Capital One has released a new credit card, called the Savor Card, late last year. It has now been upgraded. The Capital One Savor Card will now earn you 4% back on dining and entertainment and comes with a $500 bonus. It also earn 2% cashback on groceries and 1% back on all other purchases.
Capital One Savor Card
The Capital Savor Card has been upgraded after first being launched with a $150 bonus and 3% earning on dining. The card offers unlimited cash back in standard categories like 2% back on groceries and 1% on all other purchases. But it’s the 4% cash back on dining that sets it apart from other cash-back rewards cards. And then there’s the signup bonus.
Over the past three years restaurant spending has grown 20% and grocery spending has grown 5%. While the emphasis on dining isn’t new, the card combines growth in that spending category with the preference for cash back over other rewards.
New Cardmember Offer Earn a one-time $500 cash bonus once you spend $3,000 on purchases within 3 months from account opening.
- Earn 4% cashback on dining and entertainment
- Earn 2% cashback on groceries
- Earn 1% cashback on all other purchases
There’s no limit to the cashback you can earn. Rewards don’t expire for the life of the account, and you can redeem cash back for any amount.
- No Foreign Transaction Fees
- Price Protection – Find a lower price within 120 days and you could be reimbursed for the price difference.
- Additional warranty protection at no charge on eligible items that are purchased with your credit card.
The Capital One Savor Card now has a $95 annual fee that is waived for the first year.
Capital One refunds the annual fee if you cancel within 30 days after the Annual Fee has posted. It’s possible to have the fee waived on Capital One cards, so call and ask when the fee is due.
Applying for the Card
The biggest issue with Capital One credit cards is that they do a hard pull on all three credit bureaus. You could freeze Experian or Transunion and they will still approve you with only two pulls.
Here’s some other restrictions that apply to Capital One cards:
- You’re limited to two personal Capital One branded cards.
- You’re limited to one new Capital One credit card every 6 months
With the upgrades this card becomes interesting for those who dine out and want cashback instead of miles and points. You get unlimited 4% cashback on all dining and entertainment purchases. The dining part is only matched by the Barclays Uber Card. You can still do better than 4% cash back through the Chase Sapphire Reserve card, which earns 3X Ultimate Rewards, but that card comes a hefty annual fee and not everyone can get it.
The increased signup bonus is a good one at $500 with a spending requirement of $3,000 in three months. The increase in the bonus also comes with an added annual fee of $95, which is waived the first year.
Is it worth it? Let us know your thoughts.
- Related Article: New Capital One SavorOne Card; $150 Bonus, 3% Back On Dining, And No Annual Fee
- Related article: Best Credit Cards For Restaurants