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capital-one

Capital One® Savor® Cash Rewards Credit Card

Credit needed
Excellent, Good
APR
15.99% to 21.49%
Annual Fee
$95

Card Summary

Capital One Savor Cash Rewards Credit Card has a huge sign-up bonus as well as a great rewards rate for dining out and entertainment. Vivid Seats will offer a 8% cashback rate for tickets purchased through the card until January 31, 2022. Annual fees for the card are $95.

To complement the rewards program, Capital One Savor Cash Reward Credit Card cardholders get a few perks. You'll have access to top-quality culinary experiences and reservations at select restaurants. Access to VIP packages for music and sports events is also included.

Capital One offers virtual card numbers to help protect your credit card details when you shop online. If you lose your card, you can lock it with the Capital One mobile app. You'll also get extended warranty coverage and price protection.

The card might not be worth much if you do not spend a lot on entertainment and dining. The card offers 3% cashback at grocery stores, but only 1% for most purchases. The card's annual percentage rate (APR) is either 15.99%, 21.49%, or 24.99% depending on creditworthiness. This may make it less attractive if your balances fluctuate from month to month.

The Capital One Savor cash Rewards credit card review:

If you spend a lot of money on entertainment or dining, this card might be a good choice. Consumers whose spending patterns don't match the rewards offered by the card might find the card less valuable.

The pros:

This bonus is a great introductory offer.

Get unlimited cashback on entertainment and dining. Vivid seats offers 8% Cash Back on tickets through January 31, 2022.

Card Summary - Cons

Annual fee.Potentially high APROnly 1% of nonbonus purchases earn you cash backThis is a great place to be:People who spend lots on entertainment or eating out.For cardholders looking for a large sign-up bonusCustomers who are willing to pay an annual feeIt's not great for:People who do not spend much on their card's bonuses categoriesConsumers who are not interested in paying feesBalance carriers.

Rates and fees

Issuer Name
Capital One
Penalty APR
None
Credit Needed
Excellent, Good
Balance Transfer Fee
3%
Annual Fee
$95
Cash Advance Fee
You can choose to pay $10 or 3% on each cash advance amount, depending on which is higher.
APR
15.99% to 21.49%
Foreign Transaction Fee
N/A

Highlights

Unlimited 4% cash back on dining and entertainment, 2% on groceries (except superstores such as Walmart or Target), and 1% for all Other Purchases.

Once you have spent $3,000 within three months of account opening, you will receive a $300 cash bonus. Through January 31, 2022, earn 8% cashback on tickets at Vivid seats using your Savor Card.

No foreign transaction fees. You can get cash back at any price and your rewards won't be lost. Additional warranty coverage is available for eligible products purchased using your credit card.

Capital One Savor Cash Rewards Cards: How to Get Rewards?

Annual rewards valued at approximately $420. Value of the first-year cashback bonus: $300. Value of first-year incentives: $720.

You get 4% cashback on entertainment and dining, and 3% cashback at grocery stores. All other purchases are eligible for 1% cashback. Vivid seats tickets will earn you 8% cashback until January 31, 2022.

There is an annual $95 fee for the Capital One Savor Cash Rewards credit card. To ensure that the annual fee is worth it, you will need to perform some calculations. To avoid interest penalties from affecting your cash back rewards, make sure you pay your entire balance each month.

Comparative Analysis with Other Cards

Capital One SavorOne cash rewards credit card vs. Capital One SavorCash Rewards credit card

Capital One SavorOne cash rewards credit card might appeal to consumers who are not afraid of paying an annual fee. Based on creditworthiness, the Capital One Savor Rewards Credit Card charges an annual fee of 15, 21.49% and 24, 99.9%.

The Capital One Savor Cash Rewards credit card may be worthwhile if you are a frequent shopper for entertainment and dining. The Capital One SavorOne cash rewards credit card holders get unlimited 3% cashback on entertainment and dining, and 3% at grocery shops (except superstores such as Walmart and Target). They also receive 1% for all purchases.

Capital One Savor Rewards Credit Card holders are eligible to receive unlimited 4% cashback on entertainment and dining, and 3% at grocery shops (with the exception of superstores such as Walmart and Target), along with 1% for all other purchases.

