GET.com's Review of Journey® Student Rewards from Capital One®
|Highlights||Credit Card Feature|
|Things We Like||25% bonus on the cash back you already earn each month|
|Our Least Favorite||No introductory APR on purchases or balance transfers|
|Our Verdict||Great card for 1% cash back on all your purchases|
- 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
- Enjoy no annual fee and no foreign transaction fees
- Get a head start and build your credit with responsible use
- Get Eno®, your Capital One® assistant, to manage your account via text, receive alerts, and shop safer online
- Pick the monthly due date that works best for you
- Get access to a higher credit line after making your first 5 monthly payments on time
- $0 fraud liability if your card is ever lost or stolen
- Monitor your credit profile with the CreditWise® app, free for everyone
- Intro APR
- Annual Fee
- Regular APR
- Credit Required
Average, Fair, Limited
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 to the whole credit card game and would like to build credit history and earn rewards, read on.
In this detailed review of Journey® Student Rewards from Capital One® we will compare this card to other top student credit cards, and tell you exactly what it is, and what it is not.
Things We Like About Journey® Student Rewards from Capital One®
It has no annual fee! You will receive all the benefits and rewards this card offers without having to pay any annual fee.
You earn 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.
You get a 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.
You can redeem your cash rewards in different ways, including as 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 26.96% variable APR.
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.
You get 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.
It gives you travel accident insurance. If you pay for your travel tickets in full with this card, you will be covered automatically at no extra charge.
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 additional warranty on eligible items you purchase with this card.
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.
It has 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 Journey® Student Rewards from Capital One®
No introductory APR on purchases or balance transfers. You start off with a 26.96% variable APR 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!
How Other Cards Compare With Journey® Student Rewards from Capital One®
Journey® Student Rewards from Capital One® may not have the highest cash back rate around, but it does offer bonus cashback which helps motivate you to use your credit smartly. It also has better travel and purchase protection benefits than many other student credit cards.
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.
There are cards that offer higher cash back on some purchases, but if you want to play it safe then this card might be a better choice because it does not encourage you to carry a balance by giving you an introductory low APR period, it slams you with a high penalty fee if you pay late (which motivates you to pay on time) and rewards you with a 25% bonus on your monthly cash back earnings when you make your payment by the due date each month. In short, Journey® Student Rewards from Capital One® is the perfect teacher to accompany you on your journey to good credit.