Capital One Savor and SavorOne cardholders can now earn 4% and 3% cash back on eligible streaming services, respectively.
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A recent CreditCards.com poll found that 31% of U.S. adults added a new streaming service subscription during the pandemic. Luckily for cardholders, credit card issuers keep finding new ways to accommodate these kinds of changes to spending habits.
For instance, back in April, Capital One added limited-time redemption options to Venture cards, including food delivery, takeout and streaming services. Now temporary changes are coming to Savor cards as well: On June 12, 2020, Capital One announced it’s adding cash back on streaming services to the Capital One® Savor® Cash Rewards Credit Card* and Capital One SavorOne Cash Rewards Credit Card in a new limited time offer.
“Capital One is providing value to customers in new and different ways since we know their lives have changed,” the issuer said in a statement.
What to know about the new cash back offer
Eligible Savor cardholders will now be able to earn 4% cash back on some of the most popular select streaming services including Netflix, Hulu and Disney+. Those with the SavorOne card can also take advantage of a 3% cash back rate on these services.
Besides video streaming, the category also includes eligible music streaming services. The offer is valid through April 30, 2021.
Capital One Savor and SavorOne rewards
|Card||Rewards rate||Annual fee|
|Capital One® Savor® Cash Rewards Credit Card||$95|
|Capital One SavorOne Cash Rewards Credit Card||$0|
See Related: Best Capital One credit cards
Is this limited-time offer valuable?
The addition of a streaming services cash back category is a nice touch for those spending more on these services.
However, you probably won’t earn significant cash back with the new offer. For instance, if you spend $30 per month on streaming services and have the Savor card, in four months you’d earn only $4.80 in cash back.
The Savor cards are still competitive amid coronavirus
The pandemic has had a big impact on ways consumers spend their money, and some may wonder if their credit cards offer enough value during this time. Still, those with Savor and SavorOne cards shouldn’t find it hard to earn rewards.
See related: Credit card use for groceries has climbed 70% in four months
Savor cardholders earn unlimited 4% cash back on dining – including restaurant takeout and delivery – and entertainment, as well as 2% back at grocery stores and 1% back on all other purchases.
SavorOne cardholders earn rewards in the same categories at a slightly lower rate: 3% cash back on dining and entertainment, 2% back at grocery stores and 1% back on all other purchases.
The high earning rates on dining and grocery store purchases are easy to take advantage of from home and are therefore still valuable bonuses during the pandemic.
Should you pay for streaming with your Savor card? While not the most lucrative of cash back opportunities, being able to earn on streaming services provides another opportunity for Savor and SavorOne consumers to get some extra rewards. Considering it’s money you would probably spend anyway, there’s no reason not to earn some of it back and get the most out of your card.
See related: Best credit cards for streaming services
*All information about the Capital One Savor Cash Rewards Credit Card has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.
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