Premier Dining Rewards Credit Card From Capital One
The Premier Dining Rewards card from Capital One is a relatively new offering. It’s a no annual fee card that gives cardholders the ability to earn three percent cash back on dining purchases, two percent back at grocery stores and one percent back for everything else.
Cash back can be redeemed at anytime and with no minimum requirement, unlike many other cash back cards that impose a minimum redemption of $25 or more. In addition to good everyday earning, the Premier Dining Rewards card offers a $100 sign-up bonus after spending $500 within the first 3 months of card membership.
As far as other benefits go, there’s a lot to like. The Dining card offers secondary auto collision damage insurance for rentals, delayed baggage insurance, trip cancellation coverage and you won’t be charged foreign transaction fees when traveling abroad.
The Premier Dining Rewards card is a good option for someone looking for a relatively simple cashback card that doesn’t charge an annual fee but still offers some travel protections and benefits, especially if they enjoy eating out at restaurants.
Bonuses and Benefits
Knowing what benefits come with a credit card can help you decide if it’s a good fit for you. Here we cover the bonuses and perks that the Premier Dining Rewards From Capital One offers and the value of the Capital One Capital One® Cash Back Rewards cashback you earn.
The Capital One Premier Dining Rewards card offers a sign-up bonus of $100 after spending at least $500 on your card within the first 3 months of being a card member. This is a pretty solid sign-up bonus for a card that doesn’t carry an annual fee, and the spending requirement to earn the bonus is quite low. The Premier Dining Rewards card also offers a number of identity theft resolution services in case you feel like you might be a victim of identity theft.
What You Get
- Earn $100 after you spend $500 on purchases in the first 3 months
- Get 3% back at restaurants and 2% at grocery stores
Your cash back rewards won’t expire as long as you have your Premier Rewards Dining card open.
Everyday Earnings with Premier Dining Rewards From Capital One
The Capital One Premier Dining Rewards card earns three percent cash back on dining, two percent cash back on groceries and one percent cash back on all other purchases with no limit to the number of rewards you can earn. This is a decent earning structure for a no annual fee card that can really be lucrative if you spend a lot on dining and groceries. The Premier Dining Rewards card also doesn’t charge a foreign transaction fee, so you can earn three percent back on dining purchases made abroad with no extra fees.
- All Other Purchases
No Foreign Transaction Fee
There are no additional fees for using this card to make international purchases.
Earn Elite Status Fast
The Capital One Premier Dining Rewards card does not offer a fast track to earning elite status with any airline or hotel program.
Fees: the cost of Having Premier Dining Rewards From Capital One
Since the Premier Rewards Dining card has no annual fee, you don’t have to spend anything to cover the cost of being a cardholder. However, you should consider whether or not there is another card that will give you more rewards for the spending you are doing anyway.
Since the Premier Rewards Dining card offers a $100 sign-up bonus, you’re going to come out way ahead in the first year as long as you hit the $500 minimum spending requirement in order to earn the bonus.
- Annual Fee
- Foreign Transaction Fee
- Late Payment Fee
Up to $35
The Premier Dining Rewards card is a no-fee card. You do not have to earn a certain amount of rewards in order to cover the cost since it’s free. It’s still good to know roughly how much you’ll be earning, though. We’ve broken out our estimates for the first- and second-year net earnings.
These estimates are based on an annual monthly spend of $2,000
Top 5 Benefits of the Premier Dining Rewards Capital One
For a no annual fee card, the Premier Rewards Dining card from Capital One offers some great benefits. Here are the top five:
- Great Earning Potential: You’ll earn 3 % back at restaurants, 2 % back at grocery stores and 1 % back for all other purchases.
- No Foreign Transaction Fees: Don’t worry about extra costs adding up when you’re traveling abroad because the Premier Dining Rewards card won’t charge you extra to use your card.
- Solid Sign-Up Bonus: Earn $100 after spending at least $500 during your first 3 months as a card member.
- No Minimum Redemption: Most cashback credit cards require a minimum redemption, but not this one! Redeem as much as you want, whenever you are ready.
- No Annual Fee: You’ll never have to pay anything for this card. That means all the rewards you earn are essentially free. How can you beat that?
Should You Get the Premier Dining Rewards Card From Capital One?
The Premier Dining Rewards card might be a good option for some people, especially those who eat out often. The ability to earn three percent cash back at restaurants with a no annual fee card is pretty solid. And the fact that it also comes with a decent sign-up bonus makes the deal even sweeter! The card also offers two percent back at grocery stores and one percent back on all other purchases.
The benefit that really puts this cashback card ahead of others is the fact that there is no minimum for your redemptions and you don’t need to redeem for specific purchases. Additionally, no foreign transaction fees are charged on purchases made abroad, which makes this a good card for your wallet while traveling.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
- The Premier Rewards Dining card from Capital One is a personal credit card.
- You’ll need a good to excelled credit score in order to be approved for the Premier Rewards Dining card. A score in the low 700s or higher should be sufficient, but is does not guarantee approval.
- You can redeem the cash back earned from the Premier Rewards Dining card for any type of purchase you want, including travel purchases.
