Savor Rewards from Capital One review | finder.com

Savor® Rewards from Capital One® review

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Savor® Rewards from Capital One®

Get high cash back on dining and a generous signup bonus.

  • Get this card if you want excellent cash back on dining.
  • Pick something else if you’re looking for a high cash back across other purchase categories, or if you want an intro APR period.
  • Apply with a good to excellent credit score of 670 or higher.
Product NameSavor® Rewards from Capital One®
Card TypeMastercard
Annual Fee$0 intro annual fee for the first year ($95 thereafter)
APR (Annual Percentage Rate) for Purchases16.74%, 22.24% or 25.74% variable
Introductory Purchase APR

N/A

Balance Transfer APR16.74%, 22.24% or 25.74% variable
Intro Balance Transfer APR

N/A

Balance Transfer Fee3%
Cash Advance Rate25.74% variable
Cash Advance Fee$10 or 3% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 25 days
Late Payment FeeUp to $38
Minimum Age18 years of age
Welcome OfferSpend $3,000 within the first 3 months of opening your card to score a quick $500 cash bonus.
RewardsEarn unlimited 4% cash back on dining, 2% on groceries and 1% on all other purchases.
Base Rewards1% cash back
Rewards Points ExpiryNever

The basics

True to its name, the Savor® Rewards from Capital One® is a solid choice for foodies. That’s because it offers a strong cash back on dining — in fact, it’s a top-of-the-line rewards rate among competitors. Also, if you love going to sporting events, movies, concerts, theme parks, dance clubs and bowling alleys among others, you’ll earn high cash back on the tickets.

Our pick for dining rewards

Chase Sapphire Preferred® Card

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
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The perks

  • Signup bonus.
    Spend $3,000 within the first 3 months of opening your card to score a quick $500 cash bonus. On similar cards, you need to spend from $1,000 to $1,500 to clear a bonus of the same size.
  • Cash back.

    Get unlimited 4% back on dining and entertainment purchases, 2% on groceries and 1% back on everything else you buy.

How much cashback rewards can I earn with Savor® Rewards from Capital One®?

Where you spend:The amount you spend:Cash back earned:
Dining$5,000$200
Entertainment$2,000$80
Groceries$4,000$80
Everything else$7,000$70
Total$18,000$430

Suppose your annual spending looks similar to our example. You would earn $430. If you clear the signup bonus, you would earn a total of $930 during your first year.

How much do I have to spend to make the annual fee worth it?

The card has an annual fee of $95 starting from your second year. You need to spend $2,400 on dining and entertainment annually just to break even. Everything above that is pure reward.

You’ll also like …

  • No foreign transaction fees.

    When you pay abroad with this card, you won’t pay any fees. Other cards have up to 3% fee for each transaction.

  • Capital One security features.

    Get security alerts by email, text or phone, lock your card in case it’s lost or stolen and unlock it when you’re ready, $0 fraud liability coverage and more.

  • Travel insurance.

    Fare purchased with your card gives you automatic travel insurance. Pay your car rental with your card and get insurance against theft and collision damage.

  • No penalty APR.

    If you pay late, you’ll only pay a late payment penalty fee. Other cards have a penalty APR that may apply after a single late payment that you could be stuck with indefinitely.

  • High minimum credit line.

    Your credit line depends on multiple factors determined by Capital One. But know that the minimum credit line you can receive is $5,000.

What to watch out for

  • Annual fee.

    The card comes with a $95 annual fee, which is waived for the first year.

  • High APR.

    The card has many cool perks and features, but it has a relatively high APR on purchases and balance transfers of up to 25.74% variable.

