Maximizing cashback on capital one savor cash rewards card, any ideas?

Discussion in 'Maximizing Cashback Rewards' started by Simrin, Dec 28, 2019.

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  1. Simrin

    Simrin Newbie

    Hey Cashback Community,

    Hope you are all well. I'm super excited because I've just been approved for the Capital One Savor Cashback Rewards. This is my first Cashback rewards credit card. I've worked very hard over the last 6 months getting my credit score to 700+.

    Really like to hear about all the weird and wonderful ways to generate some extra cash.

    Thanks in advance....
  2. Miles

    Miles Newbie

    Hey Simrin,

    Congratulations on being approved for your first cashback rewards credit cards. I remember the first time I was approved, it's a nice feeling.

    I also have the Capital One Savor Cash Rewards Credit card and have earned a lot of cashback when I used it actively for the first year.

    First thing you have to do is take advantage of the $300 cash bonus on offer when you spend $3000 in the first 3 months, do not miss this opportunity.

    Your $300 cash rewards will be credited to your account quite sharpish so you won't have to chase Capital One for the payment.

    I'm sure others will chime in with more advanced strategies to take advantage of the cash back rewards of offer.
  3. Tiplady

    Tiplady Newbie

    Hey Simrin,

    I'm happy that you've been approved for the Capital One Savor Cashback Rewards credit card. I know you've been working on your credit score for a while to congrats...

    Instead of giving you strategies on how to generate cashback rewards on the Capital One Savor I though I would share my set up and how I earned cashback rewards.

    First of all, you probably know you can earn unlimited cash back rewards.

    You can earn 4% cashback on dining and entertainment.

    You can earn 2% cashback at the grocery store and 1% cashback on everything else.

    I use to spend $1000 a month on my Capital One Savor Card and then pay off the balance at the end of the month.

    • I spent $200 on restaurants and entertainment so I received $8 cashback every month.
    • I spend $200 at the Grocery store so I received $4 cash back.
    • On the remaining $800 spend I got $6 cash back every month.

    Roughly I earned about $18 per month in cash back rewards, in a year this was $216. If you also add the $300 bonus you get at after 3 months I earned a total of $516 which is not bad at all.

    I used this money to go on a nice break. Isn't Cashback GREAT!
  4. Sadia

    Sadia Administrator

    Hi Simrin,

    Really happy for you. I remember my first cashback rewards credit card, I was over the moon. I also have the Capital One Savor One Cashback credit card and I'm making a lot of money using it.

    I run a small service on the side buying and selling tickets on Vivid Seats. It's sort of like StubHub where you get cheap tickets to concert or sporting events.

    You can earn 8% cashback with Vivid Seats all they way up to May 2020.

    For example, I managed to get a pass to Bonnaroo which is a Musical Festival in Tennessee for $375, usually these tickets cost $420+. I used my Capital One Savor One Cashback Rewards Credit Card and earned $30 cashback rewards.

    Once you do this a few times the cashback really adds up. All you need is a network of willing buyers who will take these tickets off your hands. Sometimes you can even sell them for a profit and make even more money.
  5. Rayhan

    Rayhan Newbie

    Well Done Simrin, nice work by getting approved.

    The Capital One Savor One Cashback rewards credit card also offers some perks you may not be aware of.

    For example, the Capital One Savor will extend a manufacturers warranty by an addition year if you pay with the Capital One Savor One. Should the manufacturers warranty be rubbish and the protection is only available for 3 years of less then Capital One will cover the purchase.

    The cover includes the cost of repair or replacement of the item.
    The purchase of the item.
    The value charged to the Capital One Savor One Credit Card.
    You also get protection of up to $10.000 per item.

    There are some exclusions that apply such as vehicles, motorbikes, tires, plants, trees, pets. You can find
    more information on warranty protection on this link.

    So whenever you make a purchase where warranty is required use the Capital One Savor One and get real peace of mind. Hope this helps...
  6. Quentin

    Quentin Newbie

    Just wanted to chime in with some more perks that you might not be aware of! You really have to take advantage of every benefit on offer like I do.

    If you use the Vivid Seats cashback feature you should check out the Capital One Premium Access which gives you options for VIP events, popular concerts, and sporting events. You will also earn cash back bonuses for these events too.

    Some of the Premium Access events include the following...

    1. Capital One Jam Fest with Katy Perry
    2. iHeartRadio Music Festival
    3. NCAA Final Tour

    These are exclusive deals which are bought to Capital One Savor One users first so make sure you take advantage. You could offer to pay for other people and get the money later and earn Cashback rewards when you spend. I make a fair penny using this cashback strategy, it actually pays for a holiday at the end of the year! Nice One.
    Simrin, Alistair and Mike Baggaley like this.
  7. Mike Baggaley

    Mike Baggaley Newbie

    Really useful thread, thanks for sharing the ideas, will try Vivid Seats and Capital One Rewards.

    Just wanted to share another perk which I found to be beneficial...

    The Capital One Savor One actually offers secondary coverage for car rentals. Sometimes car rental companies charge an arm and a leg for car rental insurance. Just use this card to make the rental and you'll be covered for scratches, fender bender and other damages. I've saved a lot of money using this feature as I no longer pay for car rental insurance.
    Simrin and Alistair like this.
  8. Alistair

    Alistair Newbie

    Did you know that the Capital One Savor One cashback rewards credit card runs on the MasterCard World Elite Card system. So in a nutshell, all the benefits and features that apply for the MasterCard World Elite Card will also apply on the Capital One Savor One Cashback Rewards Credit Card.

    MasterCard World Elite Card Transferable Benefits

    1. If you take 5 or more Lyft Rides during a month you will earn a $10 Lyft Ride Credit. If you do use the Lyft Service a lot you can earn $120 in Lyft Credit every year.

    2. You can opt-in for the free ShopRunner 2-day shipping. You can really benefit from this if you actively shop online. You can get the ShopRunner 2-day shipping and returns at more than 140 stores such as Neiman Marcus, Saks Fifth Avenue and Cole Haan.

    3. Another Benefit is the World Elite Concierge and it's one of my favourite benefits. Go with the flow and let World Concierge Elite take care of dinner reservations, travel plans, last-minute festival tickets.

    Hope this helps you squeeze out more from your Capital One Savor One Credit Card Rewards...
    Simrin likes this.
  9. Simrin

    Simrin Newbie

    Thanks for sharing your set-up. Nice bit of cashback you've earned there.
  10. Simrin

    Simrin Newbie

    Wow! Really blown away by this strategy. Didn't know you could do this and I'm going to give it a try as 8% cashback on a $10,000 per month spend on Vivid Tickets would generate $800 in cashback per month.

    How do you know which tickets to buy on Vivid Seats and how do you sell them on for a profit? This is a genius strategy.
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