Capital One SavorOne Student Cash Rewards Credit Card
source link: https://www.businessinsider.com/personal-finance/capital-one-savorone-cash-rewards-student-credit-card-review
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Capital One SavorOne Student Cash Rewards card review: $100 welcome bonus, 3% back for everyday spending, and a free Uber One membership
Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
Capital One SavorOne Student Cash Rewards Credit Card
Details
Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.The Capital One SavorOne Student Cash Rewards Credit Card is a great pick for students who spend a lot on food and going out, because it earns 3% cash back on dining, groceries, streaming, and entertainment. You'll even get 10% back on Uber and Uber Eats spending through November 14, 2024.
And for a limited time, it's offering a welcome bonus of a $100 cash bonus once you spend $100 on purchases within 3 months of account opening.
Review: Is the Capital One SavorOne Student Card the best credit card for you?
There are plenty of questions when you head off to college. You don't know what you'll major in. Perhaps you don't know your roommate. Maybe you're not sure if you'll feel okay away from the comfort of home. One thing's for certain, anyway: You'll need to eat.
That's what makes the Capital One SavorOne Student Cash Rewards Credit Card one of the most compelling credit card offers for college students. The card earns 3% cash back at grocery stores and restaurants, cafes, bars, and lounges — basically most places that sell food with the exception of Walmart and Target. You'll also get a free Uber One membership (a monthly $9.99 value) and 10% back on Uber purchases — including Uber Eats — through November 14, 2024. If you use either of these services with regularity, this card will save you big.
While this card doesn't usually come with a welcome bonus offer, it's offering a $100 cash bonus once you spend $100 on purchases within 3 months of account opening, and it's your last chance to apply.
That minimum spending requirement is easy to attain for most students, and it's a good deal for a no-annual-fee card.
Additionally, you'll earn 3% back when you spend on:
- Entertainment: Movies, professional sporting events (collegiate tickets are not included, unfortunately), amusement parks, record stores, bowling alleys, and more.
- Streaming services: Platforms like Netflix, Hulu, and Disney+
Outside of those bonus categories, you'll earn a standard 1% cash back on every other purchase you make with the card, with the exception of hotels and car rentals booked through Capital One Travel (which earn 5% cash back), and Capital One Entertainment purchases (which earn 8% cash back).
The bonus structure is generous and puts this card on the same level as the bank's traditional Capital One SavorOne Cash Rewards Credit Card, which is typically only available to people with established credit. All you need is fair credit — a low bar that most college students can clear.
It's important to note that if you do have good credit, there are plenty of excellent no-annual-fee cards that can offer more perks including a bigger welcome bonus.
Additionally, the card comes with built-in benefits to use while you're earning extra cash back. A concierge service is available when you're making dinner reservations, looking for tickets to a show, or booking travel. Cardholders also get access to the new Capital One Dining and Capital One Entertainment platforms.
Keep in mind this card doesn't always offer a welcome bonus, and you may want to compare it to other cards with into offers, such as matching all your cash back earned in the first 12 months with the Discover it® Student Cash Back card or a $50 Bonus after first purchase made within the first 3 months from account opening on the Chase Freedom® Student credit card.
Still, the Capital One SavorOne Student Cash Rewards Credit Card is an excellent option to earn rewards while laying the foundation for your credit — a key piece of your success, no matter what you do after graduation.
-
Capital One SavorOne Student Cash Rewards Credit Card
-
Chase Freedom® Student credit card
-
Discover it® Student Cash Back
-
Capital One Quicksilver Student Cash Rewards Credit Card
-
Discover it® Student chrome
-
Deserve® EDU Mastercard for Students
-
Journey Student Rewards from Capital One
-
Petal® 2 "Cash Back, No Fees" Visa® Credit Card
We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
How to earn rewards from the Capital One SavorOne Student card
Before you start using the Capital One SavorOne Student Cash Rewards Credit Card, you should have a full understanding of which merchants fall into the 3% bonus structure. Here's a rundown of some of the key points to remember:
- Groceries: All supermarkets, specialty markets, dairy stores, and meat lockers count as grocery stores. However, you will not earn an accelerated bonus for buying your food at Walmart or Target. Instead, those purchases will earn the standard 1% cash back.
- Dining: There aren't really exclusions to note here. Anytime you're eating outside of your apartment or dorm, this card should earn 3% cash back.
- Streaming: Most streaming services are included here, but there are a few exceptions. Prime Video, AT&T TV, Verizon FIOS On Demand, and all audiobook subscription services don't count.
- Entertainment: This includes a wide range of fun days and evenings out — everything from aquariums to dance halls. Golf courses and collegiate sports events, however, do not earn the bonus.
