Capital One SavorOne Student Cash Rewards Credit Card Review

The Capital One SavorOne Student Cash Rewards Credit Card is designed specifically for students looking to make the most out of their spending while building a strong credit foundation.

This card stands out in the crowded field of student credit cards by offering extensive cash back rewards in categories that are most relevant to student life, such as dining, entertainment, and grocery shopping.

CreditFinder’s Rating: 4.9/5

This rating reflects the card’s strong alignment with student spending habits, its reward structure, and its overall value proposition considering no annual fee and the inclusion of student-friendly perks.

The Capital One SavorOne Student Cash Rewards offers a comprehensive rewards program that is easy to understand and lucrative for active students. Here’s a closer look at what makes this card a top contender for students:

Rewards Structure

• 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target).
• 5% cash back on hotels and rental cars booked through Capital One Travel.
• 8% cash back on purchases from Capital One Entertainment.
• 1% cash back on all other purchases.

This tiered rewards system is designed to maximize returns on categories where students are likely to spend the most. Whether you are grabbing a bite, streaming your favorite show, or planning a road trip, the SavorOne Student card ensures that your spending is rewarding.

Welcome Offer

New cardholders can earn a $50 cash bonus after spending just $100 within the first three months of account opening. This low spending threshold makes the welcome offer highly attainable for students who may not have high monthly expenditures.

Rates and Fees

• Annual Fee: $0
• APR: Variable APR of 19.99% to 29.99% on purchases and balance transfers.
• Foreign Transaction Fees: None, making it an excellent choice for students studying abroad or traveling internationally.

Additional Perks

• CreditWise from Capital One: Free tool to monitor your credit score and learn how to improve it.
• MasterRental Coverage: Provides insurance for rental cars when you pay with your card.
• Extended Warranty Protection: Doubles the manufacturer’s warranty, providing extra security for your purchases.

Who Should Consider the Capital One SavorOne Student Card?

This card is ideal for students who:

• Frequently dine out or order in.
• Spend on entertainment and groceries.
• Are looking to build credit while maximizing cash back on every purchase.

Potential Downsides

While the SavorOne Student offers substantial benefits, it does have a higher APR, which could be costly if you carry a balance. Therefore, it’s best suited for students who are able to pay off their balances in full each month to avoid interest charges.

Comparison with Other Student Cards

When compared to other student credit cards like the Discover it® Student Cash Back, the SavorOne offers unlimited rewards on specific categories without the need to activate or track rotating categories, making it simpler to use.

Evaluation

The Capital One SavorOne Student Cash Rewards Credit Card offers an impressive array of benefits and rewards that are tailored to the lifestyle and financial needs of students. With no annual fee, generous cash back on practical categories, and additional cardholder benefits, this card provides exceptional value and is a smart choice for students looking to get the most from their credit card experience.

Additional Perks of Capital One SavorOne Student Cash Rewards

The Capital One SavorOne Student Cash Rewards Credit Card offers various perks that make it appealing to students beyond just cash back. Students benefit from fraud coverage, providing zero liability for unauthorized transactions. The card also features extended warranties on purchases and rental car insurance when paying for rentals with the card. Additionally, no foreign transaction fees make it an excellent choice for international travelers or students studying abroad, while 24/7 customer service ensures peace of mind in case any issues arise.

Furthermore, cardholders gain access to Capital One’s premium entertainment experiences, where they can use exclusive offers for tickets to events and performances. This access to concerts, sporting events, and other entertainment-related opportunities is especially beneficial for students who regularly engage in social activities. As a Visa cardholder, users also enjoy Visa Signature benefits, which include travel and shopping protections like concierge services and travel assistance, creating more opportunities for convenient travel and purchases.

Credit-Building Benefits

One of the primary reasons students should consider the Capital One SavorOne Student Cash Rewards Credit Card is its ability to help build credit responsibly. Through CreditWise, a free credit-monitoring tool offered by Capital One, students can track their credit score, which is key for establishing a solid credit foundation. The card reports to all three major credit bureaus—Equifax, Experian, and TransUnion—ensuring that responsible card use, such as paying off balances on time, contributes to positive credit history.

Unlike many traditional student credit cards, the SavorOne has an automatic credit limit increase review after six months. This feature is crucial for students aiming to improve their credit score, as higher credit limits positively impact the credit utilization ratio, a key component of the score.

Comparison with Competitors

When evaluating the Capital One SavorOne Student Cash Rewards Credit Card against its competitors, such as the Discover it® Student Cash Back and the Chase Freedom® Student Card, several key differences arise. This makes it easier for students who don’t want to keep track of category activation or quarterly spending limits.

Another competitor, the Chase Freedom® Student Card, offers a flat 1% cash back on all purchases, which is significantly lower than the Capital One SavorOne’s. Additionally, the SavorOne’s no foreign transaction fees feature and access to premium entertainment events are distinguishing factors that elevate the overall value for students who travel or enjoy live performances.

Conclusion

The Capital One SavorOne Student Cash Rewards Credit Card stands out as a top student credit card, offering targeted cash back rewards in categories most relevant to student lifestyles. With no annual fee, high cash back rates, and opportunities to build credit, it’s an excellent option for students who frequently dine out, enjoy entertainment, or want to shop without worrying about extra fees when traveling abroad.