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If you tend to eat out or order in a lot, the Capital One® Savor® Cash Rewards Credit Card has you covered. This card offers standout rewards on dining and entertainment, plus bonus cash back rewards when used in grocery stores. You'll also get bonus offers with certain merchants.
This card isn't perfect, however. An annual fee and low base rewards rate may make it less appealing for small spenders. Here's what you need to know about the card before you apply.
|Customer service contact info for Capital One|
1 (877) 383-4802Capital One
Attn: General Correspondence
P.O. Box 30285
Salt Lake City, UT 84130-0287
|Generous cash back on dining and entertainment purchases||No introductory 0% APR promotion|
|Bonus offers with select merchants||$95 annual fee after the first year|
|No annual fee the first year||Low rewards rate on most of your purchases|
|Grocery bonus excludes major retailers such as Walmart and Target|
When it comes to dining credit cards, the Capital One® Savor® Cash Rewards Credit Card offers some of the best value you can get.
You'll get a big one-time cash bonus after you spend a certain amount during the first few months with the card, 4% cash back on dining and entertainment purchases, bonus offers with select dining and entertainment merchants, and access to special dining experiences.
Consider your spending habits before you apply, though, to make sure you can get enough value to make up for the card's annual fee after the first year. Take some time to get to know this card and its potential alternatives before you apply.
Great Rewards on Dining and Entertainment
The card offers unlimited 4% cash back on dining and entertainment. For dining, that includes restaurants, cafes, bars, lounges, fast-food chains and bakeries. As for entertainment, you'll get the bonus cash back on movies, sporting events, theater, amusement parks, tourist attractions, aquariums, zoos, dance halls and other purchases.
New cardholders will get a one-time cash bonus of $300 after they use this card to spend $3,000 within the first three months of having it. Cardholders also earn 2% cash back at grocery stores and 1% cash back on everything else.
The card is a solid choice if you spend a lot of money eating out and on entertainment. If you don't, though, you may not get enough value to make up for the card's $95 annual fee, which is waived the first year.
If you're unsure, take a look at your spending over the past few months and apply the card's rewards rates to see how much cash back you would earn over the course of a year. If it doesn't exceed $95 or the amount you can get from a card that doesn't charge an annual fee, this might not be the right card for you.
Also, keep in mind the low 1% cash back rate on purchases that aren't counted as a bonus category. Consider pairing this card with another one that offers 1.5% or 2% cash back on everything and use both cards to maximize your rewards.
The Chase Freedom Unlimited® and Citi® Double Cash Card are solid flat-rate cash back cards to consider.
To further maximize your rewards, consider picking up the tab when you're out with friends and have them pay you back. That way you'll get the bonus rewards on everyone's bill and not just yours. Just be careful to do it only with friends who won't stick you with their portion of the bill.
Perks and Benefits to Complement Your Rewards
In addition to a solid core rewards program, the card offers other valuable perks that can make it easier to stomach its annual fee.
You'll earn a whopping 8% cash back on tickets to sporting events, concerts and theater through Vivid Seats through May 2020.
In addition to those special offers with specific merchants, Capital One also provides cardholders with access to special culinary, music and sporting events. Check upcoming and past events to see if there are any that interest you.
Shopping and Travel Perks
Capital One credit cards come with a handful of protections that can give you some peace of mind. They include:
- Travel accident insurance
- Rental car insurance
- Roadside assistance
- Extended warranty protection
- Complimentary concierge service
- Travel assistance services
- No foreign transaction fees
You'll also get some extra security when shopping online thanks to virtual card numbers. You can generate a temporary virtual card number to make an online purchase. If someone manages to get hold of that number, you just need to cancel the number. This avoids all the hassle involved with asking for a new card with a new number and updating your billing information.
Convenient Mobile App
The Capital One mobile app has several features that make it safer and more convenient to use this card. If your card is lost or stolen, you can use the Capital One app to lock it, then unlock it again once you've found it. You can also use the app to view and export your monthly statements, report fraud and redeem your cash back rewards for a statement credit.
Eno is a virtual assistant that keeps track of your spending and can give you valuable tips. For example, if you have a duplicate charge or a recurring bill increases suddenly, Eno will let you know so you can address it.
You can get virtual card numbers through Eno and text the virtual assistant anytime to get real-time information about your account.
Keep Costs Down and Maximize Rewards
It's always a good idea to avoid paying interest on a credit card, but that's especially the case when the annual percentage rate (APR) is high.
With the Capital One® Savor® Cash Rewards Credit Card, you could end up with a hefty interest rate, depending on your creditworthiness. Plus, there's no introductory 0% APR promotion, which you can get with many other cash back credit cards.
If you're paying interest every month, it could neutralize some of the value of the rewards you earn—especially if your card's APR is on the high end.
Also, remember that the card has no annual fee the first year, then $95 after that. It can be easy to justify having the card during the first year, but try to gauge your spending before you get the card to see if you'd get enough value out of it to cover the yearly cost after that.
If you're looking for great rewards on dining and entertainment without an annual fee, consider its sister card, the Capital One® Savor® Cash Rewards Credit Card. The SavorOne® card has no yearly cost and a lower minimum ongoing APR, but has a more meager rewards rate on food and entertainment.
|Purchase APR: 15.99% - 24.99% (Variable)||Grace period: 25 days|
|Transfer APR: 15.99% - 24.99% (Variable)||Annual fee: $0 for the first year, then $95|
|Cash advance APR: 24.99% (Variable)||Balance transfer fee: 0% at the standard balance transfer APR; 3% if you receive a promotional APR offer|
|Minimum interest charge: None||Cash advance fee: 3% of the advance amount or $10, whichever is greater|
|Foreign transaction fee: None|
|Late payment fee: Up to $39|
|Returned payment fee: None|
As the primary account holder, you can add authorized users to your Capital One® Savor® Cash Rewards Credit Card account at no charge. They'll receive a card with their name on it and share your credit line. You'll earn rewards on an authorized user's purchases, but you'll also be responsible for paying any debt they incur.
To add an authorized user, you'll need the person's name, phone number and date of birth. Read the bank's authorized-user policy for more information.
Is This Card Right for You?
If you spend a lot on dining and entertainment, the Capital One® Savor® Cash Rewards Credit Card should be on your radar. The card's bonus rewards on those categories and its added perks can provide a lot of value.
But if you don't spend much in those areas of your budget or you're not a big spender in general, the card's annual fee is a major obstacle. Before you apply for the card, take some time to research other options and compare the features that matter the most to you.