Capital One Enhances Rewards on SavorOne Card

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.

Other Articles by Jonathan Dyer

Bilt Extends Rent Day Promotion for Black Friday and Beyond

In October, the unique Bilt Mastercard unveiled its inaugural Rent Day promotion, which included the opportunity for cardholders to earn double rewards and nearly all of their purchases on the first of the month. That deal returned in November alongside the addition of a United Airlines status match offer and more. Now, just in time for Black Friday, Small Business Saturday, and Cyber Monday, Bilt is extended December's Rent Day...

Venmo App Adds Charitable Giving Interface

Although Thanksgiving and retail holidays such as Black Friday, Small Business Saturday, and Cyber Monday may be on the minds of many people, a popular peer-to-peer payment app is looking ahead to Giving Tuesday. This week, Venmo announced the rollout of a new interface that will make it easier for users to discover and donate to various charities. The feature is now live in the latest version of the Venmo...

American Express Introduces New Credit Card Approval Process

For some consumers, applying for a new credit card can be anxiety-inducing as there's a chance that they could not only be declined for the product but also have their credit impacted by the credit inquiry. To give these applicants better peace of mind, American Express is rolling out a new approval process. Amex has announced a new pilot program for its U.S. Personal Cards (meaning non-business cards) that will allow...