Capital One Savor vs. SavorOne: Understanding the Differences
Capital One offers a variety of credit cards tailored to different needs. Among them, the Savor and SavorOne stand out for those who love dining and entertainment. But what distinguishes these two cards? Let’s delve into their features, benefits, fees, and more.
Reward Structures
The Capital One Savor card is designed for consumers who frequently dine out and entertain. It offers a lucrative 4% cash back on dining and entertainment purchases. Additionally, it provides 3% back on groceries, with 1% back on all other purchases.
SavorOne, while appealing to similar interests, offers 3% back on dining and entertainment. It also mirrors the 3% grocery reward offered by the Savor but caps other purchases at 1% cash back.
When considering the reward structures, frequent diners may benefit more from the Savor card’s higher dining and entertainment return rates. However, the difference in cash back percentages could be negligible for those with moderate spending in these categories.
Annual Fees
The Savor card has a $95 annual fee. For this price, users gain access to enhanced cash back utilities for dining and entertainment. In contrast, the SavorOne card comes with no annual fee, making it a more economical choice for occasional diners.
Consumers should weigh these fees against their anticipated spending. If annual savings from cash back outweigh the Savor card’s fee, it’s potentially worth the investment. For those preferring not to pay a fee, SavorOne is attractive.
Sign-Up Bonuses
Both cards come with sign-up bonuses tailored to kickstart your cash back journey. The Savor card extends a bonus after spending a set amount within the first three months. Historically, it hovers around a $300 reward for a $3,000 spend requirement.
On the other hand, the SavorOne typically offers a $200 bonus with a $500 spend requirement in the same period. While the Savor’s bonus is larger, it demands higher spending. SavorOne’s bonus is accessible with more modest expenditure.
Intro APR Offers
SavorOne includes a 0% introductory APR on purchases for the first 15 months. This is invaluable for those planning significant purchases or consolidating higher-interest debt. However, after this period, a variable APR kicks in.
The Savor, while generous in rewards, does not offer a similar introductory APR period. It’s designed for those who aim to pay off balances monthly and benefit from cash back without interest concerns.
Additional Benefits
Both cards come loaded with perks typical of Capital One offerings. They provide no foreign transaction fees, a boon for international travelers. Fraud coverage and security alerts enhance consumer confidence.
Capital One’s travel benefits are an attractive addition. Cardholders have access to Capital One Travel, including hotel discounts and car rental insurance. These are useful when planning trips and seeking savings.
Entertainment Access
A unique feature of the Savor family is exclusive entertainment access. Cardholders receive pre-sale offers to concerts and events through special Capital One partnerships. This feature elevates experiences beyond mere cash back.
Choosing Between Savor and SavorOne
Deciding on Savor versus SavorOne hinges on personal spending habits. If you dine frequently and attend events regularly, the Savor card’s enhanced cash back structure may benefit you. However, if you are occasional in your entertainment spending, SavorOne’s absence of an annual fee could be more cost-effective.
In summary, both cards appeal to a lifestyle centered around dining and entertainment but offer distinct features to suit different financial priorities. Consider your average spending and fee tolerance when choosing.