Key Points

• Discover offers rotating 5% categories and matches all cash back in your first year, while Capital One gives consistent 3% on dining, entertainment, and groceries.
• Both cards have no annual fee and help build credit, but Discover is better for maximizing rewards with effort while SavorOne works better for consistent everyday spending.
• Your decision depends on whether you prefer tracking quarterly categories for higher rewards or want a simple set-it-and-forget-it rewards structure.

Introduction

Choosing your first credit card as a student shouldn't feel overwhelming, but when you're comparing the Discover it Student Cash Back vs Capital One SavorOne Student cards, the decision matters more than you might think. Both offer solid cash back rewards with no annual fee, making them two of the most popular student credit cards available. But here's the thing: they reward spending in completely different ways, and picking the wrong one could mean leaving hundreds of dollars on the table during your college years.

I'm breaking down exactly how these cards stack up, who should get which one, and why your spending habits should drive this decision. Let's find the right card for your wallet.

Quick Comparison Summary

Discover it Student Cash Back - Best For: Maximizers who don't mind tracking categories

• Rewards Structure: 5% cash back on rotating quarterly categories (up to $1,500 per quarter), 1% on everything else
• Welcome Bonus: Cash Back Match - Discover matches all cash back earned in your first year
• Annual Fee: $0
• Standout Benefit: First year cash back match essentially doubles your rewards

Capital One SavorOne Student - Best For: Students who eat out and prefer consistency

• Rewards Structure: 3% cash back on dining, entertainment, popular streaming, and grocery stores; 1% on everything else
• Welcome Bonus: Varies (typically $50-100 statement credit after spending threshold)
• Annual Fee: $0
• Standout Benefit: Set-and-forget rewards on categories students actually use

Rewards Structure: Where These Cards Really Differ

Discover it Student Cash Back: The Rotating Category Strategy

The Discover it Student Cash Back uses rotating quarterly categories that change every three months. You'll earn 5% cash back on up to $1,500 in purchases per quarter (that's $75 in rewards) in categories like gas stations, grocery stores, restaurants, Amazon, or PayPal.

Here's what that looks like in practice: If Q1 offers 5% at grocery stores and you spend $300/month on groceries for three months, you'll earn $45 in cash back just from that category. The catch? You need to activate these categories each quarter through the Discover app or website, and if you forget, you'll only earn the standard 1% rate.

The real power move with the Discover card is the Cash Back Match feature. During your first year as a cardmember, Discover automatically matches all the cash back you've earned. So if you earned $300 in your first year, Discover adds another $300. This effectively means you're earning 10% in bonus categories and 2% on everything else for 12 months.

Capital One SavorOne Student: The Consistent Earner

The Capital One SavorOne Student card takes a simpler approach: 3% cash back on dining, entertainment, popular streaming services, and grocery stores (excluding superstores like Walmart and Target). You'll earn 1% on everything else, with no caps or category activation required.

For a typical student spending $200/month eating out, $50 on streaming services, and $150 at grocery stores, you'd earn $144 annually in cash back at the 3% rate, plus whatever you earn at 1% on other purchases. The appeal here is consistency—you never have to remember to activate anything or track which quarter offers what category.

Which Card Earns More? Let's Do the Math

The answer depends entirely on your spending patterns. Let me show you two common student spending scenarios:

Scenario 1: The Category Tracker

• Monthly grocery spending: $200
• Monthly gas spending: $100
• Monthly dining: $150
• Other spending: $200

With Discover (assuming you maximize quarterly categories and hit the $1,500 cap each quarter):

• Year 1: $300 in 5% categories ($75 × 4 quarters) + $78 in 1% categories = $378 base rewards
• Cash Back Match doubles this: $756 total first year
• Year 2+: $378 annually

With Capital One SavorOne:

• Dining (3%): $200 × 12 × 0.03 = $72
• Groceries (3%): $150 × 12 × 0.03 = $54
• Other (1%): $300 × 12 × 0.01 = $36
• $162 total annually

Verdict: Discover wins by a massive margin in year one if you max out categories. But notice the effort required—you need to activate categories quarterly and strategically spend to hit caps.

Scenario 2: The Frequent Diner

• Monthly dining/takeout: $400
• Monthly groceries: $150
• Streaming services: $30
• Other spending: $220

With the SavorOne Student card:

• Dining (3%): $400 × 12 × 0.03 = $144
• Groceries (3%): $150 × 12 × 0.03 = $54
• Streaming (3%): $30 × 12 × 0.03 = $10.80
• Other (1%): $220 × 12 × 0.01 = $26.40
• $235.20 total annually

With Discover (assuming dining is only a 5% category for one quarter):

• If you max dining in that one quarter: $75
• Other categories throughout the year: roughly $150-200
• Year 1 with Cash Back Match: $450-550
• Year 2+: $225-275

Verdict: Capital One provides more consistent rewards for students who spend heavily on dining year-round, while Discover's first-year match still wins but requires more attention.

