Capital One SavorOne Student Cash Rewards Credit Card Review
Capital One SavorOne Student Cash Rewards Credit Card
CardRatings Editor's Analysis: Pros & Cons
- Endless cups of coffee, late night streaming sessions, summer concerts... these are all things cardholders can earn bonus rewards on when making purchases with this card. What a great fit for college students!
- Not only is there no annual fee, but this card also doesn't charge foreign transaction fees so it's a great fit for students planning to study abroad - or spend a summer backpacking through Europe.
- What student wouldn't appreciate a little extra cash in their pocket? The fact that this card earns cash back and there are no complicated points systems to navigate or hoops to jump through is a plus. And as an added bonus, new cardholders can earn an early spend bonus of $50 once spending $100 in the first three months of opening an account!
- Watch out for that APR – it's steep at RegAPR.
TABLE OF CONTENTS
- SavorOne Student Credit Card Rewards
- What Credit Score is Needed for the SavorOne Student Credit Card?
- SavorOne Student Credit Card Fees
- Who Does Capital One Consider to be a Student?
- What Happens to Your Card After Graduation?
- What are the Downsides of the Card?
- SavorOne Student Card Cardholder Scores
- How Does the SavorOne Student Card Compare to Other Cards?
- Is the SavorOne Student Card a Good Card?
Student cards normally give college students with a limited credit history access to a line of credit… and that’s about it. Very few bells, almost no whistles, certainly no sizzle with that steak.
The CardName is a much appreciated exception to that expected idea of a student credit card. The benefits start with the card having no annual fee. If you are subsisting on ramen and uncrustables, the last thing that you want is to pay is a fee to own a credit card. See Rates and Fees
The SavorOne Student card, unlike many of its student card counterparts, is also a rewards credit card. The SavorOne Student earns unlimited 3% cash back on dining and entertainment purchases, grocery store purchases (excluding superstores like Target and Walmart), and on popular streaming services. So whether you’re dining out and catching a movie with friends, replenishing your dorm room snack bin, or binging your favorite Netflix show, you’ll earn rewards on it all.
Additionally, if you love attending live shows, the SavorOne Student card also earns 8% cash back on entertainment purchases when you book through the Capital One Entertainment portal. Plus, earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options (terms apply). Finally, earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024. All other purchases made with the card earn 1% cash back.
Other card benefits include:
- A welcome bonus for new cardholders: Earn an early spend bonus of $50 when you spend $100 in the first three months of opening an account.
- Capital One Experiences: Enjoy VIP and early access to premiere culinary experiences, must-see concerts and big time sporting events with your card.
- The rewards earned never expire for the life of the card and have great redemption options including directly for cash, covering card purchases, gift cards, using rewards through PayPay, and paying for Amazon.com purchases using your Capital One rewards.
- Card protection features like security alerts if Capital One notices potential suspicious transactions on your account, $0 fraud liability for unauthorized charges, and card lock allowing you to lock your card in the Capital One mobile app.
- Travel benefits include no foreign transaction fees, travel accident insurance when you use your credit card to purchase your travel fare, complimentary concierge services to help plan dining or entertainment, and 24-hour travel assistance services.
- Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% - 29.99%. Variable APRs will not exceed 29.99%.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations.
- 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- Get up to $120 in statement credits annually when you pay for an auto-renewing subscription to Equinox+ at equinoxplus.com with your Blue Cash Preferred® Card. That's $10 in statement credits each month. Enrollment required.
- Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Preferred® Card. Enrollment required.
- Terms Apply.
The CardName requires fair credit so it’s great for people newer to establishing their credit history.
Capital One specifically mentions two different scenarios that fit within their definition of fair credit. The first scenario is someone who has defaulted on a loan in the last five years. The second being someone with a limited credit history, which Capital One defines as having a credit card or other form of credit for less than three years. Most often, traditional students will fall into this category.
The credit scoring agency Fico considers a fair credit score anything that’s in the 580-699 range, however, additional factors from your application and credit history could also be considered in the approval process.
The CardName has very few fees, which makes it perfect for students on a budget. There are a few lesser occurring fees, like late payment penalty fees and cash advance and transfer fees, so it's important to be aware of those, but as far as common fees go, there's not much to worry about with this card.
The card has no annual fee, which means that you don’t have to pay just to have it in your wallet.
