Update (August 14, 2018): Card has been significantly upgraded. Please see this post for updated information.
Captital One announced today a new credit card called the Capital One Savor card aimed at dining aficionados. A similar card called the Premier Dining Rewards launched back in March, and they’ve now rebranded to Savor, upped the signup bonus from $100 to $150, and a few other changes like contactless payments.
Capital One Savor Card
The Capital One Savor card earns the following rewards rates with no earnings limit:
- 3% cashback on dining
- 2% cashback on groceries
- 1% cashback everywhere else
Card comes with the following signup bonus:
- Get $150 when you spend $500 within three months from account opening
Fees
- No annual fee
- 0% APR for the first 9 months
- Seems that the card has no foreign transaction fee
Our Verdict
Most of are readers will give this card a pass. There are better signup bonuses out there, even better cash signup bonuses,and the earnings rate isn’t exciting either.
We’ll assume everyone has a card that earns 2% or more on all purchases, making this card only useful for dining. 3% cashback on dining can be nice, especially for someone who prefers cashback over points, but I’d guess most of our readers either have a card that earns 2.5-3% everywhere or have a card which earns bonus points on dining like the CSR which earns 3x on dining (worth a minimum of 3%).
Might be worthwhile as a product-change (if they allow that) for someone who dines out a lot and doesn’t have a card earning 3%. Could also make sense as a no-fee international card, especially for someone who dines out a lot outside the USA.
It’s interesting they made this one a World Elite Mastercard, and they specify it’s for someone with excellent credit, while it seems more targeted to basic consumers with no annual fee and simple cashback earnings. If you are interested in applying, check out these Things to Know about Capital One Credit Cards before applying.
Let us know your thoughts in the comments below.
