Capital One Savor Cash Rewards Review: Big Rewards on Tabletops and Ticket Booths

The Capital One Savor Cash Rewards credit card caters to foodies and entertainment enthusiasts, providing generous and unlimited cash back on dining, entertainment and grocery stores. Its high rewards and welcome bonus can earn you a considerable chunk of change, even after you account for the card’s $95 annual fee.

The Capital One Savor Cash Rewards is a great choice if you're frequently out and about, whether it's to discover new flavors, enjoy a concert or pick up household goods.

With unlimited 4% cash back in dining, entertainment and streaming and 3% cash back at grocery stores, the card can help maximize returns on your everyday spending.

However, its $95 annual fee is a consideration for those who may not spend enough in the bonus categories to offset this cost. It also lacks a 0% intro APR period, which may deter those looking to do a balance transfer or get some flexibility on their upcoming large purchase.

If you want to earn high rewards in the same categories and have a no-interest period with no annual fee, the Savor Cash Rewards' budget-friendly sibling, the SavorOne Cash Rewards, is a strong alternative.

>>MORE: MoneyGeek's Best Cash Back Credit Cards

The Capital One Savor Cash Rewards card lets you earn unlimited 4% cash back on dining, entertainment and popular streaming services. It also offers 3% cash back at grocery stores and 1% on all other purchases.

Here’s how the card defines its bonus categories:

The Savor Cash Rewards' bonus categories are popular among consumers, making it a potentially valuable card for everyday spending. The rewards earned with the card do not expire for the life of the account, and you can redeem them as a check or statement credit for any amount.

The Capital One Savor Cash Rewards is an excellent card for socially active consumers who enjoy new tastes and experiences. Its high reward rate in popular spending categories makes it an attractive option for many.

High Rewards Rate on Dining and Entertainment: With an unlimited 4% cash back on dining and entertainment, this card is a feast for those who enjoy going out. For example, spending $500 monthly in these categories earns you $240 cash back annually. Even if you subtract the card’s $95 annual fee, you still get $145 back from eating out and having fun.

Generous Sign-Up Bonus: The card’s $300 bonus for spending $3,000 in the first three months is one of the highest among cash back cards. It’s effectively a 10% discount on your purchases.

Broad Entertainment Category: From concerts to movies, the card's broad definition of entertainment means your nights out are earning you more.

The Capital One Savor Cash Rewards is not without its drawbacks. Here are a couple of considerations that might lead you to look elsewhere:

Annual Fee: The card comes with a $95 annual fee, which could dampen its appeal for those who spend less money in the card's bonus categories. If you spend less than $2,375 annually on dining and entertainment, you won't earn enough cash back to offset the fee alone.

A no-annual-fee card like the Wells Fargo Active Cash® or the Blue Cash Everyday® can be more suitable if your spending is limited and you just want to get cash back from your everyday purchases.

No Intro APR: Unlike many cash back credit cards, the Savor Cash Rewards doesn’t offer a 0% introductory APR on purchases or balance transfers. This means any balances carried from month to month will immediately accrue interest at a variable rate between 19.99% and 29.99%, which could be costly. So, it won't be a good fit for consolidating outstanding balances or financing upcoming spending.

We compare the Capital One Savor Cash Rewards with similar cash back cards to help you understand how it performs against the competition:

Capital One Savor Cash Rewards vs. Capital One SavorOne Cash Rewards

The SavorOne is the low-cost version of the Savor Cash Rewards, offering no annual fee for slightly lower rewards. It provides unlimited 3% cash back on dining, streaming, entertainment and grocery stores and a $200 welcome bonus. Nonetheless, a 3% reward rate on dining and grocery stores can net you significant savings over time, especially since you don’t have to consider an annual fee for this card. It also comes with a 15-month 0% intro APR on purchases and balance transfers.

Choose the SavorOne if you want a budget-friendly card for dining, entertainment and grocery stores. But you can get more rewards with Savor if you spend over $9,500 annually on dining and entertainment.

Capital One Savor Cash Rewards vs. Blue Cash Everyday® Card From American Express

The Blue Cash Everyday® is a no-annual-fee card that lets you earn 3% cash back at U.S. supermarkets, online shops and gas stations for up to $6,000 per year for each category. There are spending caps, but hitting those limits can still net you $180 for each category. Although it lacks high rewards for dining, it compensates with its 3% cash back on gas stations. If you spend heavily on groceries and gas, the Blue Cash Everyday® is a strong alternative.

Because of its high rewards in select categories, the Capital One Savor Cash Rewards works well with a flat-rate cash back card. You can use the Savor card for dining, entertainment and grocery stores to enjoy its high cash back rate and switch to the other card for all other purchases. This ensures you’re getting the most cash back from your purchases.

A key part of this strategy is to find a card with a higher cash back rate than Savor’s base rate of 1%. Since Savor charges an annual fee, it’s recommended to get a card with no annual fee to minimize the cost.

The Wells Fargo Active Cash® fits the bill, offering unlimited 2% cash back on all purchases and no annual fee. Additionally, it has a 15-month 0% intro APR period on purchases and balance transfers. These features work nicely with the Savor Cash Rewards.

The Capital One Savor Cash Rewards is a prime choice for avid diners and entertainment lovers who can take advantage of its 4% cash back rate to outweigh the $95 annual fee. This card could offer substantial value if your monthly budget includes a significant portion for dining out, movies, concerts or similar activities.

However, you might find a better fit elsewhere if you don't frequently spend on the card's high-reward categories. If dining, entertainment and grocery stores make up much of your budget but are not enough to justify Savor’s annual fee, then the Capital One SavorOne Cash Rewards can be an alternative. Consider your spending habits and financial goals to determine if Savor’s high rewards rate justifies the annual cost for you.

In evaluating the Capital One Savor Cash Rewards Credit Card, MoneyGeek considered a range of factors to determine its Cash Back Score. Here's how we weighted each aspect, with a total of 60 cards reviewed for comparison:

• Rating Effective Reward Rate (50%): This is the most heavily weighted factor, assessing the value of cash back earned per dollar spent. A score of 5 indicates the most rewarding cash back rate.
• Rating Annual Fee (10%): Evaluates the cost of owning the card, where a score of 5 means no annual fee.
• Rating Offer ROI (10%): Looks at the return on investment for introductory offers and bonuses, with a score of 5 representing the highest potential return.
• Rating Intro Purchase (5%): Assesses the value of the introductory 0% APR offer on purchases, with a score of 5 for the best offer.
• Rating Recommended Credit (5%): Indicates the card's accessibility, where a score of 5 suggests availability to a wide range of credit scores.
• Rating Issuer Satisfaction (5%): Based on JD Power issuer satisfaction studies, a score of 5 reflects the highest satisfaction.
• Rating Penalties (5%): Rates penalty fees and rates, with a score of 5 indicating no or minimal penalties.
• Rating Regular APR (5%): Considers the cost of carrying a balance after any introductory periods, with a score of 5 for the lowest APRs.
• Rating Foreign Transaction (5%): Evaluates fees for transactions made abroad, with a score of 5 for no foreign transaction fees.

Our approach ensures a comprehensive and balanced review, aligning with the pros and cons identified for the Capital One Savor Cash Rewards Credit Card.