There are competing philosophies around credit card rewards portfolios. For those who want the “set it and forget it” method, the Citi Double Cash Card is probably the best solution. You get 2% on every purchase. No bonus multipliers or quarterly promotions to worry about. You may not always get the single best reward available, but you’ll do pretty well across the board. But some us who like to have different cards for different types of purchases. It’s a bit more hassle, but you can take advantage of bonus categories, based on the card.
Savor Rewards from Capital One: 4% at Restaurants
Credit cards often give you bonus multipliers on categories that you use frequently, such as gas or supermarkets. They hope that it will get you in the habit of reaching for their card.
There are a few cards that offer big bucks back on dining, including some new players in the market, such as the Uber Visa. My newest card, though, is the Capital One Savor card. It offers many of the same perks as its competitors, but it comes with a rock star sign-up bonus. In particular:
- There’s a $500 cash bonus if you spend $3,000 within the first three months of opening the card.* Even if that’s all you ever spend, that’s still a pretty good return.
- Yes, there is an annual fee on the card, which Uber doesn’t have. That fee is waived, however, for the first year.
- You get a free year of “Postmates Unlimited,” one of the many delivery services out there. Unlimited gets a lot of the fees waived. The downside is that you’ll need to cancel manually after the year is over. While my experiences with Postmates have been good, you’ll have no trouble finding complaints about them on the internet (including the fact that they frequently charge above menu prices for restaurants).
- Added bonus: I generally find Capital One’s customer service to be excellent.
Overall, for those of you who find dining out (or dining in, including delivery) to be a large part of your overall budget, this card is a winner.
One final note: As you probably know, getting a credit card through my site generates a commission. All commissions through my site are donated to charity, so when you get a card through my link, you are doing well by doing good.
*Beginner’s Hint: I get occasional questions about the spend requirements. To be clear, you have to spend $3,000 in total over the first three months, not $3,000 per month.
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And finally, you can apply for credit cards through the Credit Cards for Charity link above. All card proceeds are donated to charity, so please do well by doing good!