Journey® Student Rewards from Capital One® is a student cash back credit card issued by Capital One, which allows students to build a credit score while in college, and also provides them with the opportunity to earn cash back rewards on practically all their spending.
If you are a parent looking for a credit card for your child, or are a student who is new with credit cards and would like to build your credit history as well as to earn rewards, read on.
Things We Like About This Card
No annual fee. You will receive all the benefits and rewards this card offers without having to pay any annual fee.
Get 1% cash back on all your purchases. This benefit lets you earn cash rewards on practically all of your spending, whether you spend money on textbooks, food or shampoo. For example, if you spend $400 each month, you will earn $4 cash back. Your cash rewards will really add up over time.
Get 25% bonus on the cash back you already earn each month from your spending each time you pay your bill on time. This basically rewards you just for paying on time! So for example, if you spend $400 each month and pay your card bill on time, you will earn $4 cash back, plus another $1 bonus cash back (25% of $4 cash back), giving you a total of $5 cash back for that month. This bonus cash back will appear on your statement two months after the payment that was made on time. So altogether you can earn a total of 1.25% cash back.
Redeem your cash rewards in the form of a check, statement credit or gift cards. The choice is yours: you can choose to get cold, hard cash, or apply your cash rewards towards your balance, or redeem for a gift card to surprise someone. You can even set up automatic redemption if that’s what works best for you to collect your cash back rewards.
Get your cash rewards anytime you want. There are 3 ways you can redeem your cash rewards: 1) call their Rewards Center toll-free, 2) do it online at the Rewards website, or 3) set up automatic redemption whenever you have reached a certain amount.
Your rewards don’t expire and there is no limit to the amount of cash back you can earn. If you want to save up for some special occasion, you can accumulate all the cash rewards to redeem at a later time. No worries about when your rewards are going to expire and there's no hurry to redeem them as you can redeem whenever you like.
Access a higher credit line after you make your 5 first monthly payments on time. This is a great card feature. To help you make your payments on time, this credit card lets you choose your monthly due date so that you can pick the date that is most convenient for you.
No balance transfer fee. This allows you to transfer your existing card debts (if any) from one card account to this one without having to pay any fee whatsoever. However, you should only shift your debts to this card if you are currently paying a higher interest rate than the one charged by this card. This card has a variable APR of 19.8% on balance transfers.
Get access to your credit score for free. This will help you monitor your credit score and learn how to improve it. You can also use the Capital One® Credit Tracker to learn how credit choices could influence your credit score.
Fraud coverage if your card is stolen or lost. This means that if your card is lost or stolen and is used to make purchases or cash advances, you won’t have to pay the card issuer for what was spent fraudulently.
Free text and e-mail alerts to keep you informed. This is a great advantage as you can be informed of your spending and can keep track of your finances more closely.
$100,000 travel accident insurance. If you pay for your travel tickets in full with this Visa Platinum card, you will be covered automatically up to $100,000 in the event of death or dismemberment.
Auto rental insurance which will cover the damage or collision of the qualified vehicle you’re renting. Just make sure to pay for your auto rental in full with this card.
Extended warranty protection. You will get up to 1 additional year of free warranty on eligible items you purchase with this card if the item comes with a U.S. repair warranty of 3 years or less. This is a good benefit that comes with a Visa Platinum card especially when you purchase electronic goods.
24-hour emergency assistance and card replacement which will provide you with the help you need when you need it. This assistance is only a phone call away.
No foreign transaction fee means that when you use your card to make purchases (online or in person) from a merchant outside of the US, you won't be charged an extra fee.
Our Least Favorite Things About This Card
No introductory APR on purchases or balance transfers. You start off with a variable APR of 19.8% on purchases and balance transfers if you don't pay your bills in full by the due date every month. To avoid paying any interest, just make sure to pay all your bills on time each month!
This Journey® Student Rewards from Capital One® is a good choice of credit card for students who want to build a credit history while in college, and also to earn rewards at the same time on all their spending. It's a great advantage for students to already have a credit history by the time they graduate from college since many employers in the U.S. use credit history as part of the hiring process, and banks consider it before granting loans.
This Capital One student credit card offers students a cash back rewards program which allows them to earn 1% cash back on practically all their purchases, as well as a 25% bonus on the cash back earned each month, as long as the bill is paid on time. This is a great way to teach young college students who are still inexperienced with credit cards about the importance of paying their bills on time. Not only will they start building credit early, they will also learn how to handle their money wisely, which is a great asset that will help them in the future. Start building your credit with this Journey® Student Rewards from Capital One® today!