Originally Posted by rasheed

It is being widely reported that Savor with AF, the 4% card version is no longer being offered for applications. SavorOne, the no AF 3% card is still available.

Capital One says existing cardholders for now are not impacted.

I can summarize some of the issues the company is experiencing. First, the difference between SavorOne and Savor is so marginal, it is either not worth the AF or you have cardholders that are very unprofitable (season ticket buyers).

Second, while this card has tied in with major programs like baseball, Taylor Swift and iheart, from what I can tell, these categories are major areas of spending cutback in current economic times (excluding certain megastars) so it is not a matching lifestyle card for many (especially after already getting in the Taylor Swift presales).

Third, the UberOne program is ending soon, but is available on the no AF card too, which is confusing. I suspect it willl not be renewed in light of this news.

What happens next? It is not unusual for Capital One to grandfather cards for a long time. It does mean there is no hope for any better benefits on either Savor or SavorOne. I don't know if this card will survive after the DFS acquisition though either.

I had hope they would boost the card categories or rate up to 5%, but looks like they are not going to invest in this program further.

Frankly, I can't imagine VentureX is profitable either unless there are large swaths of holders paying interest.

This may be the start of more bad news across the portfolio as the bank has to obviously do a lot of rationalizing in light of DFS and probably skyrocketing delinquencies. This is going to be a rough road.

Further, the trend for super-premium cards even for younger generations doesn't bode well for these lower AF cards.