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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

Capital One Savor Credit Card Annual Fee – Worth It for a Cashback POWERHOUSE?

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Capital One Savor Credit Card Annual Fee – Worth It for a Cashback POWERHOUSE?

Joseph HostetlerCapital One Savor Credit Card Annual Fee – Worth It for a Cashback POWERHOUSE?Million Mile Secrets Team

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INSIDER SECRET:   The Capital One® Savor® Cash Rewards Credit Card offers 4% back on dining. But that doesn’t just mean restaurants. You’ll get 4% cash back at bars, bakeries, and more.

Welcome bonuses are just not enough to convince customers to focus on one credit card and ignore the others for long. They’re more the icing on the cake, the extra boost that causes you to break down and apply. If you can’t decide between two cards with similar benefits, choose the one with the better welcome bonus.

The true substance of a card, though, is its ongoing benefits. Does the card have valuable perks that offset its annual fee? Can you earn rewards quickly and easily? Are the rewards even useful??

I’ll help you decide if it’s worth paying the Capital One Savor Credit Card annual fee.

The Capital One Savor Credit Card annual fee is worth it for sports fans like me. You earn 4% cash back for sporting events, and 4% cash back when you buy food inside the stadium!

Capital One Savor Credit Card Annual Fee

Apply Here:   Capital One® Savor® Cash Rewards Credit Card

Read our review of the Capital One® Savor® Cash Rewards Credit Card

With the Capital One Savor, you earn 4% cash back on dining (basically ANYWHERE that serves food, including bakeries or bars). You earn 4% cash back on the broad category of entertainment (anything from zoos to bowling alleys to movie theaters to athletic fields). You earn 2% cash back at grocery stores (just about any grocery store or supermarket except Walmart and Target).

Oh yeah, it also comes with a $300 welcome bonus after spending $3,000 on purchases within the first three months of account opening.

Chase doesn’t have a card with earning rates like this. Citi doesn’t have a card with earning rates like this. They’d better retaliate with similar cards of their own or they’re going to lose a lot of swipes to Capital One. Including mine.

This is going to sound ridiculous, but I love it that the card doesn’t have a bonus on travel. Every card and its mother earns bonus rewards on travel and they, in turn, water down the rest of their bonus categories. But the Capital One Savor skips the travel category and focuses the cash back in other areas.

There are plenty of heartthrob credit cards for travel to choose from. And you should definitely have one of them to protect you from things like flight cancellations, delayed baggage and rental-car crashes.

But those cards are rarely the best choice for the lion’s share of your everyday expenses, like groceries.

Easy to Earn, Easy to Redeem

From what we’re hearing from folks about the Capital One Savor, y’all have been waiting for a card like this for a while. No rotating categories you have to remember and opt into. No confusing transfer partners.

True, it doesn’t earn points that you can use for a free-award night at an amazing hotel. It earns something even more valuable: Straight-up cash. You can use that cash for a night at an amazing hotel if you like. Or you can use it to pay utilities, or for an oil change, a new TV or a flight to Australia.

The MMS team brings this card up often. A lot of us intend to open it because its earnings are so great.

It comes with a $95 annual fee, waived the first year. So you can try it out for free one year and see if it’s actually worth the annual fee. But because this card possesses the bonus categories of a few different cards, this could be a good way to consolidate your wallet by getting rid of some of those other cards and saving money on those annual fees.

Bottom Line

I wasn’t too hot on the Capital One Savor in the beginning, but I’m realizing how solid this card is for the vast majority of us. It takes in the bulk of the spending most of us do every day. You’ll earn 4% cash back for dining and entertainment, 2% cash back at grocery stores, and 1% cash back on everything else.

I’ll definitely open it for a year and test it out. It comes with a $300 welcome bonus after meeting minimum spending requirements! And I spend an unbelievable amount of money in those bonus categories.

Hopefully other banks are having the same epiphany as I, and are scrambling to answer with a card of their own. I’ll gladly give them all a test drive if they come with an equally generous welcome bonus.

