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The Capital One Savor Student Cash Rewards Credit Card is a card designed with students in mind. Since it earns 3% Cash Back at grocery stores (excluding superstores like Walmart® and Target®) and imposes no annual fee, it’s a solid option for college students. And it even comes with a welcome bonus.
In this post, we'll cover the pros and cons of the Savor Student Card, the benefits and earning rates it offers, and its eligibility requirements.
- 3% Cash Back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services. 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply). 8% Cash Back on Capital One Entertainment purchases. 1% Cash Back on all other purchases.
Page Contents
- Capital One Savor Student Card Pros
- Capital One Savor Student Card Cons
- Capital One Savor Student Card Welcome Offer
- Capital One Savor Student Card Benefits
- Capital One Savor Student Card Earning Rates
- Redeeming Cash Back With the Savor Student Card
- Application Restrictions
- Alternatives to the Savor Student Card
- Bottom Line
Capital One Savor Student Card Pros
- 3% Cash Back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services
- Access to Capital One Travel and Capital One Entertainment with elevated bonus earning rates
- No annual fee and no foreign transaction fees
Capital One Savor Student Card Cons
- Highest earning rates are limited to food and entertainment
- Poor rewards rate on spending outside the bonus categories
- The card is exclusively marketed to students
Capital One Savor Student Card Welcome Offer
The Savor Student Card has the following welcome offer: Earn $100 Cash Back when you spend $300 in the first three months.
Compared to many new card offers out there now, this is a low minimum spending requirement. For students who may not have large monthly expenses, this makes this card’s welcome offer accessible and attractive.
Related: The Best Cards for College Students
Capital One Savor Student Card Benefits
As a student credit card without an annual fee, the Savor Student Card doesn't offer a huge host of benefits. However, here are the handful worth noting.
No foreign transaction fees
One of the cool things about Capital One is that none of its cards charge impose transaction fees. This means that even a card like the Savor Student Card has this benefit. If you end up traveling abroad for school or during spring break, this means you can use your card without incurring any extra charges.
Access to Capital One Entertainment, Travel, and Dining
Capital One offers these exclusive benefits to its cardholders. You'll enjoy access to Capital One Entertainment, which gives you cardholder-only access to certain event tickets, plus other perks. You can book straight through Capital One's platform, whether you're looking for music, sports, dining, or some other experience. Plus, you'll earn 8% cash back on ticket purchased though Capital One Entertainment.
Additionally, your Savor Student Card lets you access the Capital One Travel portal which you can use as a one-stop stop for most travel needs. Your card also earns 5% cash back on hotels and rental cars booked through Capital One Travel.
Finally, your card unlocks exclusive reservation access at a curated collection of restaurants in major U.S. cities available through Capital One Dining.
Build your credit
The Savor Student Card is advertised as an option to help build your credit. Whereas many of the better credit cards require good to excellent credit, which typically means an established credit history, approval for a card like the Savor Student Card is easier.
What's nice about this card is that you can still earn a reasonable return on spending typical for a college student while building your credit.
Capital One Savor Student Card Earning Rates
Cardholders of the Capital One Savor Student Cash Rewards Credit Card earn 3% unlimited cash back on purchases made on food, entertainment, and popular streaming services. This card also gives the option to earn 5% unlimited cash back on hotels and rental cars through Capital One Travel and 8% cash back on tickets purchased through Capital One Entertainment.
However, earnings beyond these categories are rather mediocre. The rewards rate drops to 1% unlimited cash back on all other purchases.
It's important to note that the 3% rate applies to spending at grocery stores and not simply on groceries. If you generally purchase groceries at a retailer like Target or Walmart, these purchases will not earn 3% cash back. A merchant must have a grocery store merchant code to provide the 3% return.
The 3% earning rate makes the Savor Student Card valuable for eating out and buying groceries, plus earning you some extra cash back on streaming. However, you can find other cards with higher earning rates on everyday spending.
Related: The Best Credit Cards for Grocery Shopping — From Cash Back to Transferable Points
Redeeming Cash Back With the Savor Student Card
Cash back earned with the Savor Student Card can be redeemed in a few ways.
First, the cash back can be redeemed directly as cash by either check or statement credit. A second way to redeem your cash back is by using it to cover a recent purchase. Finally, you can redeem your rewards for gift cards, although the rate you get for these may vary. The rewards you earn with the Savor Student Card do not expire, as long as your account is open.
Application Restrictions
To qualify for the Savor Student Card, you must be enrolled, or admitted and planning to enroll, to a community college, accredited university, or other higher education institution within the next three months. You also must be at least 18 years old to apply.
In addition, if you’re hoping to earn the welcome bonus, note that it may not be available to current or former accountholders.
Alternatives to the Savor Student Card
There are a number of other credit cards marketed to students, so you’ll want to consider the Savor Student Card among the range of options. Here are a few other cards that compete with it.
- If you’re looking for a card with a better cash back rate on general purchases, the Capital One Quicksilver Student Cash Rewards Credit Card might be the card for you. It comes with many of the same features as the Savor Student Card, but differs in its earning rates. With this card, you'll earn a flat 1.5% Cash Back on every purchase, every day as well as 5% Cash Back on hotels and rental cars booked through Capital One Travel.
- If you want to start your journey with a Chase credit card, consider the Chase Freedom Rise®. This card charges no annual fee and rewards you with 1.5% cash back on every purchase. Better yet, if you have a Chase checking or savings account with a balance of at least $250 will increase your chances of getting approved.
- If you want to rack up serious rewards, the Bank of America® Customized Cash Rewards Credit Card for Students is worth a look. It has no annual fee and earns 6% cash back in a category of your choice for the first year (options include gas, online shopping, dining, travel, drugstores, and home improvement), plus 2% at grocery stores and wholesale clubs, and 1% on everything else. The 6% and 2% rates apply to the first $2,500 in combined purchases each quarter; after that, you’ll earn 1%. After the first year, the 6% rate drops to 3%.
- 1.5% cash back on every purchase
Bottom Line
The Capital One Savor Student Cash Rewards Credit Card is a card that is a solid choice for students who spend primarily on food each month. Its low minimum spend requirement for earning the welcome bonus is another upside, as is the fact that it doesn’t charge either an annual fee or foreign transaction fees.
If you’re a student who dines out routinely, this card is a good card for you. That being said, there are other, better options if you spend primarily in other categories. There are a host of good cards available to students with a limited credit history, so find one that fits your needs and preferences.
- 3% Cash Back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services. 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply). 8% Cash Back on Capital One Entertainment purchases. 1% Cash Back on all other purchases.
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