Our Verdict
With the ability to earn 5% cash back on hotels and rental cars booked through Capital One Travel, 4% cash back on dining, entertainment and popular streaming services, 3% cash back at grocery stores (excluding superstores like Walmart® and Target®) and 1% on all other purchases, the Savor Rewards Credit Card* has the potential for significant cash-back returns which will likely offset the $95 annual fee—assuming your spending aligns with the card’s bonus reward categories. The lack of a foreign transaction fees plus benefits like 24-hour travel services and travel accident coverage make it a worthy option for food and entertainment-focused folks both at home and on the go.
Pros
- 4% cash back on eligible categories
- Entertainment is a rare rewards category
- No foreign transaction fees
- Unlimited reward earnings
Cons
- Annual fee
- No introductory APR for purchases or balance transfers
- High standard APR
Highlights
- Earn a $300 cash bonus after spending $3,000 on purchases within 3 months from account opening
- Earn 8% cash back on purchases made through the Capital One Entertainment ticketing platform
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
- Earn unlimited 4% cash back on dining, entertainment and popular streaming services
- Earn unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®)
- Earn unlimited 1% on all other purchases
- No rotating categories or sign-ups needed to earn cash rewards; plus cash back won’t expire for the life of the account and there’s no limit to how much you can earn
Introduction
The Savor Rewards Credit Card* sells itself as a card for people who enjoy going out. The card earns 5% cash back on hotels and rental cars booked through Capital One Travel, 4% cash back on dining, entertainment and popular streaming services, 3% cash back at grocery stores (excluding superstores like Walmart® and Target®) and 1% on all other purchases. There’s also a number of related entertainment benefits, access to discounted VIP ticket packages for sports, concerts and elaborate culinary experiences. It’s one of just a few cards that offers elevated rewards on entertainment spending.
The card also markets itself to those crossing borders: With no foreign transaction fees and extras like travel accident insurance, 24-hour travel assistance and concierge services, the Capital One Savor card is a solid option for the international traveler.
But with a $95 annual fee, the Capital One Savor doesn’t exactly come cheap. There is neither a low introductory APR for purchases nor much benefit for balance transfer-seeking customers.
The card may work well as a solo card for its earn rate, but more likely, the everyday cardholder will benefit from pairing it with another card that can offer better all-around cash-back rewards.
Featured Partner Offers
Quick Facts
- Earn 5% cash back on hotels and rental cars booked through Capital One Travel, 4% cash back on dining, entertainment and popular streaming services, 3% cash back at grocery stores (excluding superstores like Walmart® and Target®) and 1% on all other purchases
- $95 annual fee
- Travel accident insurance
- 24-hour travel emergency service
- Entertainment benefits like ticket discounts
Capital One Savor Rewards Credit Card Rewards
Earning Rewards
Cash-back rewards with the Savor Rewards Credit Card* are unlimited and earned in several categories. You’ll earn 5% cash back on hotels and rental cars booked through Capital One Travel, 4% cash back on dining, entertainment and popular streaming services, 3% cash back at grocery stores (excluding superstores like Walmart® and Target®) and 1% on all other purchases.
The Savor offers a welcome bonus: $300 cash bonus after spending $3,000 on purchases within 3 months from account opening.
Redeeming Rewards
Rewards are easy enough to redeem with the Savor card. Cardholders can request rewards as a statement credit or check. Cash-back redemptions can also be automated by either an annual automatic redemption date or an automatic redemption threshold. Once the user-set threshold has been reached, the designated amount will be credited or released.
You can also redeem your rewards for travel through CapitalOneTravel.com. Additionally, rewards can be redeemed for purchases, gift cards and other promotions but the rate of exchange for these redemptions may vary. It’s even possible to shop online with PayPal and Amazon with rewards earned from the card, but the redemption rate is less than 1 cent per point.
Rewards Potential
To determine the rewards potential of the Savor Rewards Credit Card* we looked at its bonus categories and estimated what an average household might spend in those areas. Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $116,000 annually and has $36,177 in annual spending that can reasonably be charged to credit cards.
Other Capital One Savor Rewards Credit Card Benefits
- No foreign transaction fees: No extra charges on purchases made abroad.
- Extended warranty: Additional warranty protection for eligible purchased items.
- Travel accident insurance: Travel accident insurance is automatically provided when the card is used to purchase airfare.
