The legacy Capital One Savor Cash Rewards Credit Card is no longer taking new applications as of July 2024, although existing cardholders can still use the card. Those interested in the legacy Capital One Savor Cash Rewards Credit Card can check out the new Capital One Savor Cash Rewards Credit Card, formerly known as the SavorOne card, instead.
Key takeaways
- The Capital One Savor Cash Rewards Credit Card and the legacy Capital One Savor Cash Rewards Credit Card both offer rewards rates on dining, entertainment, hotels, car rentals and more, as well as welcome bonuses that depend on your spending.
- The legacy Capital One Savor, which is now discontinued, offers a higher rewards rate but comes with an annual fee.
- The new Savor is a worthy replacement, however, offering an intro APR on purchases and balance transfers that you won’t find with the legacy Capital One Savor — and with no annual fee to eat into your rewards.
If you’re looking for a rewards credit card that gives you more points on dining and entertainment, then either the Capital One Savor Cash Rewards Credit Card — formerly called the SavorOne card — or the legacy Capital One Savor Cash Rewards Credit Card* could be an ideal option. Both cards offer similar earning structures and allow you to redeem cash back in similar ways, but one offers a slightly less lucrative rewards structure in exchange for no annual fee.
Should you continue to pay the $95 annual fee for the legacy Capital One Savor in order to score more points on your spending, or would you rather skip the fee and earn slightly less in cash back throughout the year? This card comparison should help you decide.
Main details
| Cards | Legacy Capital One Savor Cash Rewards Credit Card | Capital One Savor Cash Rewards Credit Card |
|---|---|---|
| Welcome bonus | N/A | Earn a $200 bonus after spending $500 within your first 3 months from account opening |
| Rewards rate |
|
|
| Intro APR | N/A | 0% intro APR on purchases and balance transfers for 15 months, followed by a variable APR of 19.24% – 29.24% (Variable); a 3% fee applies to balance transfers |
| Annual fee | $95 | $0 |
Capital One Savor vs. legacy Savor highlights
It’s easy to see why the Capital One Savor or the legacy Capital One Savor might make your list, but which one stands out more? We compare these two Capital One cards side by side in several important categories so that potential cardholders can see their differences for themselves.
Welcome bonus winner
Annual fee winner
Foreign transaction fee winner
Intro APR offer winner
Which card earns the most?
To figure out which card will help you earn more rewards, first determine how much you spend on dining, entertainment and streaming services. If you spend a lot in these three categories every month, then continuing to pay the $95 annual fee on the legacy Savor could easily put you ahead. If your spending is more balanced, or if you find that you spend a lot more on grocery store purchases, for example, then the Savor might be a better choice.
Capital One Savor vs. legacy Savor spending example
Imagine for a moment that you dine out most days of the week, and you frequently spend money on purchases Capital One counts as entertainment. For example, entertainment purchases include:
- Movie tickets
- Theatrical promoters
- Sports promoters
- Amusement parks
- Tourist attractions
- Aquariums
- Zoos
- Dance halls
- Bowling alleys
- Pool halls
- Record stores
In any given month as a frequent spender, say you spend $1,000 on dining, entertainment and streaming services, $400 at grocery stores and $500 on all other spending with your credit card. Here’s what your cash back would look like:
| Spending category | Money spent monthly | Legacy Capital One Savor cash back earned | Capital One Savor cash back earned |
|---|---|---|---|
| Dining, entertainment & streaming services | $1,000 | $40 | $30 |
| Grocery store purchases | $400 | $12 | $12 |
| Miscellaneous | $500 | $5 | $5 |
| Total per month | $1,900 | $57 | $47 |
At the end of 12 months, you’ll have earned $684 in cash back with the legacy version of the Savor. In the meantime, the new Savor would leave you with $564 in cash back rewards for this same spending — a $120 difference. Subtract the legacy Savor’s annual fee, and you’d come out ahead by $25 if you carried that card.
But what if you cooked at home more often than you ate out and didn’t make entertainment purchases as frequently? Here’s how your rewards might look:
| Spending category | Money spent monthly | Capital One Savor cash back earned | Capital One SavorOne cash back earned |
|---|---|---|---|
| Dining, entertainment & streaming services | $400 | $16 | $12 |
| Grocery store purchases | $1,000 | $30 | $30 |
| Miscellaneous | $500 | $5 | $5 |
| Total per month | $1,900 | $51 | $47 |
You’d earn $612 in cash back with the legacy Savor after 12 months, and the same $564 in cash back with the Savor. Take away the $95 annual fee from the legacy Savor’s earnings, and you’d get $517 in cash back, which is $47 less than the new Savor.
Plus, when including the welcome bonus you’d earn with that spending, you’re looking at $764 in first-year cash back earned with the Savor.
These examples show that while you’ll likely earn more cash back with the legacy Savor, you still have to consider whether your spending habits justify the annual fee. If you already carry the legacy Savor and find that you’re not spending as much eating out or taking advantage of Capital One’s robust entertainment category, then you might be better off downgrading to the no-annual-fee Savor card.
If you find yourself eating out and spending more on entertainment than you do on groceries each month, then keeping the legacy Savor might be a better move.
Why should you keep the legacy Capital One Savor?
If you spend quite a bit on dining, entertainment and streaming services each year, then continuing to pay the $95 annual fee could be well worth it. After all, you’d earn considerably more in rewards over time with your spending, which could make the annual fee a good investment. Here are additional factors to consider before you sign up:
Why should you get the Capital One Savor?
The Savor doesn’t have an annual fee, so it’s worth considering if you’re adamant about not paying one. Plus, it offers a rewards structure that’s almost exactly the same as the legacy Savor. Beyond its generous rewards, here are additional reasons to consider signing up for the Savor:
The bottom line
The card that’s best for you really depends on how much you spend on dining, entertainment and streaming services, along with whether you’re comfortable paying an annual fee. The legacy Capital One Savor could easily leave you ahead if you spend a lot on these types of purchases and don’t mind paying $95 per year to earn more rewards. But, the new Capital One Savor is still a good option if you don’t want to pay an annual fee, since you’ll earn similar rates in several categories.
Either way, compare both of these cards to the best credit cards on the market today to find an ideal fit with your budget and spending habits. You may find other card options that let you rack up even more cash back in the categories where you spend the most.
*Information about the legacy Capital One Savor Cash Rewards Credit Card has been collected independently by Bankrate. The card details have not been reviewed or approved by the card issuer.
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