• Annual Fee: $95
  • APR: 15.99%-23.99%
  • Maximum Earning Rate: 4%
  • Recommended Credit Score: 700+
  • Cash Advance Fee: 3%
  • Foreign Transaction Fee: $0

minimum price:

$95 annually

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Capital One Savor Card Review: Features, Pros and Cons in 2021

You’ve must have seen the Capital One Savor credit card here and there, but you’ve probably also wondered if it’s any good.

Luckily, we prepared a thorough Capital One Savor Card review that will cover all of the essential information regarding the credit card. Keep reading to learn more!

Capital One Savor Card Review: Features, Pros and Cons in 2021

minimum price:

$95 annually

Visit Website
  • Annual Fee: $95
  • APR: 15.99%-23.99%
  • Maximum Earning Rate: 4%
  • Recommended Credit Score: 700+
  • Cash Advance Fee: 3%
  • Foreign Transaction Fee: $0

Best For

Food and Fun-Loving Individuals

Strengths

  • No foreign transaction fee
  • Unlimited 4% cashback in popular categories
  • Cashback rewards are easy to redeem
  • Bonus categories

Weaknesses

  • High standard rate APR
  • Requires high credit score

Overview

The Capital One Savor card was launched in 2017 and has been used by millions of customers ever since.

The Savor card is an excellent choice for the fun and food-loving individuals among us. Thanks to its generous reward system, you get cashback on entertainment, dining, and popular streaming sites, whereas grocery stores will also bring you some money back, albeit at a lower rate.

The card’s annual fee is a bit steeper than the industry standard, however, it brings a variety of benefits to make up for the high price. Nevertheless, that’s on you to decide so stay tuned as we take a deep dive into the Savor credit card to be able to make an informed decision.

Main Features

The Savor card by Capital One is an excellent option for those willing to save money while dining out, but it also benefits people looking to save money on grocery shopping. Let’s take a look at the main features of the Savor card.

Cash Back Details 

The Capital One Savor Card is big on cash backs. You can redeem 4% cashback on dining out, and grocery shopping, and while additional purchases will bring you 1% cashback. The dining category cashback is widespread, so you don’t have to worry about ordering from your Capital One Savor credit card and not getting cashback. If you’ve been looking for a card with a lower fee, the BMO Cashback Mastercard offers 3% cashback on groceries and 0.5% cashback on other eligible purchases.

You can include eat-ins, takeout purchases at restaurants, cafes, bars, lounges, fast-food chains, and bakeries. Food delivery services like GrubHub can be counted as well, although the bank doesn’t mention them explicitly.

Entertainment is also a broad category that includes movie theatres, theatrical programs and sports promoters. What is more, the Savor Card is great for couples with children because you can get cashback on zoos, amusement parks, dance halls, and bowling alleys.

Eligible streaming services include Netflix, Disney+, and HULU. Yet, services like Amazon Prime, AT&T TV, and Verizon FIOS are excluded. Audiobook subscription services and fitness programmings don’t count either.

Unfortunately, the list of grocery stores on this card isn’t as extensive as you’d expect. You can earn cashback on small grocery stores and most supermarkets, but superstores like Walmart, Target, Big Box, Costco, and Sam’s Club aren’t included.

How to Redeem Cashback 

When it comes to redeeming cashback, Capital One makes the whole process hassle-free.

There are no reward charts or complicated redemptions to navigate. You can redeem your cashback in any amount, be it through statement credits deposited in your account or via check. Your reward never expires as long as your account is open and in good standing.

Let’s take a look at all the ways you can redeem your cash.

  • You can also set up automatic redemption each year on your Capital One Savor Card and you can set up a certain threshold. For instance, you can set cashback if the amount reaches $50, $100, $200, $500 or $2000.
  • You can redeem gift cards for Amazon purchases, but the redemption rate varies.
  • You can transfer Capital One Savor rewards from your card to earn miles. You cannot convert miles into Capital One Savor cash amounts, though, which is a bit of a bummer.

Additional Savor Card Perks and Benefits

Capital One issues several versions of the Savor card. These versions come with their own set of benefits. However, some benefits are standard across all types of Capital One cards. Let’s review each of them closely.

Extended Warranty

Capital One Savor cardholders receive an extended warranty on any purchase made from their card. This is an excellent benefit because there’s no way of knowing if the purchased product will show any defects after the warranty period ends.

Travel Accident Insurance

The Capital One Savor Card comes with travel accident insurance that covers losses when you pay for your trip. Ride-hailing services like Uber and Lyft are also included in your travel accident insurance, which is quite convenient. Similarly, the TD Aeroplan Visa Infinite offers extensive travel insurance and exclusive perks like Visa Infinite Entertainment Access.

24 Hours Travel Assistance

If you lose your card during travel, you can reach out to customer service 24/7. They will quickly issue another card and some cash advance if needed.

Concierge Service

One of the most significant benefits of the Capital One Savor Card is that you no longer have to wait in lines. The card offers concierge services that’ll buy hard-to-get tickets on your behalf.

Plus, you can make dining reservations with your concierge services, making the Savor card an excellent choice for people who eat out! However, although the Concierge service is free, you’ll have to pay 3rd party charges.

Event Access

The Capital One Savor Card can improve your outdoor experience. You get exclusive discounts on meals and tickets for concerts or other events. You also get on-site perks at sports festivals, curated dinners, and Chef collaboration.

Account Security and Alert

If Capital One detects unusual activity on your account, you’ll get an alert via text message, email, or phone call, keeping you updated 24/7.

