What the Savor Credit Card Offers

The Savor Credit Card is a cash-back rewards card issued by Capital One designed for people who spend on dining, entertainment, and groceries. It returns 4% cash back on dining and entertainment purchases, 1% on all other purchases, and has no annual fee. The card does not require a minimum credit score to open an account, though Capital One reviews your credit history as part of the decision process.

This card works best if you spend regularly at restaurants, bars, movie theaters, concert venues, or streaming services. The 4% category is broad enough to cover most entertainment spending, but the 1% baseline on everything else means you won't earn extra rewards on gas, travel, or shopping unless those purchases happen to fall into the dining or entertainment category.

Capital One also offers a version called the Savor One Rewards Card, which has the same rewards structure but is marketed toward people with less established credit. Both cards report to all three major credit bureaus, so responsible use can help build your credit history over time.

Key Takeaways

  • The Savor card earns 4% cash back on dining and entertainment, 1% on everything else, with no annual fee or minimum credit score requirement.
  • Capital One reviews your credit report during the process process, so you will see a hard inquiry on your credit report regardless of whether you are approved.
  • Cash-back rewards post to your account monthly and can be used as a statement credit, transferred to a bank account, or redeemed for other options depending on your account.
  • The card comes with a $0 fraud liability may provide, meaning you are not responsible for unauthorized charges if you report them promptly.
  • Your credit limit and interest rate depend on your credit history and income at the time of process.

How to Open a Savor Account

You can open a Savor account online through Capital One's website or by phone. The online process takes about 10 minutes and asks for your Social Security number, date of birth, income, employment status, and current address. You will also need to provide a valid government-issued ID to verify your identity.

Capital One will pull your credit report during the process, which creates a hard inquiry. This inquiry stays on your credit report for about two years and may lower your score by a few points temporarily. You will receive a decision when ready in most cases — either approved, approved with conditions, or denied.

If you are approved, your card ships within 7 to 10 business days. You can use your card number for online purchases before the physical card arrives if Capital One provides it during approval. Once the card arrives, you will need to set up it by calling the number on the back or using the Capital One mobile app before you can make purchases.

Activating Your Card and Setting Up Rewards

set up happens through the Capital One website or mobile app. You will enter the card number, expiration date, and CVV code. After set up, your card is ready to use when ready for purchases in person, online, or over the phone.

Rewards post automatically to your account each month. You do not need to register for rewards or take any extra steps — every purchase earns cash back based on the category it falls into. Capital One categorizes purchases using merchant codes, so a restaurant will earn 4% even if it also sells groceries, but a grocery store will earn 1% even if it has a prepared food section.

You can view your cash-back balance in the Capital One app or online account portal. Once you have at least $20 in rewards, you can redeem them as a statement credit, transfer them to a linked bank account, or use other redemption options Capital One offers. There is no expiration date on cash-back rewards, so you can let them accumulate if you prefer.

Understanding Interest Rates and Fees

The Savor card has no annual fee, no foreign transaction fees, and no balance transfer fees. However, it does charge interest on balances you carry from month to month. Your interest rate (called the APR, or annual percentage rate) is determined when you open the account and depends on your credit score, income, and credit history.

Capital One will show you the APR range you may receive before you complete your process. The actual rate you get may fall anywhere in that range. If you pay your full statement balance by the due date each month, you will not pay any interest charges.

Late payments carry a fee, and if you miss a payment by more than 30 days, Capital One will report it to the credit bureaus. This can significantly damage your credit score. If you carry a balance, interest accrues daily on the unpaid amount.

What Happens After You Are Approved

Once your account is open, you can log into the Capital One website or app to view your statement, make payments, update your address, and manage your rewards. Capital One sends a statement each month showing your purchases, balance, minimum payment due, and the due date.

You can set up automatic payments so your full balance or a fixed amount pays on the same day each month. This reduces the risk of missing a payment. Capital One also allows you to pay your bill early or make multiple payments throughout the month if you prefer.

If your financial situation changes and you need to lower your payment, you can contact Capital One to discuss options. The company also periodically reviews accounts and may increase your credit limit if you use the card responsibly and pay on time.

Common Reasons Applications Are Denied

Capital One may deny your process if you have recent late payments, high existing debt relative to your income, a very low credit score, or a history of charge-offs or collections. A recent bankruptcy can also result in denial, though Capital One does consider applications from people rebuilding credit.

If you are denied, Capital One will send you a letter explaining the reason. You can request a copy of the credit report they used in the decision. If there are errors on your report, you can dispute them with the credit bureau directly, and reapplying after corrections may result in approval.

If you have limited credit history rather than poor credit, the Savor One card may be easier to open. It has the same rewards and no annual fee but is designed for people with less established credit profiles.

How Savor Compares to Other Dining and Entertainment Cards

The Savor card's main advantage is that it has no annual fee and no minimum credit score requirement. Many other 4% dining and entertainment cards charge $95 to $150 per year, which means you need to earn at least that much in rewards just to break even.

The Chase Sapphire Preferred and American Express Gold both offer higher rewards on dining (3% and 4% respectively) but charge annual fees of $95 and $250. The Discover it Cash Back card offers 5% cash back on rotating categories that sometimes include dining, but the category changes quarterly and you have to set up it each time.

If you spend less than $2,000 per year on dining and entertainment combined, the Savor card's lack of an annual fee makes it the better choice. If you spend significantly more and want higher rewards rates, a premium card with an annual fee may pay for itself.

Frequently Asked Questions

How long does it take to get approved for the Savor card?

You receive a decision when ready after completing your online process in most cases. If Capital One needs more information, they will contact you by phone or email. Your physical card ships within 7 to 10 business days after approval.

Can I use my Savor card internationally?

Yes, you can use your Savor card outside the United States. There are no foreign transaction fees, so you pay the same rewards rate as you would domestically. However, your bank or the merchant may charge additional fees, and the exchange rate used is set by Visa or Mastercard depending on which network your card uses.

What if I want to close my Savor account?

You can close your account by calling Capital One or through the mobile app. Closing an account does not affect your cash-back rewards — you can still redeem them after the account is closed. However, closing a credit card can lower your credit score temporarily because it reduces your available credit and may increase your credit utilization ratio on other cards.

Does the Savor card help build credit?

Yes, if you use it responsibly. Capital One reports your account activity to all three credit bureaus each month. Paying on time and keeping your balance low relative to your credit limit helps build a positive credit history. Missed payments or high balances will damage your score.

What is the difference between the Savor and Savor One cards?

Both cards have the same rewards structure and no annual fee. The Savor One is marketed toward people with less established credit or lower credit scores. The approval standards may be slightly different, but once approved, the cards function identically and earn the same rewards.