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You can now earn extra cash back on popular streaming services with these Capital One cards

June 12, 2020
4 min read
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Update: This benefit has been extended to April 30, 2021 and the article has been updated to reflect this update.

The world may be in the early stages of reopening, but for months now, we've all been spending more time at home. That will likely continue for weeks or even months to come, including this summer.

During the earlier stages of the pandemic, Capital One announced new redemption options for food delivery and streaming services. Now, Capital One is taking it a step further by introducing a new, limited-time earning bonus for two cash-back earning cards.

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New streaming category bonus

(Photo by Phil Barker/Future Publishing/Getty Images)

Both the Capital One Savor Cash Rewards Credit Card and Capital One SavorOne Cash Rewards Credit Card are cash-back earning cards that get a boost for streaming services through Apr. 30, 2021.

The Capital One Savor, a card that comes with a $95 annual fee, now earns 4% cash back on some of the most popular streaming services including Netflix, Hulu and Disney+. The Capital One SavorOne, a card that has no annual fee, will now earn 3% cash back on the same streaming services, dining, entertainment, and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases.

Previously, streaming was a nonbonus category meaning you'd only earn 1% cash back, so this is effectively a 3% boost (for the Savor) and a 2% boost (for the SavorOne).

Related reading: Best cards for streaming services

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Savor and SavorOne bonus categories

In addition to the newly added streaming bonus category, the Capital One Savor and SavorOne cards also still receive uncapped bonus earnings for existing categories. The $95 annual-fee Capital One Savor offers unlimited cash back at the following rates:

  • New and limited-time: 4% back on popular streaming services
  • 4% back on dining
  • 4% back on entertainment
  • 3% back at grocery stores
  • 1% on everything else

Meanwhile, the no-annual-fee SavorOne offers the same category bonuses, with just 1% less in earnings than its sister card:

  • New and limited-time: 3% back on popular streaming services
  • 3% back on dining
  • 3% back on entertainment
  • 3% back at grocery stores
  • 1% on everything else

Related reading: The best cards for entertainment

Perks for Venture Miles earning cards

(Photo by Wyatt Smith / The Points Guy)
(Photo by Wyatt Smith / The Points Guy)

While these two Savor cards earn cash back, the Capital One cards that earn Venture miles -- including the Capital One Venture Rewards Credit Card and Capital One VentureOne Rewards Credit Card -- got a coronavirus-related perk of their own earlier this spring.

These Venture cards now offer the ability to redeem Capital One miles for food delivery and streaming services through Apr. 30, 2021. The redemption rate is an okay-but-not-great one cent per mile, the same as redeeming Capital One miles for travel purchases. The most lucrative use of your Capital One miles continues to be transferring to hotel and airline partners, assuming you are traveling.

Related reading: Best ways to maximize Capital One miles

The information for the Capital One Savor has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Bottom line

Capital One's addition of streaming services as a category bonus isn't a game-changer by any means, especially when you look at the list of coronavirus-related card benefit changes in the past month.

"Capital One is providing value to customers in new and different ways since we know their lives have changed," a Capital One spokesperson said.

However, while this addition feels slightly late to the game, it's still nice when card issuers react to changing consumer behavior and needs in light of the global pandemic.

Featured image by Future Publishing via Getty Imag
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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