Why the Capital One Savor Replaces the Amex Gold as My New Favorite Grocery Card

The American Express^® Gold Card has long been my preferred way to pay for groceries, and I have no doubt that it serves as a go-to for many others as well.

Earning 4x points at U.S. supermarkets on up to $25,000 in annual purchases (then 1x points beyond that) is a rare but valuable perk — there’s no denying that. Even with its $325 annual fee (rates & fees), I’ve easily earned more in rewards for travel worth more than this ongoing cost.

That said, I started to question whether keeping the Amex Gold card is truly worth it after the issuer increased the annual fee this summer from $250 to $325. Although Amex did add more credits to supposedly justify this higher sticker price, it made me wonder if I were really willing to go out of my way to use these perks at a higher annual cost.

I explored alternatives to the Amex Gold card, and the Capital One Savor Cash Rewards Credit Card*×Information collected independently. Not reviewed by Capital One. stood out as an ideal replacement — here are the main reasons why.

1. Save Money on the Annual Fee

Let’s start with the obvious. The Capital One Savor card is a $0-annual-fee card (rates & fees), meaning I can save $325 right away by switching from the Amex Gold card.

This reason alone is moving me to apply for the Capital One Savor card instead, which doesn’t charge an annual fee to carry in your wallet.

That said, even with the Amex Gold card’s annual fee increase, it’s still easy for many households to justify keeping this card. You would need to spend roughly $3,700 per year at U.S. supermarkets to break even on the $325 annual fee. You’d earn close to 15,000 points, which we value at 2.2 cents each — equating to nearly $330 in rewards.

I spend nearly triple that amount annually on groceries for my partner and me, so the rewards on the Amex Gold card are incredibly generous. But there are caveats to earning 4x points at U.S. supermarkets, as you’ll learn below.

2. Earn 3x Points on Groceries

Before we dive in, here’s a quick look at the Capital One Savor card’s rewards potential:

• Earn 8% cash-back on Capital One Entertainment purchases.
• Earn 5% cash-back on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options.
• Earn 3% cash-back at grocery stores (excluding superstores like Walmart and Target), on dining, entertainment, and popular streaming services.

While it’s a cash-back card, but it’s easy to turn the rewards into valuable Capital One miles for travel. By having an eligible Venture card, such as the Capital One Venture X Rewards Credit Card*×Information collected independently. Not reviewed by Capital One., the Capital One Venture Rewards Credit Card*×Information collected independently. Not reviewed by Capital One., or even the Capital One VentureOne Rewards Credit Card*×Information collected independently. Not reviewed by Capital One., I can transfer my cash-back on the Capital One Savor card at a rate of 1 cent per mile — ensuring I won’t miss out on the ability to earn plenty of miles for travel.

Beyond the excellent rates on Capital One Entertainment and Capital One Travel, what intrigues me most about the Capital One Savor card is the everyday earning rates. I earn 3% cash-back (so 3x miles) at grocery stores — but unlike the Amex Gold card, it isn’t limited to U.S. supermarkets only.

Whether I’m on a quick international trip or working remotely from abroad, I appreciate that I can still earn unlimited 3% cash-back, and of course, with no foreign transaction fees (rates & fees). If I were to spend more than $25,000 per year on groceries, my rewards wouldn’t be downgraded to earning 1x miles, as they are on the Amex Gold card.

That said, I do shop at Target and Costco for groceries a few times per month, so it’s unfortunate these stores wouldn’t qualify for the 3% cash-back (or even the 4x points on the Amex Gold card). In these instances, I plan on paying with a 2% cash-back card that provides bonus rewards regardless of the purchase.

2. Earn 3x Points on Dining

I also realized that switching to the Capital One Savor card would result in losing me the Amex Gold card’s ability to earn 4x miles at restaurants worldwide (up to $50,000 per year). However, I’ve made a conscious effort to eat out less and cook at home more, so the Capital One Savor card suits my needs just fine.

Not only that, I can still earn an unlimited 3x miles on dining with the Capital One Savor card, which I find to be plenty rewarding for a no-annual-fee credit card.

