Capital One’s New Savor Card Compared to Other Lunch Bonus Cards
Capital One has updated the rewards on its Savor card, and the new offerings will appeal to people who eat out a lot or spend a lot at the grocery store (and given that food is the average American’s third-highest expense , that’s a lot of us).
The card debuted in October 2017 and offered three percent cashback when dining out, two percent at the grocery store, and one percent back on all other purchases. The new card gives you back four percent on restaurants and entertainment (including movies and concerts), two percent on groceries, and one percent on everything else. In addition, there are no foreign transaction fees, and the annual interest rate ranges from 16.24% to 25.24%.
“If you regularly visit new restaurants or have a large family enjoying a night out in the city , then Savor’s four percent cash back on food and entertainment can be huge savings,” says Joe Cortez, NerdWallet. Expert in Credit Cards and Rewards.
Shopping at restaurants and entertainment that will earn you 4% cashback includes restaurants, eateries, cafes, bars, amusement parks, live performances, sporting events, tourist attractions and cinemas, among others.
Capital One also introduced the free SavorOne card. This card gives you three percent on lunch, two percent at the grocery store, and one percent on everything else. Right now, it is offering a $ 150 bonus if you spend $ 500 in the first three months.
You can compare it to Uber’s new credit card , which pays four percent on meals, plus three percent on travel expenses such as room and airfare, and two percent on online purchases.
There is one problem: there is a $ 95 fee for the Savor card (it was canceled in the first year and Capital One told Marketwatch that current cardholders would be upgraded to new offers but would not pay an annual fee), whereas Uber did not . … But it also gives you two percent back at grocery stores. Plus, it gives you a $ 500 cash bonus if you spend $ 3,000 in the first three months, while the Uber card bonus is $ 100. So that’s four years of annual payments in advance.
Other cards with decent lunch rewards include the Chase Sapphire Reserve , which gives you three points for every dollar you spend on lunch, but with an annual fee of $ 450; the Costco Anywhere Card, which entitles you to a 3% discount on meals; and the PNC Cash Rewards Card, which gives you three percent on lunch and two percent on groceries.
As always, you should only apply if you have good credit standing and can pay your bill every month .