Foodies can earn a generous amount of cash back on dining and entertainment purchases with the Capital One Savor Cash Rewards Card and the Capital One SavorOne Cash Rewards Card.
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If a good amount of your budget goes towards eating out and attending events, a Capital One Savor credit card could be a great fit. Along with 4 percent cash back on dining and entertainment purchases, the Capital One® Savor® Cash Rewards Credit Card offers a $300 sign-up bonus when you spend $3,000 in the first three months of card membership. Plus, the card is currently running a limited-time promotion that gives cardholders 8 percent cash back at Vivid Seats through May 2020.
The Capital One® SavorOne℠ Cash Rewards Credit Card on the other hand, offers 3 percent back on dining and entertainment and a $150 bonus after $500 spend in the first three months.
Read on for more details on these cards, including how they compare and what to consider before choosing one.
Capital One Savor Cash Rewards card details
Thanks to the Savor card’s generous rewards rate and sign-up bonus, cardholders stand to earn a high value from their rewards each year.
|Capital One® Savor® Cash Rewards Credit Card|
Why use it? If you eat out frequently and want to earn a generous rewards rate for doing so, this card is ideal. Also, along with offering a $300 sign-up bonus, the card does not charge an annual fee for the first year.
|Estimated Yearly Rewards Value ($15,900 spend)|
$95, waived first year
Additionally, cardholders will receive a monthly statement credit for a Postmates Unlimited membership through December 2019.
Capital One SavorOne Cash Rewards card details
The SavorOne card offers 3 percent cash back on dining and entertainment, as well as a $150 sign-up bonus after reaching the required spend threshold.
|Capital One® SavorOne℠ Cash Rewards Credit Card|
Why use it? If you want to earn bonus rewards on dining, entertainment and grocery store purchases, the SavorOne card is a great option. Additionally, those who plan to carry an account balance and/or transfer a balance from a different card can benefit from introductory APR on purchases and balance transfers.
|Estimated Yearly Rewards Value ($15,900 spend)|
Comparing Savor cards
Besides sharing similar names, the Savor and SavorOne cards offer almost identical rewards structures. See what else we found when comparing the two cards.
SavorOne card vs. Savor card
|SavorOne card||Savor card|
|Sign-up bonus||$150 when you spend $500 in the first 3 months||$300 when you spend $3,000 in the first 3 months|
|Annual fee||$0||$95, waived first year|
|Estimated yearly rewards value ($15,900 spend)||$306||$342|
As you can see, you stand to earn a higher rewards value with the Savor card – at least in the first few years – making it the obvious choice for those who want to get the most value from their rewards. However, for those who don’t want to spend a large amount of money up front, the SavorOne card may be a better fit.
Which card is best for you?
Ultimately, we think the best card for you depends on how you plan to use the card and what you want to get from the card. Here are a few things to consider:
You want to earn the highest value in the first year: Savor card
If you’re interested in earning the most cash back in the first year, the Savor card is your best bet. By our estimates, the average consumer who spends approximately $15,900 in the first year on gas, food, clothing and general purchases, can earn $586 worth of cash back – compared to only $406 with the SavorOne card.
You spend a large sum of money on dining and entertainment: Savor card
While both cards offer generous rewards rates on dining and entertainment purchases, the Savor card has the edge – by 1 percent to be exact. At first glance, this may not seem like a substantial difference. But for those who spend a large amount of money eating out each month, the cash back can add up.
For example, if you spend $1,000 per month eating out, you will earn $40 cash back with the Savor card and $35 cash back with the SavorOne card each month. With the Savor card’s $95 fee subtracted, this amounts to a $25 difference between the two cards by the end of the year.
Cash back earned on dining ($1,000 monthly spend)
|Savor card||SavorOne card|
|$1,000 monthly spend x 4% cash back x 12 months – $95 annual fee = $385||$1,000 monthly spend x 3% cash back x 12 months = $360|
You plan to carry a balance on your card: SavorOne card
If you want to purchase a big-ticket item and pay it off over time, or you just plan to carry a balance on your card (though we recommend that you pay off your balance in full each month), the SavorOne card is the better choice.
With the SavorOne card, you won’t be responsible for paying interest on purchases for the first 15 months of card membership. Once the introductory period ends, the variable APR on purchases will range from 16.24 to 26.24 percent.
The Savor card, by contrast, doesn’t offer an introductory APR on purchases.
You plan to transfer a balance: SavorOne card
If you have a substantial amount of credit card debt and are looking for a card that lets you transfer your balance without charging interest, the SavorOne card is the better choice. The SavorOne card offers an interest-free period of 15 months for balance transfers. After that, the variable APR is 16.24 to 26.24 percent.
The Savor card does not offer a 0-percent intro APR on balance transfers.
You don’t want to spend a large sum of money up front: SavorOne card
While the sign-up bonus for the SavorOne card is substantially lower than that of the SavorOne card, it requires a much lower spend threshold to receive it. The SavorOne card requires cardholders to spend $500 in the first three months to earn the $150 sign-up bonus – which averages out to approximately $167 per month for three months. The Savor card, on the other hand, requires $3,000 spend in the first three months – approximately $1,000 per month for three months – to receive the $300 bonus.
Also, keep in mind that after the first year, you will be responsible for paying a $95 annual fee with the Savor card.
The bottom line
If you want to earn the highest amount of cash back possible, the Savor card is a great option. Along with a substantial sign-up bonus, the card offers a generous rewards rate. Just be sure to apply in time to take advantage of the 8-percent bonus on Vivid Seats purchases and the Postmates Unlimited promotion. The SavorOne card, on the other hand, is a better fit if you don’t want to be responsible for paying a $95-annual fee after the first year.
See related: Capital One Savor card now offers 8 percent cash back at Vivid Seats, Capital One Savor cards compete with top grocery cards, Capital One announces partnership with James Beard Foundation