New card earns 3% back on dining

9

Update: The offer discussed in this post is no longer available. Please see our Best Offers page for current offer information.

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Capital One has released a brand new credit card called the Capital One® Savor® Cash Rewards Credit Card. This new offering yields 4% back on dining and 2% back on groceries as well as $150 back after you spend $500 in the first 3 months, which might just whet your appetite. It’s also worth noting that this is a World Elite Mastercard, which is a nice benefit for a no-fee card.

 

The Offer

Key Card Details

Capital One Savor

FM Mini Review: Excellent cash back card for dining and entertainment spend.


Annual Fee: $95

Card Type: Mastercard

Base
1%
Dine
4%
Grocery
2%
Other
4%

Earning rate: 4% cash back on dining and entertainment ⚬ 2% at grocery stores ⚬ 8% back on tickets at Vivid Seats through May 2020 ⚬ 1% everywhere else ⚬ Through 1/31/21: 5% Uber Eats.

Noteworthy perks: No foreign transaction fees

Quick Thoughts

The Capital One Savor card is offering a decent signup bonus proportionally speaking ($150 back on $500 spend). While there are other cards that offer a more compelling return on dining and groceries in terms of rewards points, this card likely appeals to those who prefer cash and simplicity over transferable currencies and rotating categories. With holiday shopping coming up, it would be very easy for many people to reach the minimum spend over the next three months. Getting $150 back on some of that shopping has its appeal.

Furthermore, this one is a World Elite Mastercard, meaning that you get access to some nice benefits — including a year of National Executive Status, which is far and away my favorite car rental elite status. I’ve been enjoying that status for the past few years thanks to my Business Platinum card, but that card carries a hefty annual fee. Getting Executive Status with no annual fee is a great deal if you don’t otherwise have access to it. And that’s not all — World Elite Mastercards provide extended warranty coverage, concierge services, etc. Those benefits usually come at the cost of an annual fee, making the Savor card an interesting option for maintaining those benefits year after year without a fee. At the very least, the Savor card reduces the relative value of other World Elite Mastercards by providing an option to get similar benefits for free.

Keep in mind the fact that there are other options in the cash back space. For instance, you could earn an effective 2% back everywhere with no annual fee with the Citi Double Cash (1% on purchases + 1% on payment). You could earn 3% back everywhere for the first year (2.5% thereafter) with the Alliant Cashback Visa Signature card. However, the Double Cash has no signup bonus and the Alliant card has an annual fee. Life is full of trade-offs, and for some the Savor Card will make the right trades to be enticing.

We’ve added this card to our Best Offers page.

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