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The Discover it® Student Cash Back and Capital One Savor Student Cash Rewards Credit Card are some of the top student credit cards with no annual fees and competitive rewards programs. While both cards can generate decent value, they differ in how you earn those rewards.
If you're considering which of these student cards is the better fit, CNBC Select reviews each card's strengths and what to consider before selecting.
The Capital One Savor Student Cash Rewards Credit Card features rewards rates that match many of the top cash-back credit cards.
- High cash-back rates for common student expenses, such as groceries, dining and entertainment
- Elevated cash-back rates on Capital One Entertainment and Capital One Travel purchases
- No annual fee or foreign transaction fees
- High variable APR
- No intro APR on purchases or balance transfers
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services, plus 1% on all other purchases
- Early Spend Bonus: For a limited-time, earn $100 when you spend $300 in the first three months
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- Enjoy no annual fee, foreign transaction fees, or hidden fees
- Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- Earn up to $500 a year by referring friends and family when they're approved for a Capital One credit card
- Earn 8% cash back on entertainment purchases when you book through the Capital One Entertainment portal
- Build your credit with responsible card use
- Whether you're at a 4-year university, community college or other higher education institution, this card might be an option for you
- Top rated mobile app
Balance transfer fee
4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Information about Discover cards has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication.
Discover it Student Cash Back vs Capital One Savor Student Cash Rewards Credit Card
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Annual fee
Both the Discover it Student Cash Back and the Capital One Savor Student Cash Rewards Credit Card do not charge annual fees.
Winner: Tie
Welcome bonus
With the Discover it Student Cash Back, new cardholders will have all the cash back they earn through their first year matched by Discover, with no maximum limit. The Capital One Savor Student Cash Rewards Credit Card offers a one-time earn $100 when you spend $300 in the first three months.
Both of these student cards offer welcome bonuses, and the Capital One card has a straightforward requirement and is easily obtainable. The Discover card offers a more unique welcome bonus by matching the cash back you earn in a year, so its value could vary greatly depending on your spending.
Winner: The Discover it Student Cash Back card, for it's higher potential value
Rewards
While both cards offer rewards, the value can be very different depending on your spending habits.
Discover it® Student Cash Back and Capital One Savor Rewards for Students rewards comparison
| Discover it® Student Cash Back | Capital One Savor Rewards for Students | |
|---|---|---|
| Grocery Stores | 1% cash rewards | 3% cash rewards |
| Dining | 1% cash rewards | 3% cash rewards |
| Entertainment | 1% cash rewards | 3% cash rewards |
| Streaming Services | 1% cash rewards | 3% cash rewards |
| Capital One Travel | N/A | 5% cash rewards (Terms apply) |
| Rotating categories | 5% cash rewards (up to the quarterly maximum when you activate) | N/A |
| All other purchases | 1% cash rewards | 1% cash rewards |
The Discover it Student Cash Back gives you 5% cash back on the first $1,500 in purchases in rotating categories each quarter (when you activate), then 1% cash back. Check out Discover's 5% cash-back calendar to stay up-to-date on the latest categories. While the 5% is nice, depending on the rotating categories you could get stuck with some that you don't use often. To earn the 5% back with the Discover card you need to activate the rewards each quarter, and there is a cap.
The Capital One Savor Student Cash Rewards Credit Card skips the rotating categories and offers you a flat 3% back at grocery stores (excludes superstores like Walmart and Target), on dining, entertainment and popular streaming services. While the rewards rate might be a bit lower than the Discover it card, the categories won't change on you, so you'll always be able to earn the bonus cash back.
Both of these cards offer a solid rewards program for students, with the main difference being if you prefer rotating categories or fixed ones. If you tend to jump around with your spending and enjoy trying new things, the Discover it Student card may be a better match. If you're typically spending a lot of your funds on a select few categories like dining or streaming services, the Capital One card might be a good fit.
Winner: Capital One Savor Student Cash Rewards Credit Card. Mostly comes down to spending habits, but the Capital One card offers an easier system for most with uncapped rewards.
Redemption options
With the Discover it Student Cash Back and the Capital One Savor Student Cash Rewards Credit Card, both these cards offer fairly similar redemption options.
The Discover it Student Cash Back offers four different ways to redeem, as cash (a statement credit or deposit to your bank account), paying with rewards at Amazon, Apple Pay or PayPal, gift cards, or to a charitable cause.
The cash back you earn with the Capital One Savor Student Cash Rewards Credit Card can be redeemed either as cash for a statement credit or check, applied to recent purchases or as gift cards.
Your reward will never expire with either of these cards, so you don't have to worry about losing your cash back. Both cards provide straightforward redemption options for a cash-back credit card with neither card gaining a clear advantage.
Winner: Tie
Benefits
While some of the additional benefits vary, neither of these cards charge foreign transaction fees.
The Discover it Student Cash Back offers an intro APR on the card, but be sure to have a repayment plan in mind to avoid any interest charges. Discover also offers online privacy protection which can help remove your personal information from some online websites.
While still somewhat limited, the Capital One Savor Student Cash Rewards Credit Card has a few perks that you might be able to take advantage of:
- Extended warranty
- Travel accident insurance
- Complimentary concierge service
- Access to Capital One Dining and Capital One Entertainment
Winner: Capital One Savor Student Cash Rewards Credit Card
Which should you get?
The Discover it Student Cash Back and the Capital One Savor Student Cash Rewards Credit Card are great student credit cards with slightly different reward systems and benefits.
The Discover it® Student Cash Back card could be a good option for students who spend in a number of different categories. You'll be able to take advantage of that 5% cashback when applicable, plus any cash back you earn within your first year goes towards your welcome bonus match.
When considering the Capital One Savor Student Cash Rewards Credit Card, this could appeal to more consistent spenders who want to earn that 3% cash back on their favorite categories, plus the extended warranty is a nice plus for some extra protection.
Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.
FAQs
How can I get approved for Capital One Savor Student Cash Rewards Credit Card?
To qualify for the Capital One Savor Student Cash Rewards Credit Card you must be enrolled at a 4-year university, community college or other higher education institution and typically requires a credit score of fair or lower.
What places don't accept Discover?
Most places accept Discover cards as they are accepted nationwide by 99% of the places that take credit cards. However, outside of the U.S. you may find it more difficult to use your Discover card.
Do Capital One Savor Rewards expire?
No, your Capital One Savor Rewards do not expire, but you may lose any rewards if your account is closed.
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For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
