Capital One updated its Savor cards earning rates with a new streaming-service category and higher grocery earning rates on Tuesday, making the dining and entertainment cash-back cards more rewarding for people sticking close to home. The $95-per-year Savor Cash Rewards card now offers 4% back on eligible streaming service purchases (such as Hulu and Netflix), and 3% back on groceries (up from 2%). The no-annual-fee SavorOne Cash Rewards card now offers 3% back on streaming and grocery purchases. Both cards are also giving 8% back on entertainment purchases made through Vivid Seats (an online ticket marketplace for concert, sports, and theater events) through January 2023. Capital One said it made the changes to reflect how consumer behavior has evolved during the pandemic. During the height of lockdowns, many rewards cards gave home-bound consumers more ways to earn and use rewards on things they were still purchasing, such as groceries and online streaming services. Some of those promotions have since ended, but the Savor card updates are permanent changes to the rewards scheme. Both cards are open for online applications. Existing cardholders can start earning rewards under the new earning rates immediately, and new applicants will be offered the updated rewards scheme right out of the gate.
