Which Capital One student credit card is best for you?
Both cards carry many similarities, from the welcome offer to the annual fee and ongoing benefits. The core difference is how you’ll earn rewards.
To illustrate the differences, let’s say that two college students spent $8,000 in a year (or roughly $667 per month). With the QuicksilverOne Student, both would earn 1.5% cash back, or $120 in cash-back rewards at the end of the year — no matter how you slice and dice it.
However, the earning potential of the SavorOne Student is different, since the amount of cash back varies between spending categories. Here’s a breakdown of spending habits for our two sample students, James and Claire, and how much cash back they would each earn with the SavorOne Student:
| James | Rewards | Claire | Rewards |
|---|---|---|---|
| Laptop: $2,200 | $22 (1% back) | Laptop: $1,000 | $10 (1% back) |
| Dorm decorations: $1,000 | $10 (1% back) | Dorm decorations: $250 | $2.50 (1% back) |
| Restaurants: $500 | $15 (3% back) | Restaurants: $3,000 | $90 (3% back) |
| Concert tickets: $0 | $0 | Concert tickets: $1,100 | $88 (8% back) |
| Textbooks: $800 | $8 (1% back) | Textbooks: $500 | $5 (1% back) |
| Groceries: $1,000 | $30 (3% back) | Groceries: $1,200 | $36 (3% back) |
| Air travel: $2,500 | $25 (1% back) | Air travel: $850 | $8.50 (1% back) |
| Hulu: $0 | $0 | Hulu: $100 | $3 (3% back) |
| Total spend: $8,000 with $110 cash back | Total spend: $8,000 with $243 cash back | ||
For James, the QuicksilverOne is the better choice, as his budget falls outside of the SavorOne’s bonus categories. If you’re looking to earn rewards without the fuss of remembering where you’ll earn the most, the QuicksilverOne for Students takes the guesswork out for you.
Meanwhile, for Claire, she can earn more than double the rewards with the SavorOne, so the choice for her is clear as well. If you’re the savvy type, the SavorOne for Students may be a much more rewarding option for you. While it takes a bit more legwork, the SavorOne offers tremendous cash back potential.
With both Capital One student cards, you’re able to redeem your rewards at any time, no matter if you’ve accrued $10 or $100. You can choose from many options, including a statement credit or a direct deposit and even Amazon or PayPal.
Summary
Both Capital One student credit cards are excellent choices for earning and redeeming rewards, all while building your credit. Coupled with the easy-to-earn welcome offer, these student cards are more compelling than ever.
As always, be sure to understand the fundamentals of credit (i.e., pay your bill on time and in full, and don’t treat your credit card as unlimited money), so that you can build a great credit score without incurring debt.
Featured image: ViDI Studio/Shutterstock.com
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