Capital One Beefs Up Savor and SavorOne Rewards Rates
Capital One has announced new bonus rewards categories for its Capital One Savor Cash Rewards Credit Card and Capital One SavorOne Cash Rewards Credit Card. Cardholders can now earn extra cash back on streaming service purchases and a higher rewards rate on grocery purchases.
Key Takeaways
- Capital One’s Savor and SavorOne cards have added streaming services to their list of bonus rewards categories.
- Additionally, cardholders will earn a higher rewards rate on grocery store purchases, bumping the cash-back rate from 2% to 3% on both cards.
- SavorOne cardholders will also earn 8% back on Vivid Seats ticket purchases through January 2023, a benefit that was already available on Savor cards.
Big Changes to Capital One Savor and SavorOne Cards
It’s not often that a credit card issuer improves the rewards rates on its existing cards, but that’s exactly what Capital One announced in mid-May.
Previously, Savor and SavorOne cardholders didn’t earn bonus rewards on streaming services. Now, Savor cardholders will earn 4% back on these purchases, and SavorOne cardholders will get 3% back. In both cases, the new rate matches the card’s rewards rate on dining and entertainment purchases.
Capital One doesn’t provide a full list of the streaming services that qualify. But looking at the details for the Capital One Venture Rewards Credit Card, which allows cardholders to redeem rewards for streaming service purchases, it appears only video and music streaming services are eligible. If you want to earn extra rewards on audiobook and fitness subscriptions, you’re out of luck.
In addition to the rewards bump for streaming services, cardholders with either card will get 3% cash back at grocery stores. Previously, both cards offered 2% cash back on these transactions.
Finally, while the Savor card has offered 8% cash back on Vivid Seats event ticket purchases for some time, SavorOne cardholders will now be able to get in on the action at the same rewards rate. This rate isn’t permanent, though—it ends in January 2023.
Do These Changes Make the Cards More Appealing?
Existing Savor and SavorOne cardholders will benefit the most from these changes because they don’t have to do anything to earn the new rewards rates. If you don’t have one of the cards, though, you may be wondering if it’s worth it to apply.
Even with the bump, neither card offers the best cash-back rewards rate on grocery and streaming service purchases. The award for both of those categories goes to the Blue Cash Preferred Card from American Express, which offers 6% cash back on up to $6,000 spent at U.S. supermarkets each year and 6% back on select U.S. streaming subscriptions.
However, if you also like the idea of getting high rewards rates on dining and entertainment purchases, the Savor or SavorOne card might be for you.
