Savor cash rewards review
This card might be something you want to keep in your wallet if you're the type of person who frequents restaurants and events frequently.
What do I need to know about the Savor Cash Rewards?
The Capital One Savor card promotes itself as the perfect card for people who go out a lot.
The card offers 5% cash back on lodging and auto rentals reserved through Capital One Travel, 4% cash back on all restaurants, entertainment, and popular streaming services, 3% cash back at supermarkets, and 1% cash back on all other transactions.
Additional entertainment perks include access to VIP ticket packages for sports, concerts, and lavish dining events at a reduced price. It’s one of a select few cards that give more points for spending money on entertainment.
Also, the card promotes itself to travelers: The Capital One Savor is a good choice for those who frequently travel abroad because it has no foreign transaction fees and extras like travel accident insurance, round-the-clock travel assistance, and concierge services.
Keep on reading and check out how this card works, and if it fits you.
How do the Savor Cash Rewards work?
The Capital One Savor card offers unlimited cash-back rewards that can be earned in a number of different categories.
Capital One Travel customers receive 5% cash back on all hotel and rental car bookings, 4% cash back on all dining and entertainment expenses, 3% cash back at grocery stores, and 1% cash back on all other transactions.
The Savor gives new customers a $300 cash prize once they spend $3,000 within three months of creating their accounts.
How do I get these points?
Utilizing rewards with the Capital One Savor card is simple enough. Rewards can be requested as a statement credit or cheque by cardholders.
Both an annual automatic redemption date and an automatic redemption threshold are other ways to automate cash-back redemptions.
The predetermined amount will be credited or released after the user-set threshold has been reached. These allotted sums begin at $25 and rise gradually to $1,500.
In addition, rewards can be exchanged for purchases, gift cards, and other incentives, albeit the rate of exchange may differ.
Through CapitalOneTravel.com, you may also use your rewards to book travel.
Although the redemption rate is less than one penny per point, it is possible to use rewards earned from the card to make purchases on PayPal and Amazon websites.
How much cashback can I get with this card?
We must examine the bonus categories and estimate how much an American household may spend in each one in order to assess the rewards potential of the Capital One Savor card.
We base spending on household income in the 70th percentile, which is $107,908 per year.
Let’s assume that the $7,057 in dining, entertainment, and streaming expenses for our hypothetical household total $282.28 in cash back each year.
The household would receive $189.66 cash back for the $6,322 it spends on groceries, and $186.93 cash back for the remaining $18,693 that might be justifiedly charged on a credit card.
This implies that in addition to the initial bonus, the card would earn a total of $658.87 in cash back each year.
Savor Cash Rewards benefits
Early spending bonus
Spend $3,000 in the first three months following account opening to receive a $300 cash bonus.
Through a special booking page, cardholders will have exclusive access to buy tickets for sporting events, concerts, and dining experiences.
Capital One Entertainment offers you the choice of paying for tickets with points, your card, or a mix of the two.
Lots of protection
On purchases made with this card, cardholders will also receive extended warranty protection and travel accident insurance.
No Foreign fees
There is no international transaction fee when using your card outside of the United States. If you frequently go abroad and want to charge purchases to your card, this is a significant saving since other credit cards might occasionally charge as much as 3%.
How to apply for your Savor Cash Rewards?
If you got interested in this card, check out our article on how to apply for it