Capital One Journey Student Rewards Review
The Capital One Journey Student Rewards credit card is designed for students looking to build their credit and earn rewards. This review delves into the card's rewards structure, credit-building benefits, and how it can help students establish a positive credit history.
The Capital One Journey Student Rewards Credit Card is designed specifically for students and is aimed at helping them build a positive credit history while providing some rewards and benefits. Here's a review of the Capital One Journey Student Rewards Credit Card:
Key Features and Benefits:
Cash Back Rewards: The Journey Student Rewards card offers 1% cash back on all your purchases. Additionally, you can earn a 0.25% cash back bonus for each month you pay your bill on time. This can increase your effective cash back rate to 1.25%.
Credit Limit Increase: With responsible use of your card, you may be eligible for a higher credit limit over time, which can help improve your credit score.
No Annual Fee: The card doesn't charge an annual fee, making it a cost-effective option for students.
Credit Education Tools: Capital One provides tools and resources to help you manage your credit responsibly, which is particularly beneficial for students who are new to credit.
No Foreign Transaction Fees: If you travel or study abroad, this card doesn't charge foreign transaction fees, which can save you money on international purchases.
Security Features: Capital One offers security features, including $0 fraud liability, which means you won't be held responsible for unauthorized charges on your card.
Purchase Benefits: The card may offer extended warranty protection on eligible purchases.
Considerations:
Credit Score Requirement: While this card is designed for students with limited or no credit history, you still need to meet Capital One's credit approval criteria, which may require a minimum credit score or other factors.
Interest Rates: Like many student credit cards, the interest rates can be relatively high. It's important to pay your balance in full each month to avoid interest charges.
Limited Rewards: The rewards rate of 1% (or 1.25% with the on-time payment bonus) is modest compared to some other credit cards. If you're looking for higher cash back rewards, you might want to explore other options.
Credit Building Focus: The card's primary benefit is to help students build or improve their credit history. It may not be the best choice if you're primarily looking for significant rewards or benefits.
The Capital One Journey Student Rewards Credit Card can be a good choice for students who want to start building their credit history, earn some cash back, and access educational resources. Responsible use of this card can help you establish a positive credit profile, which is valuable for your financial future. However, if you're primarily interested in higher rewards or more extensive benefits, you may want to consider other credit card options.
Analyzing the rewards and features of the Capital One Journey Student Rewards credit card..
The Capital One Journey Student Rewards credit card is a good option for students who are looking for a credit card with no annual fee and rewards for everyday spending. The card offers the following rewards and features:
Rewards:
- 1% cash back on all purchases
- 0.25% bonus cash back on all purchases when you pay your bill on time each month
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
Features:
- No annual fee
- $0 fraud liability
- CreditWise, a free credit monitoring and reporting tool
- $50 cash back bonus after spending $100 on purchases within the first 3 months from account opening
Analysis:
The Capital One Journey Student Rewards credit card offers a good combination of rewards and features for students. The 1% cash back on all purchases is a solid base rate, and the 0.25% bonus cash back for paying on time is a nice incentive to develop good credit habits. The unlimited 5% cash back on hotels and rental cars booked through Capital One Travel is also a valuable perk, especially for students who travel frequently.
The card also has a number of features that are beneficial for students, including no annual fee, $0 fraud liability, and CreditWise. The $50 cash back bonus after spending $100 on purchases within the first 3 months from account opening is also a nice welcome offer.
Overall, the Capital One Journey Student Rewards credit card is a good option for students who are looking for a credit card with no annual fee and rewards for everyday spending.
Here is a comparison of the Capital One Journey Student Rewards credit card to other popular student credit cards:
| Card | Annual fee | Rewards rate | Other features |
|---|---|---|---|
| Capital One Journey Student Rewards | None | 1% cash back on all purchases, 0.25% bonus cash back on all purchases when you pay your bill on time each month, unlimited 5% cash back on hotels and rental cars booked through Capital One Travel | $0 fraud liability, CreditWise, $50 cash back bonus after spending $100 on purchases within the first 3 months from account opening |
| Discover it® Student Cash Back | None | 5% cash back on rotating categories each quarter, up to $1,500 in combined purchases each quarter; 1% cash back on all other purchases | $0 fraud liability, cash back match at the end of your first year |
| Chase Freedom Unlimited® | None | 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining and drugstores, 1.5% cash back on all other purchases | $0 fraud liability |
As you can see, the Capital One Journey Student Rewards credit card compares favorably to other popular student credit cards. It offers a good rewards rate, no annual fee, and a number of other valuable features.
If you are a student who is looking for a credit card with no annual fee and rewards for everyday spending, the Capital One Journey Student Rewards credit card is a good option to consider.