Welcome Bonuses and First-Year Value

This is where Discover pulls ahead dramatically. The Cash Back Match means whatever you earn in year one gets doubled. If you're strategic and earn $400 in cash back during your first 12 months, Discover will add another $400 for a total of $800. That's an incredible head start for a student card with no annual fee.

The Capital One SavorOne Student typically offers a smaller welcome bonus—usually a statement credit after hitting a minimum spending threshold. While still valuable, it doesn't compare to the potential of Discover's first-year match if you're willing to maximize it.

Building Credit: Both Cards Excel Here

One of the main reasons you're getting a student credit card is to build credit history, and both cards handle this well. Discover and Capital One both report to all three major credit bureaus (Experian, TransUnion, and Equifax), meaning your responsible payment history helps establish your credit profile.

The Discover card offers a unique advantage with free access to your FICO credit score, which updates monthly. This is genuinely helpful when you're learning about credit and want to track your progress. Capital One provides access to CreditWise, which shows your VantageScore (a different scoring model) but still helps you monitor your credit.

For more on how these cards fit into a broader credit-building strategy, check out our guide on building credit quickly as a young adult.

Additional Benefits and Perks

Discover it Student Cash Back Perks

• Good Grades Reward: $20 statement credit each school year you maintain a 3.0 GPA or higher (for up to 5 years)
• Free FICO Score: Track your credit score monthly
• No Foreign Transaction Fees: Use it abroad without extra charges
• Purchase Protection: Coverage for damaged or stolen items
• Extended Warranty: Extends manufacturer warranty by one year

Capital One SavorOne Student Perks

• No Foreign Transaction Fees: Great for study abroad
• Extended Warranty: Adds coverage to eligible purchases
• Travel Accident Insurance: Coverage when traveling on common carrier
• 24/7 Concierge: Help with travel, dining, and entertainment reservations

Discover's GPA reward is a nice touch that could net you $100 over five years if you maintain good grades. Both cards offer no foreign transaction fees, which matters if you're studying abroad or traveling during college.

Redemption Options: Simple Cash Back

Both cards keep redemption straightforward, which is exactly what you want as a student. You can:

• Redeem for statement credits
• Get direct deposits to your bank account
• Shop with cash back at Amazon (both cards)
• Donate to charity

Neither card has minimum redemption amounts or makes you jump through hoops. Discover lets you redeem cash back in any amount, while Capital One allows redemption in increments as low as $25 for most options.

Approval Odds: Which Card Is Easier to Get?

Both cards are designed specifically for students with limited or no credit history, so your approval odds are similar. However, there are some differences:

Discover it Student Cash Back: Discover is generally known for being friendly to credit newcomers. They consider factors beyond just credit score, including your income (even if it's from a part-time campus job) and your status as a student. Many first-time credit card applicants get approved.

Capital One SavorOne Student: Capital One also markets specifically to students, but some reports suggest they can be slightly pickier about approving applicants with zero credit history. However, if you have any credit history at all (like being an authorized user on a parent's card), your approval odds are strong.

If you're worried about approval odds and have limited credit history, applying for the Discover card might be your safer bet. Want to understand more about getting your first credit card? Our article on getting your first credit card walks through the entire process.

Pros and Cons Breakdown

Discover it Student Cash Back

Pros:

• Cash Back Match doubles all first-year rewards—unbeatable for new cardholders
• 5% rotating categories offer higher earning potential than most student cards
• $20 annual GPA bonus for good grades
• Free FICO score monitoring helps you learn about credit
• Strong approval odds for students with limited credit

Cons:

• Requires quarterly category activation (miss it and you earn only 1%)
• $1,500 quarterly cap means rewards potential is limited
• After year one, the Cash Back Match ends and earning rates become less impressive
• Base 1% rate on non-category spend is below average

Capital One SavorOne Student

Pros:

• Consistent 3% on dining, entertainment, and groceries requires zero effort
• Perfect for students who eat out frequently or have regular streaming subscriptions
• No caps on 3% earning categories
• Simple to use with no category tracking needed
• Access to Capital One entertainment events and experiences

Cons:

• No first-year bonus match like Discover offers
• 3% categories are limited compared to rotating options
• Grocery rewards exclude superstores (Walmart, Target, etc.)
• Lower total rewards potential compared to maximized Discover usage

Who Should Get Which Card?

Get the Discover it Student Cash Back if you:

• Want to maximize rewards in your first year with the Cash Back Match
• Don't mind activating quarterly categories and tracking your spending
• Can strategically shift spending to hit the $1,500 quarterly cap in bonus categories
• Want the $20 GPA reward as extra motivation to maintain good grades
• Have very limited credit history and want strong approval odds
• Like the idea of learning about credit scores with free FICO monitoring

The Discover it Student Cash Back card is ideal for students who are willing to put in a little effort for significantly higher rewards, especially in that crucial first year.