For more information about this card, check out these articles:

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Capital One® Savor® Cash Rewards Credit Card

Capital One® Savor® Cash Rewards Credit Card

  • Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening
  • Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.
  • Receive a monthly statement credit for a Postmates Unlimited monthly membership through Dec. 2019 with the Capital One Savor Card
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
  • No foreign transaction fees
  • Capital One cardholders get access to premium experiences in dining, entertainment and more
  • $0 intro annual fee for the first year, $95 after that

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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With American debt such a huge issue right now I find it borderline unethical that you leave it to readers to figure that that in order to begin making a net BONUS from the card , assuming they use it for nothing other than dining and entertainment for the 4%, they need to spend a MINIMUM of ~2450$ a year… Anything after the first 2450$ then becomes cash back….. That’s roughly 204$ a month. Just to break even…. you should have included a suggested minimum salary range necessary for people who are interested in this card…. And encouraging people to sign up for credit cards just to check it out? … Oh I see it now, This is a paid advertisement (as plainly stated at top) but it’s disgustingly misleading and unethical.

Brandon,

This is hardly unethical. People can do the math, as you did. Any cash back card (or any card) with an annual fee requires doing math.

Hi Brandon – thanks for commenting. Our #1 rule with rewards credit cards is to pay off the balance in full each month. Paying interest & fees offsets the value of any rewards.

I’m not certain I understand your analysis on the monthly spending. This card offers a $500 sign-up bonus and no annual fee the first year. The value of the sign-up bonus alone offsets the annual fee for several years. And this doesn’t take into consideration the cash back you’ll earn the first year with the card while paying no annual fee.

Also, you can get significant value from the card beyond just the cash back categories. For example, the card comes with extended warranty protection. On a different card with similar coverage, my friend got $2,000 back from the bank after his flat screen television stopped working after the manufacturer’s warranty coverage. He was glad he continued to pay the card’s annual fee over the years.

Keith, why does your comment state a $500 bonus but the article states “Oh yeah, it also comes with a $300 welcome bonus after spending $3,000 on purchases within the first three months of account opening.” ??

I’d like to get this card, but don’t want to risk denial since Capital One has a reputation for doing hard pulls against all three bureaus. So even though I’ve got FICO well over 800 and no new cards in six months, the https://www.capitalone.com/credit-cards/prequalify does NOT tell me I’m prequalified for Savor (just two other cards with no bonuses), I don’t think I’d get approved.

Hi Georgette – in my experience, new cards don’t always appear on the banks prequalified pages. From data points I’ve read online, it seems like you would be eligible for the card based on your credit score. That said, the banks always make the final decision on a card application. Let us know if you decide to apply!

I thought about that but the graphic on the pre-qualify page does show the Savor card. I do play the rewards card game frequently so three hard pulls would be costly.

I don’t know the extent that it is true, but other data points are out there that Capital One specifically targets heavy credit card users who may from time to time miss a payment. Many with near perfect scores and without too many new credit cards have been denied Savor.

I get where you’re coming from. But I have a similar FICO score (800+) and while no one likes 3 hard pulls, it usually bounces back in 2 or 3 months as long as your make timely payments. Also, you’re utilization ratio usually goes down when you have a new credit line.

Love the way you write, and very helpful info! 🙂

Definitely makes me me wish I had gotten the card earlier, to get grandfathered with no fee.

Entertainment is definitely a category that could use more love, I think Citi thankyou cards are the only other option there.

I wonder if gyms and races count as entertainment, I know plenty of people who pay for a 5k every other week.

I think, think being the key word, that the Hyatt Chase card offers 2X points or something like that at gyms.

Great question about 5K’s.

Good question…we’ll look into data points on those purchases.

i am SOOOO glad i was an early adopter to this card – i did a product change when this card was first introduced. Now, they upgraded me to the top version and waived the annual fee permanently.

That’s terrific! Thank you for commenting!

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