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Is the SavorOne Student Card Worth the Hype?
The Capital One SavorOne Student Cash Rewards card offers impressive perks for students, but is it the right fit for you? We break down the numbers and the potential pitfalls.
The Quick Version
The Capital One SavorOne Student Cash Rewards card is a no-annual-fee option offering 3% cash back on dining and grocery store purchases — great for students who spend in these categories. However, with a steep APR of 19.99%-29.99% variable, carrying a balance could get expensive fast.
Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.
Capital One SavorOne Student Cash Rewards
Capital One's student card is a solid option for cash back on dining and groceries.
Capital One SavorOne Student Cash Rewards
The Fine Print
The Capital One SavorOne Student Cash Rewards card has no annual fee, making it a budget-friendly choice. The APR ranges from 19.99% to 29.99% variable, depending on your creditworthiness. You'll earn 3% cash back on dining and grocery store purchases, 1% on all other purchases, and a $50 sign-up bonus after spending $100 in the first three months. There are no foreign transaction fees, which is a plus for students studying abroad.
What's Actually Good
Aside from the no annual fee, the 3% cash back on dining and groceries is a standout feature, especially for students who frequently eat out or buy groceries. The $50 sign-up bonus is easy to achieve with minimal spending. Plus, the lack of foreign transaction fees makes it a good companion for international students or those planning to study abroad.
The Catch
The biggest downside? The high APR range. If you don't pay off your balance in full each month, interest charges can quickly add up, making any cash back earned less impactful. The card's rewards are also less appealing if your spending doesn't align with the dining and grocery categories.
Who Should Apply
This card is ideal for students with a fair credit score (580+) who spend significantly on dining and groceries. It's also a good fit for those who plan to study abroad, thanks to its no foreign transaction fees. However, if you tend to carry a balance, consider a lower APR card instead.
The Bottom Line
The Capital One SavorOne Student Cash Rewards card is a strong contender for students looking to earn rewards on everyday purchases without paying an annual fee. But, if you're prone to carrying a balance, the high APR could negate the benefits.