Capital One Savor Card to Stop Accepting Applications

The Capital One Savor Cash Rewards Credit Card will no longer be on the issuer’s menu of available credit cards for new applicants. Beginning July 16, 2024, the card will stop accepting applications, according to Capital One.

“We’re always listening to customers and evaluating our products for the right offerings,” said a Capital One spokesperson in an email. “Based on this, we have made the decision to remove Savor as a card offering.” 

Existing cardholders will not be affected by the change, the issuer confirms. The card will continue to maintain its $95 annual fee and offer the following rewards:

• 4% cash back on dining, eligible streaming services, and entertainment.

• 3% cash back at grocery stores.

• 5% cash back on hotels and rental cards booked through Capital One Travel (terms apply).

• 1% cash back on all other purchases

Prospective applicants will miss out on the card’s tasty rewards in a variety of top everyday categories, but it’s still possible to find value among similar cards. Capital One confirms it will keep applications open for the $0-annual-fee Capital One SavorOne Cash Rewards Credit Card and the Capital One SavorOne Student Cash Rewards Credit Card, which provide slightly lower rewards rates across some of those everyday purchases. They earn 8% back on Capital One Entertainment purchases; 5% back on hotels and rental cars booked through Capital One Travel; 3% back on dining, eligible streaming services, grocery stores and entertainment; and 1% cash back on all other purchases. Those ongoing rates are still heartier than you’ll find on some other credit cards.

Frequent diners who prefer an elevated rewards rate at restaurants can consider the $0-annual-fee U.S. Bank Altitude® Go Visa Signature® Card. It earns 4 points per $1 spent on dining (including takeout and delivery); 2 points per $1 spent at grocery stores, gas stations, EV charging stations and on eligible streaming services; and 1 point per $1 on all other eligible purchases. It also provides an annual credit of $15 for eligible streaming service purchases like Netflix and Spotify.