Why I Don’t Have a Capital One Savor Rewards Card

An O-2 medical service corps reader asked me why I don’t have this card:

Simple answer is I don’t even know if Capital One waives fees for military per the MLA or SCRA. Please post data points if you got them! I don’t have any of their credit products, but have a 2% Money Market Account ($10,000 minimum). This gives me an ATM card with access to their Capital One cafes around the country.

I did a quick back of the envelope calculation on the known MLA waived products and determined we have much better cash back with these products:

  • Chase Sapphire Reserve:
    • 3x UR on dining
    • Each UR is worth 1.5 cents on flights
    • 4.5% travel value.
  • AmEx Personal Gold
    • 4x MR on dining
    • Each MR worth 1.5 cents with AmEx Biz Plat
    • 6% on flights
    • Each MR worth 1.25 cents with Schwab Platinum
    • 5% cash back on dining
  • AmEx Biz Gold
    • 4x MR on dining
    • Each MR worth 1.5 cents with AmEx Biz Plat
    • 6% on flights
    • Each MR worth 1.25 cents with Schwab Platinum
    • 5% cash back on dining
  • Citi Prestige
    • 5x TY points on dining
    • Each TY point worth 1.25 cents on travel
    • 6.25% Cash back on travel

The Savior card is a flat 4% on dining and would waste a hard pull and a 5/24 slot. The 4% cashback cah be beat with AmEx Gold at 4x MR on dining, with cash out with Schwab Plat at 5% cashback since each MR is worth 1.25 cents per point.

-Derp

11 thoughts on “Why I Don’t Have a Capital One Savor Rewards Card

  1. Community Player says:

    Capital one only waives the fee if you had the account before active duty. There are a couple of videos on YouTube that have documented this for military members.

    • el_georgie says:

      Not accurate..They waived the fees. This was my first “points” card shortly after I entered AD. I paid the AF for the first two years ($59×2). I then found out about the SCRA benefits and send the request. They actually waived the 2 yrs that I paid and havent paid any AF ever since. Dont use the card anymore, just keeping it for the history. Took me a while to dig the exact month the fee was waived, but see below the DP from my statement. To be clear I opened the card after being on AD, had no history with Capital One prior.

      https://imgur.com/LNWMVZm

  2. Mike says:

    Hello! Just a quick question about the saks credits for Amex plat. Is there a way to get gift cards and get reimbursed for it? Any help would be great. Can’t find anything on reddit and people said unless you buy it in store, you have to use those $50 saks credit

    • uiucderp2011 says:

      I went in and bought a $400 gift card split over 8 Amex personal platinum cards. This is all paired with Ebates (https://go.ebat.es/kjpWGSOcvW ) I have only bought $50 items online, and had them shipped and wrapped free with shop runner also stacked with Ebates,

      Just wait till you are in a town get has a saks and buy the gift cards in person, no rush unless it’s close to July or January and must dump them.

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