After six months of having the Capital One Savor Credit Card, it’s time to give my thoughts. There are many things I love, some things I like, and a few things I dislike. I’ll cover everything about the credit card in order to help you decide if it’s the right card for you!
Capital One Savor Credit Card: Perks
The ultimate reason I decided to apply for the Capital One Savor Credit Card was because of the 4% cash back on dining and entertainment. This card boasts one of the best (if not the best) dining and entertainment perks. In addition, I was lucky enough to sign up during a promotion period in which I received a $500 statement credit for spending $3,000 in the first 3 months of having the card. I had large upcoming expenses so this perk was a great way to get a free $500.
It also offers 2% cash back at grocery stores and 1% cash back on all other purchases. These are pretty standard across the credit card market. But the 4% cash back on dining and entertainment is well above the market average.
Capital One Savor Credit Card: Other Benefits
Another benefit of this card is the heavy metal feel. You can expect many compliments on your card. While this isn’t a deciding factor for many, it’s something to think about.
There is one downside to the metal card however. Because the back of the metal contains all of the card information and is plastic, it tends to peel off around the corners. I have had my card replaced once already because of this. Not a big deal, but something to consider.
Another additional benefit I received was free Postmates Unlimited, a $10 value per month for 6 months. While this may not be a perk everyone takes advantage of, it certainly didn’t hurt.
Capital One Savor Credit Card: Cost
My biggest complaint about the card is the $95 annual fee. There is some good news however, the first year fee is waived. When deciding whether this card is right for you, you’ll need to add this into the equation.
Capital One Savor Credit Card: Qualifications
The Capital One Savor Credit Card requires an “Good” to “Excellent” credit score. The chances are if your score is above 700 points, you will probably be approved for this card. If you’re on the edge, you might consider going with a different card to avoid a potential unnecessary hard inquiry.
Capital One Savor Credit Card: Credit Limit Increases
Another advantage of Capital One credit cards is their policy on credit limit increases. As of November 30, 2019 whenever you request a credit limit increase, there is NO hard inquiry. Only a soft pull of your credit will take place. This is a great way to get an increase in your credit limit without the negative impact of a hard inquiry.
Should I get the Capital One Savor Credit Card?
After 6 months of owning the card, I find that I use my Savor card more than any other credit card I own. The 4% cash back on dining and entertainment can accumulate hundreds of dollars in rewards over the course of a year. You just need to make sure that it will offset the $95 annual fee for it to be worth it.
The heavy metal feel of the card gives it a sense of luxury without the high fees of other competitors. Throw in a generous sign up bonus of $300-$500 when you spent $3,000 in the first 3 months and that is a nice added bonus.
All in all I would highly recommend this card if you are a heavy spender on dining and entertainment. If you have a credit score above 700 points, the Capital One Savor Credit Card is certainly worth a look!
Looking to maximize your credit card rewards? Read our full article on how to maximize credit card rewards here!
Overall Score: 8.7/10