Capital One Savor card review: A $250 bonus and extra cash back in popular categories

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New cardholders can earn a $250 cash bonus after spending $500 on purchases within the first three months from account opening.

Earning

This card earns cash back at the following rates:

• 8% back on Capital One Entertainment purchases
• 5% back on hotels and rental cars booked through Capital One Travel
• 3% back on dining and entertainment
• 3% back on eligible streaming services
• 3% back at grocery stores (excluding superstores like Walmart® and Target®)
• 1% back on all other purchases

Redeeming

You can redeem Capital One cash back rewards for a statement credit, cash, gift cards or directly through Amazon or PayPal. You can also redeem your cash rewards through Capital One Travel or Capital One Entertainment, but the value is always the same regardless of how you choose to use your rewards.

If you also hold a miles-earning Capital One card, like the Capital One Venture Rewards Credit Card or the Capital One Venture X Rewards Credit Card, you can easily convert your cash back rewards into transferrable miles to potentially get greater value.

The *Capital One Savor Cash Rewards Credit Card has no annual fee. The APR for purchases and balance transfers is a variable 19.74% – 29.74% based on your credit history. If there is a promotional APR offer, the balance transfer fee is 3% of the amount you transfer. But if you’re transferring at the standard APR, then you don’t pay a balance transfer fee.

There are no foreign transaction fees, making this card useful when traveling overseas.

The Discover it Secured Credit Card is a great alternative if you have a lower credit score but still want to earn rewards.

As a secured card, you need to put down a minimum deposit of $200, which acts as your credit line. As you spend on the card, you’ll earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, and 1% on all other purchases. On top of that, Discover will match all the cash back you earn in your first year with no limit.

While the Savor Card may be more rewarding in the long run, the Discover it Secured is a good option for those building up their credit score. At seven months from account opening, Discover will automatically review your credit card account to see if they can transition you to an unsecured line of credit and return your deposit.

Learn more: Discover it Secured Credit Card

Capital One Savor Card vs. Chase Freedom Unlimited®

The Chase Freedom Unlimited® is another strong rewards card with no annual fee.

New cardholders earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back. So, you will earn 6.5% cash back on travel purchased through Chase Travel℠, 4.5% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service), and 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

If you need an interest-free period, you will have 0% intro APR for the first 15 months on new purchases and balance transfers; 19.99% – 28.74% variable APR thereafter. There’s an intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, it’s either $5 or 5% of the amount of each transfer, whichever is greater.

Other perks include purchase protection, extended warranty protection, rental car collision damage waiver (secondary coverage), roadside assistance and more.

Learn more: Chase Freedom Unlimited® Card

If you want to have your credit card and bank accounts within the same ecosystem, Capital One has you covered with checking and high-yield savings account options and hundreds of physical branches nationwide.

The Capital One 360 Checking Account offers a competitive 0.10% APY on all balances, which is higher than the national average, and you’ll get access to over 70,000 Capital One, MoneyPass® and Allpoint® ATMs without fees.

When it comes to your savings, consider the Capital One 360 Performance Savings™ account. It offers a high APY that rivals the returns you can get with online banks, no monthly fees and no minimum requirements.

The Capital One Savor card is a cash-back earning powerhouse. It’s a nearly perfect card for a night out or a night in since you’ll earn bonus cash back on dining and entertainment, as well as groceries and streaming services. However, it offers fewer ancillary benefits than some other cards, and the rewards aren’t as valuable as what you can earn with a travel credit card.

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*For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

For rates and fees of the Discover it Secured Credit Card, click here.