Posted by Chuck on August 14, 2018
Credit Cards

Published on August 14th, 2018 | by Chuck

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[New Card] Capital One Savor and SavorOne Card Review, $500 Signup Bonus and 4% Dining & Entertainment Category

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

Direct Link to offer

The Savor card comes with the following signup bonus:

  • Get $500 when you spend $3,000 within three months from account opening.

Card earns the following rewards rates with no earnings limit, no minimum redemption, and no rewards expiration:

  • 4% cashback on dining and entertainment
  • 2% cashback on groceries
  • 1% cashback everywhere else

Card Details:

  • $95 annual fee, 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

Direct Link to offer

The SavorOne card comes with the following signup bonus:

  • Get $150 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 and entertainment
  • 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.



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sounds great.
but applying at Capital One seems like a waste of time.
they refuse to issue me a card.
18/24.

My experience with Capital One is that they will only approve you if you have an outstanding balance on at least one credit card. This includes any promotional 0% balance transfer type cards.

?/24?

This is a good theory. Can someone who has been approved (if anyone ? 🙂 ?) please confirm that you have outstanding balance on cards? I’m assuming this means you are paying interest.

-1 simply not true.

That’s not true. I’ve never carried a balance and got another card from them a few months ago. The problem with them is that they hit all 3 bureaus and that’s annoying.

Its because it is a waste of time my Fico is between 820 and 830 and I have had previous accounts in good standing with Cap1 and I was declined.
Complete waste of time and added inquiry.

Yep, same with me. Waste of time and added inquiry. 838 FICO.

Chuck , I’m seeing that the annual fee is $95, not $59…

Where did you hear previous savor customers are grandfathered in?
I’m a current savor customer… that sounds amazing! 4% and no AF?! I’ll take it.

Capital One has some kind of 5/24-like rule that they don’t publicize which will block most churners from being approved. It’s not worth the hard pulls from all three credit bureaus just to be denied…

I’ve literally never been approved for a Capital One card in my life.

Last denial listed:

Too few revolving accounts with balance, too many new revolving accounts, income is insufficient for requested credit

If anyone manages to make this application work, let me know.

I applied with an existing 10 y/o capital one venture account at a zero balance and more than 5/24. Was auto approved for 30k.

Are you sure that it’s exactly 5/24? I’m at 5/24 now so no Chase but I would really want this. I have never had Capiial One card before.

No, I said “5/24-like rule.” Nobody’s been able to nail Capital One down on exactly what their approval criteria is, and they won’t tell us – all we know is that they reject a *ton* of people with 800+ FICO scores, so they’ve clearly established some kind of hard auto-reject formula, likely based on a high number of recent inquiries. We just aren’t sure what their timeframe of recent is, or their definition of too many inquiries, or if they’re willing to let those rules slide if you have an established banking relationship with them. There’s just a lot of unknowns.

If you’re not bothered by three hard-pulls on your credit report, then go ahead and try; the bonus here is certainly valuable. Just be prepared for a possible denial.

I got the Venture card back in December 2017 after being 8/12 and 3/6 with a 730ish Fico. They also only pulled TU and EX (not the normal triple pull). It’s definitely a bit of an aberration from all of the other data points I’ve seen—especially at the time.

As with everything I guess, YMMV. But I do advise against applying for most with recent inquiry/new account activity. It seems their UW becomes more strict when the SUB increases and the AF is waived.

Forgot to mention, I had no prior relationship. Aggregate utilization was 8% (of $100K) or so, as I let some balances report that month. Average Account Age – 7 years.

At the time though, there was a huge thread elsewhere with a string of denials for people with impeccable credit. Josh makes a very good point. I’d say they want a moderately thick profile with a balance reporting on a card in the 1%-9% range and few account closures, if you’re like me and have some recent inquires/new accounts. Purely speculative, of course.

