Why I recommend the Capital One Savor Student Cash Rewards Credit Card
Editor's Note
As a young adult and student who writes and talks about credit cards nonstop, I often get many questions about their significance and value from my peers. Typically, I first explain the lasting benefits of building credit. Applying for your first credit card at a young age allows you to establish your credit history early, giving it more years to mature.
The length of credit history makes up 15% of your FICO score, a pretty significant portion that can be easily strengthened by establishing credit early in life. And if you later apply for a loan or mortgage, you will likely benefit from a higher credit score by having a longer credit history.
I am often asked, "What is the best card to apply for?" For college-aged students, my reply is usually the Capital One Savor Student Cash Rewards Credit Card. While this card frequently flies under the radar for students compared to the Discover it® Student Cash Back Card, here is why I recommend the student version of the classic Capital One Savor Cash Rewards Credit Card.
The information for the Discover it Student Cash Back Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Related: The best credit cards for college students
Great everyday spending rewards categories
Compared to the lack of rewards offered by debit cards, students are often thrilled to get 1% back on their purchases with a credit card. While I always advise trying to get at least 2% back on purchases — which is easily achievable with cards like the Citi Double Cash® Card (1% when you make a purchase and another 1% when you pay it off; see rates and fees) — some people with limited credit histories may not be approved for a card with a higher earning rate.
Comparatively, the Savor Student card offers unlimited 3% cash back on dining, groceries (excluding superstores like Walmart® and Target®), entertainment and popular streaming services, which is almost unheard of for student credit cards and is better than many nonstudent cards. As a student, I know that most of my budget goes toward restaurants and activities, which perfectly match these categories. Additionally, the card offers 1% cash back on purchases that do not fall within these categories.
Dining includes everything from fancy restaurants to the fast-food drive-through at midnight. Additionally, entertainment covers football games, other event tickets and even playing a round of golf. Add in grocery store purchases and streaming services, and I can imagine that many students with this card would earn 3% back on the majority of their day-to-day spending.
Related: Credit vs. debit cards: Which is the smarter choice?
Easy-to-earn welcome bonus
The TPG community loves a good welcome bonus, especially thousands of points with one new card. However, these welcome bonuses can be out of reach for many students since they sometimes require $5,000 or more in spending within three months.
The bonus for the Savor Student card is much more attainable. This card offers a $50 cash bonus after spending $100 on purchases in the first three months from account opening.
Related: Credit card welcome bonuses you can earn with $1,000 or less in spending
No annual fee or foreign transaction fees
The last thing a student wants to worry about with expensive tuition and a tight budget is paying an annual fee. Luckily, the Savor Student has no annual fee, making it easy to continue earning rewards without a yearly fee.
Additionally, you won't incur any foreign transaction fees when you use the card. This means that when studying abroad in Europe or on spring break in Mexico, you won't need to worry about fees being added to every purchase you make.
No foreign transaction fees are a great and less common benefit among credit cards with no annual fees, let alone on a card for individuals with less credit history. This should not be ignored.
Related: Foreign transaction fees: Everything you need to know
Easy-to-use rewards
Some credit cards make it difficult to redeem their rewards, but this is not the case for the Savor Student card. For starters, rewards do not expire for the life of the account. Rewards can be redeemed for cash, used directly against your balance to reimburse a recent purchase from your bill or redeemed for travel using the Capital One Travel portal.
Down the road, once a longer credit history has been established — and one has a higher credit score — adding another Capital One credit card, such as the Capital One Venture Rewards Credit Card or the Capital One VentureOne Rewards Credit Card, would allow students to convert their cash-back rewards to miles.
These miles can then be transferred to one of the card's 15-plus airline or hotel partners to book travel. This method may require more effort, but it can increase the value of the rewards, as TPG's October 2024 valuations peg Capital One miles at 1.85 cents compared to the 1-cent cash back on the Savor Student card.
Related: Cashing in Capital One miles? How to get the maximum value when redeeming miles
Bottom line
The Capital One Savor Student Cash Rewards Credit Card is an excellent all-around card. Its bonus categories perfectly match many students' spending habits and rival nonstudent cards for individuals with a more developed credit score.
In addition to no annual or foreign exchange fees and an easy-to-earn welcome bonus, this card comes with some of the typical benefits you may not find on debit cards. These include $0 fraud liability on unauthorized charges, extended warranty protection and price protection.
In order to start building credit, I always advise students to apply for their first card as early as possible (after making sure they know how to handle a credit card responsibly), and my pick for their first card is the Savor Student card.
Related: 8 things you should know before applying for a credit card in college
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.