Capital One is looking to serve up some generous rewards on people who love to dine out with its new Capital One Premier Dining Rewards Credit Card. Cardholders can look forward to 3% cash back on dining, no annual fee, a $100 intro bonus and much more. We’ve got the full scoop on the perks and benefits this card has to offer, along with the information you need to decide if it’s a rewards credit card worth applying for.
What perks will Capital One Premier Dining Rewards Credit Card customers get?
There’s no need to worry about activating cash back or waiting for rotating categories that match your spending habits with this credit card. Instead, you’ll be able to enjoy unlimited cash back rewards, starting with unlimited 3% cash back on dining, 2% cash back on groceries and finally, 1% cash back on all other purchases. Your earned rewards don’t expire, and you can redeem them for any amount, anytime, in the form of a statement credit or direct deposit to your bank account, as a charitable donation or for gift cards. In addition to these generous ongoing rewards, new cardholders can also earn a $100 cash bonus by spending $500 on purchases within 3 months of approval. Add to this a $0 annual fee, no foreign transaction fees and a host of great features and benefits available to you, and you have a pretty well-rounded cash back credit card that’s sure to please people who make eating out a priority or habit.
The aforementioned features and benefits include World Elite Mastercard benefits to take advantage of at home as well as when you travel. When you’re away from home, you can rely on travel protection to reimburse you up to $1,500 per trip for nonrefundable expenses in the event your trip is cancelled or cut short by sickness or injury, as well as 24-hour concierge service for assistance booking travel and dining reservations and travel upgrades such as complimentary room upgrades. When you make a purchase with your Capital One Premier Dining Rewards Credit Card, you’ll get an extended warranty as well as price protection, which will reimburse you the difference if you find the same item at a lower price within 60 days of purchase. Finally, identity theft services, fraud protection and security alerts help you keep on top of any potential issues if your card should be stolen or misused.
What else do I need to know about this credit card?
While the unlimited earning potential and other perks for this card are impressive, some people may be turned off by the APR for purchases and balance transfers, which sit slightly higher than other cash back credit cards (visit our Capital One Premier Dining Rewards Credit Card review to see the current rates). Although there is no balance transfer fee, something we don’t see too often, the lack of a 0% intro APR period doesn’t make this an ideal credit card for someone looking to do a balance transfer or make a large purchase and pay it down over time. Another potential downside to this credit card is that it’s only available to applicants with excellent credit. Not sure if Capital One Premier Dining Rewards Credit Card is for you? Here are a couple of alternative rewards to consider instead.
If you’re looking for an alternative card that offers similar rewards and a 0% APR period, we recommend the Wells Fargo Propel American Express Card. This card offers a 20,000 point (equal to $200!!) intro bonus after spending $1,000 in the first 3 months. It also earns cardholders 3 points for each $1 spent at U.S. gas stations, 2 points per $1 spent at U.S. restaurants and 1 point per $1 spent on everything else. In addition, Wells Fargo bank account owners can earn an ongoing, annual 10% relationship bonus on all non-bonus rewards points they earn, which is pretty enticing. On top of that, new cardholders can enjoy 0% intro APR for the first 12 months on both purchases and balance transfers. There is an intro balance transfer fee of 3% the first 12 months (afterward it’s 5%), but you won’t pay an annual fee, and card members who pay their monthly cell phone bill with their card can get up to $600 reimbursed against covered damage or theft (with a $25 deductible).
Those who have less-than-perfect credit and are looking for a new rewards card, may be pleased with the Discover it – Cashback Match. This card is available to applicants with excellent, good or average credit (typically defined as a credit score of 670 or higher), and it offers 5% cash back in quarterly rotating categories (up to the current $1,500 quarterly maximum, then it’s 1%) as well as 1% on all other purchases. Although you do have to make sure you log in and activate each quarter to receive 5% cash back, Discover makes it easy to remember with the ability to set up alerts. Additionally, new cardholders are eligible for the cashback match bonus, which will match all the cashback rewards you earn in your first year at the end of the year. Depending on how much you earn, this could work out to be a substantial bonus. Rounding out Discover it – Cashback Match are no annual fee and 14 months of 0% intro APR on purchases and balance transfers. There is a 3% balance transfer fee per transfer, but you won’t pay foreign transaction fees.
Is the Capital One Premier Dining Rewards Credit Card right for you?
If you’re someone who dines out often, the Capital One Premier Dining Rewards Credit Card is likely a good addition to your wallet. Just remember that you’ll want to pay the card off every month to avoid interest since there’s no 0% intro APR period. Read our brand new Capital One Premier Dining Rewards Credit Card review to learn more about this card, and visit our reviews of the best credit cards to see how it stacks up to other cards on the market.
Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.