Credit Cards

Capital One Enhances Rewards on SavorOne Card

by Jonathan Dyer

In recent months, plenty of credit card companies have made adjustments to their products — including moves both good and bad. Now, Capital One has joined the ranks of those refreshing one of their popular cards, in this case the SavorOne. Luckily, though, the adjustments all seem to be favorable to cardholders, with the addition of a new rewards category and a bump-up for another.

The first significant change to the SavorOne card is that the Grocery Store spending category (which excludes superstores like Walmart and Target) has increased from the previous 2% cashback to 3% cashback. On top of that, the card has added a new 3% cashback category for select streaming services. Examples of eligible services include Netflix, Hulu, and Disney+. However, some notable exceptions mentioned by Capital One include Prime Video, AT&T TV, Verizon FIOS On Demand, audiobook subscriptions, and more.

As for what’s staying the same, the SavorOne will continue to offer unlimited 3% back on both dining and entertainment. This means 3% cashback at restaurants, cafes, bars, lounges, fast-food chains, and bakeries under the “Dining” category, as well as 3% back at movie theaters, sporting events, amusement parks, tourist attractions, aquariums, zoos, and many more activities that fall under “Entertainment.” Lastly, the card will continue to earn 1% back on all other purchases.

Just as the no-annual-fee SavorOne is seeing some changes, so is its “big brother” card the Capital One Savor. In this case, the card will now offer 4% cashback on dining, 4% back on entertainment, and 4% back on select streaming services plus 3% back at grocery stores and 1% back on everything else. Notably, however, the Savor card does carry a $95 annual fee, which is not waived for the first year.

Heading back to the SavorOne card, those considering applying will also want to know about the card’s generous welcome bonus. Currently, new cardholders can earn $200 in cashback when they spend just $500 in purchases on the card in their first three months. This remains one of the best spend-to-reward intro bonus ratios — especially for a no-annual-fee card.

Overall, these updates to the Capital One SavorOne and Savor cards are great news for cardholders, with seemingly no downside. In fact, the SavorOne is now among the best no-annual-fee and no rewards cap cards for grocery shopping. Between that fact and the hope that many entertainment options will soon be making a comeback, now could be a great time to add the Captial One SavorOne to your wallet.

Author

Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

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