Savor vs SavorOne

SoCalifornia · ‎09-02-2021

After getting my 'post pandemic' utilization at a reasonable percentage and seeing it decline I'm finally using credit again to ramp up usage and move credit limit increases. Being able to see cashback once again is nice and the 3% on the SavorOne is decent. For those with the Savor, do you see a significant return and how offset is it by the $95 annual fee with regular usage. Is the extra 1% worth the annual fee?

Anonymous · ‎09-02-2021

You'll come out on top with the Savor card only if you spend more than $9,500 per year in 4% categories. If you expect to spend less than $9,500, SavorOne is the way to go. You get this result by dividing the $95 annual fee by the difference in the top cash back rates (1%): $95 / 0.01 = $9,500. Another way to show this is illustrated below.

SavorOne: $9,500 * 3% = $285 cash back

Savor: $9,500 * 4% = $380 - $95 annual fee = $285 cash back

Every $100 dollars spent on the Savor card in the 4% category after $9,500 will net you an extra $1 cash back in excess of what you'd get from the SavorOne card. But below $9,500, you're still working to "pay off" the $95 annual fee.

SoCalifornia · ‎09-02-2021

Thanks. I have seen this breakdown before. Guess I could have just looked it up.

Anonymous · ‎09-02-2021

I prefer the savor one. I have multiple credit cards that get my spend and having to pay an annual fee for 1% more isn't in my best interest. However it could be others if they spend most of their money in those categories.

Anonymous · ‎09-02-2021

This isn't something that can be answered by anyone except yourself. Do the 7th grade algebra and see if you spend enough in the categories to make up for the annual fee. Everyone has different spend so even if someone does have a significant return to offset the annual fee, that doesn't mean that you will have the same significant return.

SoCalifornia · ‎09-02-2021

You know, this forum used to be a good place to come, socially discuss credit and see peoples opinions and inputs. Lately it has been snarky comments and little feedback. That's a shame. Thanks, I realize I was should have done the 7th grade algebra. How foolish of me.

SoCalifornia · ‎09-02-2021

@Anonymous wrote:
I prefer the savor one. I have multiple credit cards that get my spend and having to pay an annual fee for 1% more isn't in my best interest. However it could be others if they spend most of their money in those categories.

Thank you. I appreciate your feedback.

Anonymous · ‎09-02-2021

@SoCalifornia wrote:
You know, this forum used to be a good place to come, socially discuss credit and see peoples opinions and inputs. Lately it has been snarky comments and little feedback. That's a shame. Thanks, I realize I was should have done the 7th grade algebra. How foolish of me.

Why the tone might not have been what you want, it IS actually worthwhile to know how to do these (in reality trivial) calculations. We see a lot of posts asking similar questions about a range of pairs, and there is very rarely any complexity above the simple concept "how much spend do I need before excess reward exceeds [greater[ annual fee"

ChargedUp · ‎09-02-2021

I have the Savor MC and while it is only 1% better than the no fee version, the dining category does cover a wide array of purchases from Jamba Juice to door dash to Dunkin Donuts to Lawry's Prime Rib. Entertainment covers bowling to Dodgers tickets to Universal Studios entry to the San Diego Zoo and even some of the kids online games (this is very YMMV though). Having a large family makes it pretty easy to overcome the AF ($700+ just to walk through the Disneyland gates!), but as said above, it all depends on your spend on the above categories.