- Capital One Shopping: Online tool that automatically applies coupon codes to purchases.
- Complimentary concierge service: Get helpful assistance on dining, entertainment and travel.
- 24-Hour travel assistance service: Access to emergency card replacement and cash advance services.
- Instant purchase notifications: Be notified of purchases made via your mobile device.
- Access benefits: Discounts on tickets for sports, concerts and culinary experiences.
- $0 fraud liability: No cardholder responsibility for unauthorized transactions.
- Card Lock: Ability to lock credit card use from a mobile device.
- Autopay: Ability to set up automatic bill payments.
Fine Print
Interest Rates
- Regular APR: 19.99%, 26.24% or 29.99% Variable
- Purchase intro APR: N/A
Fees
- Annual fee: $95
- Balance transfer fee: 4% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you. None for balances transferred at the Transfer APR.
- Foreign purchase transaction fee: $0
How the Capital One Savor Rewards Credit Card Stacks Up
Savor Rewards Credit Card* vs. Chase Freedom Flex℠*
The no-annual-fee Chase Freedom Flex℠* also offers a welcome bonus: $200 bonus after you spend $500 on purchases in the first 3 months from account opening. Plus, earn 5% cash back on combined gas station and grocery store purchases (excluding Target and Walmart) on up to $12,000 spent in the first year.
Beyond the first-year offer, the bigger difference between the two cards are the reward categories. The Freedom Flex offers 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining and drugstores and 1% cash back on all other purchases.
The Freedom Flex requires more attention and has more limits than the Capital One Savor’s unlimited rewards system, but may be more rewarding for some.
Savor Rewards Credit Card* vs. Blue Cash Preferred® Card from American Express
For those who don’t blink at the Savor’s annual fee, a fair comparison might exist with the Blue Cash Preferred® Card from American Express (Terms apply. See rates & fees) as it carries a $0 intro annual fee for the first year, then $95 annual fee.
The Blue Cash Preferred offers 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more) and 1% cash back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout. This makes choosing between the Blue Cash Preferred and the Capital One Savor more a question of your preference between dining in or eating out.
Where the Capital One Savor definitely beats the competition is with no foreign transaction fees and myriad of travel-related benefits. This makes it much more appropriate for travel in general, but especially for international travelers.
Though these cards have much in common, the details differentiate them for different customers. For those who move across borders and dine out frequently, don’t want to be worried about caps on their highest category and expect to spend bigger early, the Capital One Savor might be the answer. For those who spend at supermarkets but not so much that a cap won’t matter or use a lot of gas and spend on transit, the Blue Cash Preferred Card might make more sense.
Savor Rewards Credit Card* vs. Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne Cash Rewards Credit Card (rates & fees) is almost like the Capital One Savor’s less-intense twin. With fewer extra benefits, slightly-reduced cash-back rewards and a smaller welcome bonus, the Capital One SavorOne provides a great option for those who might find the Capital One Savor and its annual fee to be unpalatable.
Capital One SavorOne cardholders will earn 3% cash back on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases.
It also offers a 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you.
One other major difference is the reduced welcome bonus, but the lack of an annual fee still makes the SavorOne worth a second look. The Capital One SavorOne makes a fantastic alternative for those who aren’t convinced the annual fee is worth the extra benefits.
Is the Capital One Savor Rewards Credit Card for You?
The Savor Rewards Credit Card* has great benefits for those who enjoy dining and entertainment, expect to spend enough to qualify for the welcome bonus and who travel internationally.
Those who spend significantly on dining and entertainment while traveling internationally may be among those who benefit most with this card. Also, those who will use the card in conjunction with a better-for-all-around-cash-back-rewards card are likely to see great benefit.
The Savor Rewards does not work well for balance transfers, though, or for folks who don’t want to pay an annual fee. As always, careful research is recommended for cards with annual fees, especially if making the spending required to get the welcome bonus seems achievable.
Find The Best Cash Back Credit Cards Of 2024
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual points or miles
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.
Read more: How Forbes Advisor Rates Credit Cards
To view rates and fees for Blue Cash Preferred® Card from American Express please visit this page.
*The information for the following card(s) has been collected independently by Forbes Advisor: Savor Rewards Credit Card, Chase Freedom Flex℠. The card details on this page have not been reviewed or provided by the card issuer.