Capital One Savor credit card review: Full details

The Capital One Savor Cash Rewards Credit Card is a popular cash-back credit card that offers high earning rates on dining, entertainment, and popular streaming services. With a $95 annual fee, it may seem like a steep price to pay, but if you spend enough in these categories, the rewards can easily offset the fee. In this article, we will take a closer look at the Capital One Savor Card and its features.

One of the standout features of the Capital One Savor Card is its generous welcome offer. Currently, the card offers a $300 sign-up bonus after spending $3,000 on purchases within the first three months. While this may not be the highest bonus available, it is one of the highest for a personal cash-back card, making it a respectable amount to justify adding the card to your wallet.

However, it’s important to note that Capital One has some application rules that may restrict your eligibility for this card. For example, you can only have two personal Capital One cards at a time, so if you already have two, you won’t be eligible for the Savor Card. Additionally, Capital One tends to limit applicants to one new card every six months, including both business and personal cards. So, if you’ve recently opened a Capital One card, you may not be eligible for the Savor Card. It’s important to keep these restrictions in mind to maximize your chances of approval.

In terms of benefits, the Savor Card offers some valuable perks. Cardholders will enjoy secondary car rental insurance, travel accident insurance, extended warranty, and complimentary concierge services available 24/7. The concierge service can be particularly useful for making restaurant reservations or getting trip-planning advice. Additionally, Savor cardholders have access to premium experiences in dining, entertainment, and more as part of their membership. This includes exclusive events such as festivals, sports games, and concerts.

When it comes to earning cash back, the Savor Card offers competitive rates. Cardholders can earn 4% back on dining, entertainment, and popular streaming services, making it an attractive option for those who frequently spend in these categories. Additionally, the card offers 3% back at grocery stores (excluding superstores like Walmart and Target) and 1% on all other purchases. The highlight here is the 4% back on dining and entertainment, which can add up quickly for those who frequently dine out or attend events.

Redeeming cash back with the Capital One Savor Card is simple and straightforward. One dollar in cash back is always worth one dollar, so there’s no need to worry about maximizing redemption value. Cardholders can request their cash back as a statement credit, check, or redeem it for gift cards or charitable donations. It’s recommended to cash out your rewards as frequently as possible and put the money back into your checking or investment account.

While the Capital One Savor Card offers strong cash-back earning rates and valuable benefits, it’s important to consider whether the $95 annual fee is worth it for your spending habits. If you frequently spend in the card’s bonus categories and can earn enough rewards to offset the fee, then it’s a great option for you. However, if you’re unsure about justifying the fee, the no-annual-fee SavorOne Card might be a better choice.

In conclusion, the Capital One Savor Cash Rewards Credit Card is a competitive cash-back credit card that offers strong earning rates on dining, entertainment, and popular streaming services. With valuable benefits and a generous welcome offer, it’s a great option for those looking for a simple and straightforward cash-back card. However, it’s important to consider your spending habits and determine if the annual fee is worth the rewards you can earn.

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