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Key takeaways
- Both the Capital One Savor Student Cash Rewards Credit Card and the Bank of America® Customized Cash Rewards credit card for Students for Students are good cards for college students who want to earn cash back on their spending.
- The Savor Student Cash card earns an unlimited 3 percent cash back in several popular spending categories.
- The Customized Cash Rewards for Students offers a nice welcome bonus, earns boosted cash back rates in certain categories and comes with an introductory APR on both purchases and balance transfers.
The Capital One Savor Student Cash Rewards Credit Card and the Bank of America® Customized Cash Rewards credit card for Students* both offer solid cash back programs and no annual fee, making them good choices for college students looking for an affordable way to earn cash back on their purchases. So which card is better for you? That depends on your monthly spending habits and whether you have existing credit card debt that you need to pay off.
We’ll take a look at the similarities and differences between the Capital One Savor Student Cash card and the Bank of America Customized Cash Rewards for Students to help you determine which is the better fit for your wallet.
Main details
| Capital One Savor Student Cash Rewards Credit Card | Bank of America® Customized Cash Rewards credit card for Students | |
|---|---|---|
| Welcome bonus | Earn a single $50 cash bonus when you spend $100 in the first 3 months | Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening |
| Rewards rate |
|
|
| Intro APR | N/A | 0% intro APR on purchases and balance transfers for 15 billing cycles (then a 18.24% – 28.24% Variable APR on purchases and balance transfers); balance transfers must be made in first 60 days after account opening to qualify; 3% balance transfer fee applies for first 60 days from account opening (4% after) |
| Annual fee | $0 | $0 |
| Foreign transaction fees | None | 3% fee on foreign transactions |
Capital One Savor Student Cash Rewards vs. Bank of America Customized Cash Rewards for Students
Welcome bonus winner
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The Capital One Savor Student Cash Rewards offers a $50 cash bonus after spending $100 in the first 3 months of account opening, which is a very attainable welcome bonus. However, the Bank of America Customized Cash Rewards for Students offers a larger — yet still attainable — welcome bonus of $200 if you spend $1,000 during the first 90 days of account opening.
Rewards rate winner
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Both of these student-focused credit cards offer rewards programs. The Capital One Savor Student Cash, though, comes with fewer limits and restrictions.
With the Savor Student Cash, you’ll earn:
- 8 percent cash back on Capital One Entertainment purchases
- 5 percent cash back on hotels and rental cars booked through Capital One Travel
- 3 percent cash back on dining, qualifying entertainment, select streaming services and grocery purchases (excluding superstores like Walmart and Target)
- 1 percent cash back on all other purchases
The key here is that the Savor Student Cash card offers unlimited rewards, unlike the Bank of America Customized Cash for Students.
The Bank of America Customized Cash for Students earns 3 percent cash back in the category of your choice. You can choose from:
- Gas and EV charging stations
- Online shopping (including cable, internet, phone plans and streaming)
- Dining
- Drugstores
- Pharmacies
- Travel
- Home improvement/furnishing stores
You’ll also earn 2 percent back at grocery stores and wholesale clubs, as well as 1 percent cash back on all other purchases. The downside is that the 2 percent and 3 percent categories are capped at $2,500 in combined spending each quarter. After you hit that limit, you’ll earn 1 percent cash back in those categories.
Introductory APR winner
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Since the Savor Student Cash card does not offer an introductory APR, the Bank of America Customized Cash Rewards for Students easily wins this category.
With the Customized Cash Rewards for Students, you’ll enjoy a 0 percent introductory APR for the first 15 billing cycles on both purchases and balance transfers (18.24% – 28.24% Variable APR on purchases and balance transfers APR after). However, balance transfers must be completed within the first 60 days after opening the account to qualify. Balance transfers are also subject to a 3 percent balance transfer fee for the first 60 days after account opening (4 percent fee after).
Annual fee winner
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Neither the Savor Student Cash nor the Customized Cash Rewards for Students charges an annual fee.
Foreign transaction fee winner
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The Capital One Savor Student Cash Rewards card is the clear winner in this category since it does not charge any foreign transaction fees on purchases made outside of the U.S. The Bank of America Customized Cash for Students, however, charges a 3 percent fee on each transaction made abroad or online in a foreign currency.
