Capital One Savor Serves Up a Smaller Sign-Up Bonus

» Offer details have changed

Offer terms on the Capital One Savor Cash Rewards Credit Card have changed, so this article may be out of date. See our best new cardholder bonus offers for other options.

The Capital One Savor Cash Rewards Credit Card has lost a bit of its kick.

As of May 21, the card is offering a smaller sign-up bonus for new cardholders: Earn a one-time $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening..

Previously, the offer was $500 for the same amount of spending in the same time frame, which was among the most lucrative sign-up bonuses available for a cash-back credit card. The new offer is still more than you'll find from most competitors, whose sign-up bonuses typically top out around $150 to $200. But unlike many of those cards, the Capital One Savor Cash Rewards Credit Card charges an annual fee that must be factored in: $95.

» MORE: Full review of the Capital One Savor Cash Rewards Credit Card

Still, foodies will earn top rewards in the same categories:

• 4% cash back on dining and entertainment.

• 2% cash back at grocery stores.

• 1% cash back on all other purchases.

For those who can’t stomach an annual fee, the Capital One SavorOne Cash Rewards Credit Card may be a better choice. It has a $0 annual fee and a modest sign-up bonus: Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening.. It earns 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases.

» MORE: NerdWallet's best cash-back credit cards