Capital One's two new credit cards are the best for college students
Update: Some offers mentioned below are no longer available. View the current offers here.
Capital One is giving college students more opportunities to build credit and earn valuable rewards at the same time. Today, the issuer has unveiled two new student cards that make them the best options for students on the market: The Capital One SavorOne Student Cash Rewards Credit Card (see rates and fees) and the Capital One Quicksilver Student Cash Rewards Credit Card (see rates and fees).
The addition of these new cards crown Capital One as the student credit card champion, with three different cards to choose from. Offering more options than any other issuer on the market, none of these student cards charge annual fees. There's no minimum redemption amount, so get valuable cash-back rewards faster in your wallet. Finally, enjoy no foreign transaction fees on all of Capital One's student credit cards, perfect if you expect to study abroad during your four years.
Note that the two new cards are student versions of their premium rewards counterparts: the Capital One SavorOne Cash Rewards Credit Card (see rates and fees) and the Capital One Quicksilver Cash Rewards Credit Card (see rates and fees). These cards are merely identical, but they're targeted specifically toward students and will help you qualify even for those with little or no income and credit history.
Let's take a look at Capital One's student cards and help you decide which should be your first.
Capital One SavorOne Student Rewards Card
The SavorOne Student offers cardholders $50 when you spend $100 in the first three months and the chance to earn 10% cash back on Uber rides and Uber Eats purchases, 3% cash-back rewards on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart® and Target®) and 1% on everything else. The chance to earn bonus points on these four popular categories is huge, especially for students with an active lifestyle.
Also, cardholders can receive a complimentary Uber One membership by paying for it with their card and then being reimbursed. This benefit is available through Nov. 14, 2024, offering unlimited $0 delivery fees on orders of $15 or more from restaurants or $30 or more from stores, plus 10% off eligible Uber Eats orders and up to 5% off eligible rides with Uber.
Official application link: Capital One SavorOne Student Rewards card
Capital One Quicksilver Student Rewards card
The Quicksilver Student offers cardholders $50 when you spend $100 in the first three months and can earn cash back as follows: 10% back on Uber rides and Uber Eats purchases and 1.5% back on all purchases every day. If you live a busy lifestyle and don't have time to keep up with multiple bonus categories, earning a flat-rate 1.5% cash-back rate is a considerable advantage.
The Quicksilver Student card has the same benefit with Uber One, where cardholders can enroll for a membership, pay with their card and then be reimbursed for the monthly membership fee. This benefit runs through Nov. 14, 2024.
Official application link: Capital One Quicksilver Student Rewards card
Journey Student Rewards from Capital One
The Journey Student Rewards from Capital One (Product is no longer available) isn't new, but it's a card that remains a solid option in the Capital One student cards portfolio. This card is best for students who want to build a strong foundation for their financial future: You'll earn 1% cash-back on all your purchases, but that rate gets elevated to 1.25% if you pay your bills on time.
Related: Full review of the Capital One Journey Student card
The information for the Journey Student Rewards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Official application link: Journey Student Rewards from Capital One
Which Capital One student credit card is right for you?
The three Capital One student cards are great for those attending a four-year university, community college or other higher education institution. No matter which card you choose, these cards all come with these great benefits:
- No annual fee.
- No foreign transaction fees.
- No minimum for cash-back redemption.
- Rewards don't expire as long as you keep your account open.
- Be automatically considered for a higher credit line in as little as six months.
- $0 fraud liability on unauthorized charges if your card is ever lost or stolen.
- Set up Autopay to automatically make your payments every month.
- Get exclusive Capital One access to exclusive experiences in sports, dining and entertainment.
With that in mind, which card is the best pick for you?
While this question depends on your spending habits, the SavorOne Student likely is the best option for most students. It offers a valuable 3% back on a variety of common purchase categories. I could see the Quicksilver Student being an excellent option for those who spend on purchases outside SavorOne's categories, such as textbooks or travel.
Related: Select Capital One cash-back cards now earn 10% back on Uber and Uber Eats purchases
Bottom line
The two new Capital One cards are exciting new options for students who are just starting out with building credit. As a recent college graduate myself, I would have appreciated these options as they offer high cash-back rewards that are much better than most student cards on the market. Plus, as you build your credit over time, you'll be able to qualify for TPG's top picks for travel rewards cards down the road.