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.
The Capital One Savor cards are getting an exciting makeover. Beginning May 18, 2021, Capital One Savor Cash Rewards Credit Card* holders will earn 4% cash back on eligible streaming services, including Hulu, Disney+ and Netflix, and earn 3% cash back at grocery stores – up from 2% cash back the card has previously offered. Additionally, you can get a $300 sign-up bonus when you spend $3,000 in the first three months of card membership.
The Capital One SavorOne Cash Rewards Credit Card is getting an exciting upgrade too. The card will now offer 3% cash back on dining, entertainment, eligible streaming services and at grocery stores, along with 1% cash back on all other purchases. You can also earn a $200 bonus after $500 spend in the first three months.
Plus, both cards are currently running a limited-time promotion that gives cardholders 8% cash back at Vivid Seats through January 2023.
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|
|Sign-up bonus||Annual Fee|
Why use it? If you eat out frequently and want to earn a generous rewards rate for doing so, this card is ideal.
Capital One SavorOne Cash Rewards card details
The SavorOne card now offers 3% cash back on groceries, dining and entertainment, as well as a $200 sign-up bonus after reaching the required spend threshold.
|Capital One SavorOne Cash Rewards Credit Card|
|Sign-up bonus||Annual fee|
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 can benefit from an introductory APR on purchases.
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
|Capital One SavorOne Cash Rewards Credit Card||Capital One® Savor® Cash Rewards Credit Card|
|Sign-up bonus||$200 when you spend $500 in the first 3 months||$300 when you spend $3,000 in the first 3 months|
|Estimated yearly rewards value ($15,900 spend)||$359||$378|
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 upfront, 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 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% 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)
|Capital One® Savor® Cash Rewards Credit Card||Capital One SavorOne Cash Rewards Credit 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 15.49% to 25.49%.
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 15.49% to 25.49%.
The Savor card does not offer a 0% intro APR on balance transfers.
You don’t want to spend a large sum of money upfront: 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 $200 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 you will be responsible for paying a $95 annual fee with the Savor card. Previously, the fee was waived in the first year, but that changed in 2020.
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% bonus on Vivid Seats purchases. 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.
*All information about the Capital One Savor Cash Rewards Credit Card has been collected independently by CreditCards.com and has not been reviewed by the issuer. Capital One Savor Credit Card is no longer available through CreditCards.com.