Capital One Financial Corporation has introduced Savor card, a new cash back credit card, which will reward the customers for food and dining purchases.
With no annual fee, the new card offers unlimited 3% cash back on dining, 2% on groceries, and 1% on all other purchases. It also allows the customers to earn a one-time $150 bonus when $500 is spent within the first three months of opening the account.
The firm has also added a free alert service that notifies unusual patterns such as double charges, a tip that is higher than that customer’s norm or a repeating charge that is higher than the previous month.
Furthermore, the Savor card also offers unlimited cash back points which do not expire for the life of the account; no minimums for cash back reward redemption, no rotating categories, and no complicated sign-ups and no foreign transaction fees.
The new card features contactless technology, which allows customers to make payments by “tapping” their cards in close proximity to contactless-enabled credit card terminals.
Capital One managing vice president of US card Emilia Lopez said: “When we asked people to share what matters most to them, we heard repeatedly that food and dining are an important part of their lives. We created the Savor card to give customers a simple way to earn more when they are doing what we know they love.
“Whether it’s cooking a meal with family, enjoying coffee with friends, or celebrating a special occasion at a favorite restaurant, the Savor card helps make life’s moments more rewarding.”