Capital One Savor Card: A Savory Deal for Dining & Entertainment
Capital One’s Savor card can be described as the Big Sister to another popular Capital One credit card, Savor One. The popularity of both cards lies in the focused rewards for dining and entertainment. As with most other credit cards from Capital One, the rewards are in the most flexible form – cold, hard cash. Card owners can redeem cash rewards at any amount, and they never expire. What's even better? All of the cash back categories are uncapped. There is no limit to what you can earn.
The unlimited cash back rewards that never expire is reason enough for some people to get this card. Before jumping in, let’s make sure the categories of the rewards and their specifics are right for you.
Most premium credit cards offer a multitude of rewards and other attractive features to lure customers, and the Capital One Savor card is no different. New cardholders can expect to see a $300 Cash Bonus after charging $3,000 on the card in the first three months. This bonus is a generous reward that keeps the Savor card in competition with other premium credit cards that offer a sign-up bonus.
The main draw for this card is the relatively unmatched cash back rewards offered on dining and entertainment. At 4% for these categories, the Savor card has limited competition. Additionally, the Savor card gives 2% back from purchases made at grocery stores and 1% back on all other purchases. Be aware, however, that the Capital One Savor card does not recognize superstores such as Walmart and Target as grocery stores.
Like most premium credit cards, the Capital One Savor card has an annual fee. The good news is Capital One waives the $95 fee for the first year. Also, like most premium cards, potential cardholders need first-rate credit. Capital One reserves this card for customers with a 690+ credit score. The APR is a competitive 15.99% - 24.99% variable, and there is no fee assessed for exceeding your max limit on the card.
Other fees you might run into owning this card include a late fee and a cash advance fee. If you do not pay your bill on time, a fee of no more than $39 will appear on your next statement. If you need some cash, be prepared to pay a 3% charge with a minimum of $10 for each cash advance. The interest rate for cash advances slides to the high end of the scale, 24.99% variable.
And now for some good news – Capital One allows you to add an authorized user for free. Additionally, cardholders can set up auto bill-pay, and there are no foreign transaction fees.
The protection benefits with the Capital One Savor card are comprehensive, assuring owners that their assets are protected. The best way to review these features is a descriptive list:
If you lose your card or if it's stolen, Capital One Savor cardholders have access to 24-hour travel assistance. This service will replace your card with an emergency card or provide a cash advance.
Savor card owners have a $0 fraud liability. So, if your card is stolen or lost, Capital One will not charge you for purchases you did not make.
Capital One Savor card owners have access to Card-Lock in the mobile app. If your card is stolen or lost, you can lock it so no one can make fraudulent charges.
Capital One will text, call, or e-mail cardholders if there is suspicious activity on the card. Card monitoring catches such activity as double charges and possible fraud.
Capital One Savor cardholders have access to Eno. Eno is a service that provides virtual card numbers to protect actual card numbers when ordering online or over the phone.
Card owners will also receive rental car insurance covering theft or collision damage if they refuse the coverage offered by the rental company. Car insurance benefits should be carefully researched on the Capital One website. Limitations and restrictions apply.
If you use your Savor card to purchase your airfare, you receive automatic loss insurance for baggage and other items.
Keeping track of your credit score is made easy with this card. As a cardholder, you will receive CreditWise, a credit alert system. You’ll get alerts when your TransUnion or Experian credit report changes. CreditWise will also scan the dark web for your SSN# and send an alert if there is a problem.
Spotlight: Dining & Entertainment
Being a Capital One Savor cardholder connects you to some remarkable premium experiences. You can pre-purchase VIP concert and sporting event tickets and gain access to 5-star invite-only dining experiences when paying with your card. Capital One posts all premium dining and entertainment experiences on their website, and the choices change all the time.
The Savor card's pinpoint focus might have skeptics a little leery about precisely what is categorized as dining and entertainment. It certainly would be frustrating to think you are receiving 4% cash back to see later that you didn't. Let’s limit the confusion. Here’s a list of suitable examples for each category. Other acceptable examples may apply.
Dining: restaurants, fast food, coffee shops, cafes, lounges, bakeries, bars, night clubs
Entertainment: movies, concerts, plays, tourist attractions, theme parks, aquariums, zoos, dance clubs, pool halls, bowling alleys, record stores, video rentals
The entertainment list is impressive, and no other card offers 4% cash back in that category. Still, it’s important to take a look at what’s not included. Cable, streaming, and subscription services are all purchases the Savor card will not accept as entertainment.
Capital One Savor cardholders receive some amazing shopping perks, including Paribus. Paribus is an app that finds potential savings on card purchases. If a retail price drops, Paribus finds the savings, and Capital One puts the difference back on your card. Paribus also finds savings like late delivery fees that warrant a discount. Finally, if there is a return window for purchases, Paribus will send the cardholder a notification. Not all retailers are part of this feature, however. Current partnering merchants include popular stores such as Target, Macy's, Home Depot, GAP, and several more.
Another useful shopping tool for Savor cardholders is Wikibuy. Access to Wikibuy puts a powerful online shopping tool in the palm of your hand. Wikibuy searches thousands of merchants to help you find the best price on almost anything. Last, but certainly not least, Savor cardholders can easily redeem cash back rewards at Amazon.com.
Who Should Savor This Card
People who frequently dine out, entertain business guests, and spend money on entertainment will benefit most from the Capital One Savor card rewards. The $300 Cash Bonus for new cardholders is attractive if you know you can reach the $3000 in charges the first 3 months. Another advantage, the Savor card is not just a card for dining and entertainment. The 2% cash back at grocery stores is another attractive feature. However, it is safe to say, people who do not regularly purchase entertainment tickets or dine out can find a more suitable card. Likewise, people who buy their groceries at a superstore and who don't want an annual fee will not consider this card a savory deal.