The Capital One Savor Cash Rewards Credit Card is no longer accepting new applications as of July 2024, but existing cardholders can continue using their cards. Those interested in the Savor Card may want to consider the Capital One SavorOne Cash Rewards Credit Card as an alternative.
Key takeaways
- The Capital One SavorOne Cash Rewards Credit Card is an excellent choice for those looking for entertainment and dining perks on a card with good rewards rates.
- What Capital One includes as ‘entertainment’ spending is pretty broad, so cardholders will likely get good use out of the cash back rate.
- Even though Capital One leaves this category pretty open, whether your purchase counts in the entertainment category will ultimately depend on how the merchant classifies their product.
There are various rewards cards that offer cash back for every dollar spent, but they operate differently. Some cash back credit cards provide a flat rate of rewards regardless of the purchase, while others have rotating rewards categories that change quarterly. Additionally, there are cash back cards that offer tiered rewards for different types of purchases.
The Capital One SavorOne Cash Rewards Credit Card falls into the latter category. This card, along with the now-discontinued Capital One Savor Cash Rewards Credit Card*, offers bonus rewards for dining, entertainment, popular streaming services, and grocery store purchases. However, the cards differ in terms of annual fees and rewards rates. We delve into what qualifies as entertainment for Capital One and how to optimize your card benefits.
What qualifies for the Capital One SavorOne card’s entertainment categories?
While grocery store purchases and dining are clear bonus categories, it’s important to understand what constitutes “entertainment” with the Capital One SavorOne card. Capital One outlines the specific purchases that qualify as entertainment in the FAQs on its website.
Entertainment purchases eligible for the Capital One SavorOne card include:
- Movie theaters
- Theatrical promoters
- Sports promoters (professional and semi-professional live events)
- Amusement parks
- Tourist attractions
- Aquariums and zoos
- Dance halls
- Bowling alleys
- Pool halls
- Record stores
Purchases that do not count as entertainment with Capital One include:
- Golf courses
- Collegiate sporting events
- Purchases with non-industry entertainment merchant codes (like cable, digital streaming, and membership services)
Do popular streaming services qualify as entertainment?
Popular streaming services do not fall under entertainment purchases. Instead, “popular streaming services” constitute a separate cash back category. Eligible music and video streaming services that may qualify for cash back include:
- Netflix
- Hulu
- Disney+
- Max (formerly HBO Max)
- Apple.com, iTunes, and Apple Music
- Peacock
- Spotify
- ESPN+
- FuboTV
- Bandcamp
- DirecTV
- Sirius XM
- Sling TV
- Starz Entertainment
- Tidal
Popular streaming services that do not qualify for cash back include:
- Prime Video
- AT&T TV
- Verizon Fios On Demand
- Audiobook subscription services
- Fitness programming
Maximizing entertainment rewards (and more) with Capital One SavorOne
If you prefer staying in, you might wonder how to make the most of the bonus categories on your cards. Luckily, there are numerous ways to leverage SavorOne entertainment rewards from the comfort of your home. Here are a few strategies:
- Utilize the Capital One Entertainment portal for occasional outings: The SavorOne card offers 8 percent cash back on Capital One Entertainment purchases. Whether you’re buying concert tickets or sporting event seats for future events, the SavorOne can help you accumulate cash back quickly in this category. Even if you don’t frequent entertainment venues, the portal is a great resource for special event tickets.
- Use the SavorOne for takeout and delivery: The SavorOne also rewards dining purchases, even for takeout orders. If you’re ordering takeout from your favorite restaurant, you can earn bonus rewards on those purchases as well. Additionally, you can earn 10 percent cash back on purchases through Uber and Uber Eats (until Nov. 14, 2024).
- Charge your streaming service subscriptions to your SavorOne: By using your SavorOne card for eligible streaming purchases, you can earn cash back while enjoying your favorite shows or music.
An in-depth look at the Capital One SavorOne
At this point, you may be evaluating whether the SavorOne card’s entertainment, popular streaming services, and dining categories offer sufficient value for you to apply for the card. The SavorOne card is ideal for individuals who spend significantly on dining and entertainment. However, you might find more value in a card with additional benefits and perks, provided you’re comfortable with a potential annual fee.
Let’s compare the benefits and rewards rates of the SavorOne card with a premium option for food enthusiasts, such as the American Express® Gold Card.
American Express Gold Card vs. Capital One SavorOne details
| American Express Gold Card | Capital One SavorOne Cash Rewards Credit Card | |
|---|---|---|
| Welcome bonus | Earn 60,000 Membership Rewards Points after spending $6,000 on eligible purchases in your first 6 months from account opening. Plus, receive 20% back in statement credits (up to $100 back) on eligible purchases made at restaurants worldwide within the first 6 months from account opening (offer ends Nov. 6, 2024) | Earn a $200 cash bonus after spending $500 on qualifying purchases within the first 3 months from account opening. |
| Rewards rate |
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| Highlighted benefits |
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| Annual fee | $325 | $0 |
As evident, a food-centric rewards credit card with an annual fee like the Amex Gold typically provides more value compared to a food-centric cash back card without an annual fee. However, this is only beneficial if you can make use of the perks enough to justify the fee. If you prefer fewer statement credits and streamlined rewards in the form of cash back, the no-annual-fee Capital One SavorOne may be more suitable for you.
Getting the most out of your Capital One SavorOne card
To optimize your SavorOne card, use it for all purchases that qualify for bonus rewards, including eligible dining and entertainment purchases per Capital One’s guidelines. Keep in mind that some merchants may use a different category code than “entertainment.” In such cases, purchases with these merchants may not qualify as entertainment purchases with Capital One. For instance, certain amusement parks may categorize online tickets under “merchandise” instead of “entertainment.”
Furthermore, the card offers 3 percent cash back on grocery store purchases (excluding superstores like Walmart and Target), making it a solid choice for essentials. You can also enhance your rewards earnings by taking advantage of the 8 percent cash back on Capital One Entertainment purchases and 10 percent cash back on purchases through Uber and Uber Eats (until Nov. 14, 2024).
All these category expenditures should make it easy to meet the $500 minimum spending requirement and earn the card’s $200 welcome bonus. Just remember to spend the $500 within 3 months of opening the account to qualify.
Lastly, to prevent your cash back rewards from being offset by accruing interest, ensure to pay off your credit card balance in full each month.
Note: If you have the now-discontinued Capital One Savor Cash Rewards, you’ll need to earn at least $95 in cash back to offset the card’s annual fee. For instance, spending just $3,167 annually on grocery store purchases or $1,188 through Capital One Entertainment would cover the amount spent on your annual fee.
The final verdict
If you aim to maximize the entertainment category with the Capital One SavorOne Cash Rewards card, it’s essential to stay informed about which entertainment purchases qualify. Thankfully, this rewards category is broad, making it easy for consumers to earn cash back on entertainment. Moreover, SavorOne cardholders can earn rewards on popular streaming services, dining, and other categories.
Once you feel you’re optimizing this card and its entertainment category, consider complementing it with another Capital One credit card to further enhance your Capital One rewards.
*Bankrate has independently gathered information about the Capital One Savor Cash Rewards Credit Card. Card details have not been endorsed or reviewed by the card issuer.