Which card earns the most?
Which of these two cards will give you the most cash back? That largely depends on what you spend your money on and how much you spend each month.
Capital One Savor Student Cash Rewards vs. Bank of America Customized Cash Rewards for Students spending example
Let’s say your monthly spending looks like this:
- Groceries: $200
- Dining: $200
- Streaming: $20
- General purchases: $150
With the Capital One Savor Student Cash, you’ll get 3 percent back on groceries, dining and streaming, plus 1 percent back on general spending. And because the 3 percent cash back is unlimited, you won’t have to worry about only earning 1 percent back once you reach a spending limit. In this example, you’ll earn $14.10 in cash back on your monthly spending, which breaks down as:
- Groceries: $6
- Dining: $6
- Streaming: $0.60
- General purchases: $1.50
With the Bank of America Customized Cash Rewards for Students, you’ll earn 3 percent cash back in the category of your choice. Let’s say you choose dining as your 3 percent category. Add on 2 percent cash back for groceries and 1 percent cash back on general purchases, and you’ll earn $11.70 on your monthly spending:
- Groceries: $4
- Dining: $6
- Streaming: $0.20
- General purchases: $1.50
In this example, the Savor Student Cash earns more. However, the card that would earn more for you comes down to your spending habits and whether you spend more in bonus categories not offered by the Savor Student Cash card — like gas, online shopping or home improvement.
Why should you get the Capital One Savor Student Cash Rewards?
The Capital One Savor Student Cash is one of the best student credit cards available today, largely due to its solid rewards program. The ability to earn an unlimited 3 percent cash back on a wide variety of purchases is a positive, especially with a card geared toward students who might not have the highest credit score. Plus, students can earn 5 percent cash back on hotels and rental cars booked through Capital One Travel and 8 percent cash back on Capital One Entertainment purchases.
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The Capital One Savor Student Cash Rewards comes with zero fraud liability, meaning that — if your card is lost or stolen — you won’t pay for unauthorized charges. It also comes with extended warranty protection on eligible items, travel accident insurance, travel assistance services and a complimentary 24/7 concierge service.
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You can redeem cash back for checks, statement credits, gift cards or shopping at Amazon.com or via PayPal. You can also use your cash back to directly cover a recent purchase made with your card.
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Capital One recommends that applicants have fair to good credit when applying for this card, which is a FICO score of 580 to 740.
Why should you get the Bank of America Customized Cash Rewards for Students?
The best reason to apply for the Bank of America Customized Cash Rewards for Students is if you spend a lot each month in one of the card’s optional 3 percent categories. If you do, you’ll have the potential to earn a lot of cash back. Additionally, if you need to make a large purchase or pay off existing debt, the card’s introductory APRs on purchases and balance transfers could make it a great fit.
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The Customized Cash Rewards for Students comes with zero fraud liability, overdraft protection, account alerts and free access to your FICO credit score.
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You can redeem your cash rewards for a check, statement credits, deposits made directly to a Bank of America checking or savings account or as a credit to an eligible account with Merrill, like a 529 college savings account.
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A good to excellent credit score is recommended to qualify for the Bank of America Customized Cash Rewards for Students. This means that the card is not a good choice for students with limited to no credit history.
The bottom line
Both the Capital One Savor Student Cash Rewards and the Bank of America Customized Cash Rewards for Students have a solid rewards program and no annual fee. To choose the right student credit card, take a look at your spending habits and which categories you spend the most in.
For example, the Savor Student Cash card might be a better fit if you spend a lot on dining, entertainment, travel and groceries. And because there’s no limit to how much you can earn, you have the potential to earn a solid amount of cash back each month.
However, if you tend to spend a lot in a category that the Savor Student Cash doesn’t offer (like gas or online shopping), the Bank of America Customized Cash Rewards for Students might generate more in cash back. It also offers a larger welcome bonus and introductory APRs on both purchases and balance transfers that you can enjoy.
The Bank of America content in this post was last updated on August 25, 2025.
*The information about the Bank of America® Customized Cash Rewards credit card for Students has been collected independently by Bankrate. The card details have not been reviewed or approved by the card issuer.
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