Journey® Student Rewards from Capital One® Review



Journey® Student Rewards from Capital One®

Rewards

1% cash back on net purchases, extra 0.25% (for a total of 1.25%) cash back for on-time payment

Bonus Signup Offer

none

Perks

  • Earn 1% cash back on all your purchases. Pay on time to boost your cash back to a total of 1.25% for that month
  • There’s no limit to the amount of cash back you can earn, and rewards don't expire
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • Pay no annual or foreign transaction fees
  • Fraud coverage if your card is lost or stolen
  • Pick the monthly due date that works best for you

Expert Walkthrough

Perks of Having a Journey Student Rewards from Capital One

  • Easy Credit Increases. Pay on time for the first five months, and they might offer to increase your credit. According to some user reviews, paying more than the minimum payment can speed up the waiting time, or result in a bigger credit increase.
  • 1% Cash back for ALL purchases. Cash back redemption isn’t limited to any type of purchase. Whether that’s groceries, gas, take out, or Amazon textbooks, that’s all counted. There’s no limit on the amount of rewards you can earn, too.
  • Reward for On-time Payments. Get extra 25% cash back if you pay your bills on time.
  • Rewards that Don’t Expire. Your rewards are active as long as your account is. If you want to save it for a big purchase or special occasion, you can accumulate the rewards and redeem it when you’re ready.
  • Flexible Redemption. Unlike other cards, there’s no minimum amount required for withdrawing cash back rewards. You can receive your rewards via check, or have it deposited to your account. Automatic redemption options are also available.
  • No Foreign Transaction Fees. Whether you’re going on a student exchange program, or taking a gap year abroad, you don’t have to worry about added fees for international transactions. Foreign transaction fees might seem insignificant for one or two purchases, but these easily add up to a hefty sum if you’re traveling. Capital One’s Journey Student Rewards card helps you save money even if you’re on the road.
  • Fraud Coverage. Unauthorized transactions are covered by the card’s $0 Fraud Liability protection. You’re also covered against transactions made on lost or stolen cards.
  • Free Credit Score Every Month. Capital One’s Journey Student Rewards card print and online statement comes with a free credit score. You can also check your credit score every week using their Android or iOS app. The score used to come from FICO, but the new system uses TransUnion VantageScore 3.0.
  • Free Credit Tracker, Now Called Credit Wise. Use the app’s simulator to figure out if a payment, transaction, or new account will affect your credit score. Credit Wise will send you notifications about factors that may affect your financial credibility, including requests to get your credit report, newly opened accounts, and delinquent accounts. You’ll also receive alerts on changes to your employment, address, or any public record on TransUnion’s file.

Journey® Student Rewards from Capital One® Add-ons: Visa Platinum Benefits

  • Travel Accident Insurance. People don’t realize they need insurance until the unthinkable happens. That’s why Capital One gives you $100,000 insurance that covers loss of life or limb for travel tickets paid in full using your credit card.
  • Extended Warranty Protection on Eligible Purchases. Get up to one more year extended warranty protection for eligible items purchased using your credit card. Only items with a U.S repair warranty of three years or less are eligible for this.
  • Auto Rental Insurance. Pay for car rentals using your credit card to get free auto insurance against theft or collision damage.
  • 24-hour Travel Assistance Service. You can report your card stolen anytime, and get an emergency card replacement and cash advance, if you need it.

Who Is It For?

Don’t let the name fool you. Journey Student Rewards from Capital One isn’t just for students. This card is a good choice for you if:

  1. You’re a student, or just relocated to the U.S. with a limited or non-existent credit history.
  2. You have defaulted on a loan within the last five years.
  3. You want to improve a bad credit score. As long as you pay on time, your credit score and limit can improve in as little as three months.

The Journey Card Capital One isn’t for you if:

  1. You need a high credit limit. Depending on your credit score, your limit can start as low as $300. This makes it difficult to use the card for big purchases.
  2. You’re looking for high-rewards card. Capital One Journey Student Rewards card only offers a total of 1.25% cash back, which is low compared to other cards you can get with an average credit score. For instance, Discover it® chrome for Students card offers 2% cash back on restaurants and gas stations, and 1% on other categories.
  3. You can’t make payments on time. A Capital One Journey card review reveals that your APR may increase due to late payments. But it won’t go down even as your payment habits and credit limit improves.
  4. You can’t make minimum payments. Late payments are charged a $35 late fee.
  5. You can’t use your points for to pay the minimum monthly payment, too. But the points cover the remaining part of your monthly balance.
  6. You’re looking for a credit card with low interest rate. The 20.24% Variable APR makes it an expensive card for anyone carrying a substantial balance.

The Verdict

The Journey Students Reward Card from Capital One is a great starter card for students, and anyone looking to build up their credit score.

Many first time credit card users don’t realize how easy it is to get buried in debt and ruin their credit score. Capital One’s credit management tools and their incentive for on-time payments makes this card a good training tool for improving anyone’s money management habits.



Journey® Student Rewards from Capital One® Reviews

Nerdwallet

If you’re looking for a simple, no-annual-fee card that can help you build your credit and eventually qualify for better terms, this card delivers – especially if you pay on time.

Money Crashers 2016-08-13

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.

Beverly Harzog 2013-03-21

Overall a good choice for your first credit card. I give it a thumbs-up rating without any hesitation.

Value Penguin 2016-10-22

If you're applying for your first credit card, and value ease of use above all else, the Capital One Journey card is a good choice.

Reviews.com 2015-11-05

Designed for college students with limited or average credit. Text and email alerts can help you stay on top of your account, but no introductory interest rates may make this card more expensive in the short run.

Credit Card Forum 2016-06-10

With it’s excellent rewards program it can justify a place in your wallet as a primary card well down the road.

lendedu 2016-03-18

The additional rewards for making responsible credit card payments is an good way to ensure that the next generation of credit builders learn the practice effectively.

Card Ratings

As you get older and gain more money management experience and if you use credit responsibly you could certainly apply for credit cards with better interest rates. Until then, it's one of the best student cash-back credit cards you'll find.

RewardsCreditCards.org

Undeniably, in the student card market itself, where interest rates are almost always high, the Capital One Journey Student Rewards credit card gains best in category as far as fees and rewards.

Credit Shout 2015-10-05

Provides great benefits to students looking to build their credit. The rewards and benefits available with this card are usually not available to consumers with average or limited credit. ​