The SavorOne Student also has no foreign transaction fees, allowing you to use your card abroad without incurring extra costs. If you plan to study abroad or just want to scratch your wanderlust internationally, this is a great card to pack. Usually, cards that have foreign transaction fees charge on average a 3% fee for every purchase made outside of the continental U.S. and on purchases made in a foreign currency. For your backpacking adventure through Europe, if you spend $4,000 on purchases you could be adding on an additional $120 in fees alone if you were to make those purchases with a card charging a 3% foreign transaction fee. See Rates and Fees
The CardName is, as the name suggests, for college students. Capital One, for card eligibility, considers students to be 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.
After you graduate from college you will likely have a lot of things on your plate. From finding a job and a new place to live, to fulfilling no one’s lifelong goal of repaying student loans, there will be a lot to occupy your attention. One thing that you won’t need to worry about though is having to make changes to your CardName. You can keep your same card, rewards, and benefits even after graduating from school.
Once the dust settles, do know though that you may have the option to upgrade your card, depending on your credit score. The non-student CardName offers the same great benefits, but it may offer you a better APR, which is important if you ever need to carry a balance on your account. You may also be able to get a higher credit limit, which could be necessary for your post-college lifestyle.
While there are a lot of great benefits to the CardName, there are some potential downsides. The most noticeable downside is the relatively high purchase and transfer APR of RegAPR. As this is on the high side relative to some cards on the market, it is important to stay on top of paying off your balance every month. Otherwise, any rewards you earn with the card could easily be canceled out by interest charges. See Rates and Fees
|Current Scores||Past Scores|
|Likelihood of Continuing to Use||7.9||7.8|
|Recommend to a Friend/Colleague||7.5||6.9|
Capital One SavorOne Student Card vs. Capital One QuickSilver Student Card
Like the Capital One SavorOne Student card, the CardName has no annual fee, no foreign transaction fees, and excellent reward-earning opportunities. Where the two cards diverge is in their earning rates. The Capital One QuickSilver Student card earns at least 1.5% cash back on all purchases made with the card. Additionally, earn 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply), and 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024. Compared to the tiered earning rates offered with the SavorOne Student card, the QuickSilver Student card has lower rewards earning in certain categories, but has the potential to earn more rewards overall as there is no limit to where the card can earn bonus cash back. Additionally, new Quicksilver Student cardholders can earn an early spend bonus of $50 after spending $100 in the first three months.
Deciding which one of these cards is a better fit for you depends on your purchase habits. If your spending is all over the place, or you don’t want to keep up with the categories where you’re earning bonus rewards, the QuickSilver Student card might be a better choice. However, if you spend heavily on entertainment and dining, you might benefit more from the SavorOne Student card.
Capital One SavorOne Student Card vs. CardName
The CardName card, like the SavorOne Student card, earns tiered rewards on purchases in specific categories, however, these rewards categories rotate quarterly. With the Discover card you can earn 5% cash back on everyday purchases during the school year (and all year long) at different places each quarter, up to the quarterly maximum each quarter that you activate. Some category examples include: grocery stores, restaurants and gas stations.
This card also has a bonus offer for new applicants. New cardholders can earn an unlimited dollar-for-dollar match of all the cash back earned the first year as a cardholder. That means you could turn $50 cash back into $100 automatically at the end of the first year of card ownership.
Capital One SavorOne Student Card vs. CardName
The CardName shares many similarities with the SavorOne Student card. Both cards have no annual fee, no foreign transaction fees, and cash back earned on every purchase. The CardName earns 2% cash back at gas stations and restaurants (on up to $1,000 in combined purchases each quarter), and 1% cash back on all other purchases. For new cardholders, all cash back earned during the first year will be matched, dollar-for-dollar, by Discover.
The CardName is a good card. With great everyday rewards earning, low fees, and a lot of security and travel benefits it is a great card for students who are looking to build their credit while earning some rewards in the process.
Survey Methodology: CardRatings commissioned Op4G in September and October 2022 to conduct surveys among 1,554 cardholders nationwide. CardRatings website analytics from Jan. 1, 2022-Aug. 31, 2022 were used to determine a selection of the most popular cards and additional cards were included to add survey breadth. Responses to each of nine questions were given on a scale of 1-10 and respondents' scores were then averaged under broad topics. To determine the overall score, responses from questions 1-8 were summed and the answer to "How likely are you to recommend this card to a friend, coworker or family member?" was double weighted. "Current Scores" reflect scores from the most recent survey (2022); "Past Scores" reflect scores from the 2021 survey.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Capital One SavorOne Student Cash Rewards Credit Card Compared to Other Cash back Cards
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