Capital One’s two new credit cards are the best for college students
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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 and the Capital One Quicksilver Student Cash Rewards Credit Card.
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 Credit Card and the Capital One Quicksilver Cash Rewards Credit Card. 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 the chance to earn 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 who have an active lifestyle.
Through January 2023, cardholders will also earn 8% cash-back rewards on Vivid Seats — a platform where you can buy tickets for concerts, sports and theater.
Official application link: Capital One SavorOne Student Rewards card
Capital One Quicksilver Student Rewards card
The Quicksilver Student offers 1.5% cash 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.
Official application link: Capital One Quicksilver Student Rewards card
Journey Student Rewards from Capital One
The Journey Student Rewards from Capital One 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.
Another incentive to pay on time is that you’ll get up to $60 in streaming service subscription credit each year when you pay your bill on time. That’s broken down into $5 monthly credits for 12 months, a great way to offset your Spotify or Netflix subscription.
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 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. The Journey card is still a compelling option for the up to $60 annual streaming service credit, a rare offering for a card with no annual fee.
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.
Featured photo by John Gribben for The Points Guy.
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Earn 50,000 bonus miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new card in the first three months of card membership. Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants in the first three months of card membership.
With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.
- Earn 50,000 Bonus Miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new Card in your first 3 months.
- Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants with your card within the first 3 months of membership.
- Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
- Earn 3X Miles on Delta purchases and purchases made directly with hotels.
- Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
- Earn 1X Miles on all other eligible purchases.
- Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
- Enjoy your first checked bag free on Delta flights.
- Fee Credit for Global Entry or TSA Pre✓®.
- Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
- No Foreign Transaction Fees.
- $250 Annual Fee.
- Terms Apply.
- See Rates & Fees