- The application for the Premier Rewards Dining card can be found on Capital One’s website.
- The APR for this card is determined when you apply. It is based in part on your creditworthiness. The APR will be 15.24%, 20.24% or 24.24%, but will also vary with the market based on the Prime Rate.
Compare Capital One® Cash Back Rewards Cards
Other Capital One® Cash Back Rewards cards
Another Capital One card offering similar benefits to the Premier Rewards Dining card is the Quicksilver card. Like the Dining card, it currently offers a $150 sign-up bonus and no annual fee, but there are a few differences worth noting.
|Capital One® Quicksilver® Cash Rewards|
|APR On Purchases||14.24% to 24.24% Variable±||15.49% to 24.49% Variable±|
|Second Year Value||$360||$240|
The Quicksilver card would be a better option for someone who doesn’t necessarily spend a lot on restaurant purchases but spends more in the categories that would earn only one percent cash back with the Dining Rewards card.
Another important difference between these cards is the foreign transaction fee. The Dining card doesn’t have one, but you’ll be charged a percentage of every purchase you make outside the U.S. with the Quicksilver card. If you travel abroad frequently, this could be a good reason to go with the Premier Rewards Dining card.
Compare Premier Dining Rewards Card to Other Cards
There are quite a few cards offered by other banks that are competitive with the Premier Rewards Dining card, including the Discover it Cashback card, the AARP card and Chase Freedom. One of these cards might be better than others, depending on your spending patterns and goals. All of these cards come without an annual fee.
Sign-up bonuses vary between these cards. Like the Dining Rewards card, the AARP card offers $20,000. The Chase Freedom comes with 15,000 points, which are redeemable for $0, and the Discover it card offers an unlimited cashback match for the first year of card membership. That means that if you earn $100 in cash back during your first year, you’ll be given a match of another $100 at the end of the year; likewise, if you earn $500 in cash back during your first year, you’ll be matched with $500 more at the end of the first year.
The other main difference between these cards is the spending categories. The Discover it and Chase Freedom both offer rotating five percent categories every quarter. Some categories you can expect to see throughout the year include restaurants, gas stations, grocery stores, Amazon, home improvement stores and more. The AARP card, issued by Chase, offers three percent back at restaurants and gas stations and one percent back on all other purchases.
Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.
Card Terms and Conditions
While it's easy to focus on the rewards offered by the Premier Dining Rewards card, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with the MasterCard.
- Intro APR:
- See Terms and Conditions
- Intro APR for balance transfers:
- See Terms and Conditions
- Ongoing APR:
- 15.49% to 24.49% Variable±
- Minimum Grace Period:
- 25 days
- Extended Warranty Protection:
- You'll get additional warranty protection at no charge on items that are purchased with your credit card.
- Price Protection:
- Get reimbursed the price difference on eligible items when you find the same item for a lower price within 60 days of purchasing it with your card.
Cash Advance Features
- Ongoing APR:
- 24.49% Variable±
- Cash Advance Fee:
- Either $10 or 3% of the amount of each cash advance, whichever is greater
Security and Protections
The Premier Dining Rewards card from Capital One has a couple of security features that go above and beyond, including security alerts and identity theft resolution services.
- Security Alerts:
- You can get personalized emails or text messages to stay on top of the security of your account.
- EMV Chip + Signature Technology:
- Get global acceptance and enhanced security at merchants that use chip enabled terminals.
- Identity Theft Resolution Services:
- You’ll have access to a number of Identity Theft services if you feel you’re a victim of Identity Theft.
Capital One offers a mobile banking app so you can check your spending and monitor your account while you’re on the go.
- Banking On the Go:
- Use Capital One’s mobile banking app to track your spending on the go.
- Digital Wallet:
- Complete quick and safe transactions with Apple Pay, Samsung Pay and Android pay. All are compatible with the Dining Rewards card.
Additional Cardholder Benefits
Since the Premier Dining Rewards card isn’t a premium credit card, it doesn’t offer many travel benefits that come with credit cards that have annual fees. Considering it’s a no annual fee card, it does actually come with some nice travel benefits that many comparable cards don’t have, including:
Master Card Travel Benefits
- Travel Protection:
- You can be reimbursed up to $1,500 per trip for non-refundable travel expenses if your trip is cancelled or cut short by things like sickness or injury.
- Travel Upgrades and Savings:
- Enjoy complimentary room upgrades, early check-in and late check-out when available, plus access to a portfolio of Luxury Hotels & Resorts.
- Complimentary Concierge Service:
- Get help with travel plans, dining reservations, locating hard-to- find items and more. Available 24 hours a day.
- Auto Rental Collision Damage Waiver:
- Coverage for theft and collision for most rentals in the U.S. and abroad of 31 consecutive days or less. Coverage is secondary to your personal insurance.
- Travel Accident Insurance:
- Receive accidental death or dismemberment coverage of up to $1,000,000 for any air, bus, train or cruise ship transportation paid for with your card.
- Baggage Delay Insurance:
- Reimbursement for essentials, such as toiletries and clothing, if bags are delayed over six hours. Get up to $100 a day for three days.