There are no minimums to the amount of cash back you can earn. And the grocery-dining combination can be especially rewarding. Let's say you spend $300 in these categories each month — over the course of the year, you would earn $108 cash back.
Again, you'll also earn 5% cash back on hotels and car rentals booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 10% cash back on Uber and Uber Eats purchases through November 14, 2024.
How to use rewards from the Capital One SavorOne student card
You can request a statement credit to pay off some of the purchases on your card, or request a physical check to be sent to your mailbox. There's no minimum redemption amount when you redeem this way. Capital One also offers the option to turn cash back into gift cards, but the redemption rates vary.
Newer redemption options include using rewards for things like concert and sporting event tickets through Capital One Entertainment, or cashing in rewards for flights, hotels, and car rentals via the Capital One Travel portal.
Benefits and features
This card comes with some notable perks — a somewhat surprising bit of news since most student cards are bare-bones offerings. You'll enjoy some of the features that come with cards designed for bigger spenders than college students.
Free Uber One membership
In addition to the 10% back you'll earn for Uber and Uber Eats spending, you can also activate a free Uber One membership valid through November 14, 2024. You'd otherwise have to pay $9.99 per month for this subscription. It offers:
- Unlimited $0 delivery fees on eligible food, groceries, and other Uber Eats orders (order must be at least $15 from non-grocery stores, and at least $30 from grocery stores)
- Up to 10% off eligible orders with Uber Eats (grocery orders do not qualify)
- Up to 5% off eligible rides with Uber (shared rides or rides booked 30 minutes or more in advance do not qualify)
- Access to exclusive member-only perks and promotions
This is a $240 value if you'll use it — a stunning perk to be on a student credit card.
Price protection
If you find a lower price on a new item paid for with your Capital One SavorOne Student Cash Rewards Credit Card within 120 days of purchase, you may be reimbursed for the difference.
Extended warranty
The Capital One SavorOne Student Cash Rewards Credit Card automatically doubles the original manufacturer's or store's warranty on eligible purchases paid for with the card.
Car rental coverage
When you use the Capital One SavorOne Student Cash Rewards Credit Card to pay for your eligible rental car, you may be covered for physical damage and theft of the vehicle.
Roadside dispatch
Capital One SavorOne Student Cash Rewards Credit Card cardholders get access to a 24-hour toll-free dispatch line that can help arrange services like towing, fuel delivery, and more for a flat fee.
Concierge services
When you're looking for reservations for dinner, trying to find tickets to that summer music festival, or planning a vacation, you can take advantage of 24/7/365 concierge assistance.
Travel accident insurance
If you purchase your fare with your Capital One SavorOne Student Cash Rewards Credit Card, you may get insurance coverage for eligible losses.
Capital One Travel
Until recently, Capital One Travel was only available to those with certain miles-earning Capital One cards, but that's no longer the case. Capital One SavorOne Student Cash Rewards Credit Card cardholders can access the platform and use rewards (or their card) to book flights, hotels, and rental cars. Hotel and car rental purchases earn 5% cash back, and cardholders also get access to cool features including price prediction, price watch, and a price match guarantee.
Capital One Entertainment
Capital One Entertainment is a new feature that allows cardholders to book exclusive experiences, sporting events, concert and theater tickets, and festivals. You can redeem rewards from your card for these events (and some events will only let you use rewards to pay), or for some experiences, use cash or a combination of rewards and cash.
Capital One Dining
With the Capital One Dining platform, you can snag hard-to-get reservations at high-end restaurants and even input information like dietary preferences and special events like birthdays into your profile. While this service is currently only available in a handful of major cities, it can be handy if you're having trouble finding restaurant availability.
Capital One CreditWise
Capital One CreditWise is a free program that offers credit and identity theft monitoring. It's available to anyone — you don't need the Capital One SavorOne Student Cash Rewards Credit Card to enroll — but it's a handy feature, especially if you're a student just starting out with credit and want to keep an eye on changes to your credit score.
Capital One SavorOne Student Cash Rewards Credit Card
Details
Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Fees and costs
Like most student credit cards, there is no annual fee on this card. There are no foreign transaction fees, either, which is crucial if you're thinking of spending a semester abroad in college.
The most important piece of using this card is paying your balance in full each month. The APR of 17.99% - 27.99% Variable will quickly eat into any cash back rewards you accumulate. College is a pivotal time to build your credit history. Put yourself in the magna cum laude personal finance category by avoiding the high-priced debt that could haunt you long after graduation.
