Capital One Savor Cash Rewards Credit CardA cash back rewards credit card can be one of the most valuable financial tools in your wallet, especially during the buzz of the holiday season when you’re running back and forth from place to place, spending money as you go. If you’re someone who likes to eat out a lot or finds themselves constantly up and down the aisles of your local grocery store, then the new Capital One Savor Cash Rewards Credit Card might be your perfect pick. This credit card earns unlimited 3% cash back on dining, 2% cash back on groceries and 1% cash back on everything else, and it’s got plenty of other perks like 9 months of 0% intro APRno annual fee and a $150 cash back bonus offer that you’re sure to love. Keep reading as we dig into the details on this new Capital One credit card and help you decide if it’s right for you.

Capital One Savor Cash Rewards Credit Card
  • Earn unlimited 3% cash back on dining
  • Earn unlimited 2% cash back on groceries
  • Earn 1% on all other purchases
  • Spend $500 on purchases in the first 3 months and earn a one-time $150 bonus
  • Get a 9-month 0% intro APR on purchases and balance transfers (with a 3% balance transfer fee)
  • No annual fee
  • No foreign transaction fees
  • Cash back earned does not expire for the life of your account, and you can redeem it for any amount at any time

What makes the Capital One Savor Cash Rewards Credit Card stand out?

As we’ve already indicated, this credit card rewards you for dining out and buying groceries, two purchase categories that are quite popular among many Americans. Cardholders will earn an unlimited 3% cash back on dining out and an unlimited 2% cash back on groceries. Every purchase outside those categories earns an unlimited 1% cash back. When you consider that most cash back credit cards put quarterly or yearly caps on such categories, this card becomes an even more attractive option. Your rewards do not expire for the life of your Capital One account, and you don’t have to meet any minimums to redeem them for a statement credit, gift card or check. If all of that wasn’t incentive enough, Capital One Savor Cash Rewards Credit Card members who spend $500 within the first 3 months of owning their new card will get a one-time $150 cash back bonus.

Other notable perks of this card include a 9-month 0% intro APR on purchases and balance transfers (with a 3% balance transfer fee), no annual fee or foreign transaction fees, as well as an array of helpful benefits, including extended warranty protection, price protection on items purchased with the card, travel protection and a complimentary concierge service. Also helpful for cardholders is the Second Look alert service, a free service from Capital One which will send an alert if unusual patterns are identified, such as double charges or a repeating payment which is higher than previous months. Finally, this card utilizes “contactless” technology, which enables payments at contactless-enabled credit card terminals with a simple tap of your credit card.

Are there other cash back rewards cards like it out there?

It’s important to note that while the Capital One Savor Cash Rewards Credit Card certainly offers plenty to be excited about, there are also a couple of potential drawbacks. Specifically, this card is available to applicants with good to excellent credit (typically considered a credit score of 700 or higher) and it’s 0% intro APR period isn’t stellar. If either is a deal-breaker for you, consider one of these cash back credit cards instead:

Capital One Savor Cash Rewards Credit CardWhile it doesn’t offer unlimited cash back on groceries, the Blue Cash Preferred Card from American Express (a NextAdvisor advertiser) does earn a hefty 6% cash back on purchases at U.S. supermarkets (up to $6,000/year on purchases, then it’s 1%). Cardholders also get unlimited 3% cash back at U.S. gas stations and select U.S. department stores, and 1% on everything else. Spending $1,000 on purchases within the first 3 months of owning this card will earn you a $200 intro bonus, and there is also a 0% intro APR on both purchases and balance transfers for the first 12 months (note that there is a $5 or 3% balance transfer fee). Although you will have to pay an annual fee of $95 with this card, it is available to applicants with good to excellent credit.

Prefer not to pay an annual fee? Consider the Blue Cash Everyday Card from American Express, which offers similar benefits but charges no annual fee.

Capital One Savor Cash Rewards Credit CardAnother alternative is Chase Freedom Unlimited, which is available to those with good to excellent credit. Unlike the other cards we discuss in this post, this one earns a flat 1.5% cash back rate on all purchases. You’ll also get a $150 cash back bonus after spending $500 on purchases in the first 3 months, as well as a $25 bonus when you add your first authorized user and make a purchase in the same time period. This card features no annual fee and a 15-month 0% intro APR on purchases and balance transfers, though note that there is a balance transfer fee of $5 or 5% of the total amount transferred, whichever is greater.

Capital One Savor Cash Rewards Credit CardIf your credit has more than a couple dings, Discover it – Cashback Match is a solid choice, as it is available to people with average to excellent credit (typically considered a credit score of 670 or higher). Discover it cardholders earn 5% cash back on categories like restaurants, ground transportation, home improvement stores and more, which rotate on a quarterly basis. You can earn the 5% on purchases up to the quarterly limit (currently $1,500), after which all purchases earn the standard 1% cash back. This quarter’s cash back categories are Amazon.com and Target, which are perfect for the holidays! While you do have to activate each quarter to receive 5%, Discover makes this easy to remember with helpful reminder emails. What’s more, Discover will match all of the cash back you’ve earned at the end of your first year as a cardholder — this means if you earn $500 in the first year, Discover will match that and give you a total of $1,000 back! Other highlights of this card include no annual fee, no foreign transaction fees, a plethora of helpful perks from Discover and 0% intro APR for 14 months on both purchases and balance transfers. There is a balance transfer fee of 3% per transfer associated with this card.

Should you apply for the Capital One Savor Cash Rewards Credit Card?

Bottom line, the Capital One Savor Cash Rewards Credit Card is a smart choice for people with good to excellent credit who want to earn cash back on their food-related purchases. When you add in the $150 intro bonus opportunity, 9-month 0% intro APR on purchases and balance transfers (with a 3% balance transfer fee), no annual fee and no foreign transaction fees, it’s a well-rounded card. Visit our review of the Capital One Savor Cash Rewards Credit Card to learn more and apply online, or check out our reviews of the best cash back credit cards to see how it compares to other cash back credit cards.

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.