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

X1 Opens Waitlist for New X1+ Credit Card

A neo-credit card issuer is looking to build upon its early success and expand its line-up. This week, X1 announced the upcoming X1+ card while opening a waitlist for the product. With the X1 being billed as "the world’s smartest credit card," this latest offering is being hailed as the only credit card for smart travel. The X1+ is expected to launch this spring and will carry an annual fee...

Bilt and Point.Me Partner for Award Flight Search Integration

With several credit cards, customers can earn points that can then be transferred to various travel programs and redeemed for flights or hotel bookings. Unfortunately, finding and booking the best award travel deals isn't always as straightforward as one might assume. To assist with that, Bilt has unveiled a new integration with Point.Me that will help its rewards members search for award flights on airlines that participate in Bilt's transfer...

Zurp Raises $5 Million for Creator Experience Rewards Credit Card

A FinTech looking to marry credit card rewards with the creator economy has just closed a fresh round of funding. This week, Zurp announced that it had raised $5 million to create a "credit card for experiences." New Form, MAGIC Fund, Launchpad VC, OVO Fund, Darling Ventures, and Animal Capital all participated in the pre-seed fund along with a number of strategic investors. Zurp is a startup looking to create...