Compare other cashback credit cards

    Name Product Filter values Annual Fee APR for Purchases (Purchase Rate) Intro APR for Balance Transfer
    $0
    17.24% to 25.99% variable
    0% for the first 15 months (then 17.24% to 25.99% variable)
    0% intro APR for 15 months from account opening on purchases and balance transfers.
    $0
    16.24% to 25.74% variable
    0% for the first 12 billing cycles (then 16.24% to 25.74% variable)
    When you spend $500 on your card within the first 90 days, you’ll receive a $150 cash back bonus.
    $0
    17.24% to 25.99% variable
    0% for the first 15 months (then 17.24% to 25.99% variable)
    0% intro APR for 15 months from account opening on purchases and balance transfers.
    $95
    15.24% to 26.24% variable
    0% for the first 12 months (then 15.24% to 26.24% variable)
    Earn $200 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & Fees
    $0
    15.24% to 26.24% variable
    0% for the first 15 months (then 15.24% to 26.24% variable)
    Earn a $150 statement credit after you spend $1,000 or more in purchases with your new card within the first 3 months of card membership. Rates & Fees
    $0
    15.24% to 26.24% variable
    0% for the first 15 months (then 15.24% to 26.24% variable)
    Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & Fees
    $0
    15.24%, 19.24% or 25.24% variable
    0% for the first 15 months (then 15.24%, 19.24% or 25.24% variable)
    Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees.

    Compare up to 4 providers

    How does a balance transfer work with this card?

    You can request balance transfers 10 days after you opened your account. Know that your account may not be eligible for transfers.

    You can’t transfer balances from other Capital One accounts, including co-branded cards with Kohl’s, Sony, GM, BuyPower Card, Union Plus and Teamster Privilege.

    During any intro-APR periods offered for balance transfers, a balance transfer fee of 3% of the transaction will be applied. After the intro period passes, won’t pay any balance transfer fees. The regular balance transfer APR is 13.74%, 22.24% or 25.74%.

    What should I know before I apply?

    To apply for this card, you must be at least 18 years old and a resident of the United States.

    The information you’ll need to provide is:

    • Your full name and contact information.
    • Your date of birth and Social Security number.
    • Financial information including income, employment status and mortgage or rent.

    What credit score do I need?

    You’ll have a better chance of approval for the card if you apply with a good to excellent credit score of 670 or higher. A higher credit score and lower credit utilization will help you on your way to getting a higher credit score and lower APR.

    What do customers say about the Savor® Rewards from Capital One® card?

    Overall, customers like the card’s rewards and think the signup bonus is a nice touch. Also, a number of customers claim they received a high enough credit line to make them happy.

    Accredited by the Better Business Bureau since 1995, Capital One earns an A+ rating from the BBB.

    How to apply for the Savor® Rewards from Capital One® card

    1. Go to the Capital One website and find the Savor® Rewards from Capital One® card from the list of cashback credit cards, then click Apply now.
    2. Complete the application form.
    3. Review and submit your application.

    How long will it take to be approved?

    Due to the automated preapproval process on the website, you’ll often get a decision in under a minute. In some cases, you may need to submit additional information and wait a few business days to a few weeks for a response. After approval, expect your card to arrive in the mail within 7 to 10 business days.

    I got the card. Now what?

    • Download the Capital One® Mobile app. Use it to activate your credit card, to pay your bills, send money to friends and family and more.
    • Pay on time. After the close of each billing cycle, you have a grace period of 25 days to pay your balance. If you do, you won’t pay interest on your purchases.
    • Avoid fees. For late payments, you’ll pay up to $38. Balance transfers and cash advances also come with fees.
    • Customer service. If you have questions, contact Capital One credit card support at 1-800-227-4825.

    How do I redeem rewards from Savor® Rewards from Capital One®?

    Get your cash back upon request in the form of a:

    • Statement credit
    • Check
    • Credit for previous purchases
    • Gift card

    Visit the Capital One website or contact their rewards center to set up your automatic redemption preference by:

    • A set time each calendar year
    • When a specific threshold — $25, $50, $100 or $200 — is reached

    If you don’t have an automatic redemption preference, you’ll get your cash back upon request.

    Bottom line

    This could be a great card for you if you mostly dine out. Additionally, you get a generous signup bonus once you meet certain spending requirements.

    As always, compare your credit card options before deciding on the right one for you.

    Frequently asked questions

    Images: Capital One

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