I receive compensation for many links on this blog. You don’t have to use these links, but I am grateful to you if you do. American Express, Citibank, Chase, Capital One and other banks are advertising partners of this site. Any opinions expressed in this post are my own, and have not been reviewed, approved, or endorsed by my advertising partners. I do not write about all credit cards that are available -- instead focusing on miles, points, and cash back (and currencies that can be converted into the same).
First of all, a no annual fee card with no foreign transaction fees is worth noting on its own. And that’s before we even get into rewards.
Earning on this new card is interesting, especially for a no fee card: Earn unlimited 3% cash back on dining, 2% on groceries and 1% on all other purchases.
And there’s even a signup bonus: Earn a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening.
As it stands you can earn more on your ‘other purchases’ just get the no annual fee Citi Double Cash Card. Where you really want to focus on Capital One® Savor℠ Cash Rewards Credit Card is restaurant spend.
It’s good for someone who prefers cash back over points. I’ll take Chase Sapphire Preferred‘s 2 points per dollar on travel and dining over 3% cash back since I value Chase points at 1.9 cents apiece and inpute a rebate value of 3.8% on dining to that card. But your own valuation may vary.
And the card stands out in your wallet:
This is issued also as a premium World Elite MasterCard which is unique for a no fee card, it gets you myriad travel benefits, free shoprunner, a concierge and more. There’s even car rental elite status.
It’s a great new option and a good niche, and as I wrote earlier I used to care that Capital One pulled all three major credit bureaus when applying for a card but the truth is that doesn’t worry me much anymore.