Capital One SavorOne Student Cash Rewards Credit Card Review 2024

Capital One’s SavorOne Student Cash Rewards card offers students an opportunity to earn rewards in areas where students are likely to spend their money: 10% cash back on purchases made through Uber & Uber Eats through 11/14/2024, 3% cash back on dining, entertainment, popular streaming services and grocery stores (which excludes superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases. The card also carries no annual fee and charges no foreign transaction fees, making it a good choice for study abroad or international students.

The SavorOne Student Cash rewards card’s benefits, perks and conveniences are impressive even if they were offered on a card not marketed just to students. The unlimited reward earning potential of several broad, often-used categories and the additional protections available through Mastercard makes this a top pick among student credit cards. But a key thing to remember with this card—and any card that earns rewards—is that if you carry a balance, the interest charges will outweigh the value of any rewards earned.

• 10% cash back on purchases made through Uber & Uber Eats through 11/14/2024, 3% cash back on dining, entertainment, popular streaming services and grocery stores (which excludes superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases
• $0 annual fee
• No foreign transaction fees
• Select your own due date
• $0 fraud liability for unauthorized charges if your card is ever lost or stolen

Earning Rewards

Rewards with the Capital One SavorOne Student Cash Rewards card are earned automatically on eligible purchases. An unlimited 10% cash back on purchases made through Uber & Uber Eats through 11/14/2024, 3% cash back on dining, entertainment, popular streaming services and grocery stores (which excludes superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases.

Redeeming Rewards

Rewards earned with the SavorOne Student do not expire for the life of the account and can be redeemed in myriad ways: for cash, purchases at Amazon.com, gift cards or PayPal purchases. You can also redeem your rewards for travel through CapitalOneTravel.com.

Rewards Potential

In order to determine the rewards potential of the Capital One SavorOne Student Cash Rewards Card, Forbes Advisor used a number of reputable sources to determine what the typical college student spends in a year.

The Capital One SavorOne Student Cash Rewards Card earns 3% cash back on dining, entertainment, popular streaming services and groceries. The typical college student spends $1,574 per year on dining and $1,574 on groceries for a total of $94.44 cash back. Remaining spending of $10,492 earns $104.92 for a total of $199.36 cash back each year.

Terms, conditions and exclusions apply to card benefits. Refer to your Guide to Benefits for more details on coverage availability.

• Extended Warranty: Automatically doubles the original manufacturer’s/store’s warranty on eligible purchases.
• Travel Accident Insurance: Get automatic insurance for a covered loss at no extra charge when you use your credit card to purchase your fare.
• $0 Fraud Liability: Cardholders have $0 fraud liability for unauthorized charges if their card is ever lost or stolen.
• Capital One Travel Benefits: Redeem your rewards for travel via the CapitalOneTravel.com

Interest Rates

• Regular APR: 19.99% - 29.99% (Variable)
• Purchase Intro APR: N/A
• Balance Transfer Intro APR: N/A

Fees

• Annual Fee: $0
• Balance Transfer Fee: Balance Transfer Fee applies to balances transferred at a promotional rate
• Cash Advance: 5% of the amount of the cash advance, but not less than $5
• Foreign Purchase Transaction Fee: None

Capital One SavorOne Student Cash Rewards Credit Card vs. Bank of America® Travel Rewards credit card for Students

For those jet-setting or border-crossing students, the Bank of America® Travel Rewards credit card for Students is a great alternative to the SavorOne Student card for its similar lack of foreign transaction fees. Earning a flat-rate 1.5 points per dollar on all purchases everywhere, every time with no expiration on points as long as your account remains open, the Bank of America Travel Rewards card offers elevated rewards in different areas, which means the right pick between the two will depend on your spending patterns.

Capital One SavorOne Student Cash Rewards Credit Card vs. Discover it® Student Cash Back

The Discover it® Student Cash Back offers students a learning experience with capped, quarterly rotating spend categories. The card earns 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations and more, up to the quarterly maximum once activated. Plus, automatically earn unlimited 1% cash back on all other purchases. The card also has a unique welcome offer: Unlimited Cashback Match™ - Discover will match all the cash back you’ve earned at the end of your first year. There's no minimum spending or maximum rewards. Consider your personal spending patterns to determine if this earning structure will be more or less beneficial than an unlimited 3% cash-back reward for spending within the SavorOne Student’s specific reward categories.

Capital One SavorOne Student Cash Rewards Credit Card vs. Chase Freedom® Student credit card*

The Chase Freedom® Student credit card is no longer available to new applicants. Please see the issuer’s website for more information on available offers. Card details have been collected independently by Forbes Advisor and have not been reviewed or approved by the card issuer.

For those who want perks and are less considered with  cash-back rewards, the Chase Freedom® Student credit card* offers an array of comparatively large benefits.

Instead of the SavorOne Student’s unlimited 3% cash back in specific categories and 1% on all other purchases plus auto rental collision damage coverage and other unique benefits, the Chase Freedom® Student credit card* offers only the 1% cash back on all purchases plus trip cancellation insurance and purchase protection. The cards shared similar benefits like extended warranty protection and zero fraud liability. Both are from larger issuers with the capacity to offer similar convenience-related perks like online banking and mobile wallet support.

For those with a complete understanding of credit cards, credit and financial responsibility, this card has significant reward potential. For those who aren’t yet comfortable with credit card spending or who aren’t confident in their ability to responsibly manage on-time payments, we can’t in good faith recommend this card. The APR demands special caution for those new to credit cards and credit card reward-earning. To see other options, check out our list of the Best Student Credit Cards.

To view rates and fees for Capital One SavorOne Student Cash Rewards Credit Card please visit this page.
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.