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The Capital One® Savor® Rewards credit card is a cashback card with big earning potential. Offering unlimited 4% back on dining, entertainment, and streaming, this card boasts big rewards for fun seekers and foodies. However, the $95 annual fee and lack of 0% APR period may turn some borrowers away, especially compared to similar Capital One card offerings.
Quick Review
There’s no doubt that Capital One® Savor® Rewards offers one of the most robust rewards programs on the market. You can get:
- 4% back on dining, streaming, and entertainment
- 3% back on groceries
- 1% back on everything else
- 5%–8% cash back on Capital One Travel and Entertainment bookings
- $300 bonus cash when you spend $3,000 in your first 3 months
Not to mention, these rewards are unlimited and nonrotating. Similar rewards cards rotate these categories, so you can’t earn cash back on, say, dining and groceries at the same time. Similarly, a lot of high-percentage cashback programs put caps on earning potential each quarter.
The Capital One® Savor® Rewards is free of both these restrictions, making it an easy card to earn cash back on.
On the downside, the Capital One® Savor® Rewards has an expensive annual fee of $95, potentially high APR of 18.99%–26.99% (variable), and doesn’t offer an introductory 0% APR period. Because of the lack of a no-interest offer, we don’t recommend this card for anyone who needs to consolidate credit card debt or pay off large expenses over time.
But if you’re not worried about interest, and can earn enough in rewards to make up for the high annual fee, the Capital One® Savor® Rewards is a lucrative cashback card worth considering.
Capital One® Savor® Rewards Important Details
Basic Card Details
- Annual fee: $95
- Purchase APR: 18.99%–26.99% (variable)
- Rewards rate: 1%–8%
- Welcome bonus: $300
Additional Information
- Earn 5% cash back on hotels and car rentals booked through Capital One Travel
- Earn 8% cash back on events booked through Capital One Entertainment or Vivid Seats
- No foreign transaction fees
- Capital One benefits such as concierge service, travel accident insurance, and extended warranty protection
- Virtual card numbers and account alerts from Eno
- Free credit scores and credit tracking with CreditWise
- Manage your account through the Capital One mobile app
Capital One® Savor® Rewards Feature Breakdown
Let’s look at the key features of the Capital One® Savor® Rewards card to determine how well it fits your borrowing needs.
Fees
- Annual fee: $95
- Cash advance fee: $10 or 3% (whichever is greater)
- Balance transfer fee: 3% at any promotional transfer APR; $0 at regular transfer APR
- Late fee: Up to $40
- Foreign transaction fee: None
Interest Rates
- Purchase APR: 18.99%–26.99% (variable)
- Cash advance APR: 25.49% (variable)
- Balance transfer APR: 18.99%–26.99% (variable)
Capital One’s credit card interest rates tend to run high. As this card doesn’t benefit from a 0% APR period, it’s not a good choice if you’re likely to carry a balance from month to month, as interest charges could quickly stack up.
Rewards
The main draw of the Capital One® Savor® Rewards card is its impressive unlimited cashback rewards program. Here’s how it works:
- 8% cash back on Capital One Entertainment and Vivid Seat ticket purchases
- 5% cash back on Capital One Travel car rental and hotel bookings
- 4% back on dining, streaming, and entertainment
- 3% back on groceries
- 1% back on everything else
While the rewards program is generous, it has to be weighed against the $95 annual fee. In order to earn enough cash back to break even with the fee, here’s what you would need to spend in a year in one of the rewards categories:
- Dining, streaming, entertainment: $2,375
- Groceries: $3,167
- Regular purchases: $9,500
However, you’ll likely be making purchases in all of these categories, meaning the thresholds will change as you mix and match rewards rates. The question is whether you earn enough to offset the annual fee, while getting more cash back than you could with a no-annual-fee credit card.
Welcome Bonus
The Capital One® Savor® Rewards card has a welcome bonus of $300 if you spend $3,000 in your first three months of borrowing. This is a fairly robust bonus, but requires a relatively high threshold to earn it. As the bonus is one of the main pros of the credit card, you should only consider opening an account if you know you can meet the $3,000 spending minimum in the allotted time.
Cash Advance
The Capital One® Savor® Rewards allows for cash advances. A cash advance is when you withdraw cash from your credit card, such as through an ATM or money order.
The cash advance APR is high, and the fee can quickly stack up, so we wouldn’t recommend using this card for money withdrawals.
Balance Transfers
While balance transfers are allowed on the Capital One® Savor® Rewards card, they come at the cost of high APR. If you need to transfer a balance in order to pay off credit card debt, consider getting a 0% APR credit card instead.
Travel Benefits
The Capital One® Savor® Rewards makes a great travel card, as Capital One waives foreign transaction fees. Additionally, you can book hotels and car rentals through Capital One Travel to get 5% cash back on your purchase.
Capital One also offers the following travel benefits:
- Travel accident insurance
- 24/7 concierge service
- Travel assistance services
- Price match through Capital One Travel
You can also redeem the rewards you earn on your Capital One® Savor® Rewards to directly pay for travel purchases.
Credit Reporting
Capital One reports to major credit bureaus each month, meaning your Capital One® Savor® Rewards account activity will be used to keep your credit report up to date.
Should You Get the Capital One® Savor® Rewards?
FinanceJar verdict
The Capital One® Savor® Rewards card offers great cash back earning potential and the usual host of Capital One benefits. However, there are other Capital One rewards cards that boast similar rewards and benefits without the annual fee.
If your cash back makes up for the annual fee and then some, the card may be worth consideration. However, the lack of 0% APR means no one looking to transfer a balance or pay off a major purchase should get this card.
Who is this card for?
- Fun seekers: If you can benefit from the 4% cashback rate on dining, streaming, and entertainment, this card may be worthwhile. Better yet, you can earn 8% cash back if you book event tickets directly through Capital One or Vivid Seat.
- Families: Considering the cashback rewards—especially the 3% back on groceries—the $95 annual fee may easily be worth it if this card is financing a family’s expenses. Unlike many high-rate rewards cards, the Capital One® Savor® Rewards doesn’t cap rewards, so you have unlimited cashback earning potential.
Comparable Cards
See how the Capital One® Savor® Rewards stacks up against similar cards on the market to decide if it’s the right choice for you.
