Oh, hello there! Thinking about getting a new credit card? That's a big decision, and you've landed on a popular choice: the Capital One Savor card. But "how good is it," you ask? That's what we're here to break down for you, step by step, so you can decide if it's the perfect fit for your wallet and your lifestyle.
Let's dive in and unravel the delicious details of the Capital One Savor family of cards!
How Good is the Capital One Savor Card? A Deep Dive into Cash Back for Foodies & Fun-Seekers
The Capital One Savor card (and its no-annual-fee sibling, the SavorOne) is designed for those who love to get rewarded for their everyday experiences, particularly in categories like dining, entertainment, and groceries. If your social calendar is often packed with restaurant reservations, concert tickets, or streaming binges, these cards are definitely worth a closer look.
Let's explore the ins and outs to help you determine if a Capital One Savor card is "good" for you.
Step 1: Discover Which Savor Card is Right for YOU!
Before we even get into the nitty-gritty of rewards, the first crucial step is to understand that there are actually two main versions of the Capital One Savor card that people commonly refer to:
- The Capital One Savor Cash Rewards Credit Card: This is the premium version, known for its higher cash back rates in certain categories, but it comes with an annual fee.
- The Capital One SavorOne Cash Rewards Credit Card: This is the more accessible, no-annual-fee option, offering solid cash back without the yearly cost.
Self-reflection moment: Which sounds more appealing to you right off the bat? Are you someone who spends enough in dining and entertainment to justify an annual fee for higher rewards, or do you prefer a straightforward, no-fee card that still offers good returns on your everyday spending? Keep that in mind as we go through the benefits.
Step 2: Unpacking the Rewards: Where Do You Get the Most Bang for Your Buck?
This is where the Savor cards truly shine for specific spending habits. Both cards focus on rewarding what Capital One calls "food and fun."
Sub-heading 2.1: The Capital One Savor Cash Rewards Credit Card (with Annual Fee)
This card is built for the high-spending foodie and entertainment enthusiast. Its key earning categories are:
- 8% Cash Back on Capital One Entertainment purchases. If you frequently buy tickets to concerts, sports, or other events through Capital One's exclusive portal, this is a phenomenal rate.
- 5% Cash Back on hotels and rental cars booked through Capital One Travel. A decent perk for occasional travel planning.
- 3% Cash Back at grocery stores (excluding superstores like Walmart and Target), on dining, entertainment, and popular streaming services. This is the core appeal for many users, offering strong returns on everyday lifestyle expenses.
- 1% Cash Back on all other purchases. The standard baseline rate.
Consider this: The legacy version of the Savor card used to offer 4% cash back on dining, entertainment, and streaming, with a $95 annual fee. While the current Savor card offers 3% in these categories, it does not have an annual fee. This is a significant change, making the current Capital One Savor card essentially the "SavorOne" of the past, but with a different name. It's important to verify the exact rewards structure and annual fee when you apply, as card details can sometimes evolve. For the purpose of this guide, we'll focus on the current Capital One Savor Cash Rewards Credit Card with its $0 annual fee.
Sub-heading 2.2: The Capital One SavorOne Cash Rewards Credit Card (No Annual Fee)
The SavorOne is an excellent choice for those who want solid cash back without worrying about an annual fee eating into their rewards. Its reward structure is very similar to the current Savor card:
- 8% Cash Back on Capital One Entertainment purchases.
- 5% Cash Back on hotels and rental cars booked through Capital One Travel.
- 3% Cash Back at grocery stores (excluding superstores like Walmart and Target), on dining, entertainment, and popular streaming services. Again, this is a strong, consistent earning rate for a no-annual-fee card.
- 1% Cash Back on all other purchases.
The Key Takeaway for Rewards: Both the current Capital One Savor and SavorOne cards offer the same competitive cash back rates across their key categories. The primary difference between the current Capital One Savor and the SavorOne seems to have largely disappeared, with both now having no annual fee and identical reward structures. This means the SavorOne (or the Savor with its new $0 annual fee) is an incredibly strong contender for anyone who spends heavily on food and entertainment.
Step 3: Beyond the Cash Back: Additional Benefits and Perks
A good credit card offers more than just rewards. Capital One Savor cards come with several useful features that enhance their overall value.
Sub-heading 3.1: Sign-Up Bonuses
Both the Capital One Savor and SavorOne often come with attractive sign-up bonuses. Typically, you can earn a one-time cash bonus (e.g., $200) after spending a relatively small amount (e.g., $500) within the first three months of account opening. This is an easy way to boost your rewards right off the bat.
Sub-heading 3.2: Introductory APR Offers
Many Savor cards offer an introductory 0% APR period on purchases and/or balance transfers for a set number of months. This can be a huge advantage if you have a large purchase planned or if you're looking to consolidate debt from a higher-interest card. Remember, a balance transfer fee usually applies, and a variable APR kicks in after the intro period.
Sub-heading 3.3: Travel & Shopping Protections
While not primarily travel cards, Savor cards can offer some helpful protections:
- No Foreign Transaction Fees: This is a major plus if you travel internationally. You won't incur extra charges when making purchases outside the U.S., making it a good card to carry abroad for your dining and entertainment expenses.
- Extended Warranty Protection: You might get extended warranty coverage on eligible items purchased with your card.
- Auto Rental Collision Damage Waiver: Rent an eligible vehicle with your card, and you could be covered for damage due to collision or theft.
- Travel Accident Insurance & Lost Luggage Reimbursement: When you book trips with your eligible card, you may receive automatic insurance for covered losses and reimbursement for lost luggage.
