Is the Capital One SavorOne Student Cash Rewards Credit Card worth it?
The Capital One SavorOne Student Cash Rewards Credit Card is definitely worth it for college students with fair credit. With the SavorOne student card, you can get unlimited cash-back rewards, a welcome bonus and a range of travel and entertainment perks — all with a $0 annual fee.
It’s important to note that this Capital One card comes with a high annual percentage rate (APR). However, if you manage the card wisely, it can be an effective way to earn rewards and build your credit.
Rewards
The SavorOne student card rewards you for every purchase. You can redeem those rewards for cash or use them to make purchases through Capital One’s portals and partners.
Welcome bonus
If you spend $100 in the first three months after you open a SavorOne credit card, Capital One will reward you with a $50 cash bonus. This bonus is available to new account holders.
Earning rewards
The Capital One SavorOne Student Cash Rewards Credit Card offers cash-back rewards. There’s no cap on earnings, so you can accumulate an unlimited amount of cash back during the lifetime of the account.
Here’s a look at what you’ll earn for each purchase category:
- 8% on Capital One Entertainment
- 5% for hotel and rental car bookings in Capital One Travel
- 3% on restaurants, grocery stores, streaming services and entertainment
- 1% on all other purchases
With SavorOne rewards for students, you can earn more when you make purchases in categories with elevated earnings rates. With this rewards credit card, buy $200 concert tickets through Capital One Entertainment, for example, and you’ll get $16 cash back.
Before you start shopping, it’s important to note that Capital One has a few exclusions to these rewards. The grocery store category does not include superstores, which means that if you shop for food at Target or Walmart, you won’t earn 3% back. In the streaming category, Capital One excludes AT&T TV and Amazon Prime Video; fitness subscriptions and audiobook services are also excluded. Likewise, the entertainment category does not include college sporting events, cable service or golf courses.
Do you have friends or family members who are searching for a new card? If you refer them through your Capital One account, you can earn referral bonuses of up to $500 every year.
Redeeming rewards
The rewards you earn with the SavorOne student card never expire. You can redeem them as they appear in your account or let them build up over time.
When you’re ready to redeem rewards, there are a few ways to do so:
Capital One SavorOne Student Cash Rewards Credit Card benefits
In addition to rewards, the SavorOne student credit card comes with a variety of benefits. Some are provided directly by Capital One. Others come through Mastercard.
Travel perks
With the SavorOne card for students, you’ll earn travel benefits such as:
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Capital One Travel. Your rewards card grants access to the Capital One Travel portal, where you can book hotels, rental cars and flights. You can also use tools that predict prices and help you determine the best time to buy.
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Travel accident insurance. If you use your card to buy travel, the trip is automatically covered by Capital One insurance. That way, you could be covered if you’re injured during the trip.
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Complimentary concierge service. The concierge can provide round-the-clock help when you’re booking travel, entertainment or dining. You might use it to make restaurant reservations on spring break, for example.
Protections
Some protections included with the SavorOne student card include:
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Extended warranty. Buy a qualifying item with your SavorOne card and Capital One will extend the manufacturer’s original warranty.
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Price drop protection. Book in the Capital One Travel Portal, and you can get a credit of up to $50 if the price of your flight drops within 10 days of your booking date. And if you find a better price somewhere else within 24 hours, Capital One will make up the difference with a travel credit.
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$0 fraud liability. With this protection, you don’t need to worry about paying for unauthorized charges.
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CreditWise. Keep tabs on your credit profile with this included tool, which allows you to check your credit score, get alerts about changes to your credit report and find out when your data appears on the dark web after a data breach.
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Eno. The Capital One digital assistant lets you know when unusual charges appear on your card and sends helpful insights to help you manage your money. It also provides automatic customer service 24/7 via a chat function.
Other benefits
As a Capital One SavorOne student cardholder, you’ll also get access to:
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Capital One Shopping. This service helps you find the best price on your online purchases. It can provide promo codes for websites, ensure that you earn rewards and let you know when the price of an item drops.
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Capital One Cafe discounts. If you happen to visit a Capital One Cafe, pay for your order with your SavorOne card and get a 50% discount on beverages.
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Capital One Dining. In the Capital One Dining portal, you can get exclusive restaurant reservations and gain access to special food-related events.
