The
Capital One SavorOne Student Cash Rewards Credit Card is a good credit card for students who want to save money on dining and entertainment. Applying for this card is worth it because it has a
$0 annual fee and gives 3% cash back on groceries, restaurants, streaming services, and various other entertainment expenses. That includes everything from concert tickets to amusement parks. Plus, you can get approved for the
Capital One SavorOne Student Card with limited or no credit history.
One thing this card does not have is a low APR. As a result, you should plan to pay the bill in full every month if you decide to apply. But that’s a good habit to get into as a student anyway.
Capital One SavorOne Student Credit Card Review Highlights
3% cash back on purchases in popular spending categories
The
Capital One SavorOne Student Card gives 3% cash back at restaurants and grocery stores, excluding superstores such as Walmart and Target. Cardholders also earn 3% back on membership fees for all of the most popular streaming services, including Netflix, Hulu and Disney+. That 3% earning rate applies to purchases categorized as entertainment, too, which generally includes concerts, movie theaters, sport event tickets, amusement parks, dance halls, record stores, pool halls and bowling alleys. Plus, you can get 10% back on purchases made through Uber & Uber Eats through 11/14/2024 and 8% cash back on Capital One Entertainment purchases. On top of all that, cardholders can earn 5% back on hotels and rental cars booked through Capital One Travel.
This represent an excellent savings opportunity for students. Some of the best rewards cards don’t offer earning rates this high for even one spending category, let alone so many major ones.
1% cash back on most other purchases
The
Capital One SavorOne Student Card’s base rewards rate of
1% applies to all purchases that aren’t eligible for the bonus rewards. This is standard for a card with rewards rates that vary by spending category. It’s also in line with what the average cash back credit card provides on all purchases.
$50 initial bonus
All a new cardholder needs to do to earn this bonus is spend
$100 within
3 months of opening an account. That’s a pretty good deal.
$0 annual fee & $0 foreign transaction fee
The
Capital One SavorOne Student Card is less expensive than the average credit card, both to own and if you happen to use it abroad.
“No annual fee” should be considered a must-have feature when you’re shopping for a student credit card. “No foreign fee” only matters if you plan to travel to another country or buy something from a foreign merchant online.
Attractive secondary benefits
Credit cards are dropping secondary benefits left and right in an effort to cut costs, but the
Capital One SavorOne Student Card is not among them. It offers a variety of perks, including protection against price drops on recent purchases and extra time added to existing product warranties. 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.
High interest rate
The
Capital One SavorOne Student Card APR is
19.99% - 29.99% (V). For comparison, the average APR among student credit card offers is just
19.67%.
You can and should avoid paying interest at a rate this high. Paying your bill in full every month will prevent the APR from applying in the first place. Plus, if you need a while to pay off big-ticket purchases without interest, students can often qualify for a 0% APR credit card to use instead.
Available to applicants with no credit
The
Capital One SavorOne Student Card is like nearly all other student credit cards in being available to applicants with limited or no credit history. Using this card responsibly, by paying the bill on time every month and keeping your credit utilization
low, will also help you build positive credit history.
