Capital One SavorOne Cash Rewards Credit Card rebranded to Savor
Back in July, Capital One closed applications for its popular Capital One Savor Cash Rewards Credit Card. The card was a favorite among cash-back enthusiasts thanks to its impressive bonus categories and a low annual fee of $95.
Capital One's credit card lineup can be confusing with its similarly named credit cards, and it's about to get a little more baffling. Starting Tuesday, the no-annual-fee Capital One SavorOne Cash Rewards Credit Card will be rebranded and called the Capital One Savor Cash Rewards Credit Card.
Slightly confusing, we know. Let's explore what's changing and what this means for existing and new cardholders.
The information for the Savor Rewards (with a $95 annual fee) has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
New welcome offer
New cardholders can receive a $250 bonus after spending $500 within the first three months from account opening. This elevated offer falls between the now-canceled Savor credit card and the standard SavorOne credit card offers we've seen in the past.
In addition, the card is getting a refreshed design, which will help distinguish it from the previous Savor Cash Rewards credit card, which closed to new cardholders earlier this year.
What will happen to existing cardholders?
Existing SavorOne Cash Rewards Credit Card holders will see the card's name change on their accounts when signed in on capitalone.com, in the mobile app and on their monthly statement after Tuesday.
If a SavorOne cardholder's card expires, is lost or is stolen, they will be issued a new card starting in November, reflecting the Savor name change and new card design.
What's staying the same?
Little else is changing with the rebranding of the old SavorOne. The card will still have no annual fee and continue offering unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®) and on dining, entertainment and popular streaming services; 8% cash back on Capital One Entertainment purchases; and 5% cash back on hotels and rental cars booked through Capital One Travel.
Related: The best Capital One credit cards
All other purchases made with the rebranded Savor Cash Rewards card will earn 1% cash back.
In addition, those with the old Savor card will not see any meaningful changes to their benefits.
Bottom line
It's strange that Capital One would rebrand the SavorOne to a card it recently closed to new applicants, and since legacy Savor customers can keep their cards (and benefits), there are now two different cards with the same name.
Existing cardholders of both the "new" Savor card and the "old" Savor card will continue to enjoy the same set of benefits they did before the rebrand — and while new applicants are eligible for a higher welcome offer, they aren't getting any new perks with the rebranded product.
Read more: Capital One Savor Cash Rewards Credit Card review