$0 Fraud Liability

Capital One won’t hold you accountable in case someone steals your Savor credit card and makes unauthorized purchases. You won’t have to cover the amount. Instead, Capital One will dismiss those purchases completely. Neat, eh?

Virtual Card Number

Capital One Savor Credit Card allows you to create a virtual card number that you can block or delete anytime. This prevents hackers from accessing your credit card information because you don’t actually reveal your actual card number.

Card Lock

Card lock allows you to lock your card in case you lose it temporarily. You can also block or lock your card if it’s stolen.

Welcome Bonus 

One of the main benefits of the Capital One Savor Card is the welcome bonus. Upon signing up, you get $300 cashback provided that you spend $3000 in three months. It’s an excellent option for those who have large purchases around the corner.

This welcome bonus is relatively generous for new Savor credit cardholders. However, the minimum spending requirements may be a bit hefty for those living on a tight budget.

Savor Card Fees and Rates

Everything comes with a price and The Capital One Savor card makes no exception. Let’s see what’s going on in the fees departments and decide if the card offers good value for money.

Annual fee

The Capital One Savor card comes with a $95 annual fee, which is a bit steep. Nevertheless, should you decide to fulfill the spending requirements of the Welcome Bonus, the fee will technically be refunded to you.

APR

The current ongoing purchase APR for the Savor card is variable and ranges from 15.99% – 23.99%. However, there is 0% purchase intro and balance transfer intro APR for the first 15 months, after which the transfer APR will range from 15.99% – 23.99%. This free APR policy applies to balance transfers and purchases only, whereas the balance transfer fee is fixed and amounts to 3%.

A more affordable alternative with a 17.99% interest rate would be the Refresh Financial Secured Visa card, coming at an annual fee of $12.95.

Cash Advance

When it comes to cash advance fees, the bank’s policy mandates 3% of the amount, but the fee cannot be less than $10.

Foreign Transaction Fee

None whatsoever. Capital One charges 0% on foreign transactions, allowing you to spend away without having to worry about additional costs.

When it comes to fees, we can conclude that Capital One doesn’t offer anything out of the ordinary with the Savor card, despite the significantly higher annual fee, but also a few privileges compared to other, similar cards.

Eligibility

You may find this card quite beneficial thus far, however, the application process is a bit stringent. Let’s review the eligibility requirements as well as some useful tips on how to increase your chances of being approved.

Know Your Credit Score

Your credit score plays a crucial part in the acceptance of your Savor Credit Card. You’ll need a 700+ credit score to get approval. However, if your credit score is slightly below the required number, you might still get the card if your transaction history is vital. If your credit score isn’t good enough for this card, the BMO Prepaid Mastercard doesn’t have a set income or credit score requirement.

If your credit score is several points below the requirement, then you might need to improve your credit score. You can do this by taking short-term loans and paying them on time. However, sometimes, your credit score is low because of transaction errors. For that, you can contact your credit bureau for corrections.

How Many Personal Cards Do You Have?

One of the downsides of Capital One bank is that you can have only two personal cards. If you have more than the specified number, you might not be eligible for the Savor credit card. In this situation, it’s best to discontinue the cards you are not using.

Evaluate the pros and cons of your cards and determine which ones you can part ways with. The Savor card is excellent for dining out, and if you are the type to live a luxurious life, you’ll benefit from it.

Consider Your Income Level

There is no hard-and-fast rule for having a certain level of income. However, it plays a part in the equation.

Banks want to know whether your monthly earnings are enough to pay for the bills incurred on your card. Therefore, the stronger your income, the higher your chances are.

Regardless of this, your credit score also plays a critical part. So make sure your income and credit score are both optimum for this card.

Capital One Savor Card Alternatives

Don’t like what you see? Don’t worry, we’ve got some other options up our sleeve. Let’s find something just for you!

The Tangerine World Mastercard, for instance, brings similar benefits to the table, with slightly lower cashback rates, but it also comes with a $0 annual fee and slightly lower APR, thus evening out all of the discrepancies.

It doesn’t offer a welcome bonus, but you can find numerous promotions on their website to make the most out of the card. What is more, the cashback categories are completely customizable, allowing you to choose which categories to receive cashback in.

Lastly, it does not offer any travel miles, however, it does provide the official LoungeKey Mastercard Airport Experience.

Take a look at the table below for a side-to-side comparison.

Feature Savor Card Tangerine World Mastercard
Annual Fee  $95 $0
Welcome Bonus  $300 /
Travel Miles  Rewards can be transferred to miles /
Cashback percent 4% on dining and grocery, 1% on additional purchases 2% in up to 3 categories; 0.5% on everything else
APR 15.99% – 23.99% 19.95%

Final Verdict

We hope to have given you a bunch of insightful information throughout this Capital One Savor Card review, but let’s do a quick recap.

The APR is pretty high, but the services that come with this card are tremendous. You get a virtual card number for added security and text message alerts upon suspicious activities. In addition, you can request a new card if your original is stolen, and the process of requesting a new one is not stressful at all. Capital One also allows you to request advance cash with your new card.

If you’re not a big spender and are only looking for a credit card for other, specific types of purchases, you might want to look elsewhere.

FAQ

Is Capital One Savor a good card?

Capital One Savor is an excellent choice for food and fun-loving spenders given how the card offers decent cashback rates on such categories. If you don’t consider yourself a big spender in these specific categories, you should look for a different card.

Is Capital One Savor a Visa or Mastercard?

The Savor Card is a Mastercard, meaning that it’s accepted practically anywhere and as mentioned previously in this Capital One Savor card review, the card comes with several Mastercard-based privileges, such as the LoungeKey Airport Experiences.

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