Capital One launched the new Savor credit card, targeting people who spend a good deal of their money on food. The card will give you cash back in 3 tiers: 3% on dining, 2% on groceries, and 1% on everything else. Upon sign up, you’ll have the chance to earn a $150 cash bonus after spending $500 in the first 3 months. And since it comes as a World Elite MasterCard, you’ll receive a lot of additional perks and insurance coverage.
Verdict: If you spend a lot on dining, want a card with no annual fee, and prefer cash back over points, then this is a great new option for you. That said, if your goal is to travel more while paying less, points-based cards that have transfer partners will still give you better options.