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Capital One Entertainment. This Capital One ticketing platform is a convenient spot to book tickets and earn more rewards. It also helps you find events, VIP packages and tickets that are only available to cardholders.
Fees, rates & limit
When you’re building your credit as a student, it’s critical to understand the rates and fees for each credit card you have. Let’s take a look at the terms of the Capital One SavorOne Student Cash Rewards Credit Card.
Fees
One of the biggest advantages of the SavorOne student card is that it has no annual fee. Capital One doesn’t charge foreign transaction fees, which can save you money if you’re planning to study abroad or take an international spring break.
Capital One does not typically offer an intro APR for this credit card. If they do and you decide to transfer a balance from another card during the promo period, you’ll be charged a fee that equals 4% of the transferred amount. Outside of any promotional period that may be offered, there’s no fee to transfer a balance. However, the amount will be charged at the transfer APR rate.
Thinking about using your card at an ATM to get a cash advance? Consider it carefully; you’ll be charged either $5 or 5% of the amount (whichever is more) to make the withdrawal, and the advance will also come with a higher APR.
Interest rates
The SavorOne card has a high interest rate. Depending on your credit profile and the information you provide in your application, your variable APR will be 19.99%, 26.24% or 29.99%. The same goes for your transfer APR.
Here’s an overview of the different variable APRs available with the SavorOne student credit card:
Regular APR |
Purchase Intro APR |
Balance Transfer Intro APR |
Balance Transfer APR |
Cash Advance APR |
19.99%, 26.24% or 29.99% |
N/A |
N/A |
19.99%, 26.24% or 29.99% |
29.99% |
Credit limit
The credit limit on your SavorOne student card will vary based on factors such as your credit score, income, debt and other information you provide. If you’re new to credit cards, the limit may be low. However, Capital One typically reviews your account periodically — potentially in as few as six months — and considers you for a credit limit increase. You can also call to request an increase. Either way, an increase is not guaranteed.
How the Capital One SavorOne Student Cash Rewards Credit Card compares
In the world of student credit cards, the Capital One SavorOne is a good option. With its $0 annual fee, unlimited rewards and higher earning potential in popular categories like entertainment and restaurants, it can help you earn more on things you’re already buying.
Getting approved might be a little more challenging than it is for other student credit cards. Many of these products don’t require you to have a credit score; the SavorOne requires you to have at least some history with credit. This might include a personal loan in your name or authorized user status on a parent’s credit card. And while Capital One offers a welcome bonus, it isn’t as generous as some other cards.
▶︎ See our picks: Best credit cards for fair credit
Capital One SavorOne Student Cash Rewards Credit Card vs. Capital One Quicksilver Student Cash Rewards Credit Card
Like the Capital One SavorOne Student card, the Capital One Quicksilver Student Cash Rewards Credit Cardis a cash-back rewards card with a $0 annual fee. The two cards also have identical welcome offers.
The primary difference between these two Capital One products is the way they earn rewards. While the SavorOne has different earnings rates for a variety of categories, the student Quicksilver card offers a flat rate of 1.5% for all purchases. It might be a good option if you don’t want to keep track of rewards categories or if you don’t spend much on travel, entertainment and restaurants.
Is the Capital One SavorOne Student Cash Rewards Credit Card right for me?
The SavorOne student card might be a good fit if you’re a college student and you want to earn cash-back rewards as you learn how to build credit. You should also have at least some credit history, as this will help increase your odds of approval.
To see the biggest benefits from this teen credit card, particularly when it comes to building your credit, it’s a good idea to pay off the balance every month. With responsible use, you may gain access to a higher credit limit over time.
If you’re still unsure if the SavorOne student card is the best credit card for you, you may want to consider these other options:
How do I apply for the Capital One SavorOne Student Cash Rewards Credit Card?
You can learn about the Capital One SavorOne Student Cash Rewards Credit Card through the buttons at the top or bottom of this page and apply online.
To qualify for this card, you must be an enrolled or admitted student. It doesn’t matter if you’re a full-time or part-time student, but the university or community college must be accredited. In addition, you’ll need fair credit. According to Capital One, this means that in the past three years, you’ve had a different credit card or another type of credit.
When applying, you’ll need to provide a variety of details:
- Contact information
- Personal identifying details
- Social Security number (SSN) or individual taxpayer identification number (ITIN)
- Employment information
- Educational details
Capital One’s SSN/ITIN requirement may exclude some international students.