While many premium level credit cards in the recent months have been busy offering credits for you to keep their cards, there’s only been another trend that has been slowly developing. After the credit card companies know you’ll keep their card by giving you the credits, they want to be sure that you also spend on their card too, which brings out a whole market of offering more incentives for you to use your card, such as increased reward categories.
From now until September 30, 2020, Capital One will be offering an increased bonus for streaming services. The Savor card will earn 4%, and the SavorOne will be getting 3%.
Hard to say this move is worth doing. Whenever cards with rotating categories offer streaming services for their quarter, I always get annoyed. How am I supposed to get much benefit if I charge my Hulu and/or Netflix to these cards? What good is 4% back on $20 once a month? 80 cents? Obviously these things add up over time, but if given 3 opportunities to charge that, what is $2.40 helping me with exactly? It doesn’t make too much of a dent in the $75 quarterly maximum, and I don’t think it’ll make much of a difference here either. The difference though, is that there are always other ways to meet that $75 max with those cards.
If this were a permanent change, then I’d be willing to make the argument that it would be worth putting some of your spend on here. But with it only being a temporary thing? I’m not sure that I would say it’s entirely worth it, unless you don’t have any other card to put your streaming spend on that earns this much. I guess I would have just preferred to see streaming in addition to something else, then we could talk about it.
Are you going to be putting your streaming spend on the Savor cards? Is there another card you would use instead? Let us know down in the comment section below.