Assuming that I spend nearly $20,000 on combined purchases at grocery stores and restaurants every year, I should earn a healthy balance of 60,000 Capital One miles by the year’s end. On the flip side, spending $20,000 at U.S. supermarkets and restaurants with the Amex Gold card results in 80,000 Membership Rewards points. Yes, there’s a significant difference of 20,000 points, but it’s not such a huge amount that I’m losing sleep over the loss of these bonus points — plus I get to pay less in annual fees.

3. No More Statement Credits

It wasn’t just the increased annual fee that made me reconsider the Amex Gold card. I was starting to get tired of the sheer number of statement credits I felt I had to maximize each month, and I realized the following perks on the Amex Gold card’s recent refresh offered little to no value to me:

• Up to $100 Resy Credit: Receive up to $100 in statement credits annually (up to $50 semiannually) on eligible Resy purchases. This applies when dining at U.S. Resy restaurants, Resy event tickets, and merchandise (upon enrollment).
• Up to $84 Dunkin’ Credit: Receive up to $84 in statement credits annually (up to $7 in credits monthly) for purchases made at Dunkin’ locations with your card (upon enrollment).
• Up to $120 Dining Credit: Receive up to $120 in statement credits annually (up to $10 in credits monthly) for purchases made with the card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys.

The problem isn’t about finding ways to use these credits. The Resy credit, for example, is actually quite easy to use, since it applies to any restaurant available on the Resy platform. You could call me a coffee snob, but the Dunkin’ credit doesn’t appeal to me because I’m not a fan of their drinks (if you can even call it coffee), and the dining credit is very restricted, only covering a limited list of restaurants.

4. Earn a Welcome Bonus Offer

Terms Apply / Rates & Fees

Capital One Savor Cash Rewards Credit Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Capital One Savor card is a great no-annual fee card for those who regularly spend on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target).

Capital One Savor Cash Rewards Credit Card

The Capital One Savor card is a great no-annual fee card for those who regularly spend on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target).

Welcome Offer

Earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening.

$200

Annual Fee

$0

APR

19.49% - 29.49% (Variable),0% intro on purchases for 15 months

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

The Capital One Savor card is a phenomenal option when it comes to no-annual-fee cash-back credit cards. With popular bonus categories like dining, grocery stores (excluding superstores like Walmart and Target), entertainment, and popular streaming services, and the ability to earn 3% cash-back on these purchases, it is easy to see why those who use the card can earn some serious cash-back throughout the year.

The card also allows you to take your rewards and experiences even further by offering access to Capital One Travel, Capital One Dining, and Capital One Entertainment.

Pros & Cons

Pros

• 8% cash back on Capital One Entertainment purchases
• 5% cash-back on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options. Terms apply
• 3% cash-back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target)

Cons

• Rewards are purely cash-back, so there is no option for miles transfers to transfer partners for redemptions

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Card Highlights

• Earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening
• Earn unlimited 3% cash back at grocery stores (excluding superstores like Walmart^® and Target^®), on dining, entertainment and popular streaming services, plus 1% on all other purchases
• Earn 8% cash back on Capital One Entertainment purchases
• Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
• No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
• 0% intro APR on purchases and balance transfers for 15 months; 19.49% - 29.49% variable APR after that; balance transfer fee applies
• No foreign transaction fee
• No annual fee

Financial Snapshot

• APR: 19.49% - 29.49% (Variable),0% intro on purchases for 15 months
• Foreign Transaction Fees: None

Last, but certainly not least, the Capital One Savor card comes with a straightforward welcome bonus that will be easy for me to earn:

• Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months.

Sure, it’s not the biggest welcome bonus offer we’ve ever seen, but the $200 cash-back can be used as 20,000 Capital One miles for travel. By canceling my Amex Gold card and applying for the Capital One Savor card, the annual fee savings and the opportunity to still earn 3x miles on some of my largest everyday purchases is a win in my book.

Final Thoughts

It’s a little bittersweet to see my favorite cards become my least favorites, but that’s how I now feel about the Amex Gold card. Luckily, there are plenty of other credit cards worth considering that don’t come with hefty annual fees.

In my opinion, the Capital One Savor card feels like the best replacement for the Amex Gold in my wallet. Plus, I’ll save a significant amount of money and finally escape the growing hassle of dealing with my glorified Amex coupon book.