What the Savor Card Offers and Who Should Consider It
The Savor card from Capital One is a cash-back card designed for people who eat out, travel, or entertain regularly. It returns 3% cash back on dining, entertainment, and streaming services, and 1% on all other purchases. There is an annual fee of $95, which means you need to spend enough in the bonus categories to make the rewards worth more than what you pay.
Whether the Savor is a good fit depends on your actual spending patterns. If you spend $3,000 or more per year on dining and entertainment combined, the 3% cash back could exceed the annual fee. If you spend less than that, or if you rarely eat out, the card will cost you money rather than save it.
Capital One also offers a no-annual-fee version called the Savor One card, which earns 3% cash back on the same categories but has no yearly cost. The Savor One is worth comparing directly to the Savor before you decide.
Key Takeaways
- The Savor card charges a $95 annual fee and returns 3% cash back on dining, entertainment, and streaming — you need roughly $3,000 in annual spending in those categories for the rewards to cover the fee.
- The Savor One card earns the same 3% cash back with no annual fee, making it a stronger choice for most people unless you spend heavily enough to justify the extra cost.
- Capital One typically approves people with fair credit or better, though the card itself does not may provide approval based on credit score alone.
- The card has no sign-up bonus, so you start earning rewards only on purchases you make after approval.
- Cash back is paid as a statement credit or deposited to your bank account — you do not have to redeem it through a portal or points system.
How the Rewards Actually Work
The Savor earns 3% cash back on dining (including food delivery), entertainment (movies, concerts, sporting events), and streaming subscriptions. Everything else earns 1% cash back. The rewards are straightforward: you spend, the cash back posts to your account, and you can use it as a statement credit or transfer it to a linked bank account.
There is no cap on how much cash back you can earn, and there is no expiration date on rewards. If you earn $500 in cash back over a year, it stays in your account until you use it. This matters because some cards expire rewards after a set period or cap how much you can earn per year.
The 3% category is broad enough to include most restaurant spending, but it does not cover grocery stores or gas stations. If you are looking for a card that rewards grocery shopping, the Savor is not the right choice.
The Annual Fee and Whether It Pays Off
The $95 annual fee is charged once per year, usually on your card anniversary. To break even, you need to earn at least $95 in cash back. At 3% on dining and entertainment, that means you need to spend about $3,167 per year in those categories — roughly $264 per month.
If you spend $5,000 per year on dining and entertainment, you earn $150 in cash back, which means the card nets you $55 in value after the fee. If you spend $2,000 per year, you earn $60 in cash back, and the card costs you $35.
The Savor One card has no annual fee and earns the same 3% cash back. If you are not certain you will hit $3,000 in annual dining and entertainment spending, the Savor One is the safer choice. You lose nothing by choosing it, and you gain the same rewards if your spending does increase.
Credit Requirements and Approval Odds
Capital One typically targets people with fair credit or better for the Savor card. That usually means a credit score of 670 or higher, though Capital One does not publish exact score requirements. The company reviews your full credit history, not just your score, so approval is not may provide even if your score is in range.
If you have been denied for other cards recently, or if you have missed payments in the past two years, your odds of approval are lower. Capital One does a hard inquiry on your credit report when you explore, which temporarily lowers your score by a few points.
If you are unsure whether you will be approved, you can call Capital One at the number on their website and ask about your likelihood before you explore. This does not may provide approval, but it gives you a sense of where you stand.
How the Savor Compares to Other Dining and Entertainment Cards
Several other cards also offer 3% cash back on dining. The Chase Sapphire Preferred earns 3% on dining and travel but charges a $95 annual fee as well. The difference is that the Sapphire Preferred also offers a sign-up bonus (typically 60,000 points, worth roughly $750 to $900 in value), which the Savor does not.
The American Express Blue Cash Preferred earns 3% on dining and transit but charges $95 annually and also offers a sign-up bonus. If you travel frequently, the Sapphire Preferred or Blue Cash Preferred may be worth the fee because of the bonus and additional travel benefits.
For pure dining rewards with no annual fee, the Savor One and the Chase Freedom Flex both earn 3% on dining with no yearly cost. The Freedom Flex also earns 5% on rotating categories (which change quarterly), whereas the Savor One does not. If you want the simplest option, the Savor One is hard to beat.
What Happens After You Open the Card
Once approved, your card arrives in the mail within 7 to 10 business days. You can set up it through the Capital One website or mobile app, or by calling the number on the back of the card. You can also request a temporary digital card number to use for online purchases while you wait for the physical card.
Your cash back starts posting when ready after your first purchase. You can check your balance in the Capital One app or online portal. There is no minimum cash back amount you must reach before you can use it — even $1 in rewards can be redeemed as a statement credit.
Capital One sends a monthly statement showing your purchases, cash back earned, and balance due. You can pay your bill online, through the app, or by mail. Like all credit cards, paying your full balance by the due date keeps you from paying interest.
Potential Drawbacks to Know
The Savor has no sign-up bonus, which means you do not get an when ready reward for opening the card. If you are comparing it to the Sapphire Preferred or Blue Cash Preferred, both of which offer bonuses worth hundreds of dollars, the Savor starts behind.
The card also has a relatively high annual fee for a cash-back card. Many cash-back cards charge nothing per year, so you are paying for the privilege of earning 3% on dining. If your spending does not justify that fee, you are better off with a no-annual-fee card.
Capital One's customer service is available by phone and through the app, but there is no live chat option on their website. If you prefer to resolve issues through chat, you may find the process slower.
Frequently Asked Questions
Do I have to pay the annual fee even if I do not use the card?
Yes. The $95 annual fee is charged once per year on your card anniversary, regardless of whether you use the card. If you decide the card is not worth it, you can close the account, but you will not receive a refund of the annual fee you already paid. Some people close the card after the first year if they did not earn enough cash back to justify the cost.
Can I get the annual fee waived if I call Capital One?
Capital One does not automatically waive the annual fee, but you can call and ask. If you have been a customer for a long time or have a good payment history, they may offer a one-time waiver. There is no harm in asking, but do not count on it. If the fee is not waived, you can close the card without penalty.
What if I spend most of my money on groceries, not dining?
The Savor is not the right card for you. It does not earn bonus cash back on groceries, so you would pay the $95 annual fee and earn only 1% on most of your spending. Look for a card that earns cash back on groceries instead, such as the Chase Freedom Flex or the Citi Double Cash.
Does the Savor card have travel insurance or other benefits?
The Savor includes purchase protection and extended warranty coverage, but it does not include travel insurance, trip cancellation protection, or concierge services. If travel benefits matter to you, the Sapphire Preferred or other premium cards offer more comprehensive coverage.
How long does it take to earn enough cash back to cover the annual fee?
If you spend $300 per month on dining and entertainment, you earn $9 per month in cash back, which means you need about 11 months to earn $95. If you spend $500 per month, you earn $15 per month and break even in about 6 months. The faster you reach $3,000 in annual spending, the sooner the card pays for itself.