Today we are going to talk about the Capital One Savor cash rewards credit card and how it does in 2019 given that they have added several new partners.
Table of Contents
Great Sign-up Bonus
The Capital One Savor card has an excellent sign-up bonus, very good multipliers, and a downgrade path to a no annual fee card in the second year if you realize that this card isn’t for you. If you travel a lot, you’ll be glad to know that there are no foreign transaction fees.
One of the key benefits of the card is that you’re going to get a $500 cash back signup bonus for $3,000 of minimum spend in the first three months. This sign up gift is relatively high for a cash back bonus; a lot of other ones are about a $150 back after $500 of minimum spend, so this is like low-hanging fruits if you have regular spend, but if you have high spends you’re going to easily pass this in maybe one or two weeks.
$500 cash back divided by $3,000 minimum spend is going to be about 17% return on your spend, so right off the bat that’s already a great perk without even considering the other multipliers.
Other Savor One Card Benefits
First of all, you will receive 8% cash back for Vivid Seats. With this, you can buy tickets for sporting events, concerts, and musicals. If you’re someone who goes to a lot of concerts or you like sports, this ends up being a no-brainer. 8% cashback is pretty much unseen in terms of other cards. At the time of writing this review, some of the events found at Vivid Seats were Jennifer Lopez, Ariana Grande and Michael Buble concerts, MLB baseball, NCAA tournaments, and the Hamilton musical, among hundreds of others.
For dining, you’re going to get 4% cash back, and the same theme for entertainments. Dining is pretty straightforward, so we’re not going to dive into that one as much. Entertainment is exciting because it’s an extensive category. One advantage for the dining category is that, for this card, bars and nightclubs do work. Some people complained about the Amex Gold card that you’re not getting points back for alcohol.
So, getting back to entertainment, it is a giant list, so we’re not going to go through it all. The quite interesting ones are movie theaters, sports, tourist attractions, and exhibits, amusement parks, carnivals and circuses, and aquariums and zoos.
If you’re someone who travels you know that those end up being very high-spend categories. Amusement parks end up being a very advantageous one, especially if you go to places like Universal or Disney World because those trips end up being very expensive. The average trip is about 1,200 or 1,500 dollars per person, so if you have a family of four, that’s about $6,000 for food, tickets, and accommodations, before even considering the tickets there to fly.
Finally, grocery stores are going to get 2% back, and for all other purchases, you’re getting 1% back.
In The Mood For Some Delivery Food?
Another benefit is access to Postmates Unlimited, for free delivery on your orders. This includes more than 300,000 restaurants as long as your order is above $15. You won’t be paying blitz pricing or have any minimum basket restrictions. And by using this benefit, you also earn that extra 4% cash back on dining.
All the rewards you earn will be valid for the lifetime of your account, so no more worrying about expiring rewards as with other cards. You can redeem cash back for any amount you desire.
The biggest Savor One Credit Card Con
The significant disadvantage on this card is that there is an annual fee ($95), but it’s waived in the first year. So in the first period, this card is a no-brainer: good sign up bonus and very good multipliers; but in the second year what are you going to do? For some people, based on your spend -especially for entertainment- it’s going to make sense to keep this cardIf you are someone who goes to Disney World every year or Universal every year you’re going to easily break even on this card, if not come out ahead. For other people, if you start to get negative expected value or if you have better options in terms of opportunity cost, then we would recommend downgrading this card to the no annual fee Savor One credit card. It’s basically the same type of card, but the multipliers are a bit smaller.
Knowing Capital One and their strategy with partners, at some point even if they get rid of the current partners they will add new ones and make sure that the card is very competitive.
Annual membership fee
foreign transaction fee
16.74% - 25.74% variable APR
$0 first year, $95 after
Main benefits and perks
Premier Culinary Experiences
Complimentary Concierge Service
Travel Accident Insurance
Auto rental collision damage waiver
$500 cash bonus once you spend $3,000 on purchases