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If you are a student looking to establish or build credit while earning cashback on every purchase, you may want to consider the Capital One SavorOne Student Cash Rewards Credit Card.
The card offers a generous cashback rate in popular spending categories, like dining, entertainment, select streaming services and groceries. Plus, because Capital One reports your credit usage to the major credit bureaus, you have the opportunity to build credit history with responsible card usage — meaning, staying well below your credit limit and paying your bill on time each month.
We should note, Capital One classifies a student as anyone currently enrolled, or admitted and planning to enroll in the next three months, at an accredited university, community college or other higher education institution.
If you’re concerned about what will happen to your Capital One SavorOne Student Cash Rewards Credit Card once you graduate from school, know that you can continue using the card as usual or upgrade to a non-student card, such as the Capital One SavorOne Cash Rewards Credit Card.
To help you determine if the Capital One SavorOne Student Cash Rewards Credit Card is the right fit for you, we’ll highlight the card’s pros and cons, and show how it compares to similar student credit cards.
Intro Purchase APR
N/A
Regular Purchase APR
19.99% - 29.99% (Variable)
Intro BT APR
N/A
Regular BT APR
19.99% - 29.99% (Variable)
Annual Fee
$0
Cash Advance Fee
5% of the amount of the cash advance, but not less than $5
Foreign Transaction Fee
None
Balance Transfer Fee
Balance Transfer Fee applies to balances transferred at a promotional rate
Sign-up bonus
The Capital One SavorOne Student Cash Rewards Credit Card allows cardholders to earn $50 Cash Back when you spend $100 in the first three months.
Rewards rate
The Capital One SavorOne Student Cash Rewards Credit Card offers a generous cashback rate in a variety of popular spending categories for students. Cardholders earn 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 (terms apply); 8% Cash Back on Capital One Entertainment purchases; 1% Cash Back on all other purchases.
Rewards never expire and can be redeemed for checks, statement credits and gift cards, or be applied to directly cover a recent purchase.
Note, while statement credits lower your account balance, they cannot be used to meet minimum payment obligations.
Annual fee
The Capital One SavorOne Student Cash Rewards Credit Card charges a $0 annual fee.
Foreign transaction fees: None
With the Capital One SavorOne Student Cash Rewards Credit Card, you won’t be charged additional fees to use your card outside of the U.S. — which is ideal for those planning to study abroad or take a trip outside of the county.
High APR
If you carry a balance on your Capital One SavorOne Student Cash Rewards Credit Card from month to month, you will be subject to high interest charges at an APR of 19.99% - 29.99% (variable). But that’s not uncommon for a student credit card.
The $0 annual fee card offers a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
Plus, cardholders earn 3% cash back in the category of your choice. 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases. 1% cash back on all other purchases. Choice categories include gas, online shopping, dining, travel, drugstores and home improvement/furnishing.
Cash rewards can be redeemed for statement credit, deposited directly into a Bank of America® checking or savings account, or for credit to an eligible account with Merrill Lynch® or Merrill Edge®. Rewards can also be redeemed for a contribution to a qualifying 529 account with Merrill or for a check.
Additionally, if you need to finance a large purchase, such as school books or a laptop, you can do so without paying interest for over a year with the Bank of America® Customized Cash Rewards Credit Card for Students. On purchases, the card offers a 0% Intro APR for 15 billing cycles for purchases. After that, a 18.74% - 28.74% Variable APR applies.
| Credit Cards | Our Ratings | Welcome Offer | Rewards Rate | Annual Fee | |
|---|---|---|---|---|---|
|
Capital One SavorOne Student Cash Rewards Credit Card*
|
Earn $50 Cash Back when you spend $100 in the first three months | 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 (terms apply); 8% Cash Back on Capital One Entertainment purchases; 1% Cash Back on all other purchases | $0 | ||
Bank of America® Customized Cash Rewards Credit Card for Students*
|
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening | 3% cash back in the category of your choice. 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases. 1% cash back on all other purchases. | $0 | ||
Capital One Quicksilver Student Cash Rewards Credit Card*
|
Earn $50 when you spend $100 in the first three months | 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply) | $0 |
The Capital One SavorOne Student Cash Rewards Credit Card is a solid option for students who want to earn unlimited cashback rewards from a credit card, while also having access to useful benefits, like extended warranty and travel accident insurance. Additionally, cardholders are not limited to the amount of rewards they can earn at the 3% rate.
But if you need to make a large purchase and pay it off over time, the Bank of America® Customized Cash Rewards Credit Card for Students will be a better fit, since it offers an intro APR on purchases. Plus, the card offers a lucrative sign-up bonus and allows you to select which category you want to earn the higher cashback rate in.
Whichever card you choose, it’s imperative that you’re prepared to pay your bill on time each month and keep your balance well under your credit limit to avoid negatively impacting your credit and to avoid hefty interest charges.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
The information related to the Capital One SavorOne Student Cash Rewards Credit Card, Capital One SavorOne Cash Rewards Credit Card, Bank of America® Customized Cash Rewards Credit Card for Students and Capital One Quicksilver Student Cash Rewards Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
