2021 Review: Capital One SavorOne Student Cash Rewards Card – Cash Back for College Essentials
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The SavorOne Student Cash Rewards is a great choice for current and prospective college students. You can earn unlimited rewards for things every student loves: food, streaming, and entertainment. There are some handy perks too, and you’ll learn how to use a credit card responsibly.
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Our Rating: 5 Out of 5 Stars
We give the Capital One SavorOne Student Cash Rewards Credit Card 5 out of 5 Stars. It’s one of the best choices for current and future students. You can earn unlimited rewards for a variety of popular purchases while learning how to properly manage a credit card.
Why We Like It
- 3% cash back for groceries, dining, entertainment, and streaming
- Unlimited rewards
- No annual fee
- No foreign transaction fee
- You can qualify with limited credit
Why It Could Be Better
- Few benefits (not unexpected for a student card)
- No intro bonus (usually)
The SavorOne Student Cash Rewards card checks all the boxes for a college student. Want to stay in and stream the latest show or movie? Going out to dinner? Need some groceries? Use your card for all of the above to earn an impressive cash back rate. And there’s no limit to the rewards you can earn.
This is one of the better starter cards for students, because you can potentially rake in a ton of rewards and it’ll teach you how to build your credit so you can move on to a card with a better set of benefits.
It would even be a solid card for students studying abroad. It has no foreign transaction fee, Travel Accident Insurance, and 24/7 Travel Assistance Services. That means you won’t be charged for transactions outside of the U.S., and you’re covered if you get hurt or lose your card and need some emergency cash.
And don’t worry, though the SavorOne Student is specifically for college students (or future students who will be attending in three months), you get to keep your card once you graduate.
Are you new to credit cards? If so you might be asking yourself, “How does a credit card even work?” There can be a lot of new terms and important rules you might not be aware of; take a look at our page for everything you need to know.
Insider Advice: Getting the Most Out of Your Card
- Apply if you’ve just graduated high school and are attending college: You can still qualify for the SavorOne Student as long as you’ll be attending college within three months.
- Pay your card on time: The key to using a credit card is paying off your statement balance in full and on time each month. Otherwise, your credit will suffer.
- Connect your card to your streaming services: You’ll earn 3% cash back for most of the popular streaming services, so remember to connect the card if you’re already subscribed.
- Buy your groceries and dinners: Longing for your favorite snack or meal? Don’t worry, you’ll earn cash back for all of your tasty purchases.
- Keep an eye on your credit: Through Capital One’s CreditWise tool, you’ll be alerted when changes occur to your TransUnion and Experian credit reports. You can also watch your VantageScore 3.0 credit scores rise, assuming you use the card responsibly.
- Increase your credit limit: After six months, Capital One may consider you for a credit limit increase. To up your chances, be sure your account is in good standing and that you’ve been making all of your payments on time. Student cards typically start with a low credit limit, which can make it hard to keep your credit utilization low. A larger line of credit will result in lower utilization with the same amount of monthly spending, and your credit scores will be healthier for it.
- If you’re studying abroad, the SavorOne card could help: It comes with travel accident insurance and emergency help if you lose it while traveling. You can use the concierge service for help with travel suggestions and non-emergency tasks, and there’s no foreign transaction fee to worry about. In short, this card would come in handy overseas.
Looking for some resources on how to properly use a credit card? We’ve got you covered.
For the streaming service category, it’s important to note that Amazon Prime Video, AT&T TV, Verizon FIOS On Demand, audiobook subscription services, and fitness programming are excluded. And superstores such as Walmart and Target are excluded from the grocery store category.
Redeem your cash back rewards for:
- Statement credits (most convenient)
- Paper checks
- Recent purchases
- Gift cards
- Online purchases via PayPal
Your best bet will be to redeem your cash back for statement credits. It’s the easiest and most convenient choice. Statement credits will lower your account balance but they won’t count towards your monthly payment.
Using the cash back for recent purchases or to fund online purchases through PayPal would also be good choices.
Your rewards won’t expire, and you can redeem at any time for any amount.
Despite being a student card with no annual fee, there are some useful benefits any cardholder could enjoy.
- Capital One Shopping: Install Capital One’s shopping extension, and select coupons from within your account; any applicable coupons will be used when you pay with your card.
- Concierge service: 24/7 access to a concierge for help with dinner reservations, travel recommendations, finding entertainment tickets, and more.
- Free credit scores with CreditWise: See your VantageScore 3.0 credit scores, based on your TransUnion and Experian credit reports, and monitor activity on those reports.
- Premier Culinary Experiences: Gain access to special dining events like intimate dinners, curated cuisines, and rare chef collaborations.
- Must-See Music Events: Get access to concert and festival tickets, as well as special VIP packages, cardholder lounges, and more.
- Big-Time Sports Events: Gain VIP access, discounts, on-site perks, and more at sporting events.
