Capital One Savor if offering 4% cash back on your dining and entertainment purchases, 2% cash back on your grocery store purchases. To offset the $95 Annual fees from the second year, you need to spend at least $200 per month in Dining and Entertainment. Entertainment category includes 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 a record store and video rental locations.
If you are too lazy to accumulate points and redeem via partners, Capital One Savor is the right choice. It’s clear that it is targetted for the busy millennials who spend eating and having fun outside.
Comparing this with Chase Sapphire Preferred offering 2X points on travel and dining at restaurants worldwide. Capital One Savor has better cashback, but if you know how to redeem rewards through partners like Hyatt, my favorite Chase Ultimate Rewards redemption, where you can get hotel redemption starting from 5000 points giving better value and Chase Sapphire Preferred gives more value.
The other card that is best for dining is American Express Gold offering 4% at US restaurants, in addition to that 4% at US supermarkets on up to $25,000 and 3X on flights booked directly at amextravel.com. Earn up to $10 in statement credits monthly when you pay with The Gold Card at participating partners like GrubHub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House and Shake Shack locations. This adds to an annual savings of up to $120.
Capital One Savor is offering a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening.
Capital One redemption is definitely hassle-free, just take cash every now and then. Capital One recently added a One-year Free benefit as a promotion at Postmates. Postmates is a service that, like GrubHub and Seamless, connects you with restaurants, letting you place an order online for delivery or pickup. The Unlimited plan costs $9.99 a month and gets you free delivery on all orders of $15 or more. When you have an active subscription, Savor card will credit $9.99 per month when you charge for any purchase.
Capital One waives its Annual Fees for the first year, after that it’s $95. Capital One with $95 Annual Fee and top 4% category rewards is the best when it comes to paying off the fees with rewards. You can pay off the annual fee with spending at just $200 per month in those categories. Any additional cashback from spend goes to your pocket.
Comparing with Chase Sapphire Preferred
Chase Sapphire Preferred is offering 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards.
Chase Sapphire Preferred has the best reward program that is available in the market today, but if you want to avoid accumulating reward points with multiple cards, then Capital One Savor is the way to go for taking cash.
Capital One is a strong Cashback card with 4% cash on dining and entertainment including internationally. Capital One offers great fraud alerts. The current promotion of $300 is not the best when compared to Chase Sapphire preferred, but still worth if you are looking for cashback only card, otherwise, Chase Sapphire Preferred clearly wins over in all aspect.
If you know how to redeem rewards through partners like Hyatt, my favorite Chase Ultimate Rewards redemption, where you can get hotel redemption starting from 5000 points giving better value and Chase Sapphire Preferred gives more value. A lot prefer to hold Chase Sapphire Reserve which is a premium card offering some great travel perks.