Capital One Savor Cash Rewards Credit Card Review
There's a new welcome offer on the Capital One Savor Cash Rewards credit card. And while the signup bonus itself doesn't come with an eye-popping return, this card may still be worth a look for those who are over 5/24. The Savor Cash Rewards card has a simple earning structure that allows cardmembers to collect 3% cash back on lucrative categories like dining and groceries. Best of all, it can be paired with a Capital One miles-earning card to convert that cash back into valuable Capital One Rewards. In our Capital One Savor Cash Rewards credit card review, we'll examine the current welcome offer, card perks and earning structure to determine our overall analysis of this card.
Savor Cash Rewards Current Welcome Offer & Annual Fee
The Capital One Savor Cash Rewards credit card currently has the following welcome offer:
- Earn $250 Cash Back after you spend $500 on purchases within 3 months from account opening.
- The card has an annual fee of $0.
Capital One Application Rules
This card is best to get once you are over Chase 5/24, since it really wouldn't be worth burning one of those valuable spots. Otherwise, here are the Capital One application rules you should be aware of if considering applying for the Capital One Savor Cash Rewards card. For more insight, see our guide to all banks' application rules.
Capital One typically only approves applicants for one card every six months.
This rule applies to both personal and business cards.
Be mindful of the 48-month rule.
You are ineligible for a welcome offer on a personal card that you received an offer on in the last 48 months.
Savor Cash Rewards Earning Rate
The Capital One Savor Cash Rewards credit card has the following earning structure, with no limits on or expirations for cash back earned:
- 3% unlimited cash back on the following categories:
- Grocery stores (excluding superstores like Walmart® and Target®)
- Dining
- Entertainment and popular streaming services
- 8% cash back on Capital One Entertainment purchases
- 5% unlimited cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- 1% cash back on all other purchases
Savor Cash Rewards Card Benefits
The Capital One Savor Cash Rewards credit card comes with the following benefits:
- No foreign transaction fees
- Extended warranty protections
Savor Cash Rewards Review: ToP Analysis
Capital One card names can admittedly be confusing, so we'll start with some background on this card. Formerly the SavorOne, this card was rebranded as the Capital One Savor Cash Rewards in 2024. That's not to be confused with the card that is currently named the SavorOne (this card's sister product, which has a similar earning structure but is designed for those with fair credit) or with the Capital One Savor Student Cash Rewards card.
Redemption Options
This is a cash back card, redeemable via PayPal, statement credits, gift cards and more. But you can also convert cash back into miles if you hold a Capital One miles-earning card. (Such as the Venture, Venture X, Venture Business or Venture X Business.) Miles convert at a 1:1 ratio. (So, 1 cent = 1 mile.) That makes the welcome offer potentially worth 25,000 Capital One miles. Those miles can be particularly valuable when using them to book travel through Capital One's roster of transfer partners. By redeeming via partners like Accor – ALL Rewards, Air Canada Aeroplan, Air France/KLM Flying Blue, Japan Airlines – JAL Mileage Bank and many more, you can easily get values well over 1 cents per point. Follow the steps in our guide to converting Capital One cash back to miles.
Earning Structure
The conversion capability makes the card's earning rate compelling for award travelers. You can earn an unlimited 3X on groceries, dining and entertainment services. You could nicely pair this card with one its 2X catchall miles-earners, like the Venture Business or Venture X. This could be particularly powerful for international travel, as well, since the card doesn't have foreign transaction fees. You can use it to earn 3X at restaurants and cafes abroad. To find similar earning rates on dining and groceries at other banks, you'd have to go with an annual-fee card like the Chase Sapphire Preferred (3X on dining and online groceries, with a $95 annual fee) or the American Express® Gold (4x on restaurants and groceries until a cap is reached, with a $325 annual fee).
Benefits
While this card doesn't have many other benefits to speak of, that's perhaps a good thing. This is a simple, straightforward no-annual fee card that doesn't require keeping track of coupons or credits. If you're over Chase 5/24, it's a nice option that could make for a well-rounded earning lineup from this bank.
Capital One Savor Cash Rewards Credit Card Review: ToP Thoughts
While the Capital One Savor Cash Rewards doesn't have as large of a welcome offer as some other popular Capital One cards, this card can be a hidden gem for some who are over 5/24. The 3% earning categories make it a compelling option to pair with another Capital One miles-earning card in your wallet. A straightforward no-annual fee card that doesn't require coupon tracking is always nice to have access to. What are your thoughts on the Capital One Savor Cash Rewards credit card? Tell us over in the ToP Facebook group.
