Capital One SavorOne Student Cash Rewards Credit Card Review [2024]: Build Your Credit While Earning Cash Back

CREDIT CARDS - STUDENT CREDIT CARDS
The SavorOne Student Card checks a lot of boxes for students beginning their credit journey and learning about credit card rewards.
Updated May 21, 2024
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Student credit cards are typically designed to have less strict requirements and fewer benefits than many other types of credit cards — primarily because they’re meant to be starter cards for students building their credit history. But cards such as the Capital One SavorOne Student Cash Rewards Credit Card flip the script by offering a product that provides excellent earning potential and benefits without strict qualification requirements.

In this SavorOne Rewards for Students card review, you’ll learn about this card’s benefits and drawbacks, as well as how to use it to earn and redeem cashback rewards. This will help you decide whether the SavorOne Rewards for Students is the best fit for you.

Earn Unlimited Cash Back

Capital One SavorOne Student Cash Rewards Credit Card
5.0

Capital One SavorOne Student Cash Rewards Credit Card

Current Offer

Earn a one-time $50 cash bonus after spending $100 in the first 3 months

Annual Fee

$0

Rewards Rate

10% cash back on purchases made through Uber & Uber Eats (through 11/14/2024); 8% cash back on Capital One Entertainment; 5% on hotels and rental cars booked through Capital One Travel; 3% on dining, entertainment, streaming services, and grocery stores (excluding superstores such as Walmart® and Target®); and 1% on all other purchases

Benefits and Drawbacks
Card Details

In this Capital One SavorOne Rewards for Students Credit Card review

Who should get the SavorOne Rewards for Students Card?

The SavorOne Rewards for Students card is only for students who are 18 or older. Capital One considers a student, for this card, as anyone who is enrolled or about to be enrolled within three months of applying at an accredited university, college, or another type of higher education institution. Keep in mind, you have to meet the student requirements to qualify for this card, but you won’t necessarily lose access to using the card after graduating or when you’re no longer a student.

This card would likely be a good fit for students who want to build credit and benefit from its earning potential. You typically need good or fair credit to qualify, which fits many students who are just starting their credit-building journey.

In addition, the $0 annual fee and no foreign transaction fees are helpful for keeping costs to a minimum, including if you plan to travel while in college. But credit card beginners should take care with this card’s high APR. This isn’t a card you want to owe money given its high interest rate.

Card basics

Card type Student
Credit card issuer Capital One
Credit card network Mastercard
Annual fee $0
Early spend bonus None
Reward rate 10% cash back on purchases made through Uber & Uber Eats (through 11/14/2024); 8% cash back on Capital One Entertainment; 5% on hotels and rental cars booked through Capital One Travel; 3% on dining, entertainment, streaming services, and grocery stores (excluding superstores such as Walmart® and Target®); and 1% on all other purchases
Recommended credit score Good, Fair
Foreign transaction fee None

SavorOne Rewards for Students Card benefits and perks

  • High cashback rate: Cardholders earn 10% cash back on purchases made through Uber & Uber Eats (through 11/14/2024); 8% cash back on Capital One Entertainment; 5% on hotels and rental cars booked through Capital One Travel; 3% on dining, entertainment, streaming services, and grocery stores (excluding superstores such as Walmart® and Target®); and 1% on all other purchases. These earning categories can be an ideal match for students because they represent common areas where you might typically spend money.
  • No annual fee: The SavorOne Rewards for Students has a $0 annual fee, so you don’t have an additional annual cost to worry about as a college student.
  • No foreign transaction fees: You won’t have to pay an added cost on foreign purchases, which could come in handy if you’re studying abroad.
  • Automatic review: Capital One will automatically consider you for a credit line increase after six months.
  • Extended warranty protection: Eligible purchases have their warranty extended with this benefit.
  • Travel accident insurance: Eligible losses are covered when you use your credit card to pay for your fare.
  • Concierge service: Receive complimentary concierge service for dining, entertainment, and travel. 
  • Capital One Entertainment: Receive special access to sporting, music, and dining events through the Capital One Entertainment portal. You have the option to use your rewards, your card, or a combination of the two to book tickets.
  • Important alerts: Receive account alerts from Capital One assistant Eno, including potential duplicate purchase or recurring bill increases. Also, receive alerts about changes to your TransUnion or Experian credit reports and free credit monitoring with CreditWise.

Drawbacks to the SavorOne Rewards for Students Card

  • No intro balance transfer or purchase APR: Many credit cards provide a 0% introductory APR offer for the first year or more after account opening, often for purchases or balance transfers, but there’s no such offer with this card. Instead, you'll get the regular APR. For cards with these intro APR offers, check out our list of the best balance transfer cards.

Earning and redeeming

Best ways to earn

The best way to earn cash back with the SavorOne Rewards for Students Card is by using it as much as possible, especially in categories where it earns bonus rewards.

For example, the earning rate for dining, entertainment, popular streaming services, and at grocery stores (excluding superstores such as Walmart® and Target®) is 3%, but for all other purchases it’s only 1%. So you can earn three times as much if you use the SavorOne Student on purchases that fall within these bonus categories.

