The Capital One SavorOne Student Cash Rewards credit card is an excellent financial tool for building credit that doesn’t require a deposit. However, you must be a college, university, or other student to apply for the card.
As an unsecured credit card designed for students who may have little or no credit history or credit score, the Capital One Savor One Student card provides several benefits often reserved for more experienced credit card users.
Pros
Generous rewards program
No security deposit is necessary
Pre-approval won’t affect your credit score
No annual or foreign transaction fees
Multiple additional benefits are available
Cons
Superstore purchases aren’t eligible for rewards
Must be a student or future student to qualify
Capital One SavorOne Student Cash Rewards Credit Card Features and Benefits
The Capital One SavorOne Student card offers several cardholder perks in addition to its accessibility to students with little or no credit history or who have a low credit score. The card is useful for rebuilding credit profiles or developing a more substantial credit history.
The card provides features and benefits that reward spending on items and activities that college or university students are likely to engage in, such as entertainment, dining, and streaming, among others.
However, like cards designed for more experienced users, such as the Discover it® Cash Back card, the SavorOne Student card also earns excellent rewards on everyday items. Its rewards rival the benefits of some of the best credit cards for gas and groceries.
- APR 19.99% – 29.99%
- No rewards limits
- Must be a student or future student to qualify
- No security deposit needed
- No annual fee
- $50 bonus after $100 of purchases in first 3 months
- Rewards don’t apply at superstores
- Multiple additional card benefits
- 3% cash back on dining, entertainment, streaming, and groceries
- 1% cash back on other purchases
- Up to 8% cash back on select entertainment services
- 5% cash back on hotels and rental cars through Capital One Travel
- Reports to all three major credit bureaus
- Pre-qualification won’t affect credit score
- Mobile app available
- Free credit score access in the mobile app
- No foreign transaction fees
- $3 or 3% cash advance fee
- 4% balance transfer fee
- 630 credit score needed for approval
- Travel accident insurance included
- Late payment fees of up to $40
Capital One SavorOne Student Cash Rewards Credit Card Editorial Rating
Trusted Company Reviews Rating Score for the Capital One SavorOne Student Cash Rewards Credit Card: 9.1
The primary reason to get the Capital One SavorOne Student Cash Rewards credit card may be to establish or even reestablish a credit profile. However, the card offers numerous other reasons for getting one as well. We chose the SavorOne Student card as one of our top picks among the best credit cards with no security deposit for several of its added benefits.
The SavorOne card’s rewards include multiple layers. Students can earn 3% cash back on dining, entertainment, groceries, and streaming services while earning 1% on all other purchases made with the card.
Other cash-back benefits include up to 8% when booking select entertainment services through Capital One and up to 5% cash back on things like hotels and rental cars booked through the company.
However, the one downside to the SavorOne card’s reward program is that the 3% reward benefits aren’t available for items purchased at superstores, such as Walmart® and Target®.
| Benefits | 3% cash back on dining, entertainment, streaming, and groceries / 1% cash back on other purchases / 8% cash back on select entertainment services / 5% cash back on hotels and rental cars through Capital One Travel |
| Intro Offer | $50 cash back after $100 spending in first 3 months |
| APR | 19.99% – 29.99% |
| Annual Fee | $0 |
| Credit Score Requirements | 630 |
About the Capital One SavorOne Student Card
The Capital One SavorOne Student Cash Rewards credit card features a variable-rate APR of between 19.99% and 29.99%, with zero annual fee. The card is one of just a few unsecured credit cards that don’t require a deposit to offer an introductory bonus as well.
Cardholders can earn $50 cash back after spending $100 on the card within the first three months. Students can also often take advantage of Capital One’s occasional balance transfer offers that reduce the normal 4% transfer fee to 0% for limited times—Making it a decent option as a balance transfer card for fair credit.
The SavorOne Student card provides cash-back rewards on numerous items important to college and university students. Things like streaming and entertainment are rewarded with up to 8% cash back, while everyday items like groceries and streaming can earn up to 3%.
Capital One provides its customers with a robust mobile app that allows cardholders to manage their accounts, make payments, and perform several other functions from anywhere.
Student card cardholders can also enjoy all the benefits of being a Capital One Card customer, which includes extended warranty provisions on purchases, 24-hour travel assistance, a concierge service, travel accident insurance, and more.
How to Use the Capital One SavorOne Student Card
Using the Capital One SavorOne Student card is like using any other unsecured credit card. Students and soon-to-be students can apply on the company’s website through Capital One’s pre-qualification tool that allows the customer to see their approval odds with just a soft inquiry on their credit report that won’t affect their score.
