Capital One SavorOne Student Card Review 2023

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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.

Capital One SavorOne Student Card Review: Is It the Best Credit Card for You?

That's what makes the Capital One SavorOne Student Cash Rewards Credit Card one of the best student credit cards. 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.

It's offering a Capital One SavorOne Student Cash Rewards Credit 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 excellent credit. All you need is fair credit — a low bar that most college students can clear.

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 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 intro offers, such as matching all your cash back earned in the first 12 months with the Discover it® Student Cash Back card or a Chase Freedom® Student credit card 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.

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.

Capital One SavorOne Student Card Rewards

Capital One SavorOne Student Cash Rewards welcome bonus offer

The Capital One SavorOne Student Cash Rewards Credit Card currently offers a Capital One SavorOne Student Cash Rewards Credit Card. That minimum spending requirement is easy to attain for most students, and it's a decent deal for a student card.

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.

Capital One SavorOne Student Card 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 Card Annual Fee and Other 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 Capital One SavorOne Student Cash Rewards Credit Card 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.

There are other fees for certain scenarios, which are completely avoidable:

• Balance transfer fee: 3% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer you (none for balances transferred at the transfer APR)
• Cash advance fee: Either $3 or 3% of the amount of each cash advance, whichever is greater
• Late payment fee: Up to $40

How the Capital One SavorOne Student Cash Rewards Card Compares

Capital One SavorOne Student vs other Capital One cards for beginners

Capital One SavorOne Student Cash Rewards vs other student credit cards

Capital One SavorOne Student Card Frequently Asked Questions (FAQ)

What credit score do I need to be approved for the Capital One SavorOne Student card?

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.

How old do I have to be to get a student credit card?

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.

Do I have to be a student to get the Capital One SavorOne student card?

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. 

What happens to my Capital One SavorOne student card when I graduate?

After you graduate from school, you'll still get to keep the card, as well as any rewards you've earned.

Methodology: How we reviewed the Capital One SavorOne Student Cash Rewards card

We compared the Capital One SavorOne Student Cash Rewards Credit Card to other student credit cards and starter credit cards, looking closely at factors that included: 

• Ease of use — Is the card's rewards program easy to use and understand? Are there any complicated restrictions to keep track of?
• Earning potential — For cards that earn a welcome bonus and rewards, do the rates and bonus compare well to those of similar cards? Are any of the bonus categories capped, and are they useful for students?
• Benefits — Most student credit cards are pretty light on extra frills. Does the card offer unique benefits you don't often see on similar cards?
• Fees — Student cards usually don't charge an annual fee, but are there other fees to look out for?

You can find out more about our methodology in our guide to how we rate credit cards at Insider.