Capital One Savor Credit Card Review

Meet the Capital One Savor carda 3% cash benefits credit card with no annual fee that believes coffee shops and nightclubs . Cardholders score a bonus should they spend $500 of signing up within 3 months , together with 2% cash back at the grocery store, 1% money back on everything else — and they charge no interest for the 15 months.

Who this card is ideal for: Should you spend much more cash drinking and dining out than you do in the supermarket, and in the event that you won’t need to use your rewards for airlines.

Who should consider other cards: If you would like to redeem your rewards for traveling or whether you spend more money at supermarkets than you do eating and drinking out — or in the event that you’d prefer earning rewards at the gas pump.

Here are the Fundamentals:

Positives

  • 3 percent cash back dining with a lot of flexibility in types of sellers (fast food, bars, coffee, etc.)
  • Zero annual fee
  • $150 signup bonus if you spend $150 within the first 3 months of opening the account
  • 0% APR for first 15 months (including balance transfers)
  • Rewards don’t expire
  • Contactless payment
  • No overseas transaction fee

Negatives

  • High interest rate after introductory period (16.24percent -24.99% Variable APR)
  • Only 2% money back on grocery
  • Just 1 percent cash back on all other purchases
  • Can’t be redeemed for merchandise or airline travel — just check, statement credit, gift cards and charitable donations.

In more detail, let us dig in the Capital One card.

Easy-to-earn dining rewards

Savor considers many types of trades to be counted within the”dining table” category: from 5-star restaurants to a drink at the pub. These get back 3% cash. This card also does not enforce any minimum payoff requirements or restrict your rewards once you spend a specific amount.

Cash back rewards are limitless, and they can be redeemed for any amount at any time in the shape of check a statement credit, gift card or charitable donation. There is also convenient automated redemption options, like yearly (or when you hit a particular threshold, like $50, as an instance ).

One drawback is that supermarket buys just get you 2% cash back, and everything is just 1 percent — additional cards out there do far better in those categories, from 4%-6% (but won’t normally arrive with 0% introductory APR or 3% cash back on as numerous dining choices as the Savor card).

Another downside is that Savor rewards can’t be redeemed for merchandise or airline journey.

An simple sign-up bonus

In comparison to a lot of airline miles rewards cards, it is very easy to receive your (somewhat small) $150 bonus — all you need to do is invest at least $500 in 3 months. That is easy, as it is just $166.67 per month, and in addition, it gets automatically credited to your statement as soon as you achieve that minimum.

With travel rewards cards that ask their cardholders prior to getting your miles bonus, to stand up $ 1,000 to $ 3,000 in charges, the Savor card has a rather easy-to-achieve brink .

Low introductory APR — followed closely with a high standard APR after 15 months

This applies to all purchases and balance transfers, however, the variable APR following the initial 15 months (16.24%-24.99percent ) is on the higher end of the spectrum.

Other perks

Contactless”faucet” payments are enabled, no transaction fee, and benefits don’t expire.

This card also comes with car insurance, roadside assistance, ID theft services, emergency card solutions, free concierge service, cost protection and an extended warranty.

But wait a moment — even if you eat out or order food in often, there might be better choices that match your lifestyle a little bit better (and stretch your rewards farther ). Check the other options out below and determine which one would be the most acceptable for you, personally.

You also might consider:

If you shop at Costco a great deal:

Think about the Citi Costco Anywhere Visa Card

This card, which requires an annual Costco membership (roughly $60 per year), also enables its customers to earn 3% cash back on dining — but coffee shops and bakeries aren’t included. The $60 per year membership cost can essentially be regarded as an yearly fee, but you get the privilege of being able to store at Costco places in bulk. This card has no introductory APR but has you 4% cash back on gas to get the first $7,000 per year. Incidentally, the Savor card is a Mastercard, that isn’t accepted at Costco (something to think about).

If you really do more grocery shopping than just dining out:

Think about the American Express Blue Cash Preferred Card

From supermarkets in the United States, you get a whopping cash back with this credit card , so if you are a food preparer. That only lasts for the first $6,000 in purchases for the year it drops down to just 1 percent. It also offers 3% cash back in US department stores and US gas stations with 1% cash back on other purchases. Cash back is given in increments of $25 as a statement credit, as you reach these thresholds.

The normal purchase APR is similar (14.74percent -25.74%), however, the bonus deal is not quite as great: a $200 invoice credit after you invest $1,000 in the first three months. There is also a $95 fee.

Should you use Uber apps

Check out the Uber Visa Card

Gets you cash back on dining cash back on hotel and airfare, 2 percent on purchases and 1% back on everything else. The Uber card cash back offer will be $100 money back (or 10,000 bonus points) after you spend $500 in 90 days (slightly worse than the Savor card program).

For those who invest at least $ 5,000 each year but, together with the Uber card, you can nab a $50 charge. There is, nevertheless a $500 per day limit of spending which can get you things. Oh, and there is no balance transfer period.

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