There are a couple of great cash back credit cards right now, but what if we told that one of them, recently launch, is aimed especially at those who spend a lot on food?
Capital One’s Savor card offers unlimited cash back in standard categories, including 2% back for the groceries you make, as well as 1% on any other purchases. However, what helps it differentiate from other similar cards is the 3% you get back on dining!
People are more and more concerned about what they’re eating
“The passion for food as a shared experience is very important to people,” says vice president of U.S. Card at Capital One, Mark Mattern.
This card comes as a result of the trend observed in the last three years. Specifically, the restaurant spending managed to grow with up to 20%, while grocery spending is up with 5%.
The same Mark Mattern reveals that nowadays, dining and food are two categories which play a larger role in people’s lives. With the new Capital One Savor card, they will definitely receive something back.
Of course, the emphasis on this isn’t completely new, but the card manages to combine the growth in the spending category with people’s increasing preference for cash back over other rewards.
“Issuers are becoming more aware that what people really want in their card is cash back,” says senior industry analyst at CreditCards.com, Matt Schulz. “Part of what makes cash back so great is that it is flexible and you don’t have to worry about black-out dates or restrictions,” he added.
No fees and a bonus! What can you want more?
Back to the card, it doesn’t have an annual fee and offers a one-time bonus of $150, but only if you manage to spend $500 in the first three months after opening the account. And there’s even more, since it doesn’t have any rotating categories, no foreign transaction fees, while earnings don’t expire for the life of the account.
So, what do you say? Is this the best cash back credit card for foodies or what?
