New: 4% Cash Back on Dining Plus $500 Reward

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Card companies are talking less about ‘millenials’ and more about the ‘new affluent’ — consumers they want to attract to their products, with strong incomes to spend and a long future time horizon during which to spend them. The demographic strongly favors experiences over things. So designing a product for this market is an increasingly competitive space.

Capital One has upped its game to compete for customers who eat out and do things. The Capital One® Savor® Cash Rewards Credit Card has re-launched. What was a good dining card is now even stronger and with a big initial bonus offer.

New cardmembers can receive a $500 bonus after $3000 spend within 3 months of account opening. The card’s $95 annual fee is actually $0 the first year (which is when you’re earning the bonus, of course). And earning on the card is 4% back on dining and entertainment, 2% at grocery stores, and 1% everywhere else. What’s more the bonus categories allow for unlimited cash back, this isn’t ‘on the first $x worth of spend each year’ the way some cards limit you. And there are no minimums for redeeming your cash back.


Kyoten Sushio, Austin

While the Uber Visa has 4% back on restaurants there’s no other card offering anything close on entertainment spend.

The entertainment category here is interesting. It includes things like movies, concerts, theater, and sporting events. I’ve had some readers report that their favorite wine club comes up as entertainment, that’s always an interesting quirk of how any given merchant’s credit card charges get coded.

The Capital One® Savor® Cash Rewards Credit Card also comes with “exclusive access and ..curated experiences and ticket presale opportunities” for dining, entertainment, and sports events. It’s a dining and entertainment card so it’s not just a higher cash rebate card for those categories, they’ll be making experiences in those bonus categories available to cardholders as well.

Capital One will still have a no annual fee version of this card, Capital One® SavorOneSM Cash Rewards Credit Card offers 3% cash back on dining and entertainment, 2% at grocery stores and 1% everywhere else. It has no foreign transaction fees, which is a nice perk on a no annual fee card. The initial bonus is $150 in cash back after $500 in purchases during the first three months from account open. However Capital One® SavorOneSM Cash Rewards Credit Card won’t come with the experience and presale access in dining and entertainment that the premium version fo the card has.


Smitty’s Market, Lockhart Texas

Existing Savor cardholders get upgraded to the new 4% cash back level for dining and entertainment — and get to keep their no annual fee.

Ultimately I’m going to value bonusing dining spend in points that transfer to miles more highly than 4% cash back but that’s largely because I’m also looking to spend my points for premium cabin international redemptions. This is a great new cash back tool for folks who spend heavily in dining and entertainment.

Capital One® Savor® Cash Rewards Credit Card

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Editorial note: any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Comments made in response to this post are not provided or commissioned nor have they been reviewed, approved, or otherwise endorsed by any bank. It is not the responsibility of any advertiser to ensure that questions are answered, either. Terms and limitations apply to all offers.

Comments

  1. Does CapitalOne still pull all three major credit reports upon application? Been years since I last applied for a card with them (back in the 100,000 Venture Miles for doing diddly squat days) so I don’t know anymore. $500 is $500, so I’m curious.

  2. Do these Savor cash-back ‘points’ work the same way (redemption-wise) as my Cap One Venture points do? Can/will they be combined with my Venture points balance?

  3. @AZTravelGuy i believe they do, though i’m far less concerned with that these days as i don’t really have the opportunity to push my score to the limit

  4. Are Capital One cards still difficult to get approved for if you’ve opened up many cards? I’m currently at 15/24. I applied for the Spark Business card earlier this year when I was more like 23-24/24 and was denied.

  5. It appears that the Citi Thank you premier card offers 3 TY points per $ for entertainment which equals at least $.0375 when used to buy travel – or about $.06 when transferring the points to an airline or hotel. Currently the TY card has a 60,000 point sign-up bonus and no fee for the first year.

    Why bother with Capital One?

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