Capital One’s New No Annual Fee 3% Cashback Dining Card

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There’s a new credit card in the market that may be interesting to those who spend a lot on dining. Meet the new Capital One Savor Card, which has no annual fee and offers 3% cashback on dining, 2% cashback on groceries, and 1% cashback on everything else.

The card has no annual fee, and is even offering a sign-up bonus of $150 cashback after spending $500 on purchases within three months of account opening, which is a nice sign-up bonus for a no annual fee card.

3% cashback on dining for a no annual fee card is a really good return, in my opinion. You can hold onto the card long term and use it mostly for dining. Personally this isn’t a card I’d use much for other categories. If it’s cashback on everyday purchases you’re after, the Citi® Double Cash Card would be a better bet for most other purchases, as it offers 1% cashback on purchases, and another 1% cashback when you pay for those purchases. So for anything other than dining, that card would be at least as good (and it also doesn’t have an annual fee).

For someone who spends a lot on dining, the Capital One Savor Card is compelling. I don’t know of a no annual fee card that consistently offers a better return on dining without caps.

If you’re interested in earning points rather than cashback, there are also quite a few cards that offer bonus points on dining, including the following popular cards:

Personally I value all those points currencies at 1.5 cents each or more, meaning they all offer a return of 3%+ using my valuations. However, all those cards have annual fees, and there’s also more skill required to use those cards than just a plain cashback card, which is why I think cashback cards are a better option for most.

Lastly, while it’s not something I personally value, the Capital One Savor Card is offering 0% intro APR for nine months, and then variable 15.49-24.49% APR after that. There’s a 3% fee on amounts transferred within the first nine months. So it’s something that some may value, though it wouldn’t be my primary consideration in getting this card.

Bottom line

The Capital One Savor Card is a fantastic new option. Earning 3% cashback on dining without limits on dining is a great return, especially for a no annual fee card that even has a sign-up bonus. If you’re someone who doesn’t like the complexity of dealing with points and spend a lot on dining (or if you know someone like that), then this card is seriously worth considering.

It’s also nice to see when issuers introduce new niche cards that add value, like this one.

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Comments

  1. But all Chase no fee cards have 3% FTF – that is important to many who travel internationally.

    Worth to mention is TD Bank has an identical card, same sign up bonus same earning same no AF and no FTF.

    It is nice to see now some banks have stepped up the plate to offer no FTF to their no AF cards that also have decent category bonus earnings.

  2. Citi Costco visa is 3% back on dining also (and 4% on gas) but of course you have to have a Costco membership.

  3. Any idea if Capital One has implemented a rule similar to Chase’s 5/24? I was just declined, despite a high credit score and no debt. I’ve opened 8 accounts in the last 2 years though…

  4. This is not a new card. The card launched in March 2017. It was called Premier Dining Rewards. They changed the name, increased the signup bonus, and added a 0% intro APR and contactless payment.

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