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Welcome bonuses are just not enough to convince customers to focus on one credit card and ignore the others for very long. They’re more the icing on the cake, the extra pep that causes you to break down and apply. If you can’t decide between 2 cards with similar benefits, choose the one with the better welcome bonus!
The true substance of a card is its ongoing benefits, though. Does the card have valuable perks that offset its annual fee? Can you earn rewards quickly and easily? Are the rewards even useful??
Capital One® Savor® Cash Rewards Credit Card, my friends. It’s a sleeping giant. The more I consider it, the more I realize how it integrates perfectly into the lifestyle of tons of people.
No joke, this could be the best card if you’re not interested in learning about how to use miles & points just yet. Because you get bonus cash back for such a gigantic portion of the money you spend every day.
The Capital One Savor Is a Cash Back Powerhouse
Apply Here: Capital One® Savor® Cash Rewards Credit Card
With the Capital One Savor, you earn 4% cash back on dining (basically ANYWHERE that serves food, including bakeries or bars). You earn 4% cash back on the broad category of entertainment (anything from zoos to bowling alleys to movie theaters to athletic fields). You earn 2% cash back on groceries (just about any grocery store or supermarket except Walmart and Target).
Oh yeah, it also comes with a $500 welcome bonus after spending $3,000 on purchases within the first 3 months of account opening.
Chase doesn’t have a card with earning rates like this. Citi doesn’t have a card with earning rates like this. They’d better retaliate with a similar card of their own, or they’re going to lose a lot of swipes to Capital One. Including mine.
This is going to sound ridiculous, but I love that the card doesn’t have a bonus on travel. Every card and its mother earns bonus rewards on travel, and they in turn water down the rest of their bonus categories. But the Capital One Savor skips the travel category, and focuses all the cash back in other areas.
There are plenty of travel credit card heartthrobs to choose from. And you should definitely have one of them to protect you from things like flight cancellations, delayed baggage, and when you inevitably crash your rental car.
But those cards are rarely the best choice for the lion’s share of your everyday expenses, like groceries.
Easy to Earn, Easy to Redeem
By the response we’re hearing from folks about the Capital One Savor, y’all have been waiting for a card like this for a while. No rotating categories you have to remember and opt-into. No confusing transfer partners.
True, it doesn’t earn points that you can use for a free award night at an amazing hotel. It earns something even more “valuable”: Straight up cash. You can use cash for a night at an amazing hotel if you like. Or you can use it to pay utilities or for an oil change or a new TV or a flight to Australia.
The Million Mile Secrets team brings this card up often. A lot of us intend to open the thing because its earnings are so great.
It comes with a $95 annual fee, waived the first year. So you can try it out for free one year and see if it’s actually worth paying the annual fee. But because this card possesses the bonus categories of a few different cards, this could be a good way to consolidate your wallet by getting rid of some of those cards and saving money on annual fees.
I wasn’t too hot on the Capital One Savor in the beginning, but I’m realizing how solid this card is for the vast majority of us. It scoops up the bulk of the spending most of us make every day. You’ll earn 4% cash back for dining and entertainment, 2% cash back at grocery stores, and 1% cash back on everything else.
I’ll definitely open it for a year and test it out. It comes with a $500 welcome bonus after meeting minimum spending requirements for cryin’ out sakes! And I spend an unbelievable amount of money in those bonus categories.
Hopefully other banks are having the same epiphany as I, and are scrambling to answer with a card of their own. I’ll gladly give them all a test drive if they come with an equally generous welcome bonus!