Sub-heading 3.4: Capital One Digital Tools & Customer Service
- Capital One Mobile App: Easily manage your account, pay bills, view transactions, and track your rewards on the go.
- Virtual Card Numbers (Eno): For enhanced online security, Capital One offers virtual card numbers, so your actual card details aren't exposed when shopping online.
- 24/7 Customer Service: Access to round-the-clock support for any account inquiries.
Step 4: Who Is This Card "Good" For? Understanding the Ideal Cardholder
Now that we've laid out the features, let's identify who would find the Capital One Savor cards particularly "good":
- The Regular Diner & Entertainer: If a significant portion of your monthly budget goes towards restaurants, bars, concerts, movies, sporting events, or popular streaming services, these cards are designed for you. The 3% cash back on these categories (and 8% on Capital One Entertainment) is highly competitive.
- The Grocery Shopper: Earning 3% cash back at grocery stores is another strong point, especially since this is a consistent and necessary expense for most households.
- The No-Annual-Fee Enthusiast: If you want to maximize your cash back without the commitment of an annual fee, the Capital One Savor (current version) or SavorOne is an excellent choice.
- The International Traveler (for spending, not solely for travel rewards): The lack of foreign transaction fees makes these cards a convenient companion for overseas trips, especially for dining and entertainment expenses abroad.
- Those with Good to Excellent Credit: To qualify for either the Savor or SavorOne, you'll generally need a credit score in the good to excellent range (typically FICO 670+).
Who might find it "less good"?
- Someone who doesn't spend much on dining, entertainment, or groceries: If your spending is more diverse, a flat-rate cash back card might be more suitable.
- Someone looking for premium travel perks: While it offers some travel protections, it's not a dedicated travel rewards card with benefits like lounge access or extensive travel credits.
- Someone with fair or poor credit: These cards require good to excellent credit for approval.
Step 5: Potential Downsides & What to Consider
No credit card is perfect for everyone. Here are a few points to keep in mind:
- Grocery Store Exclusions: While it offers 3% on groceries, it excludes superstores like Walmart® and Target®. If you do a lot of your grocery shopping at these larger retailers, you won't earn the accelerated rate.
- No Rotating Categories: Unlike some other cash back cards, the Savor cards don't have rotating bonus categories that require activation. This can be a pro for simplicity but a con if you enjoy maximizing varied bonus categories throughout the year.
- APR After Intro Period: The regular APR can be quite high (variable, often in the 19.24% - 29.24% range). It's crucial to pay your balance in full each month to avoid interest charges, as carrying a balance will quickly negate any cash back earned.
Conclusion: So, How Good Is the Capital One Savor Card?
The Capital One Savor (current no-annual-fee version) and SavorOne Cash Rewards Credit Cards are very good options for a specific type of spender: those who consistently spend on dining, entertainment, and groceries. With competitive cash back rates in these popular categories, a solid sign-up bonus, and no foreign transaction fees, they offer substantial value, especially given that the primary versions now carry no annual fee.
If your lifestyle revolves around enjoying good food, lively entertainment, and well-stocked fridges, then the Capital One Savor or SavorOne could easily become your go-to card, putting more cash back in your pocket for the things you love most.
10 Related FAQ Questions
How to Maximize Capital One Savor Rewards?
To maximize your Capital One Savor rewards, focus your spending on dining, entertainment, and grocery purchases (excluding superstores like Walmart and Target) to earn the 3% cash back. Also, utilize the 8% back on Capital One Entertainment purchases and 5% on hotels/rental cars booked through Capital One Travel.
How to Redeem Capital One Savor Cash Back?
You can typically redeem your Capital One Savor cash back for any amount as a statement credit, check, or gift cards. You can also use your rewards to pay for purchases at Amazon.com or with PayPal.
How to Avoid Capital One Savor Annual Fees?
The current Capital One Savor Cash Rewards Credit Card and the SavorOne Cash Rewards Credit Card both have no annual fee, so there's no fee to avoid. (Note: The legacy Savor card had a $95 annual fee).
How to Check My Capital One Savor Application Status?
You can usually check your Capital One Savor application status online by visiting the Capital One website and logging into their application status checker tool, or by calling their customer service.
How to Transfer a Balance to Capital One Savor?
If your Capital One Savor card offers an introductory 0% APR on balance transfers, you can initiate a balance transfer through your online account or by contacting Capital One customer service. Be aware that a balance transfer fee typically applies.
How to Improve My Credit Score for Capital One Savor?
To improve your credit score for the Capital One Savor cards (which generally require good to excellent credit), focus on paying bills on time, keeping credit utilization low, and addressing any negative items on your credit report.
How to Get a Higher Credit Limit on Capital One Savor?
Capital One automatically reviews accounts for credit limit increases in as little as 6 months. You can also request a credit limit increase through your online account, but ensure your spending and payment history are strong.
How to Use Capital One Savor Abroad?
You can use your Capital One Savor card abroad just like you would domestically, as it has no foreign transaction fees. This makes it a great card for international travel, especially for dining and entertainment.
How to Report a Lost or Stolen Capital One Savor Card?
Immediately report a lost or stolen Capital One Savor card by calling Capital One's 24/7 customer service number, which can be found on the back of your card (if you still have it) or on their official website.
How to Contact Capital One Savor Customer Service?
You can contact Capital One Savor customer service by calling the number on the back of your card, through their online chat feature on the Capital One website, or via their mobile app.