810-820 declined

Eliminate these.
I had 2 cards with them never late and a paid off car loan.
Maybe 2 inquirees in the last 6 months and my Fico is between 820-830.
Never get turned down for anything but they declined me.
Only 2 accounts opened this year.

I was approved for the VentureOne back in Feb at 14/24. ~700 credit score

Annual fee is $95 not $59

What counts as entertainment? Movies and sporting events ?

It’s there within official page on the bottom! “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.”

They give 4% back on reading all the denial reports in this thread, I’m told 😛

Yes.

Gosh I would love this card for the signup bonus and cash back categories but I’m almost confident I would be denied at lol/24. Ive tried 3 or 4x for the venture card over the years and no dice.

Applied for Capital One but got rejected. Perfect score. Under 5/24. Ouch this hurts!

Denied. Credit score is 820.

2018 has been a tough year for churning.

We all have high credit scores, can you tell us other details. ?/6/12/24? Amount of CL compared to Income?

I can never get my score above 774 or 764 even though I pay off my bills every month and have never been late on a payment. Could it be longevity of my credit cards? No mortgage?

DD the highest score only with Credit cards as I know is 785. You must get a loan or mortgage to boost it up.

I’ve been stuck on 798 without loan or mortgage payment history.

I have like a 780 and never been denied a card. credit card companies are always sending me cards also… and I have the Savor card already so I guess I get grandfathered in.. Could they make us pay the $95 after a few years?

I haven’t had a mortgage since 2001 or a car loan since 2006, but my score is in the low 800s.

I have a mortgage and 20 plus years on cards.
820 to 830 Fico, had a previous great relationship with them.
Denied.
2 inquirees only and more then enough income.

Carlos, ??/12 ??/24 cards approved? thanks!

Some people trying to boost their credit score by getting a mix of credit types use a small ‘share-secured loan’ from a credit union (you leave the amount of money they’re ‘lending’ you in the ‘base share’ savings account). That’s already plenty high to get approved for stuff based on score alone, but if you want to try to get it even higher, something to consider.

They are not ethical. Worst customer service. Changed my card which I was not authorize and eventually I had to close my card. And customer service lie!!! I am done with them.

Applied and denied. I’m at lol/24 (somewhere over 20 approvals, not quite sure though). Didn’t expect an approval, but alas, $500 was a little too tempting.

Same, couldn’t resist. Been on a good streak, so push it till someone says no. Instant no.

lol/24, FICO high 700s, new loan and multiple CCs in past 1 month (refi etc), balances carried (0%, but they don’t know), already a holder of a capital one CC.

Join the discussion…
I’ve had their Capital One Quicksilver for about 2 years. I used it regularly and it’s set on autopay full balance.
What are the chance I could get approve for this one?
If I get approve can I close it before paying the annual fee next year?

Your chances should be good considering your existing relationship with Capital One. FWIW, you can combine the cash that you earn on the Savor card with the cash that you earn on your Quicksilver.

My application is under review. Nearly 2 years since I last opened a credit card.

thanks for the post – i am benefiting from the “Grandfathered” perk – great news all around 🙂 Glad i did a product switch when this first launched.

What did you PC from? I wonder if I could switch from QuickSilver 1.5% card.

I switched from Quicksilver a couple months back. Looks like that will be beneficial

I PC’d from an ancient C1 Platinum card. They didn’t allow changes until March (after card had been out awhile).

did you receive a communication from them? does it reflect in your account? i’ve not received any info from cap1 and my account rewards section still says 3% dining

Just applied and got approved. I’ve successfully applied for two personal and one business this year,

what’s you ??/12 and ??/24 thanks!

Proctologist Of Credit
Proctologist Of Credit

Nice!

If anyone actually manages to get approved, I wonder if they’d allow you to PC from the Savor to the SavorOne after the first year to avoid the AF.

I did this with a Venture when my annual fee posted for year 2. I called and they were able to refund and PC to a Quicksilver.

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