Capital One Savor Cash Rewards Guide

Have you been craving cashback? The Capital One Savor Cash Rewards credit card is designed to satisfy your appetite for cash rewards if you regularly spend your appetite on meals and groceries.

Recognised as one of the best credit cards in restaurants, Capital One Savor Card benefits foodies and home bodies by earning cashback in entertainment and streaming. This card offers a generous 3% cashback reward rate with annual fees and a low introductory APR.

Here’s what you need to know about the rewards of Capital One Savor Credit Cards and how to make the most of them.

Why is Capital enjoying cashback reward cards?

Cashback is on top of the capital list and has the advantage of one flavor card. Earn solid cashback reward rates with meals, groceries, entertainment and popular streaming services. There is no limit to cashback rewards and you can redeem any amount at any time. If you are a university student, you can use the capital.

You can add it to your cashback total when you qualify for a referral welcome bonus. If you spend $500 in the first three months, you can earn $200. There is no annual fee or foreign transaction fee for the Capital One Savor Rewards card. For both purchases and transfers, the introductory APR is low.

If this card has a drawback, it means you’re earning more cashback than other purchases. If you want to earn flat cashback reward rates or all the points you buy, you may prefer a different card.

The capital is enjoyed at a glance

Unlimited 3% cashback for dining, groceries, entertainment and streaming services, 1% cashback for all purchases 29.24% fluctuation since APR)

Benefits of Capital One Savor Card

Remuneration rate

Capital One Savor’s Rewards is designed with certain types of spenders in mind. Earn 3% cashback on food, entertainment, groceries and popular streaming services. This card also offers an unlimited 1% on all other purchases.

So, how much can you earn with cashback with the Capital One Saval Card every year? It depends on how you use it. Charging $3,000 in these categories monthly will earn you $1,080 cashback rewards for your annual purchases. If you charge $2,000 per month on other purchases, you will receive a $240 reward and your annual cashback is $1,320.

Sign Up Bonus

As mentioned above, if you qualify for the Introductory Welcome Bonus, you can increase your Savor Credit Card rewards. Eligible card members will earn a one-time cash bonus of $200 if they spend $500 within the first three months of opening an account. So, on average, you should charge $167 a month.

The bonuses are competitive, with minimum spending requirements lower than some cashback cards that reward meals. For example, the Citi CustomCash℠ card offers the same $200 referral welcome bonus, but you must spend $750 in the first three months of your account to qualify.

There is no annual fee

Paying annual fees to pay annual fees to earn cashback rewards makes sense if you are earning a large reward rate or if you are charging enough to repay the fees for your compensation each year. Luckily, the Capital One Savor Wards credit card avoids discussing whether it is worth it, as it is not worth paying the annual fee.

Capital One Savor Cash Rewards Credit Card* will charge you an annual fee. However, you can get a higher cashback reward rate (4% vs. 3%) that could justify the cost.

There are no foreign transaction fees

Foreign transaction fees can make international purchases more expensive. The typical fee is around 3%, but some cards may be charged more or less. Like other Capital One cards, Savor Cards do not charge any foreign transaction fees.

Other Benefits

The advantages of the Capital One Savor Card exceed cashback rewards. If you need to book a reservation at your favorite restaurant, get concert tickets, or book travel arrangements, you can also use our 24/7 concierge service. Travel assistance services are available 24 hours a day if you encounter problems while traveling and have travel accident insurance.

Covered by extended warranty protection, you can set up instant notifications to alert you of new purchases. Capital One CreditWise monitoring makes it easy to track your monthly credit score. If your card is lost or stolen, you will be covered by $0 debt fraud protection. If you lose your card or it’s stolen, you can lock it via the Capital One mobile app. Customer Service Representatives are available 24 hours a day, 7 days a week if you have questions or need help with your account.

Maximize your Savor Rewards card cashback rate

Maximizing cashback rewards with a Savor card is as easy as being strategic about how you will spend it.

First, we recommend spending at least $500 on eligible purchases in the first three months to qualify for the $200 Introductory Sign-up Bonus. At the same time, you’ll want to focus on spending on purchases that earn a 3% cashback reward rate.

You can maximize your reward by setting up automatic payments for streaming services or adding a card as a default payment option to your mobile wallet. You can also increase your rewards through Capital One Shopping. This Chrome browser extension allows you to earn rewards online at Walmart, eBay and other top retailers. Capital One Shopping includes built-in price protection so you can get the best deals possible on what you buy.

How to redeem cashback with Savor Card

When choosing a cashback reward card, it helps you know how you can use the rewards you earn. Redemption is flexible and there are many ways to put your taste cashback rewards in your work, including:

Chase BackStatement CreditGift Card Shopping with Amazon.comPay at checkout with PayPal

The rewards are worth 1 cent each for redemption. You can redeem your reward anytime, at any time. If you wish to use rewards for payments via PayPal or Amazon, you will need a PayPal account or Amazon account.

If you want to keep things simple, you can set up automatic redemption once your reward balance reaches a certain threshold. For example, you can set up a reward and redeem it for $25, $50, or $100. You can also transfer rewards between one eligible capital credit card account.

Conclusion

The Capital One Savor card is perfect for those who want to earn competitive reward rates for meals, entertainment, groceries and streaming without paying an annual fee. You can also consider this card if you are planning a large purchase or balance transfer and would like to take advantage of the 15-month 0% APR introductory offer (after which, 19.24% to 29.24% Variable APR). Calculating monthly averages and annual purchases allows you to determine whether your Savor card is suitable for your spending style.

*All information about Capital One Savor Cash Rewards Credit Cards is collected independently by CreditCards.com and not reviewed by the issuer.

Lake Rebecca is a freelance writer and blogger specializing in personal finance. Her specialties include credit cards, debt management and personal money management. She began writing for Creditcards.com in 2018. There, I write articles on topics ranging from credit score management to travel rewards and small business credits. She is quoted in her father’s unified credits and has grown from the likes of Acorns and The Haven Life blog.