Capital One® Savor Cash Credit Card Review

Learn more about this card and find out how you can apply here.

Savor® Rewards from Capital One® is a cash back credit card designed for people who like to eat. That’s pretty much everyone, right?

The headline here is unlimited 4% cash back on dining and entertainment purchases. That makes this one of the best credit cards for those seeking to save money eating out at restaurants. Grocery store purchases also earn cash back at an elevated rate: 2% unlimited. A juicy early spend bonus further sweetens the pot. The biggest drawback is undoubtedly the $95 annual fee, imposed after the first year.

If you’re looking for a no-frills, no-hassle cash back credit card that helps you save on everyday purchases, this product needs to be on your shortlist. Keep reading for a roundup of its features, advantages, disadvantages, and overall suitability.

When you spend at least $3,000 in eligible purchases within the first 3 months your account is open, you get a one-time cash bonus of $500.

Eligible dining and entertainment purchases made at restaurants earn unlimited 4% cash back. Eligible grocery purchases made at supermarkets and other types of stores with the proper merchant classification earn unlimited 2% cash back. All other purchases earn unlimited 1% cash back. Once earned, cash back rewards never expire.

You can redeem your accumulated cash back rewards in any amount as a statement credit or check – your choice. You can also set up recurring redemptions at a set time of year or when you reach a certain dollar threshold: $25, $50, $100, or $200.

Other redemption options include credits against specific previous purchases and gift cards, but redemption values are subject to change at any time.

As a World Elite Mastercard product, this card comes with a slew of Mastercard-backed benefits, including:

Additional benefits backed by Capital One include:

The annual fee is $95 after the first year. There is no foreign transaction fee. Cash advances cost at least the greater of $10 or 3%, whichever is greater. Balance transfers cost 3% of the transferred amount. Late payments cost up to $35.

This card requires good to excellent credit.

The Capital One® Savor Cash Rewards Credit Card is one of a relative handful of credit cards that actively rewards dining out and eating in. It’s one thing home cooks and restaurant aficionados can agree on.

It’s not for everyone though. If you’re a fill-the-tank kind of eater, you might not spend enough on food to make this card worth your while. An airline or hotel rewards credit card could be a better fit. Only you can tell for sure what type of rewards scheme makes the most sense for you.

Learn more about this card and find out how you can apply here.

Capital One® Savor Cash Rewards Credit Card is a straightforward cash back credit card that earns an excellent rate of return on dining and entertainment purchases and a solid rate of return on grocery store purchases. As long as you can offset the $95 annual fee after the first year, there’s little downside to keeping it in your wallet, though there are better options for consumers seeking higher rates of return on a broader range of spending. The strict underwriting requirements close the door for consumers with less-than-perfect credit as well.

Key benefits include a great early spend bonus, no foreign transaction fee, nice 4% and 2% cash back categories, no APR, solid Mastercard- and Capital One-backed benefits, and no minimum cash back amount required to redeem.

Drawbacks include mediocre baseline cash back rate (1%), no 0% APR introductory fee, strict underwriting requirements, favored rewards tiers mostly limited to food-related categories, and limited redemption options.

Overall, this is a great option for consumers who like to go out or groceries regularly – which is almost everyone.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Categories: Capital One, Credit and Debt, Credit Cards, Reviews

Brian Martucci writes about frugal living, entrepreneurship, and innovative ideas. When he’s not interviewing small business owners or investigating time- and money-saving strategies for Money Crashers readers, he’s probably out exploring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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