Capital One SavorOne Cash Rewards Credit Card offers unlimited 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target), plus 1% on all other purchases. It doesn’t have an annual fee and offers a one-time $200 cash bonus after spending $500 on purchases within the first 3 months from account opening.
Capital One SavorOne Cash Rewards Credit Card
Capital One Journey Student Rewards Credit Card: This is a card designed specifically for students. It offers 1% cash back on all purchases, and that can increase to 1.25% each month if you pay on time. There’s no annual fee for this card, and it can help students build credit while earning cash back.
The Capital One SavorOne Student Cash Rewards Credit Card is specifically designed for students who desire to establish their credit history while enjoying a series of cash-back rewards. This detailed review will explore the unique features, benefits, and FAQs associated with the card.
Features of Capital One SavorOne Student Cash Rewards Credit Card
The Capital One SavorOne Student Cash Rewards Credit Card boasts an array of distinctive features tailored to cater to the needs of students. The primary attraction is the cash-back reward system, offering a generous percentage back on all purchases. Unlike many other student cards, this one does not limit the cash-back rewards to particular categories.
The card also includes features like free foreign transactions, making it an ideal companion for international students or those planning to travel or study abroad. Furthermore, students can access a higher credit line after making their first five monthly payments on time, which can help increase their credit score if used responsibly.
Benefits: More Than Just a Credit Card
The benefits of owning a Capital One SavorOne Student Cash Rewards Credit Card go beyond simple monetary rewards. The cardholder gains access to CreditWise, Capital One’s credit monitoring service, which can be an invaluable tool for students learning to navigate the world of credit and finances.
Moreover, the card offers an extended warranty on eligible items, auto rental collision damage waiver, and travel accident insurance. Such features can provide a safety net for students, who often have limited financial resources at their disposal.
FAQs
Q1: What are the eligibility requirements for this card?
As a student card, applicants are generally required to be enrolled in a recognized college or university. They also need to meet other criteria set by Capital One, which could include income and credit history checks.
Q2: Does this card have an annual fee?
No, the Capital One SavorOne Student Cash Rewards Credit Card does not have an annual fee, making it an affordable option for students.
Q3: How does the cash-back reward system work?
Cash-back rewards are automatically applied to your account as a statement credit, which means you can use the rewards to offset your card balance.
Q4: How can I increase my credit line with this card?
By making your first five monthly payments on time, you can access a higher credit line. This is a part of Capital One’s Credit Steps program, aimed at encouraging responsible credit habits.
Conclusion
The Capital One SavorOne Student Cash Rewards Credit Card serves as more than just a payment tool for students; it’s a stepping stone towards responsible financial management and credit history building. With a suite of features and benefits designed to aid in the financial growth and protection of students, it offers a strong foundation for credit literacy. Moreover, its generous cash-back rewards system and no annual fee make it an enticing choice for students seeking to get the most value from their spending.