Capital One Student Credit Cards Review 2024
With responsible use, Capital One student credit cards can help you build your credit score and earn rewards, making them excellent options for college students. Here’s everything you need to know about these cards.
Capital One Student Credit Cards: A Closer Look
Capital One offers two main student credit cards: the Capital One Quicksilver Student Cash Rewards Credit Card and the Capital One SavorOne Student Cash Rewards Credit Card.
What Makes These Cards Stand Out?
Both cards come with no annual fees and provide various cash-back opportunities, making them appealing to students looking to manage their finances responsibly. But let’s delve deeper into each card to understand their specific benefits and features.
Capital One Quicksilver Student Cash Rewards Credit Card
Rewards and Benefits
- Unlimited 1.5% Cash Back: Earn on all purchases with no cap.
- 5% Cash Back: On hotels and rental cars booked through Capital One Travel.
- Sign-Up Bonus: Earn $50 when you spend $100 in the first three months.
Fees and APR
- Annual Fee: $0
- APR: 19.99%-29.99% Variable APR
- Foreign Transaction Fee: $0
Capital One SavorOne Student Cash Rewards Credit Card
Rewards and Benefits
- 3% Cash Back: On dining, entertainment, streaming services, and at grocery stores (excluding superstores like Target and Walmart).
- 5% Cash Back: On hotels and rental cars booked through Capital One Travel.
- 8% Cash Back: On Capital One Entertainment purchases.
- Sign-Up Bonus: Earn $50 when you spend $100 in the first three months.
Fees and APR
- Annual Fee: $0
- APR: 19.99%-29.99% Variable APR
- Foreign Transaction Fee: $0
Why Choose Capital One Student Credit Cards?
Light on Fees
Both cards waive annual and foreign transaction fees, ideal for students traveling or studying abroad. This feature makes it easy to use the cards internationally without worrying about extra costs.
Building Credit
Capital One reports payments to all major credit bureaus (Equifax, Experian, and TransUnion), essential for building a credit history. Ensuring on-time payments can significantly impact your credit score positively.
Comparing the Two Cards
| Feature | Quicksilver Student | SavorOne Student |
|---|---|---|
| Rewards Rate | 1.5% on all purchases | 3% on dining, entertainment, streaming services, and grocery stores; 5% on travel; 8% on Capital One Entertainment |
| Annual Fee | $0 | $0 |
| APR | 19.99%-29.99% | 19.99%-29.99% |
| Sign-Up Bonus | $50 | $50 |
| Foreign Transaction Fee | $0 | $0 |
Who Should Get These Cards?
Capital One Quicksilver Student
Ideal for students who prefer simplicity and want a straightforward rewards structure without worrying about specific spending categories.
Capital One SavorOne Student
Perfect for students who spend heavily on dining, entertainment, and streaming services, offering higher cash-back rates in these categories.
Frequently Asked Questions
What credit score do you need to apply for these cards?
Applicants typically need a FICO score between 630 and 689, although exceptions may apply. Each application is reviewed individually by Capital One.
How old do you need to be to apply?
You must be at least 18 years old and have sufficient income to qualify. Capital One defines sufficient income as being greater than your rent or mortgage payment by at least $425.
What happens to my student card once I graduate?
Your card remains active and retains its benefits and rewards even after you lose student status. There’s no need to apply for a new card post-graduation.
Final Thoughts
Both the Capital One Quicksilver Student Cash Rewards Credit Card and the Capital One SavorOne Student Cash Rewards Credit Card are excellent choices for students. They offer valuable rewards, have no annual or foreign transaction fees, and can help build your credit history.
If you’re a student looking to manage your finances better while earning rewards, these cards are worth considering. Be sure to choose the one that aligns best with your spending habits to maximize your benefits.
For more information on building your credit as a student, visit abeut.com.
If you’re interested in applying for any of these cards, visit the official Capital One website for more details.