Comparison: Capital One SavorOne Student Cash Rewards vs other Capital One cards
Capital One SavorOne Student Cash Rewards Credit Card | Capital One Quicksilver Student Cash Rewards Credit Card | Journey Student Rewards from Capital One | |
Annual fee | |||
Rewards rate | 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through November 14, 2024 8% cash back on Capital One Entertainment purchases 5% cash back on hotels and car rentals booked through Capital One Travel 3% cash back on dining 3% cash back on entertainment, 3% cash back on popular streaming services 3% cash back at grocery stores (excluding Walmart and Target) 1% cash back on all other purchases | 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through November 14, 2024 5% cash back on hotels and car rentals booked through Capital One Travel 1.5% cash back on all other purchases | 5% cash back on hotels and rental cars booked through Capital One Travel 1% cash back on all purchases (1.25% cash back if you pay on time that month) |
Welcome bonus | $100 cash bonus once you spend $100 on purchases within 3 months of account opening | $100 cash bonus once you spend $100 on purchases within 3 months of account opening | |
Card benefits | Price protection*** Extended warranty*** Car rental coverage*** Roadside dispatch*** Travel accident insurance*** Complimentary concierge services Free credit monitoring with CreditWise from Capital One Complimentary Uber One membership, through November 14, 2024** | Price protection*** Extended warranty*** Car rental coverage*** Roadside dispatch*** Travel accident insurance*** Complimentary concierge services Free credit monitoring with CreditWise from Capital One | Free credit monitoring with CreditWise from Capital One |
Review |
Capital One SavorOne Student Cash Rewards vs other student credit cards
Capital One SavorOne Student Cash Rewards Credit Card | Chase Freedom® Student credit card | Discover it® Student Cash Back | |
Annual fee | |||
Rewards rate | 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through November 14, 2024 8% cash back on Capital One Entertainment purchases 5% cash back on hotels and car rentals booked through Capital One Travel 3% cash back on dining 3% cash back on entertainment, 3% cash back on popular streaming services 3% cash back at grocery stores (excluding Walmart and Target) 1% cash back on all other purchases | 5% cash back (5x points) on Lyft rides through March 2025 1% cash back (1x points) on all purchases | 5% cash back in categories that rotate each quarter on up to $1,500 in combined spending when you activate (then 1%) (from October 1 to December 31, 2022, you can earn 5% cash back at Amazon.com and on digital wallets on up to $1,500 in purchases after enrollment, then 1%) 1% cash back on all other eligible purchases |
Welcome bonus | $100 cash bonus once you spend $100 on purchases within 3 months of account opening | $50 Bonus after first purchase made within the first 3 months from account opening | None, but Discover will match all the cash back you earned after the first 12 months |
Card benefits | Price protection*** Extended warranty*** Car rental coverage*** Roadside dispatch*** Travel accident insurance*** Complimentary concierge services Free credit monitoring with CreditWise from Capital One Complimentary Uber One membership, through November 14, 2024** | $20 annual Good Standing Reward Trip cancellation/interruption insurance Purchase protection Extended warranty Free credit score with Chase Credit Journey $10 per month Gopuff credit | 0% intro APR for 6 months on purchases (then 16.74% - 25.74% Variable) Free FICO score No late payment fee on your first late payment (then up to $41) |
Review |
Capital One SavorOne Student Cash Rewards card frequently asked questions (FAQ)
Capital One says that you need at least "fair" credit to qualify for the Capital One SavorOne Student Cash Rewards Credit Card. According to Capital One, fair credit means you've either defaulted on a loan in the past five years, or you have limited credit history and have only had your own credit card or other credit for less than three years (including students, people new to the US, or authorized users on someone else's credit card).
If you're looking at your FICO score, fair credit is considered anything between 580 and 669. Most students just starting out will likely fall into the fair credit range, which makes it easier to get approved for this card than non-student credit cards.
To get your own credit card, you'll need to be at least 18 years old, and if you're between 18 and 20, you'll also need to show proof of income or have a co-signer to qualify.
If you're not yet 18 but want a credit card, another option is to become an authorized user on a family member's or trusted friend's credit card. This can also have a positive effect on your credit history if the primary cardholder has a good credit score.
Yes, you must be a college student currently enrolled (or admitted and planning to enroll in the next three months) at an accredited university, community college, or other higher education institution.
After you graduate from school, you'll still get to keep the card, as well as any rewards you've earned.
Top Offers From Our Partners
A high-yield cash account that earns 3.30% annual percentage yield. No account fees. APY as of 11/14/2022.
For rates and fees of Discover it® Student Cash Back, please click here.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
NOW WATCH:
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK