Capital One Savor Cash Rewards Credit Card review: A versatile card for everyday rewards

I also considered the Blue Cash Preferred® Card from American Express, which has double the cash back rate on U.S. supermarket purchases (6 percent back on your first $6,000 in annual spending). 

But that card carries a $95 annual fee. When I did the math, I found that this meant that even with a high grocery spend, the Savor could offer more total value than the Blue Cash Preferred if I spent modestly on dining, entertainment and streaming. Even if I spent $6,000 at U.S. supermarkets to maximize the Blue Cash Preferred’s 6 percent rate cap (way more than I normally would), just a couple hundred dollars in monthly spending on dining, entertainment, streaming or travel would put the Savor on top in net value.

The Savor card’s entertainment category can also be surprisingly rewarding if you spend a decent amount on purchases like tickets to movies and sporting events. I earn over $10 cash back each year just from paying for my monthly film society membership with the card. That’s not earth-shattering or anything, but it all adds up.

The card can also pair well with other Capital One cards. I didn’t have any others when I applied, but I’ve since added the Capital One Venture X Rewards Credit Card to my wallet and have found that the Savor card can be a big help when I’m trying to earn rewards for a trip. I don’t have to redeem Savor rewards as cash back. I can also move rewards from the Savor to a Capital One travel card at a 1:1 ratio. 

Considering how many categories this card covers without charging an annual fee (See Rates & Fees), it could help you build a surprisingly powerful travel rewards credit card stack.

Of course, if you were really strategic and juggled multiple cards to get more than 3 percent back in each of the Savor card’s categories, you could definitely wring out more rewards value. It’s just a question of how much effort you want to put into earning those rewards.

The Capital One Venture Rewards credit card has a $95 annual fee (See Rates & Fees) but its 2X flat rewards rate can pick up extra travel miles on purchases the Savor card’s boosted cash back categories don’t cover. If you travel regularly and make frequent purchases outside the Savor card’s best categories, the Venture Rewards card can help you accrue miles for travel redemptions through the Capital One Travel portal.

Like the Savor, you can earn elevated cash back in certain categories with the Bank of America Customized Cash Rewards card. But unlike the Savor card, you can choose from a wider variety of categories to earn the highest cash back rate each month. As a tradeoff, the Bank of America Customized Cash caps its higher-earning categories to a combined $2,500 in purchases each quarter before the rate drops to 1 percent.

If you don’t want spending caps or spend a lot on entertainment, pick the Capital One Savor. But if you need flexibility with your highest-earning category, the Bank of America Customized Cash is your best bet between the two.

The Chase Freedom Unlimited card earns the same rate as the Savor in dining but includes drug store purchases instead of Savor’s cash back for eligible streaming subscriptions, entertainment and grocery purchases. Plus, it has a better flat cash back rate on general purchases.

If you have several streaming subscriptions and attend a lot of concerts and other entertainment events, the Savor is a social butterfly’s dream. But if you can't take advantage of these categories, the Freedom Unlimited is a better option.

I got this card mainly for its grocery and dining rewards rates, but when I read the fine print I was surprised to see just how many purchases would qualify for rewards as part of the entertainment bonus category. All of the following types of purchases are eligible for boosted cash back: 

• Movie theater tickets 
• Record store  
• Tourist attractions 
• Amusement parks 
• Aquariums 
• Zoos 
• Dance halls
• Billiard and pool establishments 
• Bowling alleys
• Commercial sports promoters
• Theatrical promoters

Remember that whether a specific location is eligible for cash back depends on the merchant category codes used to process your payment. If you’re unsure, you can call the merchant in advance or review your statement.  

Capital One doesn’t offer a full list of eligible streaming services, but it does list the following services as ineligible for rewards:

• Amazon Prime Video
• AT&T TV 
• Verizon FIOS On Demand
• Audiobook subscription services 
• Fitness programming

The Savor is a Mastercard, so it should be accepted almost anywhere credit cards are accepted. As a Mastercard, the Savor also comes with Mastercard benefits like extended warranty**.


**Automatically extends the original manufacturer's warranty on eligible purchases made with this card

The Savor earns cash back at most major grocery stores, but it won’t earn more than 1 percent back at superstores (like Walmart or Target) or wholesale clubs (like Costco, Sam’s Club or BJ’s).

The primary criteria for a rewards or cash back card’s rating is its rewards value. This includes the card’s average rewards rate, estimated annual rewards earnings, sign-up bonus value and reward redemption value.

To estimate a card’s average annual rewards earnings, we first calculate its average rewards rate based on how much it earns in different bonus categories and how closely its categories align with the average person’s spending habits, according to data from the Bureau of Labor Statistics.

Based on this data, we determine a “chargeable” spend (which purchases are likely to be put on a credit card and earn rewards). This includes the following spending by category:

• Groceries: $5,200
• Dining out: $3,000
• Entertainment: $2,500
• Gas: $2,100
• Apparel and services: $1,700

Using this data, we assign a weighting to each of a card’s bonus categories. For example, a card’s grocery rewards rate receives a 23 percent weighting based on how much of the average person’s budget is spent on groceries. We also estimate the redemption value of points or miles from various issuer, airline and hotel rewards programs.

This weighting and rewards valuation allows us to estimate a card’s average annual rewards earnings — how many points or miles you’d earn with a given card if your spending was about average and you used the card for all of your purchases, as well as what those points are worth. We also use point valuations to determine a card’s sign-up bonus value

With these calculations complete, we assign each card a score based on how its average rewards earnings, sign-up bonus value, rewards rate and redemption value stack up against other rewards cards.

We also rate cards based on how much it costs to keep them in your wallet or carry a balance.

To start, each rewards or cash back card is scored based on whether it offers an intro APR and how its ongoing APR compares to the rates available on other rewards or cash back cards.

We also score each card based on how its annual fee influences its overall value.

We consider a card’s annual fee in two ways — how it ranks relative to the fees you’ll find on other cards in the category and how it impacts a card’s overall rewards value. Cards with an annual fee will always be at a slight disadvantage in our scoring system since annual fees inherently cut into your rewards value, but if a card offers terrific value via its ongoing rewards and perks, it can earn a high score even if it carries a high annual fee.

With this in mind, we rate a card based primarily on how its ongoing rewards value and ongoing perk value (such as annual credits or bonuses) stack up against other cards in the category when you subtract its annual fee.

We rate each card’s flexibility based on the restrictions it imposes on earning and redeeming rewards and factor this rating into a card’s overall score.

Flexibility factors include whether a card only allows you to earn a high rewards rate on a small amount of spending or requires you to meet a certain earning threshold before you can redeem rewards. We also examine whether your points are worth less when you redeem for some options versus others and whether a card gives you the flexibility to transfer rewards to airline and hotel partners.

We also score each card’s set of features – its perks and benefits — against five tiers of features to provide a rating. We break down these tiers as follows:

• Tier 1 has less-than-standard card features (an ultra-streamlined card that offers basic utility and next to nothing in the way of ancillary benefits.
• Tier 2 includes the benefits you’d expect on standard Visa or Mastercard credit cards, such as free access to your credit score, car rental insurance and $0 fraud liability for unauthorized charges.
• Tier 3 includes “prime card” or better-than-average card features like cellphone insurance, lost luggage insurance, concierge services and purchase protection.
• Tier 4 includes luxury features such as airport lounge access, elite status with an airline or hotel and credits for expedited security screening membership programs.
• Tier 5 includes the sort of exemplary benefits you’ll find on top-tier luxury cards, such as high-value travel credits, cardholder memberships and other unique and valuable perks.