Capital One Savor Cash Rewards Review
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Capital One Savor Cash Rewards Credit Card
If you eat at restaurants or shop at grocery stores often (like most human beings), then the Capital One Savor Cash Rewards Credit Card could be an excellent addition to your wallet. In short, this is a simple, beginner-friendly credit card option that effortlessly fits into the spending lifestyle of many consumers. In this brief article, we will cover everything you need to know before considering applying for this credit card!
Learn more about Capital One Savor Cash Rewards Credit Card HERE
Credit Card Overview
When it comes to no annual fee cash back credit cards, Capital One Savor remains a competitive option for consumers. With unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services, this card is a valuable and appealing choice for many.
Although the cash back structure is simple, keep in mind that non-bonus categories will only earn you 1% on purchases. Said another way, anything you buy that is not considered dining, entertainment, popular streaming services, or grocery stores will only earn 1% cash back. This can be compared to Capital One Quicksilver Cash Rewards Credit Card which offers 1.5% cash back on every purchase you make.
Capital One Savor Sign-Up Bonus
While we do not recommend chasing sign-up bonuses, this credit card does offer a $200 one-time cash bonus once you spend $500Â on purchases within the first 3 months of account opening. This offer is currently only for Savor Rewards, the main focus of this article. Below is the complete list of credit cards in the Savor family, although the latter 2 are not eligible for the bonus above:
To determine your eligibility for these credit cards, below is a chart from Capital One guiding creditworthiness guidelines:
As mentioned, this review covers the Savor Rewards Credit Card which assumes you have ‘Excellent’ to ‘Good’ credit.
Savor Credit Limit
While considering this credit card, you’re likely wondering what the minimum and maximum credit limits are. Capital One has not explicitly confirmed these metrics but cardholders typically start as low as $1,000 and rise to over $10,000.
However, one common issue with this card involves potential difficulty in increasing your credit limit with Capital One.
Pros
At the end of the day, the Savor credit card is a decent option for beginners or consumers seeking an easy-to-use cash-back credit card. Below is a quick overview of the pros of the Capital One Savor Rewards Credit Card:
- $0 annual fee
- Unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery stores (excluding superstores like Walmart® and Target®)
- 8% cash back on Capital One Entertainment purchases
- No foreign transaction fees
- $250 sign-up bonus**
**Requires ‘Excellent’ Credit per Capital One
Cons
On the other hand, here are some potential cons for the Savor card:
- Credit limit increases can be difficult
- Limited reward categories (if you don’t spend much on dining, entertainment, streaming services, or grocery stores, this may not be the right choice for you.)
- No rotating categories/bonus categories
- Requires good/excellent credit
Is Savor Credit Card Metal?
No, Capital One Savor Credit Card is not metal, but instead made of plastic. If you are looking for a metal credit card these typically are found with more premium options with higher annual fees.
Is Savor Better Than Quicksilver?
You may be wondering, what the difference is between Savor and Quicksilver. Deciding between the Savor and Quicksilver credit cards weighs heavily on your preferences and habits with spending. In short, the Savor is ideal for consumers who frequent restaurants or enjoy entertainment as cash back rates are higher for these categories. Alternatively, the Quicksilver card may be a better option for people looking for simplicity, as it offers a straightforward 1.5% cash back on every purchase.
Recap
The Capital One Savor Rewards Card is a strong contender for individuals who spend heavily on dining, entertainment, and groceries, offering substantial rewards without an annual fee. However, its limited high-reward categories may be a deterrent.
As with any credit card, it’s crucial to evaluate your spending patterns and financial goals to determine if this card aligns with your needs. Always be responsible with your spending and avoid credit card debt at all costs.
Interested in another Capital One credit card that might fit your lifestyle better? Learn more about Capital One Quicksilver Cash Rewards Credit Card HERE.
Feasible Creative is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to Capital One benefits and offers. Enrollment may be required for select Capital One benefits and offers. Visit capitalone.com to learn more. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired.
Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included within the post.
