Savor cash rewards review
This card could be worth keeping in your wallet if you're someone who regularly visits restaurants and attends events.
Discover the Benefits of the Savor Cash Rewards
If you find yourself frequently dining out and enjoying entertainment activities, the Capital One Savor card may be the perfect match for you.
With the Savor card, you can earn cash back on your expenses. It offers 5% cash back on lodging and auto rentals when booked through Capital One Travel, 4% cash back on all restaurant, entertainment, and popular streaming service purchases, 3% cash back at supermarkets, and 1% cash back on all other transactions.
In addition to cash back rewards, the Savor card provides access to VIP ticket packages for sports, concerts, and lavish dining events at a discounted price. This makes it an excellent choice for individuals who enjoy spending on entertainment.
Furthermore, the card offers various travel benefits such as no foreign transaction fees, travel accident insurance, round-the-clock travel assistance, and concierge services, making it a suitable option for frequent travelers.
Let’s take a closer look at how the Savor Cash Rewards work.
How Do You Earn Savor Cash Rewards?
The Capital One Savor card allows you to earn unlimited cash-back rewards across different spending categories.
When you book hotels and rental cars through Capital One Travel, you’ll earn 5% cash back. Dining and entertainment expenses will earn you 4% cash back, while supermarket purchases will earn 3% cash back. All other transactions will earn you 1% cash back.
Additionally, new customers have the opportunity to earn a $300 cash bonus after spending $3,000 within the first three months of opening their accounts.
Redeeming Your Savor Cash Rewards
Redeeming your Savor Cash Rewards is straightforward. Cardholders can request rewards as a statement credit or a check.
Furthermore, you have the option to set an annual automatic redemption date or an automatic redemption threshold for cash-back redemptions. Once the user-defined threshold is reached, the predetermined amount will be credited or released. Redemption thresholds start at $25 and increase gradually up to $1,500.
You can also exchange your rewards for purchases, gift cards, and other incentives, although the exchange rate may vary. Another option is to use your rewards to book travel through CapitalOneTravel.com, although the redemption rate is slightly less than one cent per point. Additionally, rewards earned from the Savor card can be used for purchases on PayPal and Amazon websites.
Maximizing Your Savor Cash Rewards
Let’s explore the potential cash-back rewards for an American household based on the bonus categories and estimated spending.
Assuming a household income in the 70th percentile ($107,908 per year), we can estimate their annual cash back. Let’s say the household spends $7,057 on dining, entertainment, and streaming services, which would earn them approximately $282.28 cash back. Additionally, the household spends $6,322 on groceries, earning them $189.66 cash back. The remaining $18,693 in expenses charged to the card would earn them $186.93 cash back. Combining these amounts, the household can receive a total of $658.87 in cash back annually, excluding the initial bonus.
Benefit from Savor Cash Rewards
Early Spending Bonus
By spending $3,000 within the first three months of opening your account, you can receive a $300 cash bonus.
CapitalOne Entertainment
Cardholders gain exclusive access to purchase tickets for sporting events, concerts, and dining experiences through the Capital One Entertainment special booking page. You have the option to pay for these tickets using your points, your card, or a combination of both.
Protection Features
Enjoy extended warranty protection and travel accident insurance on purchases made with the Savor card.
No Foreign Transaction Fees
When using your Savor card outside of the United States, you won’t incur any international transaction fees. This can lead to significant savings, especially for frequent travelers, as some other credit cards charge as much as 3% for international transactions.
How to Apply for Your Savor Cash Rewards
If you’re interested in applying for the Savor Cash Rewards card, you can find more information in our article on how to apply.