Get the Capital One SavorOne Student if you:

• Spend heavily on dining, whether restaurants or food delivery
• Want consistent rewards without thinking about categories
• Don't want to deal with quarterly activation or spending caps
• Pay for multiple streaming services (Netflix, Spotify, etc.)
• Prefer simplicity over maximum optimization
• Shop primarily at actual grocery stores rather than Walmart or Target

The SavorOne Student card works best for students who want reliable cash back on their everyday spending without any mental overhead.

Can You Get Both Cards?

Absolutely, and there's actually a strategic argument for having both if you're responsible with credit. Here's how it could work:

1. Start with Discover: Get the Discover card first to take advantage of the Cash Back Match in year one. Focus on maximizing those quarterly categories.
2. Add SavorOne later: After 6-12 months of responsible Discover usage, apply for the SavorOne card to cover your consistent dining and entertainment spending.
3. Use strategically: Put rotating category spend on Discover, everything else on SavorOne.

Just remember: Having multiple cards only makes sense if you can manage them responsibly, pay them off in full each month, and won't be tempted to overspend. If you're building credit for the first time, starting with one card and proving you can handle it is the smarter move.

Important Student Credit Card Considerations

Regardless of which card you choose, here are the fundamentals every student needs to understand:

Pay Your Balance in Full Every Month: This is non-negotiable. Both cards charge APRs in the high teens to mid-20s. Even $30 in interest charges will wipe out most of your cash back rewards. Set up autopay for at least the minimum payment, but always pay your statement balance in full.

Keep Your Utilization Low: Try to use less than 30% of your credit limit, and ideally under 10%. If you have a $1,000 limit, keeping your balance below $300 (and paying it off monthly) helps your credit score. For more on this, read our guide on understanding credit utilization.

Don't Spend More to Earn Rewards: It's tempting to say "I'll spend $1,500 this quarter to max out my 5% category," but if you're buying things you don't need, you're losing money. Rewards should be a bonus on spending you were doing anyway.

Build Good Habits Now: The credit habits you develop in college stick with you. Paying on time, staying under your limit, and not carrying a balance will set you up for better credit cards (and better rates on car loans, apartments, and eventually mortgages) down the road.

After College: What Happens to These Cards?

A smart question not enough students ask: what happens when you graduate? Both cards transition smoothly into your post-college life since they're essentially regular credit cards with student-friendly approval criteria.

After graduation, your Discover it Student Cash Back automatically converts to the regular Discover it Cash Back card with the same terms. You keep your account history, credit limit, and card number—it's seamless.

The Capital One SavorOne Student similarly transitions to the regular SavorOne card. In both cases, you won't lose your credit history or have to reapply.

That said, once you graduate and establish a solid credit score (700+) and steady income, you might want to consider upgrading to cards with better rewards. Check out our guide to the best travel credit cards to see what premium options open up with good credit.

Frequently Asked Questions

Can I get both the Discover and Capital One student cards?

Yes, you can hold both cards simultaneously. However, if you're new to credit, it's often better to start with one card, use it responsibly for 6-12 months, and then add a second card once you've established good payment habits and improved your credit score.

Will getting a student credit card hurt my credit score?

Applying will cause a small temporary drop (usually 5-10 points) due to the hard inquiry, but building positive payment history over time will more than make up for it. Getting a student card and using it responsibly is one of the best ways to build credit from scratch.

What's the difference between the student and regular versions of these cards?

The main difference is that student versions are designed to approve applicants with limited or no credit history. The rewards, benefits, and terms are virtually identical to their non-student counterparts. When you graduate, your student card transitions seamlessly to the regular version.

How much of a credit limit will I get as a student?

Most students start with credit limits between $500 and $2,000, depending on their income and credit history. You can request a credit limit increase after 6-12 months of responsible use, and both issuers regularly review accounts for automatic increases.

Do I need a co-signer for a student credit card?

No, neither the Discover nor Capital One student cards require a co-signer. However, you will need to show proof of independent income (even part-time campus work counts) if you're under 21. If you're 21 or older, you can include household income in your application.

Which card is better for studying abroad?

Both cards charge no foreign transaction fees, making them both good options for international use. The decision comes down to whether you prefer Discover's wider acceptance in the U.S. paired with rotating categories, or Capital One's consistent dining rewards if you're eating out frequently abroad.

Final Verdict: Which Card Should You Choose?

Here's the bottom line: if you're willing to put in minimal effort for maximum rewards, especially in your first year, the Discover it Student Cash Back is hard to beat. The Cash Back Match alone makes it the superior choice for your first 12 months, and the 5% rotating categories can yield significantly more rewards if you're strategic.

However, if you eat out regularly, prefer simplicity, and don't want to think about activating categories or hitting spending caps, the Capital One SavorOne Student delivers consistent value on purchases students actually make. It's the better set-it-and-forget-it option that still outpaces most student cards.

The good news? You can't really go wrong with either choice. Both cards have no annual fee, strong student-friendly approval criteria, and help you build credit while earning cash back. Pick the one that matches your spending style and commitment level, use it responsibly, and you'll be setting yourself up for credit success that extends well beyond your college years.

For more guidance on building credit as a student, check out our comprehensive guide on the best student credit cards for 2025.

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