The SavorOne Student Cash Rewards card is great for any student who spends modestly in the card’s rewards categories. That said, it lacks an intro APR which can help students avoid interest on a balance they’re carrying with their current credit card. If you aren’t sold on the SavorOne Student card’s rewards categories, you might benefit more from a flat-rate rewards card that rewards all your purchases equally at a moderately boosted rate.
Capital One SavorOne Student Cash Rewards vs. Capital One Quicksilver Student Cash Rewards
Hands down, the Capital One SavorOne Student card is one of the best student credit cards available when it comes to ongoing rewards. It trounces the other two Capital One student cards, even the Capital One Quicksilver Student Cash Rewards Credit Card. Using our yearly rewards formula based on the average $15,900 annual spend determined by the U.S. Bureau of Labor Statistics, the average consumer with the SavorOne Student card can earn almost $368 per year, while they would earn only about $250 annually with the Quicksilver Student card at its 1.5 percent flat cash back rate.
Granted, both the SavorOne and Quicksilver student cards now provide the same welcome offer, and 5 percent cash back for hotel and rental car bookings made using Capital One Travel. The SavorOne’s bonus categories are likely to be more lucrative for the typical student — unless non-category expenses like utilities, books and rent are your biggest expenses.
Capital One SavorOne Student Cash Rewards vs. Discover it® Student Cash Back
The Discover it® Student Cash Back beats the SavorOne Student in terms of rewards with an average of $390 per year — as long as you manage to maximize the spending limit for its rotating categories rewards. The trouble is, it may be difficult to maximize Discover’s bonus categories on a student budget.The SavorOne Student card’s unlimited rewards structure more than makes up for the extra $29 the Discover it® Student Cash Back earns on average since it’s much easier to manage.
However, the SavorOne Student card may not be the optimal choice depending on the benefits you’ll use or whether you carry a balance. It isn’t the lowest-cost student card, but it does protect you against foreign transaction fees, penalty APRs and a balance transfer fee while other student cards may not (See Rates and Fees). The Discover it® Student Cash Back is the only rival card that doesn’t charge foreign transaction fees or a penalty APR, but it goes one step further by waiving your first late payment fee as a brilliant safety net for students getting used to credit card payments. However, your late fee is up to $41 after the first time you pay late.
Best cards to pair with the Capital One SavorOne Student Cash Rewards
Building credit and upgrading from a student card after graduation should be your chief priority instead of maximizing your rewards spending. However, the SavorOne Student’s sibling card — the Capital One Quicksilver Student — would be one of the best partner cards on account of its flat-rate cash back. That way, you could earn boosted rewards on big expenses outside your categories like textbooks, student fees, rent and other bills.
*The Journey Student Rewards from Capital One is no longer available. The information about the Chase Freedom® Student credit card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.