Journey® Student Rewards from Capital One® – Review

Journey® Student Rewards from Capital One® – Review

Learn more about this card and find out how you can apply here.

Journey® Student Rewards from Capital One® is a popular student credit card with no annual fee, a solid cash back program that rewards general spending, and relatively loose credit standards that make it a plausible first credit card choice.

It shares the limelight with several other popular student cards. Its chief competitors include Discover it for Students, Discover it Chrome for Students, and Citi ThankYou Preferred for College Students. It’s also comparable to certain secured credit cards that appeal to students who wish to build or improve their credit.

The Capital One Journey Student Card earns an unlimited 1% cash back on all purchases. If your account is not past due on the last day of the billing cycle, you receive a bonus equal to 0.25% of the cash back you earned during the cycle, for a total cash back rate of 1.25%. There’s no limit to the amount of cash back you can earn, and rewards don’t expire.

You can redeem your accumulated cash back in any amount, at any time, for a statement credit or paper check. You can also set up automatic redemptions, either at a set time each calendar year, or when you cross a specified threshold: $25, $50, $100, or $200.

Capital One automatically considers you for a credit line increase if you make your first 5 payments in a timely manner. Your credit line may continue to increase with further timely payments, though Capital One makes no guarantees on this point.

This card does not have an annual fee, foreign transaction fee, or balance transfer fee. The late payment fee is $35, and the cash advance fee is the greater of $10 or 3% of the advanced amount.

Each month, you get a free credit score with your paper or online statement, thanks to the Capital One CreditWise suite. You’re also able to check your score on demand in your online account dashboard. Additionally, Capital One CreditWise includes a host of credit-building tools and educational content for free.

This card comes with some practical fringe benefits, including 24/7 emergency card replacement for travelers and complimentary rental car insurance when you charge the full cost of the rental to your card.

This card is for students with average, fair, or even limited credit. A few credit blemishes likely won’t disqualify your application, though serious issues (such as recent bankruptcy) probably will.

Journey® Student Rewards from Capital One® doesn’t have the most generous cash back rewards program, lowest APR, or juiciest benefit lineup. But, for students just starting out on the path to financial fitness, it can be an incredibly powerful spending aid.

Every timely payment made with this card demonstrates to Capital One and future credit card issuers that you’re capable of managing credit responsibly. In just 5 months, your diligence and self-restraint could pay off with a higher credit line. Over a longer period of time, you’ll prove to risk-averse lenders that you’re a good candidate for higher-end cards with more generous rewards and favorable terms. And, by then, you likely won’t be eking by on a student budget.

Learn more about this card and find out how you can apply here.

Journey® Student Rewards from Capital One® appeals to students who like low fees and flexible cash back rewards on general spending. It’s not ideal for students who want rewards they can redeem for merchandise or travel, nor for students with very poor credit.

Minimal fees, cash back rewards program, and on-time payment bonus are all nice perks. Lack of a sign-up bonus and introductory APR, flat-rate rewards capped at 1.25%, and no benefits for good grades are drawbacks. Overall, this is a great student credit card to get started.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Categories: Capital One, Credit and Debt, Credit Cards, Reviews

Brian Martucci writes about frugal living, entrepreneurship, and innovative ideas. When he’s not interviewing small business owners or investigating time- and money-saving strategies for Money Crashers readers, he’s probably out exploring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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