Capital One vs Amex Gold: Could a New Challenger Dethrone the Dining King?
The credit card landscape might be in for a shake-up, as rumors circulate about Capital One’s potential new premium dining card. According to Doctor of Credit, Capital One has been sending surveys to select cardholders, gauging interest in what many speculate could be the “Savor X” card. But could this newcomer actually challenge the dominance of the American Express Gold Card? Let’s break it down.
The Rumored Capital One Savor X: What We Know
According to the survey, the potential new card could offer:
Rewards Structure:
4x points/4% on dining and entertainment
3x points/3% on groceries
10x points on hotels and rental cars (through Capital One Travel)
10x points on Capital One Entertainment purchases
1x points/1% on everything else
Proposed Benefits:
$100 annual Capital One Travel portal credit
$100 dining credit for select restaurants (including Michelin-starred venues)
$120 annual Starbucks credit (likely $10/month)
1-year Apple TV Plus membership
Uber One membership
The proposed annual fee would be $295, slightly lower than the Amex Gold’s $325.
How Does It Compare to the Amex Gold?
The Amex Gold Card currently offers:
4x points on dining and U.S. groceries
3x points on airfare
$120 dining credit
$120 Uber/Uber Eats credit
$100 Resy credit
$84 Dunkin’ credit
The Key Differentiators
Entertainment Focus: The proposed Capital One card would uniquely cover entertainment purchases at 4x, something the Amex Gold doesn’t address.
Starbucks vs. Dunkin’: The Starbucks credit might have broader appeal than that of the Dunkin’ credit, given the chain’s larger footprint and international presence.
Annual Fee: The proposed annual fee would be $295, slightly lower than the Amex Gold’s $325.
Is It Worth Switching?
The decision to switch would largely depend on three factors:
Multipliers: The proposed earning rates are competitive with Amex Gold.
Transfer Partners: Both Capital One and Amex share popular transfer partners like Air France and Virgin Atlantic.
Customer Service: While Amex has traditionally led in this area, recent reports suggest their service quality might be declining.
The Verdict
If Capital One launches this card as described, it could present a serious challenge to the Amex Gold’s dominance in the premium dining card space. The addition of entertainment rewards, potentially more accessible credits, and a lower annual fee make it an attractive proposition.
However, it’s important to remember that this is still speculative – the card hasn’t been officially announced, and features could change before launch. Additionally, Capital One’s approval criteria might be stricter than Amex’s, potentially limiting access to this new product.
For now, the Amex Gold remains a strong choice for dining and grocery spending, but watch this space – the dining rewards landscape might be about to change significantly.
What do you think? Would you consider switching from the Amex Gold to this potential Capital One card? Let us know in the comments below!
[Note: All information about the potential Capital One card is based on survey data and has not been officially confirmed by Capital One.]