The Capital One Savor Cash Rewards Credit Card is one of the best options for people who frequently spend on groceries, dining, and entertainment, as it offers cash back rewards with no annual fee. However, a flat-rate cash back card might be a better option if your spending is not focused on these categories.

Point Multipliers

Earning cash rewards is hassle-free, with no rotating categories or activations necessary. Your cash back will never expire for the life of the account, allowing you to earn an unlimited amount.

The Capital One Savor has competitive multipliers on everyday categories:

• 8% Cash back on Capital One Entertainment purchases
• 5% Cash back on hotels and rental cars booked through Capital One Travel. Terms apply.
• 3% Cash back on dining
• 3% Cash back on entertainment
• 3% Cash back on popular streaming services 
• 3% Cash back at grocery stores (excluding superstores like Walmart® and Target®)
• 1% Cash back on all other purchases

Capital One uses merchant category codes to classify purchases into additional cash back categories. However, this may result in some purchases not earning additional Cash back. For example, a restaurant or dining establishment inside a hotel may code as a hotel and not dining. 

What Qualifies as an Entertainment Purchase?

The "Entertainment" category encompasses ticket purchases made at a variety of venues such as movie theaters, record stores, video rental locations (excluding digital streaming and subscription services), tourist attractions, amusement parks, aquariums, zoos, dance halls, billiard and pool establishments, bowling alleys, commercial sports promoters (professional or semi-professional live sporting events), theatrical promoters, and concert promoters.

The following items are excluded from earning 3% cash back on entertainment: golf courses, country clubs (including membership fees), collegiate sporting events categorized as “universities”, charitable organizations that provide live entertainment, amusement park tickets purchased on third-party sites or on entertainment and resort packages categorized as “travel” or “hotel”.

What Qualifies for Streaming Purchases?

Streaming includes purchases from eligible music and video streaming services like Netflix, HBOMax, and Spotify.

The following items are excluded from earning 3% cash back on streaming: Prime Video, AT&T TV, Verizon FIOS On Demand, audiobook subscription services, and fitness programming.

How to Redeem Cash Rewards

Redeeming your cash back is as simple as requesting a statement credit, check, or gift card, once you have accumulated $25 worth of cash back. This can be done through the Capital One app or your online account, and you can also redeem rewards on Amazon.com.

Capital One Miles

In addition, you now have the option to convert your cash back earned at a 1:1 ratio into Capital One Miles and transfer them to various airline and hotel partners. This provides a great potential value if travel is the reward you are after.

Note that to convert cash back to Capital One Miles, you need a miles-earning card like the Capital One Venture, Capital One Venture X, or Capital One Spark Miles.

1:1 Transfer Ratio

When you transfer 1,000 Capital One Miles to any of the listed transfer partners, you will receive the same number of miles or points in the corresponding travel loyalty program.

• Aeromexico Club Premier
• Aeroplan®
• Asia Miles
• Avianca LifeMiles
• British Airways Executive Club
• Choice Privileges®
• Emirates Skywards
• Etihad Guest
• Finnair Plus
• Flying Blue
• Qantas Frequent Flyer
• Singapore Airlines KrisFlyer
• TAP Miles&Go
• Turkish Airlines Miles&Smiles
• Virgin Red

2:1.5 Transfer Ratio

When you transfer 1,000 Capital One Miles to this partner, you will receive 750 miles or points in their travel loyalty program.

• EVA Air Infinity MileageLands

2:1 Transfer Ratio

When transferring 1,000 Capital One Miles to this partner, you will receive 500 miles or points in their corresponding travel loyalty program.

• ALL - Accor Live Limitless

The high earning rate of Savor card makes transfer partners a worthwhile rewards option, especially if you can take advantage of Capital One's transfer sweet spots.

Main Takeaway

The Capital One Savor Cash Rewards Credit Card is a great option to consider if dining, groceries, and entertainment are your major expenses and you want a cash back card without any annual fee.

If your expenses are not mainly focused on dining and entertainment, or if you want a card that provides a flat earning rate on all spending without the need to track bonus categories, then other cash back cards may be a better option for you. On the other hand, premium cards with higher redemption options should be considered if your goal is to earn points and miles for travel.