The Capital One Savor Cash Rewards Credit Card offers a flavorful blend of cashback rewards for those who savor dining out, grocery shopping, and entertainment. With no annual fee to dilute its value, this card is perfectly seasoned for the spender who prefers a simple yet rewarding cashback structure.
The Sign-Up Bonus
New cardholders can enjoy a $250 cash bonus after just spending $500 within the first three months, serving as a delectable introductory offer that's competitive among no-annual-fee cards.
If you have a qualifying Venture card, you can move your cashback rewards to become transferable C1 miles. This allows you to then book flights at higher values than just 1 cent per mile ($250 cashback = 25,000 miles). In this article, we may interchangeably refer to the Savor's cashback earnings as "miles."
Introductory APR
This card also has an awesome introductory APR: 0% intro APR for 15 months on purchases and balance transfers; 19.74% - 29.74% variable APR after that. This means that you don't have to pay back expenses on this card for up to 15 months (just pay the minimum and you're all set). You can also do balance transfers to this card to consolidate debt or take advantage of the introductory 0% interest APR (there are fees).
Epicurean Earning Rates
The Savor has a decent array of spending multipliers that easily make it a top-of-wallet card:
- 3x points on dining, entertainment, streaming services, and at grocery stores.
- 1x on all other purchases
The ability to earn 3x on dining + at grocery stores for a $0 annual fee card is an incredible combo in itself—Chase cards quiver at the sight of this (none of them offer this type of earning potential). This card can easily be a top choice for many, with strong categorical earnings for high frequency purchases.
No Annual Fee
One of the best things about this card is that there's no annual fee. You just get it and forget it—use it for groceries and dining, rack of tons of cashback/miles, and then eventually use them for high value flights.
No Foreign Transaction Fees
All Capital One cards offer no foreign transaction fees for purchases outside of the United States, including this no annual fee one. For context, it's typically rare for no annual fee cards to have no foreign transaction fees. Furthermore, as a Mastercard, you'll be able to easily use it in a wide variety of countries.
Incredible: 10x Miles/10% Cashback On Uber Rides + Uber Eats
In 2023, the Savor announced a partnership with Uber that catapulted the value of this card even further. Eligible Savor cardholders get the following benefits with Uber:
- 10x points on purchases with Uber and Uber Eats
- Complimentary Uber One membership statement credits
While these perks are set to expire on November 14, 2024, they currently have tremendous value. Hopefully, Uber and Capital One decide to extend this partnership, as the value you can derive from it is immense.
50% off Handcrafted Beverages At Capital One Cafés
One cool benefit of owning a Capital One card is the ability to get 50% off drinks at Capital One Cafés worldwide. Since I've lived in New York and San Francisco, this benefit has come in handy several times. Not to mention, it's nice to stop by a random city and find a Capital One cafe for a quality drink made a little cheaper with my card.
How To Maximize Your Cashback & Turn It Into Miles
When you have a SavorOne card, you'll see it in your account as accruing cashback. However, there is a way to convert your cashback into (much more useful) Capital One miles that will allow you to unlock significant value out of your travels/miles.
Conclusion
The Capital One Savor has tremendous potential both as a beginner miles card or as a late game play for even some with many cards. With incredible earning potential and awesome benefits with discounted drinks + Ubers, there's a lot to do with this card.
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