- Extended Warranty: If an eligible purchase includes a manufacturer’s warranty of three years or less, it could be extended by an additional year.
- Travel Accident Insurance: Get coverage against accidental dismemberment, death, blindness, deafness, and more, up to $250,000, while traveling by common carrier.
- Travel Assistance Services: Get help if your card is lost or stolen while traveling, and get sent a replacement and a cash advance.
- Virtual card numbers: Access virtual card numbers through Eno to make online purchases more securely.
The Terms & Fees
|Purchase APR||Balance Transfer APR||Cash Advance APR|
|26.99% Variable||26.99% Variable||26.99% Variable|
|Annual Fee||Foreign Transaction Fee|
|Balance Transfer Fee||Cash Advance Fee|
|$0 at this Transfer APR||3% of the amount of the cash advance, but not less than $10|
|Penalty APR||Late Fee||Returned Payment Fee|
|None||Up to $40||None|
Keep an eye on your payment due date to avoid any late charges (set up autopay!). And be sure you’re paying the full statement balance so you don’t have to pay needless money for interest charges.
The SavorOne Student, like most credit cards, comes equipped with a grace period. If you pay the full statement balance every month, you won’t ever need to pay interest on your purchases. But if you lose your grace period by not paying your full statement, purchases will begin accruing interest as soon as you make them, until you get the grace period back.
The Bottom Line
The Capital One SavorOne Student Cash Rewards Credit Card is a great choice for a student credit card. It earns unlimited rewards for popular purchases and comes with some helpful perks. It’s also a good choice for students studying abroad thanks to its travel features.
As long as you’re using it responsibly, you should only benefit from this card. You could potentially earn a ton of rewards, all the while building up your credit, without paying anything extra.
Once you have stronger credit scores, you can pair this card with another that earns a flat rate for every purchase, or perhaps a travel rewards card. By using credit cards in tandem, you can maximize the return on your spending and get covered by even more benefits.
You can also take a look at our best choices for beginner credit cards, and learn more about using them to build your credit.
Once your credit improves, consider the other (“adult”) cards in the Savor family. There are the Capital One Savor Cash Rewards Credit Card (Review) and the Capital One SavorOne Cash Rewards Credit Card (Review). They offer solid cash back for popular purchases. The Savor offers the best rewards but has an annual fee.
How Do I Apply for the SavorOne Student Cash Rewards Card?
Follow the link below to be directed to the credit card issuer’s website. From there, you can securely fill out an application, and Capital One will usually get back to you with an answer instantly.
What Credit Scores Do I Need to Qualify for the SavorOne Student Cash Rewards Card?
Because this credit card is designed specifically for students, you only need a limited credit history to qualify. They’ll likely check your credit reports and other financial information, and you’ll need to provide proof that you’re a student.
Frequently Asked Questions
Who counts as a student for the SavorOne Student?
Capital One defines a student as: “Anyone currently enrolled, or admitted and planning to enroll in the next 3 months, at an accredited university, community college or other higher education institution.”
Curious about other credit cards designed for students? Take a look.
What counts as an eligible streaming service, grocery store, or entertainment purchase?
Many major streaming services are included, with the exception of Amazon Prime Video and a few other video services, audiobook subscriptions, and fitness programming. You can expect to earn 3% back for Disney+, Netflix, Hulu, HBO Max, Spotify, and more.
Check out some of the other best credit cards for streaming services.
Walmart, Target, Costco, and BJ’s don’t count as grocery stores, and aren’t eligible to earn 3% cash back. Wholesale clubs and superstores that sell more than just food aren’t eligible. Instead, you’ll only earn 1% cash back for purchases made therein.
If you’re shopping at a large grocery chain like Tops, Wegmans, King Soopers, or Big M, it’s safe to assume it’ll be categorized as a grocery store. Meat lockers, dairy stores, and specialty food stores are included.
As for entertainment purchases, golf courses and college sporting events are excluded, but you will earn rewards at movie theaters, other sports events, theatrical performances, amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls, and bowling alleys.
What happens to my SavorOne Student card once I graduate?
You’ll be able to keep your card, and continue to use it, even after you graduate. And hopefully by then your credit scores will be looking good. Take a look at our best picks for rewards credit cards to find one to pair with the SavorOne Student Cash Rewards card.
Alternatives to the Capital One SavorOne Student Cash Rewards Card
Do you have the Capital One SavorOne Student Cash Rewards card? Has it been lucrative for you? Let us know in the comments below!Unimpressed by the SavorOne Student Cash Rewards? Take a look at our other favorite student credit cards. Best Student Credit Cards
Evan graduated from SUNY Oswego with a degree in journalism and creative writing. In his professional writing career, he strives for precision and comprehension in his work. He’s written news articles, blog posts, and copy, working across a slew of different mediums. With in-depth research and great care for accuracy and detail, he now works to bring you the most up-to-date credit information.
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