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When it comes to credit cards with a counterpart, one typically stands out with extra features such as a higher sign-up bonus and better perks, along with a higher annual fee. That’s generally the case for the Capital One® Savor® Cash Rewards Credit Card and the Capital One® SavorOne® Cash Rewards Credit Card, but the differences aren’t earth shattering. Which brings us to the question: Is the annual fee for the full Savor really worth it? Let’s compare.
When comparing the two cards side-by-side, the differences don’t appear to be striking, as shown on the table below:
|Benefit||Capital One Savor||Capital One SavorOne|
|Sign-up Bonus||$300 after spending $3,000 in the 3 months||$150 after spending $500 in 3 months|
|Earning Rates||8% on tickets booked through Vivid Seats
4% on entertainment and dining
2% at grocery stores
1% on all other spending
|3% on entertainment and dining
2% at grocery stores
1% on all other spending
|Additional Benefits||Access to premium dining and entertainment experiences
24/7 concierge service
Postmates Unlimited monthly membership (ends in December 2019)
|Access to premium dining and entertainment experiences
24/7 concierge service
|Annual Fee||$95 (waived the first year)||$0|
The sign-up bonus, earning rates and annual fee are the primary features that could affect your choice of which card to get, and making that decision depends on what’s most important to you in a credit card. Some folks who spend a lot on dining and entertainment will easily be able to make up the difference in annual fees, while others who don’t take advantage of those categories as often won’t need the extra cash back.
The Capital One Savor offers $300 in bonus cash back after spending $3,000 in the first three months, while the Capital One SavorOne offers $150 after spending $500 in the first three months. While $300 obviously sounds much better than $150, it’s not quite as great when you take a closer look, as you’re only getting an extra $150 for having to spend $2,500 more.
Granted, many people will easily be able to hit the $3,000 minimum spend in the first three months, but if that’s a concern for you, then you’ll want to lean toward the SavorOne. Also, if you’re looking to earn some quick cash, you’re likely to hit $500 in spending much faster than $3,000.
Capital One emphasizes the Savor‘s 4% cash back on dining and entertainment, and it’s honestly a generous bonus category — one of the best on the market for a cash-back card. However, it’s only 1% more than what the SavorOne earns, so it’s important to consider whether that extra 1% you earn with the Savor makes it worth its $95 annual fee.
To weigh the true cost of the Savor, you’ll have to spend $9,500 on dining and entertainment each year, or $792 a month. Again, many people will probably be able to reach this, but it won’t be the right choice for everyone. However, the good news is that the annual fee on the Savor is waived for the first year, so one option might be to get the Savor, try out the 4% cash back for a year at no fee and then see if it makes sense to keep it or downgrade to the SavorOne before the annual fee kicks in for the second year.
Neither card offers very lucrative benefits when compared to other more premium cards. However, you can get a monthly Postmates Unlimited membership with the Capital One Savor until December 2019. With this, you can avoid the $9.99 a month membership delivery fee on orders more than $15 and still earn the 4% cash back.
Another limited-time offer on only the Savor is the 8% cash back on tickets booked through Vivid Seats, through May 2020. While this perk is generous, it’s a bit more limiting and likely not a part of your everyday spend. Beyond that, the extra benefits for both cards are pretty standard.
Travel and purchase coverage
Both the Savor and the SavorOne come with fairly limited travel and purchase protections:
|Benefit||Capital One Savor||Capital One SavorOne
|Car Rental Coverage||Yes||Yes|
|Travel Assistance||Yes, if your card is lost or stolen you can get an emergency replacement and cash advance||Yes, if your card is lost or stolen you can get an emergency replacement and cash advance|
|Baggage Loss or Damage||No||No|
|Trip Cancellation / Interruption||No||No|
|Travel Accident Insurance||Yes||Yes|
|Emergency Evacuation & Transportation||No||No|
|Missed Event Ticket Protection||No||No|
The coverages are essentially identical, though you may have slightly higher limits on the no-annual-fee Savor card. But neither is going to get you the very best in travel protections that are available by using credit cards.
Which one should you get?
If you have excellent credit and can get approved for the Savor and can easily reach the $3,000 minimum spend, then get it so you can get the extra $150 and 4% cash back on dining and entertainment. Use your first year to determine if you spend enough and use the benefits enough to justify the annual fee — if not, downgrade to the SavorOne before the annual fee on the Savor kicks in. One the other hand, if you have average credit, then you’ll just want to start off with the SavorOne, as that’s who the card is geared for.
If you’re looking for a cash back card that has a generous dining and entertainment category then either the Capital One Savor or Capital One SavorOne might be a good card for you. With some of the most generous earning rates among cash back cards, either makes for a solid choice. Just make sure that if you choose the more expensive Savor card, you use the bonus categories and benefits enough to justify the annual fee.
Featured photo by The Points Guy staff.
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This cash back card has a focus on dining and entertainment where you can earn unlimited 4% cash back in those spending categories. You can also earn 2% cash back at grocery stores and 1% cash back on all other purchases.
- Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening
- Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.
- Receive a monthly statement credit for a Postmates Unlimited monthly membership through Dec. 2019 with the Capital One Savor Card
- 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
- No foreign transaction fees
- Capital One cardholders get access to premium experiences in dining, entertainment and more
- $0 intro annual fee for the first year, $95 after that