A Guide to Capital One’s Credit Cards for College Students - NerdWallet (2024)

Here’s what you need to know about the student credit cards from Capital One.

Light on fees

Capital One’s student cards acknowledge two truths about college students: They tend to live on tight budgets, and they want to travel when their schedules allow. All three cards waive annual and foreign transaction fees, making it easy for cardholders to want to keep using the cards after graduation.

For students who plan to study abroad or go on vacation during spring and summer breaks, these cards are excellent travel buddies. Because you won't pay a foreign transaction fee, you’ll save money on purchases overseas. The cards also belong to the Mastercard network, so they are widely accepted by merchants abroad.

Rewards-earning potential

Both cards earn cash back, but their rewards structures differ greatly. In general, the Capital One SavorOne Student Cash Rewards Credit Card is the more valuable card because of its higher cash-back rate in popular spending categories for students. That card earns unlimited 3% cash back on dining, entertainment and some streaming services and at grocery stores (excluding superstores like Target and Walmart). All other purchases earn 1% back. It’s also the only one of the three cards that gets 8% back on Capital One Entertainment purchases and tickets at Vivid Seats.

The rewards structure on the Capital One Quicksilver Student Cash Rewards Credit Card is simpler but less valuable. It earns an unlimited 1.5% cash back on purchases.

Both cards earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. Redemption options are the same, too: Rewards can be cashed in for a statement credit, a check or gift cards. Cardholders can also automate redemption to occur at a certain time each year or when a certain amount is reached.

Sign-up bonus: Some or none

Both cards earn a sign-up bonus, and it's identical: Earn $50 when you spend $100 in the first three months. However, that bonus is a limited-time offer.

Some credit required to qualify

Applicants will typically need fair credit (a FICO score between 630 and 689) to qualify for either of Capital One’s student cards, but exceptions may apply. Each applicant is assessed case by case, according to a Capital One spokesperson. As is legally required for any credit card in the U.S., you'll also have to 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.

Those without a FICO credit history should look to a card like the Discover it® Student Chrome. The card has a $0 annual fee, and it offers introductory incentives and rewards. Cardholders earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases per quarter and 1% cash back on everything else.

Payments are reported to all major credit bureaus

Both cards report payments to the three major credit bureaus: Equifax, Experian and TransUnion, which is essential for building credit. Your payment history accounts for about 35% of your credit score, so if you want a higher score, aim to make on-time payments as often as you can.

Student status is required

You’ll have to confirm that you’re a student to be eligible for the Capital One SavorOne Student Cash Rewards Credit Card and Capital One Quicksilver Student Cash Rewards Credit Card. Capital One’s definition of a student is someone who is admitted and enrolled (or intending to enroll in three months) part time or full time at an accredited university, community college or higher education institution. Even after you lose student status, the card remains active and retains its benefits and rewards.