Dining and Entertainment Purchases
With the CapOne Savor card, you’re going to earn 4% back on all your dining and entertainment purchases. Naturally, you will want to make this your designated card for all purchases within those categories. If you’re someone who goes out frequently, this can really add up.
Hot Tip: Capital One categorizes dining as purchases as restaurants, cafes, bars, lounges, fast-food chains, and bakeries. Entertainment purchases can be movies, plays, concerts, sporting events, tourist attractions, theme parks, aquariums, zoos, dance clubs, pool halls, or bowling alleys. You have plenty of options to maximize that 4% cash-back with both categories!
With the CapOne Savor card, you’ll earn 2% cash-back at supermarkets, meat lockers, freezers, dairy product stores, and specialty markets. This gives you plenty of opportunities to earn a solid return on all your grocery store runs.
Keep in mind that the non-grocery superstores like Walmart and Target will not count toward this category.
This card earns 1% cash-back on all purchases that don’t fall within the dining, entertainment, or grocery store categories. If you don’t hold any other cards in your wallet that offer a higher return, then this card is certainly better than nothing.
After all, if you’re using the card for all of your purchases and paying your balance off in full each month, even the points you earn from non-bonused purchases will start to add up.
Cash-Back or Statement Credit
When it comes to the CapOne Savor card, your points are always worth a fixed 1 cent each toward cash-back. Unlike with travel rewards cards, there aren’t any strategic redemptions available to greatly increase the value of your points.
However, the pro to this method is that there are no hoops to jump through, no transfers partners to worry about, and no award charts to fixate over either. Each point with your CapOne Savor card will always be worth 1 cent in cold hard cash.
When you’re ready to redeem your points, you have the option of using them as a statement credit to offset purchases you’ve made, or you can take the pure cash-back option and receive a check in the mail.
One relatively unique positive with the CapOne Savor card is that there is no minimum redemption requirement. This gives you much more autonomy when deciding the amount and frequency with which you use your points.
When your eligible card is linked to PayPal, you can also checkout with PayPal and redeem your cash-back at a rate of $1 to $1.
Like many other rewards credit cards, Capital One also gives cardholders the option to redeem their points for gift cards at a rate of 1 cent per point. While this may seem convenient if you have plans to make a purchase with a certain store, we recommend you just take the cash-back or statement credit instead.
This is because both cash-back and statement credits are more flexible and can be used to cover purchases made with any retailer (as opposed to just 1).