Link: Apply now for the Capital One Savor Cash Rewards Credit Card
The Capital One Savor Card is a card that I personally have, and that I find to be quite valuable. While you can read a full review of the card, below I wanted to share six reasons that I think the Capital One Savor is worth it, especially as the card was recently rebranded. In no particular order…
In this post:
No annual fee
First and foremost, the Capital One Savor has no annual fee — not the first year, and not any year after that. Who wouldn’t want to pick up a card that has no annual fee while still offering valuable perks?
I also think it’s worth emphasizing that there’s general value to picking up cards with no annual fee. Keeping cards in the long run can help your credit score, by keeping your credit utilization low, and increasing your average age of accounts. If I’m going to hold onto cards in the long run, I prefer that they’re no annual fee ones.
Welcome bonus of $200
The Capital One Savor currently has a welcome bonus of $200 cash back after spending $500 within the first three months. Admittedly there are cards with bigger bonuses out there, but that’s quite a good offer for a no annual fee card.
That $200 cash back can potentially be converted into Capital One miles, scoring you 20,000 Capital One miles (more on that below).
No foreign transaction fees
The Capital One Savor has no foreign transaction fees, which is pretty noteworthy for a no annual fee card. I know many people want a no annual fee card that also won’t impose foreign transaction fees for purchases abroad, so this is a great card to consider for that purpose.
This is an area where Capital One leads the industry, as the issuer doesn’t have foreign transaction fees on any of its cards.
Great 3% cash back bonus categories
The Capital One Savor has some compelling bonus categories for a no annual fee cash back card. The card earns the following, all with no caps on earning:
- 3% cash back on dining
- 3% cash back at grocery stores (excluding superstores like Walmart and Target)
- 3% cash back on entertainment
- 3% cash back with select popular streaming services
- 1% cash back on all other purchases
This is among the best no annual fee cards in terms of the return on dining, grocery stores, and more.
Convert rewards into Capital One miles
While the Capital One Savor is officially a cash back card, this is even a great card for points enthusiasts. That’s because if you have the card in conjunction with a Capital One Venture Card, like the Capital One Venture X Rewards Credit Card (review), then all rewards earned on the card be converted into miles.
Specifically, each cent of cash back earned with the card can be converted into one Capital One mile, opening up all kinds of travel opportunities. Personally I value Capital One miles at 1.7 cents each, so to me that increases the value of the points significantly.
This means the 3% cash back bonus categories can really earn you 3x Capital One miles.
Amazing Capital One Venture X complement
The Capital One Venture X has become incredibly popular over the past couple of years, especially with those who are into collecting points.
While the Venture X has a $395 annual fee, in reality the card shouldn’t cost anyone nearly that much, given the $300 annual travel credit and 10,000 anniversary bonus miles. On top of that the card offers a Priority Pass membership, access to Capital One Lounges, access to Plaza Premium Lounges, great authorized user perks, cell phone protection, rental car coverage, and more.
The Capital One Savor is such a fantastic complement to this card, as it allows you to build up a portfolio of cards to maximize your Capital One miles. This card could help you earn 3x Capital One miles on dining, grocery stores, entertainment, and select streaming services, complementing the 2x Capital One miles that the Venture X offers on everyday spending.
Bottom line
The Capital One Savor is a solid no annual fee card that I personally have, and that I find to be worthwhile. The card offers 3% cash back in popular categories like dining, grocery stores, entertainment, and more, all with no foreign transaction fees.
This is a fantastic complement to the Capital One Venture X, given that the card lets you pool your rewards, and turn cash back into valuable miles. The overall value proposition of the card was enough reason for me to apply, as the card offers tangible value to me, and will also help me with maintaining a great credit score.
Anyone else see value in the Capital One Savor?
I've had your card for years,nobody needs these unnecessary offers why don't you raise people's limits,that what we want i have 2 card with you.one is paid off and when the other one is paid off, in the trash they goyouve asked my to update my income at least once a year but never raise my limit.my payment history with you has been flawless for years and you still don't raise limits.im done with you.im not interested in your meaningless offers
Are those bonus categories valid globally? I spend a good chunk of the year abroad so this card could be very useful for grocery purchases, since the AmEx Everyday I otherwise use has foreign transaction fees.
Would there be any issue transferring points between accounts if I got this card and wanted to transfer to my wife’s Venture X account? I am an authorized user on that one. Thanks!
I'm seriously thinking of applying for this card and cancelling my American Express Blue Cash Preferred to save the $95 annual fee. I use the AMEX primarily for groceries to get 6% cash back; the Savor would give me 3 points per dollar, worth (according to Ben's valuation) 5.1% (which I would transfer to my Capital One Venture X). I would have to spend over $10k on groceries to recoup the annual fee, which significantly...
I'm seriously thinking of applying for this card and cancelling my American Express Blue Cash Preferred to save the $95 annual fee. I use the AMEX primarily for groceries to get 6% cash back; the Savor would give me 3 points per dollar, worth (according to Ben's valuation) 5.1% (which I would transfer to my Capital One Venture X). I would have to spend over $10k on groceries to recoup the annual fee, which significantly exceeds not only my typical grocery expenses but also he $6000 annual maximum for the 6% cash back on the AMEX. And this doesn't even account for the sign up bonus on the Savor.
I also use the AMEX for gasoline purchases for 3% cash back; however, I can get an equivalent return by using my Hilton Surpass Card (6 points per dollar, valued at 0.5 cents per point).
Finally, Capital One credits points when a transaction clears, but AMEX doesn't credit cash back until after payment is made -- which means that I have to keep spending each month to get the previous month's credit.
I was refused the Welcome bonus because I got the Venture X within 4 years. I wasn't aware of this restriction when I applied for the card. Are they correct in their refusal?
I too have this card for the last 5years or so and I second Ben's comments. I use it for groceries , dining out etc. Capital One is a great company that provides excellent support 24/7.