By Joe Radtke
Yesterday Capital One announced upgrades to its Savor Card, which now offers the highest year-round dining and entertainment cashback percentages seen in the industry with 4% back on dining (restaurants, fast-food, coffee shops) and entertainment (bars, amusement parks, movies, concerts, sporting events, tourist attractions).
The initial launch of the Savor card was last October and offered 3% cash back on dining, 2% on grocery purchases and 1% on all other spending. The new card offers:
- 4% back on dining including: restaurants, fast-food and coffee shops
- 4% back on entertainment including: bars, amusement parks, movies, concerts, sporting events and tourist attractions
- 2% back groceries
- 1% back on all other spending
- No foreign transaction fees
- Variable APR of 16.24%-25.24%
The new card has a $95 annual fee which is waived in the first year for new cardholders. Existing cardholders will be transitioned to the new offering, but won’t pay the annual fee. New cardholders can earn a $500 cash bonus after spending $3,000 in the first 3 months.
Competiscan observed the first email communication from Capital One targeted to existing Savor cardholders announcing the upgraded rewards.
Competiscan clients can view the email communication here.
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