Savor Cash vs. Amex Cash Magnet Credit Card Comparison

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Both the Capital One Savor Cash Rewards Credit Card and the American Express Cash Magnet Card offer cash back rewards without annual fees, paired with introductory APR offers. The Savor Cash is best if you are prioritizing cash back in specific categories, such as entertainment and dining.

However, the Amex Cash Magnet offers a flat cash back rate on all purchases, which could be beneficial for those seeking straightforward rewards. While neither card is co-branded, each provides unique benefits that cater to different preferences.

Capital One Savor Cash Rewards Credit Card

American Express Cash Magnet® Card

MoneyGeek Rating

4.7/ of 5

MoneyGeek Rating

4.3/ of 5

Rates & Fees

REVIEW & APPLY

On Issuer's Site

REVIEW & APPLY

On Issuer's Site

Regular APR
19.49% - 29.49% variable
18.99% – 29.99% variable
0% APR Offer
0% for 15 months on purchases
0% introductory APR for the first 15 months
Intro Offer
Earn $200 cash bonus
Earn $150 statement credit
Rewards Summary
Earn 1%–8% cash back
Earn 1.5% cash back
Balance Transfer Offer
0% for 15 months on balance transfers
0% introductory APR for the first 15 months
Balance Transfer Fee
5% of each transfer ($5 minimum)
Either $5 or 3% of the amount of each transfer, whichever is greater
Annual Fee
$0
$0
Recommended Credit
670–850 (good to excellent)
670–850 (Good to Excellent)
Penalty APR
Up to 29.99% (variable)
29.99%
Not sure?
The Savor Cash outpaces the Amex Cash Magnet Card with higher cash back rates in dining, entertainment and grocery stores, plus it has no foreign transaction fees. However, the Amex Cash Magnet offers a consistent 1.5% cash back on all purchases and may have a lower balance transfer fee. Choose the Savor Cash for bonus categories or the Amex Cash Magnet for flat-rate rewards.

Which Card Is Better for You?

You might prefer the Savor Cash if you spend a lot on dining, entertainment and travel. With this card, you'll earn higher cash back in these categories, and there are no foreign transaction fees, making it great for international travelers. Booking hotels and rental cars through Capital One Travel can yield even more rewards.

You might prefer the Amex Cash Magnet if you value simplicity. This card offers a flat 1.5% cash back on all purchases, which means you don't have to keep track of categories or sign-ups. Plus, you can take advantage of Amex Offers for additional savings on shopping, dining and travel.

Head-to-Head Comparison: Card Details and Features

Evaluating APRs, fees, credit requirements, rewards and other features helps you decide which card suits you best. For instance, if dining and entertainment are major expenses for you, Savor Cash's higher cash back in these categories might be more beneficial. Conversely, if you prefer a simple cash back rate on all purchases, the Amex Cash Magnet could be a better choice.

Regular APR: Amex Cash Magnet

The Amex Cash Magnet offers a slightly lower starting APR, making it marginally better for those concerned with Regular APR rates.

Annual Fee: Tie

Both the Savor Cash and the Amex Cash Magnet have no annual fee.

Introductory 0% APRs: Tie

Both cards offer a 0% introductory APR on purchases and balance transfers for the first 15 months. However, the Amex Cash Magnet has a lower balance transfer fee of either $5 or 3% of each transfer, whichever is greater, compared to Savor Cash's 5% fee ($5 minimum).

Rewards: Savor Cash

The Savor Cash card is better for rewards, offering 8% cash back on Capital One Entertainment, 5% on hotels and rental cars booked through Capital One Travel and 3% on dining, entertainment, streaming services and groceries (excluding superstores). In contrast, the Amex Cash Magnet card offers unlimited 1.5% cash back on all purchases.

Welcome Offers: Savor Cash

The Savor Cash is better for welcome offers, providing a $250 cash back bonus after a $500 spend in the first three months, compared to the Amex Cash Magnet's $150 statement credit after spending $1,000 in the same period.

Recommended Credit Score: Tie

Both cards require a credit score range of 670 to 850 (good to excellent credit).

Penalties and Fees: Savor Cash

When comparing penalties and fees, the Savor Cash card is more favorable due to its 0% foreign transaction fee, unlike the Amex Cash Magnet which charges 2.7%. Both cards have similar late fees and cash advance fees.

Issuer Satisfaction: Amex Cash Magnet

American Express leads in issuer satisfaction with a rating of 5, compared to Capital One's 4.2.

Other Features & Perks: Tie

Both cards offer unique perks. The Savor Cash provides benefits for entertainment and travel, including 10% cash back on Uber & Uber Eats, 8% on Capital One Entertainment and 5% on travel booked through Capital One. The Amex Cash Magnet offers travel assistance through the Global Assist Hotline, car rental loss and damage insurance and exclusive Amex Offers for shopping, dining and travel.

Rewards Comparison

The Savor Cash card leads with a tiered rewards system, offering up to 8% cash back on entertainment and 5% on travel booked through Capital One, 3% back on dining, streaming services and groceries. This makes it a strong contender if your budget is focused on these categories.

On the other hand, the Amex Cash Magnet card's flat 1.5% cash back on all purchases could be appealing if you prefer a straightforward rewards program without having to track category bonuses. While the Savor Cash card may offer better rewards for some, the Amex Cash Magnet card's most compelling feature is its uniform cash back rate, which could be advantageous for purchases outside of the Savor's bonus categories.

Please refer to the following table for a detailed comparison of the bonus categories for each card.

Category	Savor Cash	Amex Cash Magnet
Capital One Entertainment	8%	1.5%
Dining	3%	1.5%
Entertainment	3%	1.5%
Streaming Services	3%	1.5%
Groceries	3%	1.5%
Superstores and Wholesale Clubs	1%	1.5%
Travel	5% (hotels and rental cars, if booked through Capital One Travel portal)	1.5%
All Other Purchases	1%	1.5%

Redeeming Rewards

The Amex Cash Magnet offers redemption for cash back as a statement credit, merchandise or gift cards, with the assurance that your cash back never expires. Similarly, the Savor Cash allows you to redeem cash back upon request in various forms, including statement credits or checks, with no expiration for the life of the account.

Methodology

MoneyGeek assesses credit cards like the Savor Cash and Amex Cash Magnet based on their performance. For this comparison, both cards are assessed based on the cash back rewards.

The largest factors in their cash back scores are the value of the rewards program and the benefits of introductory offers. These elements, and annual fees and issuer satisfaction, form a comprehensive score reflecting each card's strengths.

FAQ: Savor Cash vs. Amex Cash Magnet Card

What are the cash back rewards for each card?

The Savor Cash offers 3% on select categories, while the Amex Cash Magnet provides 1.5% on all purchases. Both are among the best cash back cards.

Do either of the cards have an annual fee?

No, both cards come with a $0 annual fee.

What are the introductory APR offers for these cards?

Both cards offer 0% introductory APR for 15 months on purchases. The two cards are among the best cards for introductory APR offers.

Are there foreign transaction fees for either card?

The Savor Cash is one of the best cards for no foreign transaction fees, while the Amex Cash Magnet charges 2.7%.

Can I earn rewards on groceries with both cards?

Yes, Savor Cash offers 3% and Amex Cash Magnet offers 1.5% on groceries.

About Doug Milnes, CFA

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Capital One Savor Cash Rewards Credit Card vs. American Express Cash Magnet® Card