavorOne cash advances accrue interest immediately at an APR of 25.49% (V) - each cash advance is subject to a 3% (min $10).
• Annual fees: Capital One SavorOne features a $0 annual fee. Capital One Savor charges a $95 annual fee.

Overall, the Capital One® Savor® Cash Rewards Credit Card is a better option if you don't mind paying the annual fee. The initial bonus alone offsets the annual fee, so if you think you meet its spending requirements and spend enough to benefit from its ongoing spending rewards, Capital One Savor will serve you well. If you don't plan on spending as much, or want to finance a purchase, the Capital One SavorOne is the better 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 $150. 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 50,000 miles when you spend $3,000 in the first 3 months. That's worth up to $500 when redeemed toward travel. Or you can get 100,000 miles for spending $20,000 within the first 12 months. 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.