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Capital One adds more rewards for its student cards, expanded access to Capital One Travel

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Source: Capital One

Capital One announced Tuesday that the Capital One SavorOne Student credit card and Quicksilver Student card will now earn expanded rewards as well as a limited-time welcome bonus offer. In addition, all of Capital One’s credit cards will now earn 5% cashback for hotels and rental cars booked through the Capital One Travel service.

The Quicksilver Student card, SavorOne Student card, and the Journey Student card will now earn 5% cashback for hotels and rental cars booked through Capital One Travel. Furthermore, for a limited time, students with the Quicksilver Student card and SavorOne Student card can earn $100 cashback for spending $100 in the first three months of the account’s opening.

In addition to the expanded rewards and welcome bonus, cardholders of both cards are now able to earn up to $500 a year through Capital One’s Refer a Friend program. Each referral that ends in an approval for your friend will reward the cardholder with a $100 statement credit to be used as the cardholder sees fit. Starting May 17, cardholders also can redeem their cash rewards for travel through Capital One Travel at a 1:1 rate.

Rewards, including the $100 welcome bonus, can be redeemed as:

  • Statement credits
  • Gift cards
  • Online payments via PayPal
  • Coverage for recent purchases
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Source: Capital One

The new welcome bonuses are a nice incentive to get college students into the world of credit, and earn an easy $100 for doing so. The cards provide good rewards, require no annual fee, and are a good point of entry into credit. Neither card is complicated and both can help to build students’ responsible habits as well as their credit history.

If you study abroad and can book a hotel or car through Capital One Travel, 5% cashback is a strong rate, especially considering the lack of annual fee. Plus, neither card features a foreign transaction fee, so you can use it abroad without having to pay anything extra.  

Additionally, Capital One offers the CreditWise tool to cardholders and non-cardholders alike, where clients can monitor activity on their TransUnion credit report, keep an eye on their FICO credit score, and receive help in the event of identity theft. It even offers dark web alerts in case your email, Social Security number, or address end up on the seedier side of the internet, all for free.

 Here are both cards’ perks and rewards:

Card

Perks

Rewards

The SavorOne Student

  • No foreign transaction fees
  • Extended Warranty
  • Travel Accident Insurance
  • Concierge service
  • Access to Capital One CreditWise
  • 3% cashback for dining, entertainment, popular streaming services, and at grocery stores
  • 1% cashback for everything else

The Quicksilver Student

  • No foreign transaction fees
  • Extended Warranty
  • Travel Accident Insurance
  • Concierge service
  • Access to Capital One CreditWise
  • 1.5% cashback for every purchase

When comparing the two cards, the SavorOne student card will be more rewarding. It has the higher rewards rate and covers many of the purchases college students love to make. The Quicksilver covers those same purchases and then some, but it offers a lower rewards rate.

But regardless of the card, reaching the $100 bonus should be simple. Just use the Quicksilver for every purchase and the SavorOne for groceries and streaming, and cardholders will reach the bonus in no time.