Capital One Savor Cash Rewards Credit Card vs. Chase Freedom Unlimited Cash back

Rewards can be earned on both cards in a wide range of areas. Capital One Savor Cash rewards Credit Card offers unlimited cash back of 4% on entertainment and dining, and 3% on grocery store purchases (except superstores such as Walmart or Target).

All other purchases are eligible for 1%. Chase Freedom Unlimited receives 5% cashback on travel purchases made through Chase Ultimate Rewards. There is also a 3% cashback on purchases at restaurants and pharmacies and 1.5% cashback on all purchases.

When deciding whether or not to apply for credit cards, consumers should consider their potential spending patterns and the annual fees. Chase Freedom Unlimited charges $0 annually, while the Capital One Savor Cash Rewards Credit Card comes with a $95 per year fee.

Conclusion

The 2017 U.S. Bureau of Labor Statistics Consumer Expenditure survey provides average data. These values are used to calculate the spending categories. The nearest $100 is used to round each category.

Spend $3,000 within the first three months of account opening to increase your cashback rewards. A $300 bonus cash bonus will be given to you if you fulfill the spending requirements. This incentive is good for more than 3 years of card annual fees.

Capital One Savor Cash Rewards card: How do I redeem my rewards?

The cardholder can receive their cash in the form either a statement credit, or a check. This is available for all amounts and anytime. You can ask for automatic redemptions if you do not want to track your rewards or decide when you wish to redeem them. Reward points can be used to buy gift cards or statement credits for specific purchases.

How much is Capital One Savor Cash Reward Credit Card's Annual Percentage Rate?

Based on creditworthiness, the card has an APR of 15, 21.49%, or 24, 99.99%. There is no promotional introductory 0% APR on balance transfers or purchases. According to U.S. News, the APR for this card is higher than average. It's therefore important that you pay all your monthly balances in full to avoid interest.

Capital One SavorOne cash rewards credit card may offer a 0% introductory APR for purchases up to 15 months. After that you can choose from 14.99% - 24.99% variable rates.

How much does the Capital One Savor cash Rewards credit card cost?

Annual Fee: This card has an annual fee that is $95. According to U.S. News, almost 70% of credit cards do not charge an annual fee. However, of those that do, their average annual fee amounts to nearly $110.

Foreign Transaction Fee: The card does not charge foreign transaction fees, making it one of the 39% that do waive them. Capital One does not charge balance transfer fees. Balances are transferred at the transfer rate. If you have a promotional APR, however, balance transfers are subject to a 3% fee.

Late Fee: A late fee can be up to $40Comparative Analysis with Other Cards.

Do you need the Capital One Savor cash Rewards credit card?

If you are:

Looking for a huge sign-up bonus?

You can spend a lot of money on entertainment and dining. Don't be concerned about the annual fee. Each month, pay your entire balance.

Questions about the Capital One SavorOne Rewards Credit Card

Does the Capital One Savor Rewards Credit Card offer good value?

Capital One Savor Cash Reward Credit Card is a good choice for those who eat out frequently or enjoy entertainment. It also offers higher rewards than average. However, there's an additional $95, which is an expensive annual fee. The APR can be high so this card is not for everyone.

Which credit score is required for Capital One Savor Cash Reward Credit Card?

Capital One Savor Rewards Credit Card requires good or excellent credit. You may not get approved for this card if you do not have a minimum 670 FICO score.

What is the best way to redeem my Capital One Savor Cash Rewards Credit card points?

Capital One Savor cash rewards credit card cashback can be redeemed as statement credit, or check. You can also set up automatic redemptions to be sent when your rewards balance exceeds a specified threshold, or at a particular time of the year. You can redeem your rewards as gift certificates.

What is the Capital One Savor Rewards Credit Card? Is it a Visa or Mastercard card?

Capital One Savor Cash Rewards Credit Card is a Mastercard.

Note: Credit Card summary is for informational purposes only and is not an endorsement of the product. Products and services described are offered by third parties and not Bright Money or its partner banks. Bright Money strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider, or specific product’s site and the information has not been reviewed or provided by the issuer of the product before publication.

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