Credit Card Reviews
Capital One Savor Rewards [SavorOne Rewards] Credit Card Review
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When I looked through my wallet and the credit cards I use most often, I realized a couple of years ago that I had neglected to formally review one of my favorites: the Capital One Savor Rewards card. Sure, I’ve mentioned it in plenty of previous posts (including my annual “personal credit card strategy” articles), but I’ve failed to give it its due in terms of a full-fledged guide of its own. Let me correct that error now by sharing what the Savor has to offer and why it’s one of my top no-annual-fee card options.
Capital One Savor Rewards
Capital One SavorOne: A Very Rewarding Rewards Credit Card
5
Annual Fee
None
Rewards
3% on dining, 3% on entertainment, 3% on popular streaming services, 3% on grocery store purchases (excluding superstores like Target and Walmart), 1% back on all other purchases, and more
Welcome bonus
Earn $250 back after spending $500 on the card within the first 3 months
The Capital One Savor Rewards card is one of my most-recommended cards thanks to its strong rewards line-up and lack of an annual fee. In particular, the 3% entertainment category is quite broad and generous. Additionally, the welcome bonus is easy to attain and offers an impressive spending to return ratio. In fact, the only downside I can think of is that there’s not an option to transfer cashback to a bank account (statement credit redemptions or checks are options, though). All in all, the Capital One Savor is a great pick for those looking for a great rewards card option.
Pros
- No annual fee
- 3% back in several strong categories including entertainment
- Easily attainable welcome bonus
Cons
- Lacks bank transfer option for cashback
What is the Capital One Savor Rewards Card and What Does it Offer?
What is the Capital One Savor Rewards Card and What Does it Offer?
Savor or SavorOne?
If you’ve heard about the Savor card in the past, there’s a chance it might not be the card I’m reviewing today. That’s because, in 2024, Capital One decided to discontinue its Savor card, which carried a $95 annual fee. This version of the card offered 4% back on some key categories such as dining, entertainment, and select streaming services but also had a less exciting welcome offer. Despite being the flagship of the line-up, it’s clear that most customers wisely choose the no-annual-fee SavorOne instead.
Confusingly, the bank then elected to pass the Savor moniker down to what was called the SavorOne card. In other words, this review is of the card formerly known as the SavorOne Rewards card that now goes by Savor Rewards.
No annual feeAs I mentioned in my intro, one of the best aspects of the Capital One Savor is that it carries no annual fee. While there are some cards that justify their fees, there’s no doubt that not having to worry about a fee at all is a huge advantage. Thus, this aspect already makes the Savor easy to recommend.
Reward categories
The “Savor” name alludes to the fact that one of the top reward categories for the card is dining. However, while the card does indeed serve frequent diners well, it also boasts a well-rounded roster of other spending categories. Here’s a quick overview of what the card offers before we dive deeper:
- 3% back on dining
- 3% back on entertainment
- 3% on popular streaming services
- 3% on grocery store purchases (excluding superstores like Target and Walmart)
- 5% back on hotels and rental cars booked through Capital One Travel
- 1% back on all other purchases
As you can see, the Savor features a number of 3% categories. Notably, this is the result of Capital One improving the card last year. Previously, the card’s grocery store reward category was only 2% while the streaming service category was non-existent in the former version. There’s also the 5% on Capital One Travel — although, frankly, I don’t have much experience with that.
The categories I do have a lot of experience with are the dining and entertainment ones. And, while “dining” is pretty straightforward, the “entertainment” category is a bit wider and, in my opinion, more interesting. According to Capital One, entertainment includes tickets purchased at movie theaters, sports promoters (professional and semi-professional live events), theatrical promoters, amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls, and bowling alleys.
However, golf courses, collegiate sporting events, and “non-industry entertainment merchant codes” such as cable subscriptions or membership services are excluded. In our case, we rely heavily on this category as Disney Parks fans. In our experience, our tickets, annual passes, and even runDisney race entry fees code as Entertainment, allowing us to earn 3% back.
What’s also nice about the Savor is that it rewards dining in as well as dining out. That’s because grocery store purchases also earn 3%. Keep in mind that superstores like Walmart and Target that may sell groceries sadly do not count toward this category.
Lastly, with streaming services becoming a growing cost for many Americans, these purchases also earn 3% back. Among the platforms that qualify (and are explicitly named by Capital One) are Netflix, Hulu, and Disney+. Meanwhile, Prime Video, AT&T TV, and Verizon FIOS On Demand are some of the excluded options. Additionally, audiobook subscription services such as Audible are unfortunately ineligible.
Welcome bonus
In addition to earning strong levels of rewards in some key categories, the Capital One Savor has one of the best “spend to bonus” ratios. In fact, currently, new cardholders can earn an even better welcome bonus: $250 back after spending just $500 in purchases on the card during their first three months.
Typically, this card offers a still-awesome bonus of $200 back after spending $500 in purchases within three months of account opening.
To me, this $500 minimum spend requirement is refreshingly attainable while the $200 (or $250) bonus that comes with it is pretty generous. Again, this is just one more reason why I find the Savor easy to recommend.
Redeeming rewards and cashback
Those who enjoy their credit card rewards being simple will be happy to know that the Capital One Savor earns cashback. In turn, your earnings are extremely useable and simple to redeem. However, one small downside is that, while you can redeem cashback for statement credits, the only other option is to have a check mailed to you — with seemingly no bank transfer options instead.
Beyond regular cashback redemptions, cardholders can use their earnings in a few different ways. For example, Capital One offers a variety of gift cards customers can purchase with their cashback. Additionally, the aforementioned Captial One Travel portal allows for reward redemptions as well. There are also PayPal and Amazon options. Lastly, if you want to move your rewards from one Capital One account to another, this option is apparently also available.
Other versions of the Savor
While we’re on the topic of Savor variants, I should mention that Capital One has rolled out specialized versions of the card as well. Among those is the “Savor Rewards for Good Credit” (as opposed to “excellent” credit), which includes the same rewards but drops the welcome bonus. There’s also a Student version that allows eligible customers to earn a $50 bonus after spending $100 in purchases during their first three months. I don’t have any personal experience with these options but think they could still be beneficial to certain consumers.
Final Thoughts on the Capital One Savor Rewards Card
Final Thoughts on the Capital One Savor Rewards Card
At this point, it should come as no surprise that I am quite a fan of the Savor (previously the SavorOne) card. With solid earning rates from an impressive and practical selection of spending categories, we’ve managed to rack up a significant amount of cashback since adding the card to our mix. Specifically, the broad “entertainment” category has definitely been beneficial for us, earning us 3% back on purchases that wouldn’t fit into any elevated categories on my other cards.
What’s more, the Savor’s long-standing welcome bonus is among the best I’ve personally seen for a no annual fee card. On that note, the lack of an annual fee means there’s no need to worry about an upfront “investment” with this card. That’s also why I’ve long prefered it to its (now retired) reward card sibling.
Overall, I think that the Capital One Savor Rewards card could be a great addition to any rewards credit card portfolio — just as it’s been an awesome addition to mine.
Author
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