After formally applying and receiving approval, customers can use the card anywhere Mastercard is accepted or through Capital One’s online travel or shopping portals.
The best use of the card is to pay off your monthly balance and avoid paying interest on purchases. However, to keep the account in good standing, customers must continue to pay at least the minimum monthly payment amount and avoid charging over their credit limit. Starting credit limits for the SavorOne Student card are generally between $200 and $1,000 for most applicants.
How Do I Check Capital One SavorOne Student Cash Rewards Credit Card Balance?
Cardholders can check their card balance and payment information on Capital One’s website or on the mobile app, where several other useful functions are also available.
Capital One Mobile App
The Capital One mobile app is available for Android and iOS devices on Google Play and the App Store. App users can enjoy a wide range of card and account-related functions on the go or at home. Some app functions include the following items.
- See their payment due date
- Make payments
- See their credit card balance
- Review transactions and history
- Set up recurring payments
- Access customer service
- Receive free credit score updates
Does the Capital One Savor Card Have Foreign Transaction Fees?
The Capital One SavorOne Student Cash Rewards credit card has no associated transaction fees. Students can use the card worldwide without incurring additional costs for the convenience of using the card.
Capital One SavorOne Student Cash Rewards Credit Card Pre-Approval
Capital One offers potential Student card customers the opportunity to pre-qualify themselves on the company’s website. Before formally applying for the card, students and soon-to-be students can use the pre-qualification tool to check their card acceptance approval odds without affecting their credit score.
While pre-qualifying for the SavorOne Student card doesn’t equate to final approval, by inputting some personal and financial information, potential cardholders can learn the likelihood of being approved before formally applying and incurring a hard inquiry on their credit report.
The pre-qualification step generates a soft pull on a credit report that doesn’t affect the credit score and won’t appear on future credit inquiries. Upon formal application for the card, a hard credit pull will occur, which will temporarily have a minor negative effect on the score.
Capital One SavorOne Student Cash Rewards Credit Card Reviews
The Capital One SavorOne Student credit card rates highly among experts and consumers alike. While some reviews award the card just 3.5 of 5 stars, most expert review ratings land well above 4 stars, with some perfect 5-star ratings showing up occasionally.
Customers like the card’s rewards program, convenience, and ease of use when earning and spending their reward points. Critics of the SavorOne card mainly cite customer service problems and unresolved issues.
Why the Capital One SavorOne Student Card Stands Out
Reasons for including the Capital One SavorOne Student card on our list of favorites for credit cards that don’t require a security deposit are many.
Despite only being available to students and students of the near future, for those who qualify, the card offers extraordinary benefits for a financial tool that’s available to those with lower credit scores or who lack sufficient credit history to obtain approval for other credit cards.
What’s the Difference Between Quicksilver and SavorOne?
Capital One offers several credit card products that appeal to different customer demographics. In fact, the company’s SavorOne card series includes a card for students and one for those who aren’t attending school. The Quicksilver card from Capital One is simply a different credit card offered by the company that comes with different benefits and approval odds.
The SavorOne Student card will appeal to those who may not be able to gain approval for other credit cards due to a low credit score or short credit history. However, the card offers some robust rewards for a card with low approval requirements.
On the other hand, the Quicksilver card is designed for more experienced credit card customers. The card offers a cash-back rewards program that can generate up to 1.5% cash back on almost all purchases. However, obtaining approval for the Quicksilver card requires a credit score of 700 and a sufficient credit history.
| Capital One SavorOne® Student Cash Rewards Credit Card | Capital One Quicksilver® | |
| Rewards | 3% cash back on dining, entertainment, streaming, and groceries / 1% cash back on other purchases / 8% cash back on select entertainment services / 5% cash back on hotels and rental cars through Capital One Travel | 1.5% cash back on every purchase |
| Intro Offer | $50 cash back after $100 spending in first 3 months | $200 cash bonus after spending $500 in first 3 months |
| APR | 19.99% – 29.99% (Variable) | 19.99% – 29.99% (Variable) |
| Annual Fee | $0 | $0 |
| Credit Score Requirements | 630 | 700 |
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Frequently Asked Questions
Is the Capital One Student credit card good?
Can I get a Capital One card with no credit?
Are Capital One credit cards Visa or Mastercard?
Do student credit cards expire after graduation?
How do I get a student credit card?
Source
Image Source: capitalone.com
Deane Biermeier
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