Categories Rewards rate
Purchases made through Uber & Uber Eats (through 11/14/2024) 10%
Capital One Entertainment 8%
Hotels and rental cars booked through Capital One Travel 5%
Dining, entertainment, popular streaming services, and at grocery stores (excluding superstores such as Walmart® and Target®) 3%
All other purchases 1%

Here’s a breakdown of what counts as an eligible purchases for the bonus categories on the SavorOne Rewards for Students Card:

  • What counts as dining? Eligible purchases at restaurants, cafes, bars, fast-food restaurants, bakeries, and lounges.
  • What counts as entertainment? Eligible purchases at movie theaters, amusement parks, tourist attractions, aquariums and zoos, record stores, bowling alleys, and more. Golf courses and collegiate sporting events don’t count.
  • What counts as streaming? Eligible streaming services include Netflix, Hulu, Disney+, and more. Prime Video, AT&T TV, and Verizon Fios On Demand are excluded.
  • What counts as a grocery store? Eligible purchases at supermarkets, specialty markets, meat lockers, and dairy product stores. Superstores like Walmart and Target are excluded.

Maximizing your redemptions

The SavorOne Rewards for Students Card offers multiple ways to redeem your cash back, including:

  • Statement credits
  • Mailed check
  • Cover previous purchases
  • Gift cards
  • Cover PayPal purchases
  • Shop with Points at Amazon.com
  • Capital One Entertainment

Capital One doesn’t publicly release its reward redemption rates, but most cashback credit cards offer the best rates when you redeem your rewards for the option(s) that most equate to actual cash back — which in this case would be for statement credits or a mailed check. You can use your rewards for gift cards or shopping with PayPal or Amazon, but you run the risk of getting less value for your cash back.

SavorOne Rewards for Students Card FAQs

Is the SavorOne Rewards for Students Card a good card?

The SavorOne Rewards for Students Card can be one of the best cashback credit cards for students who want to build their credit while earning valuable rewards. It has a $0 annual fee, no foreign transaction fees, and provides bonus cash back in common spending categories for students — including dining, entertainment, popular streaming services, and at grocery stores (excluding superstores such as Walmart® and Target®).

What credit score do you need for the SavorOne Rewards for Students Card?

You’ll likely need a good or fair credit score to qualify for the SavorOne Rewards for Students Card. According to the FICO scoring model, a good credit score starts at 670, whereas a fair credit score starts at 580.

Do note that numerical credit scores are provided as guidelines only and are not a guarantee of approval.

How do you redeem cash back with the SavorOne Rewards for Students Card?

Cash back can be redeemed as a statement credit, as a mailed check, to cover previous purchases, as a gift card, or to make purchases on Amazon. In this case, redeeming your cash back for a statement credit or mailed check is likely to offer you the most value.

What are some alternatives to the SavorOne Rewards for Students Card?

If the SavorOne Rewards for Students Card doesn’t seem like the right fit for you, consider these other options for students, some of which offer sign-up bonuses and other valuable benefits:

Other cards to consider

The SavorOne Rewards for Students Credit Card offers helpful benefits and rewards, but it might not be the best credit card for everyone. For other options, consider the Chase Freedom Rise℠ and the Capital One QuicksilverOne Cash Rewards Credit Card.

The Chase Freedom Rise has a $0 annual fee and offers 1.5% cash back on all purchases. While it's marketed as a cashback card, it actually earns Chase Ultimate Rewards program points, which are among the most valuable credit card rewards available. With this card, you can also earn $25 statement credit for enrolling in automatic payments within the first three months of account opening. 

The Capital One QuicksilverOne has a $39 annual fee and offers unlimited 1.5% cash back on every purchase; plus 5% unlimited cash back on hotels and rental cars booked through Capital One Travel. The annual cost is something to consider, but your potential earnings could offset the fee each year if you earn enough. 

The best part of flat-rate earnings is you don’t have to worry about tracking bonus categories — everything you purchase, other than hotels and rental cars booked through Capital One Travel, earns 1.5% cash back. So if your typical spending habits don’t align with the cashback categories on the SavorOne Student Card, the QuicksilverOne might be a better option for you.

For more details, check out our Capital One QuicksilverOne review.

Earn Unlimited Cash Back

Capital One SavorOne Student Cash Rewards Credit Card
5.0

Capital One SavorOne Student Cash Rewards Credit Card

Why We Like It

Earn a one-time $50 cash bonus after spending $100 in the first 3 months

See how these cards compare:

Chase Freedom Rise℠
Chase Freedom Rise℠
  • $0 annual fee
  • Earn 1.5% cash back on all purchases
  • Earn $25 statement credit for enrolling in automatic payments within the first three months of account opening
Capital One QuicksilverOne Cash Rewards Credit Card
Capital One QuicksilverOne Cash Rewards Credit Card
  • 1.5% unlimited cash back on every purchase, every day
  • Plus earn unlimited 5% unlimited cash back on hotels and rental cars booked through Capital One Travel
  • Consideration for a higher credit line as quickly as 6 months after account opening
  • Unlimited access to CreditWise: a free monitoring tool that won't damage your score

Author Details

Ben Walker, CEPF, CFEI® Ben Walker, CEPF, CFEI®, is credit cards specialist. For over a decade, he's leveraged credit card points and miles to travel the world. His expertise extends to other areas of personal finance — including loans, insurance, investing, and real estate — and you can find his insights on The Washington Post, Debt.com, Yahoo! Finance, and Fox Business.

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