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.
$0
1%-8%
$50
630-689 (Fair)
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 and potentially more rewarding for consistent spending patterns.
Concluding 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.
