Capital One Introduces Student Versions of Two Popular Rewards Cards

As college students gear up for another semester, credit card issuer Capital One is unveiling some new reward credit card options aimed at those looking to build their credit. Rather than start from scratch on a new product, Capital One has introduced student versions for two of their popular rewards cards: SavorOne and Quicksilver.

The student-aimed incarnations of Capital One’s flagship cards feature the same reward benefits as their full-fledged siblings. With the SavorOne Student, cardholders can earn 3% cashback on dining, entertainment, select streaming services purchases, and at grocery stores. Meanwhile, the Quicksilver Student earns a flat 1.5% cashback on every purchase. Neither card carries an annual fee. Unfortunately, however, the student versions of these two cards do not include a welcome bonus.

While the Quicksilver Rewards and SavorOne Rewards cards typically require “Excellent” credit, the student versions are available to those with “Fair” credit. To qualify as a student, applicants must be currently enrolled (or admitted and planning to enroll in the next three months) at an accredited university, community college, or other higher education institution. After student cardholders graduate, they’ll continue to be able to use their cards and enjoy the same benefits.

These two new Student card options join Capital One’s Journey Rewards for Students. That card earns 1% cashback on all purchases, but that rate increases to 1.25% when cardholders make on-time payments. Additionally, the Journey Rewards for Students cardholders can earn $5 per month for 12 months on select streaming subscriptions when they pay on-time.

Speaking to the need for these student card options, Capital One EVP and Head of Mainstreet Card Daniel Mouadeb stated, “Being new to credit and being able to enjoy rewards don’t have to be mutually exclusive. By bringing more choices to our customers, including access to credit and the benefit of rewards, we’re paving the way for a more inclusive and rewarding credit experience.”

Similarly, the company’s VP of US Card Ralph Haro said of the offerings, “When we asked students what they wanted in a credit card, they overwhelmingly pointed to unlimited cash back on all purchases and no annual fee. SavorOne Student and Quicksilver Student build on the legacy of rewards offered with our flagship cards, and we are proud to extend these best-in-class benefits to serve the financial needs of students across the country.”

With the addition of the SavorOne Student and Quicksilver Student cards, those looking to build credit while still in school now have some solid rewards options. That said, student applicants should keep in mind that building credit doesn’t require them to carry a balance on their card and that paying interest on card balances will certainly negate any cashback they may earn. Still, when used responsibly, either of these Capital One cards could prove to be a good addition to any student’s wallet.

Author

Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

Other Articles by Jonathan Dyer

Uber Relaunches UberPool as UberX Share

With demand for travel continuing to rise, the ridesharing app Uber has announced a feature to help both travelers and commuters to get to their destinations while saving money. After previously pausing its UberPool service option during the pandemic, Uber is now rolling out a replacement called UberX Share. At this time, the new option is available to riders in New York City, Los Angeles, Chicago, San Francisco, Phoenix, San...

Split Payment Platform Kasheesh Launches as Alternative to BNPL

In recent months, "buy now, pay later" (BNPL) platforms have exploded in popularity. What's more, with Apple jumping into the space, the practice is likely to continue growing despite some concerns in regards to how BNPL services impact consumers' personal finances. With that in mind, one FinTech has just revealed its alternative: a payment-splitting platform for online retail. Today, Kasheesh exited stealth mode to announce the launch of its unique...

Credit Karma Money Spend Adds Cashback Offers for Cardholders

Those looking to add some extra cash back into their pocket will soon have a new option. This week, the popular credit monitoring site Credit Karma announced a new feature for its Credit Karma Money customers. Now, debit cardholders will be able to earn cashback when making purchases from select retailers. According to the site, the list of eligible retailers includes national chains, such as Adidas and Shake Shack, as...