Skip to content

This Week in Credit Card News: May 14–20

Published May 20, 20212 min read

Advertiser Disclosure

Credit Card Insider is an independent, advertising supported website. Credit Card Insider receives compensation from some credit card issuers as advertisers. Advertiser relationships do not affect card ratings or our Editor’s Best Card Picks. Credit Card Insider has not reviewed all available credit card offers in the marketplace. Content is not provided or commissioned by any credit card issuers. Reasonable efforts are made to maintain accurate information, though all credit card information is presented without warranty. When you click on any ‘Apply Now’ button, the most up-to-date terms and conditions, rates, and fee information will be presented by the issuer. Credit Card Insider has partnered with CardRatings for our coverage of credit card products. Credit Card Insider and CardRatings may receive a commission from card issuers. A list of these issuers can be found on our Editorial Guidelines.

At a glance

Increased cash back rates for Capital One Savor and SavorOne cards; New cash back offers program from U.S. Bank; Big banks plan to offer more products for people with no credit.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.

The information related to Capital One Savor Cash Rewards Credit Card and Capital One SavorOne Cash Rewards Credit Card have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.

Increased Cash Back Rates for Capital One Savor and SavorOne Credit Cards

  • On 5/18/21, Capital One increased the cash back rates for groceries for two popular credit cards, and added a new streaming category as well. The current card features are:
  • Capital One Savor Cash Rewards Credit Card (Review):
    • 8% cash back on tickets at Vivid Seats
    • 4% cash back on:
      • Dining
      • Entertainment
      • Streaming Services
    • 3% cash back at Grocery Stores
    • 1% cash back on all other purchases
    • $300 cash bonus for spending $3,000 in the first 3 months
    • Annual fee: $95
  • Capital One SavorOne Cash Rewards Credit Card (Review):
    • 3% cash back for:
      • Dining
      • Grocery Stores
      • Streaming Services
      • Entertainment
    • 1% cash back on all other purchases
    • $200 cash bonus for spending $500 in the first 3 months
    • Annual fee: $0

New Cash Back Offers Program From U.S. Bank

JPMorgan Chase and Others To Expand Credit Offerings to Those With No Credit Scores

  • JP Morgan Chase, Wells Fargo, and U.S. Bank are planning to offer credit products designed for “credit invisible” people with no credit scores, who have traditionally had a hard time being approved.
  • Banks will look at information in checking and savings accounts to make their application decisions. Banks are also discussing partnerships with companies like Plaid and Finicity to include rent and utility payments in credit applications.
  • The pilot program is set to begin later this year.
  • This initiative follows a generally increasing trend of card issuers (usually smaller companies, like Petal and Jasper) offering products for people with no credit by looking at non-traditional sources of information — sources other than credit reports and credit scores. (Petal Card is issued by WebBank, Member
    FDIC.)
  • See credit cards designed for limited credit or no credit.
  • Source: Wall Street Journal
Was this helpful?
Written by

Brendan Harkness

Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

Do you have a correction, tip, or suggestion for a new post? Contact us here.

The responses below are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered.

Scroll to top