Capital One® Launches The Savor(SM) Card, A New Cash Back Card That Rewards People For Food And Dining Purchases
"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," said
Data supports the growing emphasis people are placing on food spend. According to the Mastercard SpendingPulse™ Report, over the last three years, consumer spending has grown in both the restaurant (20%) and grocery (5%) categories. Specifically, restaurant spending has increased by
The Savor card was developed with
Features of the Savor card from
- Unlimited 3% cash back on dining, 2% on groceries, and 1% on all other purchases, every day
- No annual fee
- Enjoy a one-time
$150bonus when you spend $500in the first three months of opening the account
- Earn unlimited cash back that doesn't expire for the life of the account
- No minimums for cash back reward redemption, no rotating categories, and no complicated sign-ups
- No foreign transaction fees, like all other
- The Savor card also comes with contactless technology, which allows people to make payments by "tapping" their cards in close proximity to contactless-enabled credit card terminals
Additional data from the Mastercard SpendingPulse Report:
- Overall restaurant sales have been one of the leading areas of spending growth across retail and food services over the past several years.
- Since 2014, annual grocery sales have increased by approximately
- Over the past three years, fast casual restaurants have experienced a growth of over 36%.
- Restaurant sales have significantly outpaced overall retail sales growth over the past decade. Specially, over the past 10 years, restaurant sales have increased by over 59%.
- Year-over-Year growth for family and fine dining has picked up over the past quarter (Q2 2017).
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (
About MasterCard SpendingPulse™
Launched in 2006 by
View original content with multimedia:http://www.prnewswire.com/news-releases/capital-one-launches-the-savorsm-card-a-new-cash-back-card-that-rewards-people-for-food-and-dining-purchases-300537657.html
Meredith Reilly, Meredith.Reilly @capitalone.com, (703) 483-1490