Update 10/20/20: SavorOne signup bonus increased to $200.
Update 5/7/20: Signup bonus on Savor is $300, currently. Annual fee still not waived for the first year.
Update 7/9/19: They no longer waive the $95 annual fee first year on the Savor One card. There is an increased offer showing for $400 for some people (I see it in my regular browser; incognito shows $300 for me, fee not waived either), so it’s basically a wash with the extra $100 and extra $95 fee. (ht SMan) Updated below.
[Update 5/22/19: Signup bonus reduced from $500 to $300.]
Capital One launched the Savor card in October, and today the bank announced an enhancement of the Savor card with 4% on dining & entertainment and a $500 signup bonus. They also announced a brand new no-fee SavorOne credit card.
Capital One Savor
The Savor card comes with the following signup bonus:
- Get $300 when you spend $3,000 within three months from account opening.
- They’ve also added a new benefit for 2019 to get reimbursed a $9.99 monthly Postmates Unlimited subscription cost.
Card earns the following rewards rates with no earnings limit, no minimum redemption, and no rewards expiration:
- 4% cashback on dining, entertainment, and popular streaming services
- 3% cashback on groceries
- 1% cashback everywhere else
- They’ve added a benefit to get 8% cash back at Vivid Seats
Card Details:
- $95 annual fee (not waived the first year)
- No foreign transaction fees, like all other Capital One cards
- Access to premium experiences in dining, entertainment and more
Capital One SavorOne
The SavorOne card comes with the following signup bonus:
- Get
$150$200 when you spend $500 within three months from account opening.
Card earns the following rewards rates with no earnings limit, no minimum redemption, and no rewards expiration:
- 3% cashback on dining, entertainment, popular streaming services
- 2% cashback on groceries
- 1% cashback everywhere else
Card Details:
- No annual fee
- No foreign transaction fees, like all other Capital One cards
The Fine Print
What counts as dining? Purchases at restaurants, cafes, bars, lounges, fast-food chains and bakeries.
What counts as entertainment? Buying tickets to a movie, play, concert, sporting event, tourist attraction, theme park, aquarium, zoo, dance club, pool hall or bowling alley. Also, making purchases at record store and video rental locations. This excludes non-industry entertainment merchant codes like cable, digital streaming, and subscription services.
Our Verdict
Basically, you get 4% instead on dining and entertainment for the $95 annual fee instead of 3% with the no-fee card. You’ll have to spend $9,500 per year to justify that cost on a purely rewards-basis analysis.
The $500 cash signup bonus on the Savor is sweet! And 4% cashback on dining and entertainment is good, though if you have a premium card like the Chase Sapphire Reserve you can end up with better value there with their 3x earnings on dining (depending how you redeem those points). If not, it could make sense for someone who spends heavily on dining and entertainment. The Barclay Uber card also offers 4% on dining.
Check out these Things to Know about Capital One Credit Cards before applying. People often get denied by Capital One for various reasons; maybe we’ll get lucky and they’ll go easy on Savor applications.
As per our communication with the bank, existing Savor cardholders will get upgraded to the 4% dining and entertainment rate, and they’ll be grandfathered in with no annual fee (the bank is considering the Savor card as part of the existing line with an upgrade, and the SavorOne is the new product). Capital One has sent out a mailer to cardholders with this information as well.
We’ll also add the Savor to our list of Best Current Credit Card Signup Bonuses, list of Best Cash Credit Card Signup Bonuses, and list of Best Credit Cards For Restaurant Spend.
Has anyone managed to churn this or any Cap 1 card in less than the qualification interval? I closed a Quiksilver card less than a year ago, and they’re sending me a nice little targeted offer I am very tempted to test, though the fine print puts the interval at 48 months.
I’ve had this card for 3 years and love it. No annual fee so no fuss. No foreign transaction fee makes it great for dining where my Amex Gold is not accepted overseas. Also use it as my secondary grocery card after Amex BCP. I’ve gotten the 3% back on entertainment at places like movie theatre, museums, gyms, etc.
I plan to close those 2 Amex cards since they have hefty annual fees and I don’t put Amex MR into great use.
The current public SUB is $200 back after $1000 in spend. HMU if you want a referral that brings it to $200 after $500 spend. As a student, I can really use the extra referral money.
Anyone know when the current offer expires? I can’t find a date anywhere and this page hasn’t been updated. Insight appreciated!
Be careful when applying for these cards (or at least the SavorOne) that you don’t get bait-and-switched. I applied for the SavorOne for excellent credit with the $200 bonus offer. I was approved for the card, but it was apparently for a version without the bonus offer.
I didn’t find this out until after the fact, and the approval screen contained no obvious sign that a bait-and-switch had occurred. Pretty odd, as my credit score is well in the “excellent” range and I had existing accounts with Capital One. But overall, would highly recommend caution or staying away from Capital One entirely.
this card is 3% on groceries now. also 5% on travel if you use the capital one travel portal
Updated thanks
Denied for SavorOne: Time since most recent account opening is too short, proportion of balances to credit limits on bank/national revolving or other revolving accounts is too high, Lack of recent installment loan information, Too many inquiries last 12 months, Number of inquiries on credit report
Experian was frozen, so most recent account was reported 42 days earlier/opened 75 days earlier, highest credit utilization rate was on CSP at 52% but most others at a very low amount, don’t have any loans (yay?), 3 Equifax and 3 TransUnion inquiries in the past year
Credit Score of 773 on TransUnion, have been an authorized user on some C1 cards in the past but those have closed.
Slickdeals posted a link to a $200 bonus, no annual fee, $500 spend in 90 days required. Not as big as some past bonuses, but if you don’t spend a lot on credit cards, the $500 spend in 90 days is reasonable.
The link below is from the slickdeals site; I couldn’t find a link without the ‘marketingChannel’ (in the URL)
https://applynow.capitalone.com/?irgwc=1&external_id=IRAFF_ZZ7561ce79cd714920a6adb8b9424e4d1a_USCIR_K10451_A344893L_Cb63422d5Nac3b11eb8770061ec55953b_S_P9-1-1&transid=&marketingChannel=P23235&productId=12370&IARC=AFF
Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
Earn unlimited 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
No rotating categories or sign-ups needed to earn cash rewards; plus cash back won’t expire for the life of the account and there’s no limit to how much you can earn
0% intro APR on purchases for 15 months; 15.49% – 25.49% variable APR after that
No foreign transaction fee
No annual fee
I opened a Savor One card, with the offer of $200 bonus after $500 spend, with no annual fee.
Successful DPs:
01/31/21 – successful application
02/11/21 – met minimum spend
02/12/21 – $200 bonus posted as pending
03/09/21 – Bonus available to convert to cash (or applied to CC balance), along with cash back on purchases, redeemed $215
In year 2 of membership (opened with annual fee waived in first year), called, spoke with 1st line CS who said no way to waive fee once posted to account, even downgrading. Asked for escalation, manager said essentially the same and that cancellation within 40 days of annual fee posting is the only way to get it credited back.
The annual fee posted about 1 month after the card anniversary, so cancel/downgrade during this time to avoid this lameness.
Oh, also, the cashback redemptions are limited to statement credit, wiping out purchases, gift card redemption, or as Amazon points for cash, so nothing as true “cash”.
Capital One will not wave year #2 annual fee. Told me how lucky I was to have all the benefits of the Savor Card!