Capital One Savor vs. SavorOne: It Depends on Your Spending
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The Capital One Savor Cash Rewards Credit Card and the Capital One SavorOne Cash Rewards Credit Card are both solid cards that offer stellar rewards on dining, entertainment, streaming, and purchases at grocery stores. The main difference between the two is that the Capital One Savor Cash Rewards Credit Card charges an annual fee of $95, but it also offers a larger sign-up bonus and a higher rewards rate in some categories.
Whether or not it makes sense to pay that annual fee comes down to how much you spend on dining, entertainment and streaming. If you spend more than $9,500 a year total among those categories, then the Capital One Savor Cash Rewards Credit Card is a better fit for you despite the cost.
If you spend less, as many people do, then the Capital One SavorOne Cash Rewards Credit Card makes more sense.
Here’s how to decide which is right for you.
At a glance
Capital One Savor Cash Rewards Credit Card | Capital One SavorOne Cash Rewards Credit Card | |
|---|---|---|
Annual fee | $95. | $0. |
Sign-up bonus | Earn a one-time $300 cash bonus after you spend $3,000 on purchases within the first 3 months from account opening. | Earn a one-time $200 cash bonus after you spend $1,000 on purchases within the first 3 months from account opening. |
Cash-back rewards |
|
|
APR | The ongoing APR is 15.99% - 23.99% Variable APR. | 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 19.74%-29.74% Variable APR; 3% fee on the amounts transferred within the first 15 months. |
Foreign transaction fee | None. | None. |
Who might prefer the Capital One Savor Cash Rewards Credit Card
People who spend a lot on dining, entertainment and streaming — more than $9,500 to be exact — will come out ahead with the Capital One Savor Cash Rewards Credit Card, even after paying the annual fee.
Here's how that works:
3% cash back rate of the Capital One SavorOne Cash Rewards Credit Card x $9,500 spent = $285 cash back.
4% cash back rate of the Capital One Savor Cash Rewards Credit Card x $9,500 spent = $380 cash back.
$380 cash back - $285 back = $95 (the same as the cost of the annual fee).
The Capital One Savor Cash Rewards Credit Card also offers a larger sign-up bonus than the Capital One SavorOne Cash Rewards Credit Card (though it has a higher spending requirement, too): A one-time $300 cash bonus after you spend $3,000 on purchases within the first 3 months from account opening.
If you will easily spend enough to earn that bonus, then you’ll also benefit from the Capital One Savor Cash Rewards Credit Card.
Why the Capital One SavorOne Cash Rewards Credit Card is better for most people
On the other hand, if spending nearly $10,000 a year in those categories seems exorbitant — and for many people, it will be — then the Capital One SavorOne Cash Rewards Credit Card is the better fit, as it offers big rewards in popular general categories for an annual fee of $0.
Cardholders earn 3% back on dining, eligible streaming services, grocery stores and entertainment, and 1% cash back on all other purchases.
Again, those are rich rates for a no-fee card, and they cover a wide swath of popular spending.
The Capital One SavorOne Cash Rewards Credit Card also comes with a bonus offer: Earn a one-time $200 cash bonus after you spend $1,000 on purchases within the first 3 months from account opening.
It's not as rich as the offer on the Savor, but unlike that more expensive card, the SavorOne offers an intro APR period.
If you have a Capital One travel rewards card, you can fund a vacation that much sooner by transferring the cash rewards you earn from the Capital One Savor Cash Rewards Credit Card or Capital One SavorOne Cash Rewards Credit Card to your eligible Capital One travel card account. (Note, you can't transfer miles to a cash rewards account.)
Which card should you get?
For most people, the Capital One SavorOne Cash Rewards Credit Card will be the better choice. According to the Bureau of Labor Statistics, the average spending on dining and entertainment was $5,287 in 2020. Even if you added on multiple streaming services, that leaves the average person far below the $9,500 break-even point needed for the Capital One Savor Cash Rewards Credit Card to make sense. Of course, 2020 wasn’t a normal year and the pandemic suppressed spending in both dining and in-person entertainment, but even in a more typical year, most people spend less than $9,500 in those categories.
So unless you are a big spender and know that you will reach or surpass $9,500 spent, the Capital One SavorOne Cash Rewards Credit Card makes more sense. You enjoy a high rewards rate with no fee, plus a bonus offer.
Information about the Capital One Savor Cash Rewards Credit Card has been collected by NerdWallet and has not been provided or reviewed by the issuer of this card.
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